One Tick Of Death

Discussion in 'Trading' started by bronks, Apr 12, 2008.

  1. bronks


    I trade the ES. Everyday. Today (friday) killed me. Not money wise. Ream wise. Without the courtesy of a reach-around.

    Eight trades all on the short side since the opening bell with very tight stops. I have no problem re-entering. 7 stop outs in a row with about half of those showing a 1.5 to 3 point profit. But I'm so confident in my read of a tank, that I take a final trade short of 1349.75 @ around 10:55 am with some size. I actually moved my stop up a whole 3 points above the market. Once again I'm in the money... but I have bigger ideas, I want the flush! Although I do move my stop to BE (snicker).

    Well lo-and-behold if I didn't get tick f**k*d. By then I had already thrown in the towel. Unbelievable. It's been awhile since I was abused like this but daammmmnn...

    Voice your tick tirades here.
  2. I avoid ES on Fridays, always have...always will.
  3. I'm sorry, are you bragging or complaining?
  4. bronks


    Kinda hard to brag about 8 losing trades... in a row.

    I had a mean drunk going on so I got unusually expressive.
  5. It's funny how these daily-intra trends are so obvious but often are difficult to maintain a position in. I was short a few times, snagged a few points :)

    All day i was waiting for some short squeeze to develop but it simply just ground lower and lower...
  6. Hmm..never heard that...any reason why info?
  7. fwiw, the downside break was easy as pie to catch (of course, I only caught it after the fact but was too busy trading grain spreads) and very little shakeout potential...
  8. Bronks, I know what you mean. I like to trade drunk myself. In your defense, the retraces were a mite deeper than usual, at least in NQ. They triggered longs in my system that were sucker plays.
  9. Much as I loathe the five minute time frame (it's a Jack thing), it DID keep you short most of the day.
  10. PohPoh:

    What grains do you like to spread?
    #10     Apr 12, 2008