"Conversely I've hit THREE index plays this year for an average of 7-1 each. If I'd pyramided those gains rather than pissing them away in Bond futures I'd be a much happier individual......" Im going through the samething this year. Im really trying to lay off the scalping. One or two trades a day is fine, but doing 50 in 10 different markets seems to provide to many swings. Up 100k down a 100k. Part of the problem is just doing something during the day while still keeping in tune with how the markets are trading.
I'm sorry, I really don't follow. When you have a chance, could you explain this? You say GOOG is near a low here @ 630. If it trades 625-640 friday, that doesn't answer the question whether it bottomed. I'm sure I just don't understand the lingo here, all I understand are "near its lows" and "going lower".
I have a range-projection on the trade, on every trade. The projection is for tomorrow's distribution. My bet is that the trade is risking one to earn four [units]. I feel GOOG is very close to printing a bottom, if it has not already with today's action. I can't answer w/o the benefit of hindsight, and I can't predict the future.
BIDU was $100 six months ago. I don't find that sort of price-analog as particularly useful. GOOG is approx midpoint using your price/time analog when referenced to its ATH. I think tech is close to bottoming, XLF as well. As I've told Bob, I am no macro-guy holding this stuff indefintely in my 401k. I consider any trade at >1:1 risk a success. IMO, I am looking at 3 or 4:1 here. I have no interest in holding these through the EOY.
My whole life revolves around counter trend entries so I'm not at all criticizing. Besides, you're very talented. Just the fact that you're a buyer makes me look at the risk side of my positions. BTW: Those of you who participate on this thread have my thanks.
I'm on board. Paid 1458.75 for a little less than a delta neutral hedge. Chances are ES trades into the high 60's, low 70's to-morrow. That is if we don't all wake up to it trading 47ish......
That was short lived. Out at 56.50. This shit's really weak. I'll just take the heat or readjust if it tries motoring to 70 in the morning.