Welcome back...and yes you should come back. We miss you. True to form, you had a bad day and I had a good one. I nailed this one today right at the bottom to pick up a bunch of tech pinging off S/R, collecting a lot of volatility premium. Saw the writing on the wall and picked up all my core positions and held off on buying hedges. Picked up SPX & QQQ hedges a strike higher than I would had I opened before my positions (as is my MO...modus, that is, not my biggest holding ). So good day. On top of that, looks like the Senate may make inroads on on theft reform...which will crush my hedges, but isn't that kinda the point? Welcome home Max!
Here is the diagram of the trade, i piled in when i thought the ES was breaking down, then didnt cut my loss when i knew i was wrong, top ticked the stop out, shorted the bottom again cause i didnt want to miss the trade, then stopped out again, got absolutely owned by the ES this morning.
I didnt have a "bad" day, i made 10 bucks today, lol, j/k i was amazed i made it back to green after this fiasco. Im posting it so hopefully people learn from my fuck ups, but it was a goddamn miracle i touched green again again one point today. Guess the moral of the story is dont shoot your dick off before the market even opens, this would have been a monster day but i buried myself before it even began.
LOL, should have just bought the fucking dip, every time i try to get cute on the indexes i pay the price, bottom line is there is nothing taking this market down. Congrats on the big day! If you want, i will donate my 10 bucks to a charity of your choice.
It wasn't a big day, per se. Just a lot of good entries. I sat out this week's expiry after two good weeks (one rule), and a bad gut feeling at the top of the Bollinger bands (another rule). So today vindicated my decision to sit out, and showed entries on better than 1/3 of my list (which earnings pared quite a bit). If this grinds up for the next week, 20% gains could be in play by next Friday.
Here is a reasoin you cant afford to get buried off the open, i was short a bunch of UL as well, but after how bad i got crushed on the ES, i decided to cut UL to almost nothing, ...... so of course UL went a buck........ dont get me wrong, UL bailed me out but i dumped size in UL specifically cause i cut my dick off in the ES so the bottom line is if i traded the ES like normal it would have been a massive day.
Dont be nervous, all you need to do if you want to be famous is watch me take a bath on the ES, my name is Harvey Weinstein.
Sorry guys im spamming now, but ive been asked by people why i should have known that i was wrong on the ES and why what i did was so stupid, the reason, is because i kept shorting the shit out of it into obvious HIGHER LOWS, and in this market if the bottom holds you should pretty much just go all in long, anyways here is a better chart, to show why i should have known i was wrong the whole time....... Bottom line is pay attention the the trend, when its setting higher lows against a short position get out, dont size in, or vice versa on shorts, but it was very obvious this was happening to me in real time and i let it happen anyways. Gggggggrrrrrrrrr.
much better day today, would have been a massive week if not for the ES fiasco, yesterday First off was PYPL, was looking at it thinking it kept setting lower highs and grinding down into that 70.50 level, so i thought that once that level broke the stock was going to tank i ended up peeling some off close to 71 dollars cause i thought i was wrong at that point and support was holding, but once it failed on the push to 71, i knew that it was going down so added a ton more. Peeled some off infront of 70, then when it snapped 70, started dancing a jig when it was at like 69.80 thinking it was going to be a monster then it turned back up so i bailed, should have known when i was highfiving myself that it was the bottom, generally speaking the second a stock gets to a point i start getting excited it usually signals the end of the move. Sweet trade, could have managed the exits a little better though. After that when it kept on holding just over 70, i was thinking about going long but didnt want to try to thread the needle after i just crushed it.