i hope they wont bought some below 10400. this selloff was a behavior of a not too efficient market. I was thinking at 15 pm if it goes under 10500 it will be very ugly there will be no buyers. Unfortunately i didn't trust myself on that. Started buying at 10480, and put in an order for 10460 limit buy "if there would be a big stoploss slide". how stupid i was. We got to learn from this: less buying or we can run into these kind of quick selloff
Asked you on the other thread but are you sure ? That's really bad if true. I was short but I hate to see people get burned like this!
Just out of curiosity and not out of critisism, why would you be buying today? Seems as if there was so much bad news a sell off was due. Just interested in others thought processes.
Stolen from poker. "If you can't spot the fish in the first 20 minutes of the game, it's you" Nice try though!
Hi there, trading YM all the way from Paris-France. I was (stupidly) long when the market went down. I did two things : notice the level at which the fall started (10470) and looked at NQ I noticed NQ wasnt following YM in its fall so i concluded to a market "misbehavior". So i decided to wait 10 more seconds after it reached 10300 and place a sell order at 10460 (10 points below the level it started its fall). By the time i placed the order, i was made à 10468. I think i got pretty lucky. Question to the traders out there : how can one get protected from such a spike using a system ?.. lets assume my system had a stop order in the market, would you say once this order is triggered, the system should immediaty place a buy stop order 30/40 pts above for the next 30 secs ? Cheers.
You were very wise and you did not panic that's very good. It was pretty obvious 10 seconds into the drop something was not right and it was a bad order or something, Your best bet would to place a stop limit to protect your self from this kind of thing but they are very rare.
Seems to me it's like seeing a cliff, driving over it and and then complaining on the way down you are falling. This top has been setting up since the 6th and confirmed yesterday afternoon about 1 pm EDT. It's been in free fall every since. If you were long you were either asleep, not paying attention or can't read price. That means that those who can read price, were paying attention and weren't asleep took the spike in stride. When the man-hole bounce completed, price continued on it's current trajectory. Down!