Stop moved to cover prior losses today. I did 2 contracts this time. Hoping for a slow meltdown all night.
I feel like a broken record for saying this so much, but 2023 is the year of chopfest. That means there will be no new high or new low (compared to 2022). So even though we might close above 2022, it won't be anything to write home about. I bet more people will lose their shirts this year than any other year.
I have got to think that 2020 was the year that people blew the hell up. We had that huge drop in March, but by end of year it was positive? How did that not F bulls and bears alike?
What I was saying was that I don't think people will lose more of their shirt this year than they did in 2020. "I bet more people will lose their shirts this year than any other year."
If my memory serves me correct, I don't think the intraday volatility was as wild back in 2020 as is now. The current market is treacherous for both bulls and bears, but especially if you're day trading. Not only do you need a much larger stop, but you must constantly fret over violent intraday whipsaws.