I, for one, prefer docile markets. Your normal methods go out the window in this environment and this doesnt happen often enough to become proficient at trading it. I will be glad when things get back to normal.
I was around during the last bear and at the end of the bull, I guess I have been lulled asleep for the last 8 months and programmed to buy the dips.
In all seriousness, this morning was like trading thru one entire week's worth of normal market action. I left about the same amount of unrealized gains on the table as what got taken. Exited way too soon on everything, entered a bit late on some. For example, I just closed ES short 1407 at 1405, current print 1402.25 as I type. Wild, wild, wild volatility. It'll abate pretty soon, but we'll see much more of this in 2007 and beyond. The days of decade's low VIX are numbered. ER trades top column, ES trades lower column
You got that right my little method that was ringing the registers for the last 8 months has gone hay wire.
Hey Austin P... you still mocking Michael Steinhardts call for a correction last week and calling him an idiot like u did ??
Every time you make margin profitwise, exit and renter with another contract added. Use 2nd hook on $TICK as leading indicator of reversal coming up. You have over 30 seconds per reversal window.
For those people who have been on SCT for a good while, USE fine. Look for walls on DOM and do the turns for the ES off the YM two pairs on the YM tick chart. Only go to fine when coarse and meduium suggest. Debrief daily by running your finger on print and sliding the YM tick chart from right to left for the whole day. Look especially at that fact that you are running early or late on the optimum for the turn. Think of putting and the force you are applying the get the hole range. Too little too much. Keep adding contracts one at a time when you are in continue.