Yen is determining where the US equity market is headed. The sharp rally in Yen, led to the drawdown in ES. Oil is in a long term down trend, as are yields.
Hey... If I remember correctly, you were killing it with the scalping. So mind if I ask why are you now looking at these long term trends? I assume that someone who can day trade will vastly out perform a swing trader. I realize that someone with a $10 million dollar account would be happy with a 20% yearly performance on swing trading, but I always assumed there were some guys who were trading 50 to 100 ES contracts, and capturing just 10 points a day would lead to incredible profits that would far out surpass the 20% gain on a huge account. You always approached things quite methodically from what I remember, so trading 10 contracts or more I thought would be the norm for you, and if you're flat every night, no stress! Anyway... so I'm just wondering how the day trading/scalping is going.
I don't watch the screens much anymore. There is a lot more noise day to day (AI/HFT/algos). Human nature plays much less of a role in daily movement. I only day trade when I feel it. I can get a 'line' into the market or price action after close scrutiny for a few sessions. If I day trade consistently for a week, I lose about 5-7 lbs of weight. I'm loaded on Red Bulls and watching price action 24/7. I just don't have the need to day trade unless its for fun. I'm involved in a lot more things. international real estate and things like that.
Good to hear that things are working out for you, but damn, you were one of the best here. I even remember you placed very high in some competitions. So if you found it to be too much, even with your amazing results, the rest of us don't have a chance! LOL.... Thanks for the updates.
everyone has a chance, its whether you listen to what the price action is telling you. Its about formulating the future and determining whether current themes in play persist. Or when the inflection in themes will take place. It takes a good understanding of market correlations and what tick to tick tracking is indicating. Other things have captured my interest more. The upcoming election is going to introduce a lot of volatility / opportunity so I may track the markets more in the coming days to weeks / months.