Nice roller coaster today huh... Even for those of you who do not trade futures intraday, you really should just watch a 5minute chart of the ES each day and get a visual on what is happening intraday.... quite fascinating. And for me a little profitable lol..
Getting long on bounces from 1345 has been good for 2 points scalps - nice way of rising the b/e point It'll be interesting to see what happens if we go below 1345
Interesting point of view. A trader's point of view - and a very good diea for anyone who considers himself to be a trader. I am not a trader. I am a money manager and a risk manager. I open positions and let the profits take care of themselves. My job is to make sure risk stays in line and that losses are not allowed to get out of control. As I said, making money is easy - the tough job is to keep losses at acceptable levels. Mark
SOunds like you took my suggestion personally lol... well it was not for you then No matter what it is still interesting to see how it moves intraday, for shits and giggles....
Hi Phil, Didn't take it personally. Just mentioning that not everyone here is a trader. And for anyone attempting to time entries and exits (and that includes almost everyone here), your suggestion is excellent. Mark
On the left of the ToS screen (client version) under Market View, Right-Click the column header and select "Futures" from the popup list. Right- click on your choice and select Charts.
Hi Mark, Great posts in the last couple of pages. Been following your diagonal posts and i like your philosophy of containing risk first and foremost and not letting them get out of hand. I too need to be reminded to firstly look after the risks and let the profits take care of themselves. Coach too is also a very strict risk manager as well which is why he has been successful. You have told me in the past that you open new diagonal positions irrespective of direction whenever the DOW moves around 50 points. That translates to roughly every 5 point move in the SPX or ES. So im assuming that you would have opened new positions in stages during this current move between 1250 and the current price of roughly 1340 and higher. In this rather strong upward move of the last two months, would some of the short strikes in your call diagonals have been hit and if so what has been your risk management of those diagonals. Have you been forced to close those that have been touched and opening up new OTM diagonals? Have you also been continually opening PUT diagonals at higher strikes as well to balance them with your call positions? I guess my questions can be answers if one takes away the question marks. So you can just answer yes or no if you like Thanks in for any advice you may have.
Thx but when I right click and go to charts nothing comes up... edit...oops I got it..was on the phone thanks again