MARKET only sucks when the perma bears gets smoked out. Friday's last 1/2 hr monster wave wiped out many accounts, they are sitting with margin calls and losses and kneeling down in tears. They were scalping nickles and dimes in down markets preying on others and now they got it up their asses. No one has admitted they lost money on this forum. How is it possible? Shorting is dangerous period. There is great possibility markets can make reversals on the dime and you lose lots of money. With the markets waffling these days these perma bears and shorts were having a 2 day orgy and the party ended up splashing turd balls on their faces.
well said. I was short into the close and it was setting up nice,... then wham. Anyone who says they saw this coming with the velocity it took on is a charlatan. I had my stop in so the damage was minimal... it just kind of funny to hear all the 20/20 hindsight guys... they had no more a clue than anyone else... until after the fact.
I'm considering hiring another analyst. You look like someone who really has it together and understands "how the game really works" wink, wink.. Genious I tell ya.
well said ! But I still think that the price action yesterday was not that of a trend day down on Friday after we broke important support, there was to much buying going on, something felt wrong. Maybe only my imagination...but I learned that the most important thing in trading is my intutition, I was convinced by late afternoon we would see an upmove though of course I was surprised how strong it was.
As someone who's been observing the YM for a few months and is ready to dip their toes in again, I was wondering if a vicious move like yesterday would have blown past a YM stop with even 1 contract. It happened to me last year. Maybe it's different now cuz of increased volume? If it isn't different, then maybe I should look at the ES.
Why not instead just follow the upswings (or downswings) as they occur?The upturn in the last hour (YM,Fri) was well signalled (buy). It might have been a smaller up-cycle; it doesn't matter. When you are aboard you stay aboard. You turn around your position (go short) on a reverse signal and get back on board if that reverse signal (sell) is followed a by a new signal (buy).
Nothing perfect but had been frustrated all day with the grinding.. which seemed to be resolved to new lows then quickly became unresolved again.. That is why I started this thread.. had nothing to do with the final result.. I reversed long as soon as that little box was broken to the upside.. Therefore I did very well.. I profited from the whole thing in the end.. but I am tiring of the endless sloshing..
you expect us to believe that? thats why you have gone through several long posts to explain your loss. lol