And that resolution will be bearish ImO, "they" are trying to keep EOD trading parties sweet sort of speak by doing what they did yesterday, but there is that monthly chart, which is just plain bearish as far as I am concerned, would be a hard task to negate that. I would have thought that maybe we will have more upside, since yesterday's close I am certainly not banking on downside breakdown come Monday as I did on Thursday evening based on the way 240 looked. Tricky point in time. I don't see any major bull movement until monthly sorts itself out.
I wouldn't want to trade like that, but that's me. I've seen YM go up 30 and come down 50 in a blink of an eye. I prefer to get stopped if I'm wrong. Which led to my original question. Can a vicious move like yesterday blow past a ym stop with 1 or 2 contracts only?
You would likely get a worse than normal price on your stop fill depending on the order volume coming into the market when your stop threshold was reached. You should still get out of the position if you used a stop order and not a stop limit order. I've been in positions on Globex when moves like this happen and have gotten out but with a few ticks of slippage. I guess it really depends on how good your broker is too. I would rather take the slippage than be stuck in an underwater position at the end of the day that's for sure.
Sure, do whatever you must do.But fear is a reason not to trade at all. 'Blink of an eye' is an impression, not a fact. The move was not vicious at all; YM is a soft fluffy touchy feely pussycat. Its soft paws are there all the time working away to help you unwind the ball of wool into one long line of net profits going straight into your pocket.
LOL, I too would like to know what the BIG deal is??.. they act like this is the first time news has affected the markets in such as way. See class, this is why we use stops, and next week, we'll learn colors! .
2 off the top of my head that I know caught it are top and fish. Others im sure, just cant remember. Not a pissing match though. I'm just saying, based on PA, guys were going long around here that I saw. I went long myself and got scared off cause it was past 3:30 and took my measly 2 points.
ive been debating asking this question of you for several weeks now mister day. Finally, i've reached the moment in the time where I'm just tipsy enough to waste my time typing it. ( As I'm sure that this is a waste of time, even as I'm doing it.) Why on earth are you such an angry person? I simply do not understand how someone like you continues to function in modern society. Perhaps you have your very own comfy unabomber shack somewhere "out there" and don't get enough attention on a face to face basis. That would explain your need to come on here spouting (very creatively written) bile that insures that any and all will do their best to send you down in flames. As I tell my six year old son quite regularly, No attention is better than negative attention. any day. Somehow, I know you will patently disagree with that nugget of wisdom. okay, what a buzz kill for me..i'm done now.
What loss? My frustration was that I did not get long enough after making a measly five ticks on a short after waiting over two hours. Simply put, that upmove came totally out of the blue. I was lucky enough to close out my short (I moved the stop down as soon as the new low looked like it was going to be a Wyckoff spring), and to be long something. I felt like a deer caught in the headlights. I have traded for a long time, and have seen just about everything. That move had me puzzled, and I ended up getting long only a token position. Do you understand what I and others are saying? Even experienced traders were surprised. No one is perfect, except when they're boasting about their (paper?) profits on ET. I am taking the opposite position. I am admitting that I could have done better.
Who cares??? I went short three times and then took the nice long into the close--what is the big deal??? Is it because some traders are buffin the helmet and don't pay attention or don't even know how to trade?? I'm really curious because as far as Fridays go, this one was a real money maker for me.