this is the 2nd time in a row I got beaten up with all the noise and movement after the fed meeting I gave back my weeks profits and over traded I know there is a lesson to be learned BOINK !!!! ouch some local hit me in the head with a brick and said ... thanks sucker !
the moves are dictated by light volume... why? lack of liquidity in both directions bullshit pushing bullshit while the funds continue to unload shares. you have to be lucky and good today
I had a tough day too. Started the day down $500 spent 3 hours getting to +$250 then dropped $500 again -almost kicked my monitor off my desk (at my own stupidity of fading the trend). Ended the day down $241 didn't trade after the fed meeting (was too pissed off to trade).
Depending on your timeframe, today was chop city again. Everybody wants to be short and the guys with the order flow know it. They keep running it up, letting it fall, running it up (past key stops), and then they sell like hell, getting their average cost back + a few points on the backs of all the shorts. Then overnight the market goes where it should've (down). We then trade in a tight range the following day because we're oversold, but nobody wants to go long. I think buying the dips near support (lows) and selling the HOD is the way to make money lately.
I haven't been trading the e-mini's that long, but I've noticed very often that the easy money is made after 21.30, that's when the >10 pts moves happen. I'm thinking of limiting my trading to the last hour of the day on the e-mini's and the first two hours on the ESTX-50. Let the locals chop up each other.