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Minor tidbits of interest.. the HOD is resistance against that IBL... if we go up there then all bets short are off...

 

I do not like these markets since countertrend rotation is probable over lunch... I am going to hold my position since there is no percentage in bailing for me... it might be expensive...

 

The current LOD is not a "good low," so we might revisit it either today or in the not too distant future...hopefully today... :confused:

 

That's all I think I know... :missy:

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  joshdance said:
I'm out of this, and probably off for a break.... crappy market + crappy trading => crappy results

 

Don't blame you... wish I was going with ya...

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My area of interest here on the rotation is 68.75... ish..on the outside.. hopefully that will about do it for the upside..if not then it won't be a very pleasent experience... :2c:

 

This thing can go anywhere, of course.. if we make new lows than the 59.00 area could be an extended target but I will be gone before that if this trade works..right now - Punt..

Edited by roztom

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Sorry for after the fact, but I bought 66.50 on the rotation to 66 .. was a bit worried but now stop is at BE, just ahead of beige book and budget balance .. wanted to scale 69 but holding above the open so will hold and look for 71.50 and then 73 .. will stop out at 66.50

 

EDIT: out at BE, damn this market today, what shit. Due to terrible timing, I have consistently failed to have good trades. I keep forgetting, this is a 6.50 range day so far...

Edited by joshdance

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  joshdance said:
Sorry for after the fact, but I bought 66.50 on the rotation to 66 .. was a bit worried but now stop is at BE, just ahead of beige book and budget balance .. wanted to scale 69 but holding above the open so will hold and look for 71.50 and then 73 .. will stop out at 66.50

 

Hopefully one of us comes out of this ok...

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  joshdance said:
Sorry for after the fact, but I bought 66.50 on the rotation to 66 .. was a bit worried but now stop is at BE, just ahead of beige book and budget balance .. wanted to scale 69 but holding above the open so will hold and look for 71.50 and then 73 .. will stop out at 66.50

 

EDIT: out at BE, damn this market today, what shit.

 

I'd be thrilled to have B/E on any of my trades today so far..just been miserable... :helloooo:

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  joshdance said:
Bought 66.50 again. ...

 

Going to get a little food.. some of my best trades are when I'm not here to muck them up :) Stop is 65, will reverse short there, target is 71.50 on all units.

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  joshdance said:
Going to get a little food.. some of my best trades are when I'm not here to muck them up :) Stop is 65, will reverse short there, target is 71.50 on all units.

 

Did indeed get stopped out, and did indeed reverse to short. Now I am flat, and done for the day. See you all tomorrow.

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  joshdance said:
Is this ratio widely used, or of your own creation? Do you also chart the dow as a ratio?

 

The SPUN is just NQ/ES. I don't know what spread ratio people use to trade it right now. 6:5? 3:2? Not sure. Tom could probably find out from someone I am sure ;)

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  TheNegotiator said:
The SPUN is just NQ/ES. I don't know what spread ratio people use to trade it right now. 6:5? 3:2? Not sure. Tom could probably find out from someone I am sure ;)

 

You're not saying this is some tradeable instrument are you? Sorry I'm confused... what do you mean the spread ratio that people use to trade it? :missy:

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  joshdance said:
You're not saying this is some tradeable instrument are you? Sorry I'm confused... what do you mean the spread ratio that people use to trade it? :missy:

 

N: Is there spread margin ES/NQ or only ES/ES, NQ/NQ? It's been so long I don't remember...

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  joshdance said:
You're not saying this is some tradeable instrument are you? Sorry I'm confused... what do you mean the spread ratio that people use to trade it? :missy:

 

People trade the spread between them. So you buy one and sell the other. The leader is the one you want to be on the right side of. So if NQ is moving up more quickly relative to the ES (and the "normal" relationship) then you'd buy NQ and sell ES. You have to trade different amounts though to normalise for volatility and contract differences.

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  roztom said:
N: Is there spread margin ES/NQ or only ES/ES, NQ/NQ? It's been so long I don't remember...

 

I don't believe so but could be very wrong! ES/ES or NQ/NQ are calendar spreads and are exchange quoted I think. If you were just spreading though, you should be able to negotiate a much better rate. But I don't know. I have never traded spreads in these products, but I like to be aware of them.

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  TheNegotiator said:
I don't believe so but could be very wrong! ES/ES or NQ/NQ are calendar spreads and are exchange quoted I think. If you were just spreading though, you should be able to negotiate a much better rate. But I don't know. I have never traded spreads in these products, but I like to be aware of them.

 

When I traded currency pairs we had spread margin but I don't remember on the indices... I never spread them..

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BTW, on my last unit on my short...remember that...like it was last week.. I have a resting order 61.00 or MOC or B/E... NO matter what today stunk... actually I stunk messed it up by not bputting one line on my chart for the IBL..that was the spot..problem with this type of error is not based in hindsight - It was an area I looked at to sell against and then I "forgot" it.. :crap: I hate losing because of my own avoidable errors... no excuse for it...

 

Bailed 64.75 on last unit... still doesn't get me whole but at least there is a little salve for today's nonsense...

Edited by roztom

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