when you truly enjoy what u r doing that is quality of life........trading if successful or just on the road to getting there can certainly the finest quality of life.........if it means that to the individual...........to each his own.........one man's trash is another man's treasure............happy trading
=============== Porgie; yes they say buy junk; sell antiques Th weekly ES chart went from downtrending to almost perfectly sideways[again] in one mourning gap. Usually may sell a gap like that; wouldnt be suprised to see an ES uptrend day its been so bearish last week & medium & longer term are still up. Not a prediction.
murray t turtle, I really appreciate your non aggressive against porgie posts...........the comments in your post most cetainly is a prediction.........you declared no prediction........but trust me when you verbalized it you internalized it....or most of us do...........you told yourself and then us that it should do something in the future........i never have tried predicting where the market is going because as day trader scalper i don't care..........i only want the signals up down or sideways during the day........with no internalized ideas........called mind bias.........it's not that i can't talk about as you did without creating mind bias and i a m sure u the same......it takes many face slaps to understand "what's the point?"...............but, for stocks and so forth i hope it goes up......economy so forth.........but, knowing from thousands of times watching it go up and down and sideways on beautiful point producing trading days, when most are saying i think it will do this or that, and the coin flip 1/2 of them are wrong including the idiots on squawkbox, i don't even think about it anymore.......some don't trade fomc days........especially when greenspan was speaking........my old boss said some don't trade at all on those days......blows my mind if that is true..........i say, they should have a good system.......at announcement time be cautious........most likely a 50 % deal..........i don't do 50% deals on purpose...get it up over 90% PROBABILITY AND I WILL ADD IT TO SYSTEM.......ANYTHING LESS IS NOT HIGH ENOUGH PROBABILITY TO CAPTURE MY HIGHEST LEVEL OF CONFIDENCE.........I JUST NEED SOMETHING REAL SIMPLE........THAT IS NOT AFFECTED BY MARKET CHANGE IS MY OPINION..........
Out on business today. Did not trade any markets today other than closing my Yen trade. Results of 3/31/06 were 4 trades 1 winner 3 losers profit .75 pts = $37.50 Commision= $25.08 Total net profit=$12.42
Journal to date totals 50 trades 21 winners 29 losers 42 % Total profit including commission = $1129.33
Currently I have the 2 short units in the short term account from 1305.50. Being out on business, I left them open. I was pretty sure we would get the Monday bounce followed by a selloff, but I thought we would finish a little lower than we did. In any event, I did not feel that Monday would hurt much by leaving those two shorts open. Had I been trading today , it would have been a great day for my system. Tremendous short signal at the 11:30 AM hourly bar. That particular doji shape is very bearish I have found. I am still short 5 units in the positional account and am tempted to add here. I believe the market to be continuing it's weakening tone and even though we may head higher from time to time, it will just be drifting higher. The market is headed initially to the 1270 to 1280 area in my view and then lower from there.
I stopped using squawk, I don't see the point of using them. Once in a while they would provide usable info, perhaps there would be more demand if they provided financial news and quoting other futures markets continuously. I must admit trading FOMC days is good fun to say the least, when hysteria finally kicks in, starts breaking daily PPs, large blocks going through on T&S, how can an experienced trader not be able to catch at least 1 point is beyond me, if a scalper does not trade days like FOMC or like yesterday's afternoon session, shouldn't be scalping IMO.
=============== Porgie& bro; we usually read each other well. Its a bit funny to me, you actually thought/wrote it was a prediction; quote'' not a prediction, unquote''. Again, not a prediction, but find it helpful to realize they probably are going to sell the gap, obviously they bought[not sold] in mourning , sold off , afternoon. Realize that may not be important to a strict scalper; but for an intraday chart trader or position stock/swing trader, things like that are helpful over time. You want a prediction, read the book of the prophet Ezekiel; I can assure you again my sell gap comments were/are not a prediction, nor were my medium/long term uptrend comments are/were not a prediction. In other words even thegood/ better/best probabilities; are not predictions. Keep posting porgie, especially about that rich guy you worked for that had a 10 point ES stop if i remember right???
I suspect that there will be at least a small bounce here today with the potential for a sell off again either today or tomorrow. This market features "buy the dippers" because so many people view the markets as long only. In any event, for now I will hold my 2 short units unless it looks like the potential bounce has real legs.