ChemAg15 said:
I was waiting all day to buy puts at close. Got distracted and missed the chance. Next time
Why though?
You don’t trade for money, you trade for freedom.
ChemAg15 said:
I was waiting all day to buy puts at close. Got distracted and missed the chance. Next time
ChemAg15 said:
I was going to buy puts at close since it was looking like a day where the market was going to creep up til close. 8 EMA crossed the 20 EMA on QQQ today. This happened back in July after a few days of chop. We've gone up and down for about a week and now the 8 EMA is crossing the 20 EMA again. I think we are entering a bear market rally but it starts with a hiccup. I also think the run up over the last few days has been mainly algorithm based since there hasn't really been any good news to base this on. I'm anticipating the MM pulling the rug out before letting the market run up.
$30,000 Millionaire said:
Oh man. Sorry to hear. What happened?
Trend was up. Fomo?
irish pete ag06 said:
I must be too slow when it get above EMAs because I feel like my entries sucked. So then I'd try to cut quick.
irish pete ag06 said:$30,000 Millionaire said:
Oh man. Sorry to hear. What happened?
Trend was up. Fomo?
A little of everything, but yes mainly.
I tried hard not to buy knives (like my old habit) but I must be too slow when it get above EMAs because I feel like my entries sucked. So then I'd try to cut quick.
It was compounded by a late day trade I cut too soon… I cut it for a 50% loss (probably at the low)… I'd seen too many days sell off at the end… if I'd held it would have been a 100% win. That one hurt.
Watching the options charts all day was really inciteful.
if SPX opens up it will usually retest the 21 on the minute chart within the first 30 minutes. It is important to wait for that retest and a few minutes of capitulation. You can usually load +50 point calls for a quick $1-2 on the next move up. Cut if it loses the ema. If it loses if will typically bottom around lunch. Trade the initial retest bounce and a post lunch rally. Been the trend the last several weeks.Bob Knights Paper Hands said:irish pete ag06 said:
I must be too slow when it get above EMAs because I feel like my entries sucked. So then I'd try to cut quick.
This is something this board helped me with tremendously. It was one or more of OA, FJ, 30k, or Foggy that got me to think more about playing the bounce off the pullback. Now I feel confident with 2 entries. Sometimes I may feel confident that I'm an early bird and I'll get in, but often I'll wait for the retest of a pivot, MA, or other resistance that now may be support. Sometimes I'll use both entries as a way to pyramid in as my confidence on the trade grows.
I've missed moves doing that, but I've limited losses as well and it's helped lower the volatility of my trading performance and ultimately helped me close more green days.
Ragoo, you are killing it and getting pro at this. I was curious what indicators you were using, but this helps paint the picture.Ragoo said:if SPX opens up it will usually retest the 21 on the minute chart within the first 30 minutes. It is important to wait for that retest and a few minutes of capitulation. You can usually load +50 point calls for a quick $1-2 on the next move up. Cut if it loses the ema. If it loses if will typically bottom around lunch. Trade the initial retest bounce and a post lunch rally. Been the trend the last several weeks.Bob Knights Paper Hands said:irish pete ag06 said:
I must be too slow when it get above EMAs because I feel like my entries sucked. So then I'd try to cut quick.
This is something this board helped me with tremendously. It was one or more of OA, FJ, 30k, or Foggy that got me to think more about playing the bounce off the pullback. Now I feel confident with 2 entries. Sometimes I may feel confident that I'm an early bird and I'll get in, but often I'll wait for the retest of a pivot, MA, or other resistance that now may be support. Sometimes I'll use both entries as a way to pyramid in as my confidence on the trade grows.
I've missed moves doing that, but I've limited losses as well and it's helped lower the volatility of my trading performance and ultimately helped me close more green days.
Nope$30,000 Millionaire said:
I hope you guys weren't long overnight. Sheesh.
Why you gotta bring up old *****krosch11 said:
Haha I don't venture to F16 Prog I've seen you disappear too often to risk it
Good feedback though. Will be interesting to watch .
You bought the correct candle, the green arrow could have kept going down to lose your ema support. Where you bought, you see the curl up. Went against you for a second but held and took off. Well done, very well executed there. The "curl" is common when breaking out of consolidation.Ragoo said:
Here is a zoom if of SPX on the minute chart. I was a little late wanted to execute at the green arrow but really wanted to see a reversal so bought at the blue candle. Sold them all by the end of the three green candle extension out of the bollinger channel just a few minutes later.
You can see the volume profile too. Matched right along with the movement up.
This week, pattern in #ES_F was a 4 week diamond bottom. I was looking for breakout to 3860-70 then pullback, and we got to 3870 then pulled back. Now, bulls must defend it
— Adam Mancini (@AdamMancini4) October 26, 2022
Plan today: As long as above 3835; 3865, break to 3895+ in play. 3835 fails, we see 3820, 3765-65 (major) https://t.co/B0hX8z7iBR
$BA Boeing posts a HUGE Q3 EPS miss this morning... 👀 ✈️
— TrendSpider (@TrendSpider) October 26, 2022
~EPS $(6.18) vs $0.04 est
~SALES $15.96B vs $17.83B est pic.twitter.com/xG76NLfGDi
I agree with you that Growth Tech will be of value in Dec/Jan, and right now tech money is seeking safety and moving to energy. Energy at some point way down the road will be overdone. Right now,...Bonfire1996 said:
Things are lining up for value plays real nice with recession looming. Those of you that get year end bonuses are in for a treat.
Did you ever think you would see the day that AAPL, MSFT, and maybe even GOOGL could be viewed as value plays? Coming soon with these earnings and macro economic conditions
Quote:
Saudi Arabia has fired off a warning shot aimed at the U.S. as a high-level standoff over crude oil and supply agreements goes public. Prince Abdulaziz bin Salman, the Kingdom's oil minister, accused unnamed countries of using their emergency oil reserves to "manipulate markets rather than helping with shortages of supply." The remarks come after the Biden administration authorized the release of another 15M barrels of crude from the U.S. Strategic Petroleum Reserve as it tries to curb elevated gasoline prices in the wake of production cuts from OPEC+.
Quote: "We, as Saudi Arabia, decided to be the maturer guys," he told the Future Investment Initiative Forum, otherwise known as Davos in the Desert. "It is my profound duty to make it clear to the world that losing emergency stock may become painful in the months to come. Running out of capacity has a much dearer cost than what people can imagine."