MightyMouse

I have 4 22 and 23 inch monitors that I use for trading. I wish you well with a 3.5 inch screen.

I don't trade ES intraday on most days since it exhibits the qualities you describe. On the days that it does move intraday, other markets are exhibiting even better moves than es, so I focus on the others. The phenomena you describe is true in the RTH not not true non RTH. For a trader who trades the way I do (I detest catching the knife), he is better off trading ES in the overnight and not trading the RTH if he has to trade ES at all.

As an FYI, since you mentioned etfs, you can only effectively hedge with futures or options. In spite of the liquidity of spy and dia, they are not always available to short.

I need a little more love than I am getting.

A guy I know uses support and resistance levels from prior years on a continuous contract and has claimed that ES reverses "to the tick" at old S/R levels. Curiously, the level he is talking about never existed.

You might want to consider asking Steve46. He will be the one who can give you the most direct answer.

Holding everything else constant, moving a stop to break even once a trade is profitable will lead to lost opportunities and lots of small losses. Large wins are still very possible. The use of a stop, anywhere in a trade, generally, eliminates the possibility of a large loss. You need to make additional assumptions about the trader's behavior to arrive at your claim. If they are moving their stops and letting losses run for fear of being wrong, then, yes, they will have large losses. If they are getting out of gains too early, then, yes, they will have small gains. But moving a stop to BE by itself will not cause what you claim. You need to combine it with other insecure trading behaviors.

There is absolutely nothing wrong with moving a stop to breakeven as long as the trader is willing to accept the potential consequences of such action. If you are going to take an action and then cry about it, then you aren't ready for trading in the first place. Your logic is crazy flawed. The market makers will seek stop orders no matter where you put them; besides, your stop loss order of 5, 6, or 8 ticks could very well be my BE stop order. Your quoted statement makes no sense. Sorry.

He would want to know how well, say, A9s holds up preflop when there are 5 players seeing the flop and he called and was raised.

These small ranges are simply pathetic. It's easy to start trading rags on days like today.

I was wondering how the women's thong underwear ad was following me around.

I sincerely appreciate an agile mind.

Expect it not to work from time to time and you will make money.

I don't think you could find someone to litigate Steve on battery charges for his suggesting that you are setting yourself up to be batted around like a game of "whack a mole". If you really feel like he is slapping you, then slap him back.

Do not take this the wrong way, but if you think good traders are better than great traders and you strive to be a good trader and not a great trader, then I think you are missing the point of the whole post.

We can create the perfect children for them to play with. This way the other children won't insult their intelligence and cause them to be mean.

I have told you I am still short like you asked. I am short from above 1.30 and I added when it broke through 1.26 and I plan to add again when it breaks through 1.18 and so on. It took me 3 tries to get short. I have referenced these entries and planned entries on other threads. I started shorting in early march. I also mentioned that on other threads. I shorted the Euro because it looked like the perfect storm. Shit fundamentals and the chart looked like it was in a going to break out of that range that was largely bound by 1.3. I mentioned that on other threads too. It still looks like shit fundamentals and we are in a down trend. In such a situation I want to be short. It's all pretty simple and most people can do it. You are seeing me ride the winning part of the trade. I took 2 small losers to get positioned, which have passed. I have about a 7:1 gain right now on the entire trade concept, I have been continuously short since march and as I noted in the other post I am staying short and will do exactly what I outlined. My stop is mid 1.27 No magic. Nothing to hide. Very simple trading and trade management combined with confidence, discipline, and patience. If I get stopped out, then you can add stupidity to the list too.

Still short. I am viewing the recent events as a normal release of demand after a decent move down. I will want to add when we go below 1.18ish, likely the second time through if there is a second time; otherwise, I will add further below 1.18. If we get stuck here and we continue to balance for an extended period, I might exit my short and enter again if we break out below the low of the year. Exiting voluntarily isn't something I would do until about the end of September. I could, of course, get stopped out and I will do the I coulda woulda shoulda bullshit. If I were to reverse i would want to see that it has balanced and shown signs of reversal and not just a few up days. A break out up out of balance after a down move like this is very, very deceptive. So, I would want to see it successfully fail to go back into the balance area. I care less if I miss part of the move.

It seems to me that over the last few days that a decent amount of supply has been removed from the market. It's not clear to me if more will enter or if we have found enough demand to take it to a higher high. I won't and don't bottom fish but I would look to take a long at about 1414 if the overnight 1398 low holds and other particulars are evident. If they are, I think we'll get at least mid 1400's before the close of the quarter. That will be a decent enough R:R for me to cast a line. If 1398 doesn't hold, I will most likely still want to enter long, but it will be from a lower price than 1414.

Predictor, I enjoy the way you flip from promoting Neo Nazi designs of a perfectly intelligent race, to the socialistic utopian ideals of anti-elitism. An excellent display of mental gymnastics. It's all good as long as you don't get paralyzed falling off the balance bean. I would hate to, one day, find you sitting in a wheel char with a dog on your lap, streaming nonsensical utterances mixed with an occasional Bob Dylan lyric, not knowing why you are there or how you got there. MM

I am scared now that you want to be short.

I had nightmare situation trying to leg out of an option trade on expiration day while at an aquarium with my family a few years ago. I couldn't pay any attention to my kids and my wife was steaming. I thought I would have been out of the position before we were planning on going. F my wife she is always steaming about something. I have long term trades which I am able to vacation with, but no more short term stuff.

Human arrogance gets in the way of everything.

Well, clearly I would want to take longs only for the next few weeks as long as it stayed below 1460. But, without using other derivatives, I do not see a smart way to take advantage of the foreknowledge using futures; at least, not without considering the unlikely.

I really do not know what would be gained from back testing. Price at time is known, the volatility beforehand is not know and that is the problem. You could blow your whole account in futures between now and then trying to take advantage of the known fact that the market will be at 1460 ( I say 1455). Suggesting that you wait for a pull back is silly since there may not be one and you can miss the whole move. No one said it can't ever go higher than 1460 in the interim either. You can't add every time it moves against you since there is no cap to how low it can go before it reaches its final destination. We can then say about you that you were right, but you ran out of money. It really seems like futures is the wrong way to do it. Options or bust. I am assuming that price history is not available in this magical newspaper.