I would say I'm neutral... I'm less happy about actually buying the Globex Open on Sunday and getting out way too soon. I knew this week could be a biggie to the upside, but nobody bothered to tell me we would go up in a straight line... Nothing to do but to wait for a pullback now. For me, a bit of a problem is that all my "safe" targets are already tagged to the upside. Are we mixing apples and oranges...? That looks like a RTH gap during the regular US equities session. I don't mind buying a strong gap up on principle as these can often run. But I'm not used to the market opening gap up on Globex on a weekday and my brief experience says that these will usually get filled. That's why I didn't want to chase considering the market was up considerably already and I figured I would need maybe a 25 point stop to be safe. Did you catch the bus?
I still repeat this to myself daily... the hardest button to push ..... buy or sell.... is more often than not, the right button to push. Addressing this way back in 2019 lol: https://elitetrader.com/et/threads/es-journal-2019-2020.328086/page-237#post-4821630 https://elitetrader.com/et/threads/es-journal-2019-2020.328086/page-684#post-4863393
Nice. Gonna be a good week for you if you ride this all the way to 3800. True. I'd say going long wasn't hard for me yesterday, though. It was that gap up on Globex which threw me off guard. Nothing to do but pray for a pullback now. They always come although one can get euphoric and think otherwise buying a top...
They always come, don't they? Should bounce off 25/26 now if this is just a shallow pullback. If not - watch out below for a deeper one.
Not sure if everyone fully appreciated the wisdom that @vanzandt just dropped. Worth consolidating that info with my added comment at the end: "I still repeat this to myself daily... the hardest button to push ..... buy or sell.... is more often than not, the right button to push. One thing I've learned through the years.... the hardest trade to make psychologically almost always turns out to be the winning trade. Whats the hardest button to push right now? The "it goes up" or the "it goes down" button? Probably the up button at the moment. Always a safe bet to go with the hardest button. But that's hard. Go figure." [Remember also, what feels “easy” or natural, which may include “being out of the market,” may in fact be wrong.]
if he ain’t happy about missing out on a trade he shouldn’t be in this game, as that is part of it. Now wait for a nice pullback or let it run its course.
It's only a problem if you chase after the bus trying to catch it and get hit by a car doing so. There's always a new bus coming...