That stinks.....you almost got filled (1679 contracts traded at your target level....you were very close I would say). I was done at 04.50 with my last 1/3....flat now. I will be very surprised if 1303.50 does not get hit today.....still some holding LONG's right below 1304's. (5,000 to 6,000 sitting on the bid now at 1303.50.....LOL )
Yea, it's weird how much randomness is involved in scalping. ie: IF I would have gotten filled at 06 instead of 5.75 on my short or IF I would have left my stop above the big down bar high of 14:10est etc etc and on and on. There are so many opportunities in trading the e-mini's that I am confident that the randomness washes itself out over the long run. You just have to ignore it and move on
You may want to look at taking more of your position off at 1 point (like 2/3'rds) and then set your last 1/3 for 2 points.....ES just trades so tight many days. You had a target which was just a bit too close to the stop-run area I guess for the first initiated selling to new ES lows near the 1303.50 level. The good thing is that you made money on the trade and that is the objective for entries.
LONG liquidation through 1303.50 with Dow selling and "dive-klaxon" siren in the background. ES had the "delta" about -62,000 net negative as we touched 1301.00
hahaha Well that one obviously didn't work out to well. I'm down -1 pt on the week and I'll be looking for the markets to reverse the downside. Best, JJ
It could have been the case, though I hope you would agree that others were ready for a pullback to daily 20MA and a perhaps remote possibility of a continuation sell-off from May 2006. Who knows?
Yes anything is possible, and also remember how weak the EU markets had been for two nights in a row and then the sell reaction to the early a.m. news releases.......it was just time to take some profits from our several week long low volume rally.
For Thursday, 09/07/06 Market Status Pivot Trend: Bearish 1st Resistance: 1311 Median Pivot: 1306 1st Support: 1297 Current Trend: Up *** Wednesday was crash & burn. The day caught a lot of the Bulls by surprise (including yours truly). Though the trend has changed to Bearish, we are currently sitting on S1 at 1298. I anticpate the market's moving back up to at least 1306 (median pivot), before the selling starts again. See you at the open. Best Regards, Jimmy Jam