EXACTLY ! To be honest with you, GG has let out a little secret, and you know what, WE ARE ALL LEARNING FROM IT when the next IMBICILE does a SIMILAR THING with his "mistake" - Go for the Qs and the Spy!!! [IF you can figure out where they are trading.] However, I agree with you that is probably best to stay away. You don't stop a dog fight by getting in the middle of it, you stop it by throwing water on the fighting dogs. nitro
Put it this way Gordon, Quah isn't going to to get hammered like somebody taking a gamble mighton this trade. Watching the other markets could give a clue but not everybody is smart en0ough to do that and know what to look for. For most, watching the bonds might just be noise 99.99% of the time. I watched it happen and the chart said to me, "Stay away (for now)." Also, you said, "it was obvious to me that the spike down was a great long opportunity" Was that realtime or afterwards?
Its obvious that Klutz is living up to his/her name. Any good trader knows that spikes like this bounce... unless you see an obvious flash of light and hear a big boom! I use tick charts on ES on 3 dif time frames and it was fairly obivous to see when the bottom came. GG is obviously the winner in this grudgematch... imho! Congrats GG...
nitro, i just tried to PM you, but your box is full. this was my intended message to you: nitro, if you saw a suspicious ES spike, would you trade SPY instead of ES because the ES trade might get busted? if that's the reason, are you sure the SPY trade wouldn't get busted, too? thx
I was still short anyway and just looking to close out when it burst down more. - pure fluke. I always keep a market order handy for such occasions ready to just hit send for a quick exit. Once it bounced it went up very fast and a case of close eyes and click send and see what you get. No limit order would ever get filled in that speed. Sure - it's a lottery, but one with the odds on your side that far away from price. Natalie
These are exciting days, when these market anomolies occur. Usually, but not always, linked to some unexpected and surprising news event, but not always. These days in your trading career, liven things up a bit. It is the day in and day out grind of disciplined trading that makes you a trader. If you trade every day or attempt to trade every day, then these events are just watercooler talk, they don't pay the bills. They serve as reminders that everybody is prone to some fear and confusion in the marketplace. Becoming aware of the uncertainty surrounding such an event helps to focus me on the certainty with which I should approach what pays the bills, everyday trading. My goal is to become a better everyday trader. This event will surely impact several people negatively. However, since I have paid a bunch in tuition already I am better informed to wait for calmer and more liquid days before attempting to make my money. Rock On. Bruce
I guess it is luck, because I placed my limit order for 9050 just 20 seconds before the floor fell through to 8474. I got filled at 9050. Is that luck?