one has to be able to turn off the pc and get some air or take a break before doing more damage ... to ones acct and health - ll I lost money today. I went in thinking we were going down and as much as I know better I couldnt shake it. I shorted premarket and twice more on the way up. I knew I was f**cking up as I was doing it but kept on. Ever been there? Fortunately I got most of it back when a EUR short worked out but even it was a trade I wouldnt normally have taken. I lucked out. I really thought I was beyond this sort of crap. -
Shit. Damn it. My stop was triggered and sold my long positions. Right then the market turned againt my ass and went higher. Well shit does happen from time to time. What can you say. One more beer, please.
Even though I lost a few hundred dollars, I'm glad I decided to spend an all-nighter at the Mirage poker room last night. When I got home at 10 (PT) this morning and saw what had happened, I'm sure I would have lost much more trading the morning's action.
Oh yes, I was paying attention and I was expecting a bit of volatility, certainly a range expansion. But was I expecting the type of action we saw before the first two hours of trading were done? Not a chance. We're all brilliant traders.... after the fact. We all saw everything coming.... after the fact. But if we tell the truth about the 15+ pt rise right off the open, no pullbacks, and the almost immediate reversal for a ridiculous 82% retracement all by about 11:15am.... here's a post by nitro from another thread that pretty well sums it up:
Explain me how is it that I have no moon or planets in my equations and that the market turned precisely at 10524 the theorical bottom: does the moon know something about the price or is it only human manipulation exploiting mysticism to hide the truth . I let you remark that if it is just time that is fixed then there is still some degree of liberty. But if both price and time are fixed then it is impossible that market by just buy and sell orders law of crazy mass operators goes there by their own will without being directed by a third party. http://www.elitetrader.com/vb/showthread.php?s=&threadid=29331&perpage=6&pagenumber=1 <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=444753> Price calculation is more rational as it is something that pertains with economic modelling whereas time is normally fluctuating see Mandelbrott's article http://www.elliottwave.com/education/SciAmerican/Mandelbrot_Article2.htm Now because of the equations of my model time can be imposed some constraints but theorically I have not studied it as the equations are very weird. <IMG SRC=http://www.elliottwave.com/education/SciAmerican/ManArticleCharts2.gif>
everyone else watching those crazy >10,000 contracts minutes in the es lately? (also happened feb. 6th, 13th, 24th and 27th / but also last year for example nov. 5th or oct. 7th) almost always happen when market crosses prev. close line - or prev. high or some other important s/r areas. some funny guys seem to play real big games out there. i mean - it doesn't matter why things happen in the markets but anyway - without those heavy impulses yesterday would have been different i'd say. what do you guys think - i'm not a veteran - did such massive volume spikes happen also in the past (2000 - 2001 - 2002 ...)?
Just meant it was going to be volatile. I'm not saying anyone would know exactly what the market was going to do. And I'm definitely not saying I saw everything coming, especially in the spoos, I don't even currently trade equities, equity indexes, or anything equity related. But when you have one of the biggest runnups in fixed income in I don't know how many months on the heels of a sizable miss on a heavily anticipated econ number, you know something big is going to happen.
At some point, most people go through a transition just as musicians do. You get to a place where you can play with expertise in a musical organization and perform in an excellent manner. People who do this have a characteristic that is there for them that is very functional. Search for "executive function" to read up on how the brain works. You will not find any references to "easy". What you will find is that skills are developed and critical and lead to high performance. This thread is a very important one regarding "executive function". What difference would it have made to the posters here if they had rountinely done any number of things as part of their "practice". It would have made a lot of differences. Many. Musicians play at events and inbetween they work at being musicians as well. Repeated failure is not necessary if you are developing a skill set. On the other hand repeated failure leads to consequences. after you jave learned how you function, you will get to understand what repeated failure causes especially with respect to mental activity and in particular what aspects of mental activity no longer functions. All ET'ers are required by personal goals to learn, remember and reason. You will see posts here that lack excellence in dealing with the financial opportunity that the markets represent. Some demonstrate the mental damage that does occur as a consequence of repeated failure. As you know I track trend fader's existence as recorded in his posts on ET. Naturally these posts are annotated and the progression he had before he arrived is historically available. Using that as a starting point for the ET experience he unfolds, we all get to see the continuing progression. Pay particular attention to the segment where he pumped people of all kinds with questions about "what" they are doing. He dropped that effort after a while. He is now in the "holy CRAP" phase. Tardily, he was able to observe something that evokes "holy CRAP". Other posters respond here with the "easy" BS. Intensity and sarcasm are not gerat emotional (EQ) and intellectual (IQ) places. Some people, with standards of operation, remarked about how being adult is a good idea. Traders must be and are responsible for themselves. It is very clear that to perform you better be well practiced. If you are not, then it isyour responsibility. I posted prior to the events of yesterday and during the events with hard copy that without exception covered the events prior to the events. I did it in a pertinent thread of ET. All I did here was repeat the unfolding of yesterday, all within the context of other prior posts. That still does not make it easy. It makes it conprehensive and defines the action in a pre-established context. It is not likely that anyone can recover from repeated failure. It is very important at some point to be self serving and get oriented to getting with it before it is not possible to get with it.
You can choose success or failure. Failure is not as it seems to so many; they don't call it that. They have well rehearsed explanations for their station in life amongst the comfort and support of so many others who similarly regard setback and lack of progress as familiar scenery. The wish to win is also comforting even if unobtainable for so many of those indulging in this wish.