S&P 500 & other indexes - intraday. Plus chat

Another disappointing profit but profit, it is. I'm trying to eliminate profits running into losses. When I am 50% of what I could have made, I cut it, or try to. Just an experiment at present.
 
Splitlink said:
Another disappointing profit but profit, it is. I'm trying to eliminate profits running into losses. When I am 50% of what I could have made, I cut it, or try to. Just an experiment at present.
Click to expand...

This is why I scale - but then again, I have been in the habit of taking trades INTO areas I determine as potential reversal points pre-market.

So - I go long into an area I want to sell just because the long opportunity comes first.

I promised myself to NOT do this in September but have so far failed miserably. I think it's a disease.

Anyway - point being that I scale out for exactly the reason you outline above. I'm also considering the merits of scaling in.

Trouble is - I think it's very hard to assess which is better without actually doing it. You really do need a lot of stats to go back over your history to see how another management technique would have worked out - OR you need to go over the charts by hand. Certainly I've found no decent way of journaling where you could do a "what if" analysis on your old trades.

For instance, what if I changed my stops? Your journal doesn't contain the price action so to assess stop widening, you have to trawl the charts.

Problem with any new technique is that you will almost certainly suck at it when you first apply it - so it takes time to allow new techniques to 'bed in'....

I would love to find some research on scale in vs scale out vs all-in/all-out - when one would be better etc... but I know not of any such research - especially as it pertains to short term trading.
 
Apparently they are thinking of banning High Frequency Trading as it may be unfair. Some allege queue jumping.
 
Pat494 said:
Apparently they are thinking of banning High Frequency Trading as it may be unfair. Some allege queue jumping.
Click to expand...

Well - HFT is a fairly broad term....

I personally would not want to see 60-70% of the volume disappearing from the market. I would completely have to rethink the way I look @ things...
 
That 5 point stop took me out of the trade. I did have a hard stop of 10 points. I should have left it on because 5 was just above the high and the market went up to clean all the stops out and dropped back, again. Lost -2 on the dayt, 3 trades. I don't know why I do it.
 
Splitlink said:
That 5 point stop took me out of the trade. I did have a hard stop of 10 points. I should have left it on because 5 was just above the high and the market went up to clean all the stops out and dropped back, again. Lost -2 on the dayt, 3 trades. I don't know why I do it.
Click to expand...

Stops are for busses.
Find an alternative way.:)
 
Splitlink said:
:) I agree, stops are a nuisance but I've thought out a great scheme where a stop, 40 points away, would never get taken,

The first time I tried it I got stopped out :cry:

I prefer to keep them close and try again.
Click to expand...

Tried it once :LOL:
Yep a great sample there split.(y)
 
Fri Sep 21

1:00am AUD CB Leading Index m/m 0.0% 0.5%
4:00am NZD Credit Card Spending y/y 1.9% 0.0%
8:30am CHF SNB Quarterly Bulletin
9:30am GBP Public Sector Net Borrowing 13.2B -1.8B
1:30pm CAD Core CPI m/m 0.3% -0.1%
1:30pm CAD CPI m/m 0.4% -0.1%
1:30pm CAD Wholesale Sales m/m -0.1% -0.1%
2:00pm EUR Belgium NBB Business Climate -11.1 -11.8
5:40pm USD FOMC Member Lockhart Speaks

Not much on today

:sleep:
 
Sexy UST is showing a right shoulder again this morning? Will she show it all? Looks good up close. 3M TF.
 
September 21st

Asia up, Europe mixed
We have a range now. 1443.50-1468. Looks like we are holding these levels for now. Obviously if we break this range either side we could have a runner
Value area of the range is 1450.75-1459.25 which is a quite narrow to consider expensive above, cheap below but it is what it is.

So –unless we have a trend day, short bias above 1459.25, long bias below 1450.75

9-21-20128-28-51AM_zpsad4aab9f.png



Above average volume overnight. All overnight action above yesterdays close. Above value and lots of overnight longs.

Mechanical Levels
YH – 1455, YL – 1443.50, YC – 1454, ONL – 1453.50, ONH 1460.25

Shorts – 1468 (yr high), 1462.25, 1460
Longs – 1454, 1453.50, 1449.75, 1443.50, 1442.50, 1443.25
 
lol @ the market bouncing off 1462.25 @ 9:28 FFS....

No way I'd take a trade 2 mins before the open

and they say it's not out to get you...


1458 is looking thick - not sure if it's fake or not BUT it's not a level and I'm going to pass despite my trigger finger.
 
Pat494 said:
Apparently they are thinking of banning High Frequency Trading as it may be unfair. Some allege queue jumping.
Click to expand...

lol, till you read that the one of the guys on the committee (senator I believe) is heavily funded by Goldieman Shacks!

Is scandalous that NYSE have different pipelines for different customers, that's the front-running their talking about. There does need to be something done though, personally I think it is wrong that people are paid to put in orders (market make) but they in reality have no desire to get filled. Nanex are pretty on the ball with this stuff, some of the things they've pointed to really make you wonder how some firms have been allowed to get away with behaviour that is essentially criminal!

I don't think HFT should be banned per se but definitely there needs to be greater oversight and regulation, it's really not a good situation!
 
DionysusToast said:
lol @ the market bouncing off 1462.25 @ 9:28 FFS....

No way I'd take a trade 2 mins before the open

and they say it's not out to get you...


1458 is looking thick - not sure if it's fake or not BUT it's not a level and I'm going to pass despite my trigger finger.
Click to expand...

lol you missed the "itchy" part of the trigger finger description ;)

not that I can talk, got bored overnight and managed to convince myself into shorting at 64....

Given how we bounced yesterday (which defo wasn't my expectation) I'm not overly convinced but i've a 3:1 ratio in terms of TP to SL so shouldn't cost too much to be wrong lol
 
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