And the sucky thing is that NOW is the time to try some swing longs for a few months. I got caught in the top, and did not realize that this virus thing would get as bad as it did, because when we had the first drop back in...January? When NQ went from 9500 to 9000 and came back so quickly? I puttered along at the ATH going, OK, it will be the same thing then, yeah? Well, this time it was not, and now we are in a crash. I can certainly smell out the big drops, can't I. Gratz on your win, by the way, trader99. Was it in GC? I hope not.
Another low-info, bot-worthy partisan post. You can thank Obama for making years of ZIRP and QE the norm (since we're blaming presidents for Fed decisions). You can definitely blame him for the debt bubble that started getting out of control in 2009. https://www.usgovernmentspending.com/federal_deficit_chart.html
Wow. That's a nasty drop to be in a swing trade. But if that's your cup of coffee then good. BTW, GC was and is my worse trades! Except for that one time in the beginning! Fck I hate it! I daytrade every single day for a few hours in the morning now. That's my P&L for the day. So everyday I try to net positive. Some days I net low 4 figures. Other days I net 2-3 figures. Sometimes I'm down 4 figures day too! But I make it back to positive by the end of the month. I feel daytrading is the safest thing to do for me! Because I don't have overnight risk. I don't feel comfortable holding any positions long or short overnight in this crazy 1000+ pts up or down days.
Yeah, these new market conditions came and stayed. That was my problem. My biggest issue now is trying to figure out what a good stop and target is during these times. 1000 -tick swings over an extended period of time is not what I am used to. It is so tough trying to figure out the market dynamics. And I now look at CL, which was where I started my journey, and holy shit, I would have been blown out if I had kept on keeping on with my old method, because it worked in a 5 point range. Now CL went from 65 to 21 in two months? Good lord. And I looked over to live cow, and even that is a death trap! Expanded lock limits on both up and down? Frak.
don't kick yourself too hard.... if tops are avoidable, Warren and Charlie, with all the resources they can tap, would not have 'seen their portfolio cut in half, at least twice in their investment lifetime'.... that's why despite my constant bull call I also mention Warren's 50% rule. this shake operation... they always do it like this - start with a huge down day so if you are long you are trapped, you feel like perhaps you can get out on a rebound, only to see it gets lower and lower.... that's how them boyz do it.
You are absolutely right about the net earnings yield attractivness. But theres one thing you (or noone else for the matter) have not considered - what if yields rise?