The Super Terrific Happy Hour

Discussion in 'Journals' started by Max E., May 19, 2017.

  1. Max E.

    Max E.

    LOL, probably like this morning when i was watching CNN hearing them shit all over TRUMP so i sold myself on shorting the ES.
    #811     Jul 28, 2017
  2. Max E.

    Max E.

    I keep getting a similar question from people im trying to help, and that is "How do you know its going to be a higher low"

    The answer is i have no fucking clue most of the time if it will be a higher low, i try to put the pieces together in my head, i try to make a decision, but im always on the verge of either cutting a position or adding to it, admittedly, i peaced out of the ES today when i really think this should have been a home run, im trying to post all my thoughts at the time, to show how quickly your mind can change, but the bottom line is a stock/index that looks like a sweet buy will always turn into something that looks like a sweet sell, all based on the same number..... stocks and markets pivot around certain points so i got my finger on the trigger around those points and im willing to either hit out or add depending on the level of conviction going into the trade.

    90% of the time i spend deciding if i will buy or sell im just trying to read it around a certain level so i might switch from buying to selling in like 2 seconds, but the important thing is knowing where a stock will make a big move, where it will either hold up or break out, then you just take your shot. If you only put yourself in good positions and always stop yourself quickly if your wrong, you cant lose money in the market.]

    I thought all of these last 3 were higher lows though, its about taking risk off the table when you can, and being confident when you think you have the nuts.

    #812     Jul 28, 2017
  3. Max E.

    Max E.

    look at the level that holds again 2462.5 LOL

    #813     Jul 28, 2017
  4. Max E.

    Max E.

    Another Example just reading the Tape and putting the shattered remains of the ES together, when you see it pop through a hard number like 2465, and instead of stopping people out it snaps back lower, you know there is a big seller. This doesnt work 100% but if you watch for snap points and see how it reacts around that its usually not too hard to read.

    #814     Jul 28, 2017
  5. Max E.

    Max E.

    Im either stopped out here or i will hit the ES for a ton short.
    #815     Jul 28, 2017
  6. Max E.

    Max E.

    Sorry guys i blew it today, im a terrible trader, lol, this is the life of a trader, just keep paying yourself, i made 600 bucks and i was wrong, thats the only way i can justify how bad i blew that one, sorry guys.

    I would still be willing to bet we puke today, its hard for me to accept this, but i need to pay the bills, and if your a trader its really tough to hold though that last push. I tried to leave some on too build in too if we went down but there was no reason for me to hold, no reason to build, except that im a stubborn jerk off.

    #816     Jul 28, 2017
  7. Are you going to trade the ES during the market hours too?
    #817     Jul 28, 2017
  8. Max E.

    Max E.

    Almost guarantee i top ticked it too.
    #818     Jul 28, 2017
  9. Max E.

    Max E.

    Yes but only during the rare times when its good, lol im kicking myself for not watching closer when ES broke 2474 yesterday but it was a tough short, the ES had bounced so many times at that point.

    Im watching the ES day in and day out but just certain ideas i really start putting my back into them, but i mostly just trade stocks. Im decent at trading ES only because im pretty selective with my spots.
    #819     Jul 28, 2017
  10. Max E.

    Max E.

    fuck sakes i knew i fucking did it


    should have set my stop to break even on those 2 contracts, like breakeven on the trade, instead of just breakeven on the contracts.

    I.E. I was up 600 on the first 4 contracts, i was starting with a wide stop i should have said i was willing to bleed off the 600 i made on the first 4 instead of saying, well im not going to damage that number. I traded my PNL i told myself im happy aT 600, so ill punch out when this shit goes south.

    So instead of holding on too a sweet trade on a couple contracts, i top ticked the stopout, this will be one of the most epic failures in history :D

    #820     Jul 28, 2017