Need help breaking a disasterous habit

Discussion in 'Psychology' started by sputdr, Oct 28, 2005.

  1. Just a little background.

    I've been trading for almost 6 years and trade mostly momentum and have always been profitable.

    Anyways, my problem is mornings like today:

    The S&P has pretty much become a derivative of the dow minis, which trade no volume and the index is pretty much meaningless. THe volatility in the S&P is huge as compared to the dow and I just can't for the life of me understand why and think it's total bullshit but it is what it is.
    Charts turn negative so i get short, instead of trading down the S&P just sits because the dow just stops trading. I"ll do this over and over and it's killing me.

    to me a futures contract of 30 stocks that trades 2500 contracts in 10 hours should be closed and obliterated but it's more important than anything else.

    Anyone have any good advice? I just need to hear how stupid I am from somebody else.
     
  2. what do you trade ? do you trade short term intraday during regular hours ? do you trade overnight ?
     
  3. I only trade overnight.

    I get up around 3am chicago time and trade until 8 am and in the afternoons.
     
  4. u are trading the dow? S&P? Emini? Overnite?
     
  5. i don't understand your problem with the Dow/YM. if you trade the ES - ignore the dow. concentrate on the technicals of the ES and act accordingly - and if your current strategy does no longer fit - find something new. what exactly makes you think the ES is a derivative of the YM??
     
  6. You think the dow is more important than the S&P? Are you kidding? There is like 10 people in the dow pit and hundreds in the spoos. No paper comes into the dow pit, the traders just take each others money, Not very many professionals trading the dow, if you are trading spoos no reason to pay any attention to the dow. I know a lot of people that trade the S&P, on screen and on the floor, never heard any of them even mention the dow.

    5yr

    PS Your pretty stupid.
     
  7. "to me a futures contract of 30 stocks that trades 2500 contracts in 10 hours should be closed and obliterated but it's more important than anything else."

    5yr- Your reading skills are lacking. You can save your insults, I'm just looking for a little help that's all. If you want to insult me then go fuck yourself and save it.


    The problem is that the dow dictates the action in the S&P due to the arbs and it's a killer in the AM.

    You have to pay attention to the dow because it's the only thing that matters on days like today.

    I guess I"ll just have to change the way I do things.
     
  8. If you're going to call someone "stupid", make sure your spelling and grammar are correct.
     
  9. Why do you say the mini dow controls the s&P? Are you saying there is enough of a lead that you can trade ES off the dow?

    Program trading is more apparent in the dow because there are only 30 components. Is it possible that is what you are seeing? It's not the dow, it's the programs that are screwing up the ES.
     
  10. bolter

    bolter

    sputrdr,

    You've survived this long because you learn from your mistakes. Here's a perfect opporunity to do it again.

    You are no orphan - we've all been there, and probably will be again.

    Good luck.
     
    #10     Oct 28, 2005