Well Guys it is 7 o'clock in the evening here in sunny NYC and I just woke up. I had stared at my screen since 7AM Tuesday morning until about 11 o'clock Wed morning. As you are probably aware I made a couple mistakes and had a large position when the markets closed on Tuesday. Since I absolutely cannot sleep when I am deep in red an my position is open, I stayed, posted and observed life through my internet connection. Those of you guys who supported me in my hour of need I salute you and thank you from the bottom of my heart. Those who had a good laugh at my expense and did not fully grasp my emotional hole and genuine sadness during those hours: I can only hope that you will never have to go through this kind of ordeal. Once again thanks guys, I really appreciate the support and thanks for those messages of hope and support (you know who you are). As I stated earlier, at around 11 o'clock I was too exhausted to trade and went to sleep. Smoking a pack and a half of Pall Malls without filter did not help me function much better either. Especially, since I am no longer a smoker,I paid a heavy price of inhaling so much of tar and nicotine throughout the night. So my trading day was not as productive as it could have been. As for my system, I am well aware of the alleged mistakes that I make and they have all been pointed by JJ and other members on this and other threads. I actually appreciate, value, and prefer straight talk and in your face criticism. As a matter of fact this is why I am on this thread. I want to learn from you guys so anytime you want to slam me down, I have no problem with it whatsoever. As a matter of fact, I welcome it. So fire away and do not hold back. Coming back to my system. Well... I tried doing what you guys are so good at and I failed miserably. So, after many trials and errors I was able to patch a system that is making me money on most days. I get ina lot of trouble when market moves like it did on Tue. other than that I clear at least 1k a day by 1PM. Some days I get 2K.I had about 7 days going over 5K and 2 going over 10K. Those were made by placing 5 contract per point as opposed to 1. So, Ithink I am successful so far. So far I had one day when I lost 15K and two days like yesterday when I was under over 10K. Both of those day I managed to get out even, that is on the first one I made a little bit and on the second I lost aout $300. As for unorthodox way of making $$$$$ BoyBrutus provided an excellent post to a fella a.k.a. the flipper who is doing phenomenally well in a fashion that in not conventionalto say the least by trading standards. Here is a link, scroll down a little and read it for yourselves: http://i-found-my-holygrail.blogspot.com/2005/09/worlds-most-successful-trader-paul.html His style of trading violates at least several basic trading skills yet his account is fat. How do you like them apples Jimmy J.? Cheers!
a huge player just turned most macro markets. if you look at whats going on, a mega whale brought us down to test the lows, but the asian and fx markets didn't confirm the move in intensity. Europe was meak in its response, this player(S) just reversed and covered the implied positions.
gdp number is going to be padded tommorrow. cap revitalization is continuing currently, in most markets.
Spectre2007, Could you elaborate on your last three posts. The third post being the one above. Bottom line for a swing trade, do you think the low was in on 16 Aug 2007 and the bias is long? That is the way I'm interpreting your posts but I'm not sure.
looking at the action last 24hrs, it seems that a trigger hit, on most models to cover, around noon USA EST time, there was a sense that a short covering rallying could ensue. since price tends to bounce from level to level, 1484 would be the next expected target for ES. Current moment ES is locked in minor walls at 68-63. Its basically violent short covering in most markets. This short covering can spill over a little to hit 'coast to coast' levels, in most macro markets. Whats unavoidable is the macro gloom impinging on most markets. There is a lot of psychological trauma inflicted globally, so there is a lot of scared money. Most of the sellers who needed to redeem have redeemed by now. So players are just risk averse. Volume should continue to die down. But moves will become pronounced since liquidity contraction will effect most markets.
Wow, you aren't kidding! I obviously noticed that today was the reverse of yesterday, but I didn't realize how "mirror-like" it actually was until I put the 2 days side-by-side on my screen. I love symmetry!! So I measured.... this is day session only. Tuesday Morning decline = -14.5 points, middle of day rally = +6.25 points, afternoon decline = -20 points, net = -28.25 points (remember we gapped lower, so net loss on day was greater) Wednesday Morning rally = +14.75 points, middle of day decline = -9.5 points, afternoon rally = + 23 points, net on day....... drumroll.... +28.25 points! Howzat for a mirror? :eek:
volente, my market started at 9 again cst...just like the thousands of others.....93% is looking good...sorry to mislead with that 100% garbage....that was just to stir the paper boys... #12......never risk anyone else's money #13......never keep more in trading acct than needed #14......don't believe what you read on any forums #15......no external information #16......es is worst market for stops...