Just to show how crazy these markets are, Sth Korea Kospi futures have hit trading limits three times in the last few days. Limit up today and two days ago and limit down before that. Kospi closed +5.2% today. Nikkei is down -6% currently. Totally out of whack.
Then this is a good sign - you have the discipline and the skill to stay out of a market that you feel has too much risk for marginal reward. Only losing speculators 'need' to be fully in the market at all times.
Yeah - the asian markets were obliterated in this sell off - so you can expect violent rallies...i'm not surprised. Take a look at China...total insanity.
I don't know about you guys but I hope this volatility never dies down - at least, never dies down below a certain point. Strategies that rely on fixed mathematical relationships and magic numbers will fail - as they do every time the underlying conditions change. That's the risk of using such a system. IMO these are the best conceivable operating conditions for chart/price action traders. Yesterday the EOD rally on ES rocketed 30-40 points to hit the 20-day MA to the tick. The day before you could have made 80 points in an hour with one buy, and one sell. The basic rules and tendencies of the market are still in play, just the swings are much bigger. Not on your life do I wish for a return to the era of 10 point daily ranges. 2004-2007 looks like it would have been incredibly slow, boring, and devoid of the opportunities that separate the trader from the overleveraged buy-and-holder. Luckily, it looks like we won't be seeing another bull market for many years.
F**kin' sweet, ah? Doesn't this "fed up with these 500 point moves" sentiment just sum up so many people at ET? Bottom line they don't really want to engage with the market. Volatility, swings,waves - and the bigger and faster intraday the better - is how you make your fortune. If already well ahead then you are adding to your fortune daily.
I think you're right -- short ban day was the day that things got really weird. I wonder how long it will be before things will hit "normal" again -- or maybe a "new normal", which I can only guess at. One worst case, in my opinion, would be a severe political backlash against all of "Wall Street" (i.e. including most of us here who had nothing to do with CDS's, CDO's and any type of commerical or investment banking), but I doubt it will go that far, especially if the economy does stabilize..
Youâre an idiot, 500 point moves in 11 min sorry these moves and trying to play them is gambling, Fortunes are made in trends. Itâs so funny how hedge funds and investment banks some of the best capitalized traders are loosing the ass, guess they need to give Champion a ring.
Another up day. This market only knows one direction since last friday: UP. And it will continue that way for well over a year. The official bottom of the brief 12 month bear market was october 10Th. ALL econ data and earnings reports have been better than projected and no more credit and mortgage news. No more blowups. All is well. A 'v' shaped recovery is assured. No more shoes to drop. Sorry but fundamentals trump technicals.
i scalp off momentum buying/selling....so this volatility is ok for me but still nerve wracking...i would prefer more stability but whatever...not making big bucks just staying alive-thats my main goal.MAde about 180$ so far today and might be calling it quits for the day...i dont know how anybody can trade other than scalping-its way dangerous...im playing 10-40 cent moves-dont know how ta will help you in this insanity ...im just price action now...good luck btw,i did buy small longs in fcx,nyx at about 23$ ...i dont htink about them since they are such puke positions-jsut gambling crap that i dont care if they tank...no way i could buy and hold 200,500,1000 or even 100 shares...