this market is friggin Dangerous-

Double bottom intra-day in the ES then sets up a 23 point rally to the upside.
How can one not make money on a day like today?

 

i made the post before the double bottom on the intraday chart. it was a nice breakout.

 

try again Tuesday when it ends up going up some more...

 

NY_HOOD, are you still not enjoying this volatility??? It's been sweet man.

 

NY hood does a good job of restating the obvious.

 

Dangerious for newbies.

If you've been trading for a while -- it is a trader's wet dream.

 

I agree.

Traders want a market with a discernible trend and decent volatility, they dont want one with violent whipsaws every 5 mins.

 

Violent whipsaws increase your potential risk, but they also increase your potential profit. There are still discernable trends within violent whipsaws. Just trade fewer shares or contracts with the increased risk and there should be no difference.

 

Well, for some of us, going flat is part of the system.
I tested mine to death, and decided, after probably singeing my long-suffering motherboard, that there was simply no way that, if volatility short-term rose above a certain level, I was ever going to make money. So, since the 20th, I've been flat. Well, OK, not totally, I've been trading a single contract of this or that option, just because I can't help myself, but at this point I have a big fat money market balance and no leverage at all.
Far as I can tell, by week's end I'll be able to get back in, but right now, I'm making that decision a single day at a time.

 

This market right now is a swing-traders nightmare, but a daytraders dream. I must admit I am flat on my swingtrades as well.