Interesting that we were able to take out the July 14th /ES low in one trading day. Lots of accumulated longs over the last couple of months suddenly find themselves in the red. Is today just a puke (as Mav called it), which leads to a quick reversal up like we did in days following Brexit, or is this the start of something more?
Holy volatility, Batman... I still think the real story here is the downside breakout in the 30-year.
Bonds were a great tell that something in the air was amiss. A day like today would normally see the 30 year up 2 handles. The market has changed guys, trade accordingly. These transition periods usually mark the litmus test of whether or not this is just a hobby for you or whether or not you belong in this game long term. It's not an introspective question, your p&l has the answer for you.
True. Never actually had the time to do this full-time. Trading is so hard because it requires capital and for someone starting out...they have to continue working to acquire said capital and cannot completely go full time and dedicate 100% until they're already profitable. It's a catch-22 situation...you need to be successful to go full-time but you need to be full-time to have a chance at success.