What happened to this short position ? Are you only posting entries and not exits ? I understand you posted you were bullish but then claim to have shorted 200 under 1468 and act like they just disappeared.
He said he was hedging the long positions in stocks. Personally I think it would only work if there was a sudden selloff and he got short quickly, instead of trying to get out of a bunch of stockpositions, otherwise whatever is the gain in the stocks he is giving it back with his loss in futures.... But anyway, Spectre, can you be more specific when posting futures trades? Seriously, we don't care about your stock positions, this is a thread for ES traders. So as far as we see it, selling short at 1465 is a losing trade so far....
The trick to getting the intraday emini trading right is to test until you have a signal that is very dependable so that your confidence becomes extreme. Then when the picture of that entry signal is imbedded deeply within your mind, enter each time you see the tested and proven signal. Who is brazoria?
The position is a active hedge against cash positions, an active hedge means your trying to make money on a any countertrends, since unloading multiple shares using basket orders is very tedious. You can imagine how pissed off I was, when the 2 predominant systems I use failed in terms of ability to display what was going on. My chart windows on one of the platforms froze, but the active quote board displayed changes. At the same time one of my other platforms froze and gave me a error message. Without going into details which platforms I use and brokers. I have redundant systems setup, multiple laptops that are turned on, with broadband cards and other desktops with different ISP's fired up ready to go. If you think I rode 200 lot short position hours until EOD, then your mistaken. So the minute I noticed, the freezes and error message occuring, I quickly logged into one of the laptops and fired up the platform, this platform is the same platform I have on one of the desktops, that froze those active charts. The quote board showed buy program hitting with ES going above 68-70-72, my other laptop has similar systems/filters loaded up, and it showed a reversal signal, so I reversed. And held on and caught most of the move up. Irrespective I was pretty pissed off, this never happened with the platform, where the active charts just froze, but the quote board was still working. Without giving away every fuckin bit of detail on the filters/systems I use to trade, which anyways I think I have. Whoever was doing it, if they wanted to have the benefit of me loosing some money, for the next few hours it was fine to let them think that. But my gameplan from the start of the day was posted, and I stuck to it. Right now doing some clean up work on the desktop that was effected. I deleted all the programs I don't need to use. Either way, I'm going back to invisibility mode. I have to find another outlet or diary like mechanism where I can keep a journal of ideas. When you write your rational down, during trading it really helps, with the timeline of thought processes and it helps you evolve as a trader. I might go back to the pit, I really miss the social aspect of it.
I was also under the impression that my trading set up was 100% reliable until today. Missed 2 hours of traing and had to close my trades at a local Mc D. which for some strange reason had WI-FI. It was a funny scene sitting there with all kinds of folks staring at my laptop. It was comical and tragic at the same time. Well, It is half past midnight and finally I have "fixed" the problem. Let's hope there are no more surprises on Monday. I need to short that ES pig and bleed some $$$$ from her! And boy is she ripe for bleeding!
Spec, if you are trying to hedge via futures, then why did you reverse and went long instead of holding a short? Don't you think it's better practice to opt out for options/leaps, why futures?
JSSPMK, those are very nice charts and very impressive work. Excellent example of how multiple timeframes should be used in a mutually correlating manner. And I mean that sincerely, whether or not your scenario plays out or not on Monday. Do you use RSI divergence (e.g., grails) in addition to MACD histogram divergence? Just wondering, because I don't see RSI on your otherwise very lovely charts. I like to use both. Belt and suspenders, don't you know?