Be careful with this, you are trading correllated markets. I went long crude and the s&p 500 a day that they tanked. It was upsetting to say the least.
Well your back in the black on the ES trade, must've gotten a little spooky when it pushed the 1200 mark. Good discipline...welcome back to trading.
yes indeed. I accept that both these trades can lose and I can withstand the loss. As traders, diversification is not really the name of the game. Just need to make sure that all your positions losing at once is not going to take you out of the game.
thanks keeptradin...good to be back! Yeah...it got within 5 pts of my stop. In this game, you have to be very comfortable taking a loss. Otherwise, you will avoid it and wind up in a hairy situation. Positions looking good. Just need to be patient for the move.
Big moves in ES and DX today! I have been holding this ES short for awhile now and my patience is paying off. My target is 1000 for ES.
ES tested the low made back in August and is bouncing up nicely now. Will re-evaluate this short position at the end of the week.
Exited my ES short position for a negligible loss: ES Short -330 I did not wait for my stop loss to get hit. Looking at the weekly chart below you can see where ES tried to break the August lows and was unsuccessful. IMO, this dramatically decreased the odds of this being a successful short trade.
Looks like my decision to exit my ES short was quite timely as the market surged today. In other news my Dollar long position DX took a beating today.
Good call on the short cover. There is no rational reason why the market rallies in the face of economic chaos. That's why I'm not a position trader.
I got lucky on the short cover. Rather than exiting at the market Sunday night, I put in a limit order so I could eke out an extra point. Once I was filled the market took off and never looked back.