You wouldn't be the one who keeps sending all those emails about implants and enlargement and videos of farm animals, would you?
Good.. I took no trades, I usually trade slower patterns like yesterday's. I'll have to adapt my style if fast days like these will become the norm (but let's not be too optimistic).
...yes, and the emails for herbal viagra "en supositoire" as well. But we digress. This is a serious thread, and we must save it form being consigned to Chit-Chat. To that noble end, I will offer Dominic the benefit of some wisdom. The kind of straight-out-of the chute mo-mo plays that work so well with stocks at the open work equally well for the minis. Today's NQ 9:30 ET action is a textbook example. I myself played it for 13.5 points in the first hour. Any idiot can see that this is such a great pattern that there is no need to backtest it. Just go for it whenever you see it unfolding in the first few minutes. Easy money. Phoenix, I am sure you can come up with similar good advice for Dominic.
Also worth noting these long, slow, boring, churning, midday bases. Their outcome is generally predictable as well, in this case good for an extra 12-18pts (so far), depending on entry.
Sorry you missed this nice upswing today, but there is always tomorrow. I did OK today might have done better but got hurt giving some back playing over "lunch" period chop. Can't/Won't complain though.. Bring on tomorrow!
...Yes, the mid-day offers many profit opportunities. I would add to your excellent suggestion the following strategy: long at the open if the underlying index gaps down, short if it gaps up. An obvious play also needing no backtesting to prove it out. This works even better with a filter requiring that the previous day was up for a long, or down for a short. All very straighforward and textbook logical. Trading the minis is a piece of quiche.
I don't understand why I'm getting criticized because I feel comfortable trading 5 contracts and accepting a $500 loss if I get stopped out? Whats the difference of trading 5K shares of CSCO or the QQQ's compared to eminis? A .10 cent move is either + or - $500.00 which I'm used too. 20 years ago TA was never used; I wonder how anyone made any $$$ without their computers and charts back then? Did your TA tell you before the market opened that Dow would break 10K? If TA is so helpful, then why are there losses in the markets? A stock can look get on a TA chart and a hint of bad news ( i.e COCO, CECO) and stock drops 30% in a day. Did TA tell you that was coming?