Made real good money in SHORT QM positions, SHORT ES, SHORT EUR/USD, and cashed out some of my longer term Rydex 200% inverse S&P positions that I had been holding since last October.....I was looking for ES @ 1100 as my cover signal but with todays action that was good enough to scale out some of that long term trade.
I respect anyone that can trade days like this AS WELL as "normal days" (whatever THAT is these days). I find days like this pretty confusing and ALWAYS lose money. They're my sunspot days. Monday the 7th was another one. Lucky for me, they don't happen very often....quite a few lately though
I have been in cash since the 19th. As an unexperienced position trader, I had seen nothing like the two days of 18th and 19th before (although as luck would have it, I was on the right side) and didn't fully appreciate how much political risk there was in the markets. Since then, I have been in cash and am not planning on shorting nor going long anything until politicians calm down or find some other issue to occupy themselves with. Since I hold overnight, I can't stomach the risk of some news coming out that will move the markets 10% up in two days, or like today, 8% down in one.
was watching the bailout vote on c-span went short 2 ES @ 1160 when it started to look like a failure....less than 2 minutes later I click on the DOM to buy back at 1149.75 so I can lock in 1k profit....got filled at 1146......were those fast markets or what? Wasnt feeling so smart 2 minutes later with ES at 1118
Just one trade today.... caught one of the two 10pt ES pullbacks this morning. Other than that, was not comfortable with the volatility post-vote, so I stayed out.
np. = ) Although most people who chose sat on hands are either: 1) not active day traders - because if you are active you would of executed at least one trade today, long or short 2) caught long and are marrying your position as an investment.