Austin youve made a lot of interesting posts but I can see no reason to post this trade except for self aggrandizement.
ER short into known market-moving event: #1: Gapped down and filled its gap... with noticeable selling pressure on that candle/bar #2: Failed at previous session highs, exact same behavior in ES as well. #3: Closed back below daily pivot in ER and ES. Then lifted into previous support now presumed resistance. <b>der</b>, that's enough reason right there to short the ER or ES and hold for the probable ride. Agreed? I do use more tools than that (of course) for everyday trade setups, but what we saw in the chart posted below is a high, high odds event trade setup. There you have it, <b>der</b> ... now what do you have to positively share with ET population here?
Would much rather see a quick snap of the IB execution just so people will know youre straight up. Wont take but a minute.
<b>BearBelly</b>, I posted what I did because the topic of this thread and many others recently laments price action going higher, when is it going to end, the markets are irrational, etc do the nth degree. My stance remains the same as always: ditch any bias, trade what you see, trust the charts. BTW... I missed another easy +4pt ER short after shutting down too early. I'm not immune to emotional weakness due to recent market turmoil. I myself need to work on avoiding preconception and just trading the markets. That was my purpose for posting. The opening topic assumed the news event would push prices higher. I meant to demonstrate that reacting to chart evidence and blocking out all else is the only way to profitably trade with balanced emotions. Hope this helps :>) Austin P
I don't trade IB... never have, never will. I'll post snapshots whenever I feel it necessary. That will be coming soon on a regular basis, rest assured.
I dont doubt you know what youre talking about. I have picked up a couple of very interesting tidbits from your posts. I just did not see any reason for posting the trade alone especially when the entry was almost perfect. You are going to arouse a lot of doubt without some kind of proof. Looking forward to your p and l's. I'm sure they will make me very envious. p.s. I really dont see any sense on anyone posting any trades without an execution sheet of some sort. Whats the point?
<b>BearBelly</b>, anyone in here can read thru my posts archived. I think they'll see many attempts at helping other traders thru a myriad of topics whenever I can. I think my posts are generally positive, respectful and uplifting. I fully explained earlier why the trade was posted. Am I to understand that everytime someone farts reference to a trade in here, proof is required or the poster is a fraud? Does that also include references to losing trades requiring similar proof? Or is it assumed everyone's a loser and that's that? * Had anyone asked me in respectful fashion to explain that trade, what do you think my response would be? "Screw you, Buddy"? Or do you think I would have posted the chart & explanation as I did? My history of posts is open for all to see. I treat everyone with respect and courtesy in this forum. Likewise, I respond very well to reciprocal treatment in kind.
What's the problem with you people? Someone helpfully explains a trade, and all you can do is complain. Too much of this bullshit going on here. Austin, thanks for your commentary, it's very nice. Got a similar ride myself though not for exactly the same reasons. Wasn't even aware of any FOMC minutes.