Finished up when you did , actually just woke up, tried having a quick nap just now, dunno if its worked though, still pretty tired....you watching it now? Just tanked big time, 60000+ volume and down @ 906 in 15m.
Ahh, unemployment rate rose. This should be interesting, wish I was awake before now haha
Damn missed the open and close. Also some easy trades as well by the look of it
I will have to add coffee to my bag of tricks
Yeah I missed the close too, got the open though, there was indeed some nice entries, about an 8 point move down in the last part of the session.
Couple of red bulls next time
SC you ever hold S&P overnight(day)?
Nope never, I'm usually in and out in a few minutes....hour or two at the most, depending on the analysis and move, if the longer time frames are showing signs of a decent move then I'll stay in, but if its a quick jump in and out against the trend(which I try not to do) then it will be a few minutes.
I've heard too many horror stories of people holding overnight, and my father actually did it, so its something I don't want to do.
You?
Yeah, I'm the same.
One time I accidentally left a cfd trade on overnight on one of the indexes (when I was just starting out on cfds). Lucky for me the market moved in my favor and I woke up to 7k the next day, could have easily been a horror story.
I don't know how Ivant manages to sleep at night with his trades left on for weeks.
Here is a nice little trade I watched last night, was fairly quiet obviously with US on holiday, still had a nice little setup though that I jotted down live. Nothing major but I was happy with how it went, considering my skill level
Heres how it went for those interested......
nice work......pity the asf threads don't allow me to give kudos....3 lower closes on each bar...but, the real answer lays within the prior 3 red bars....failure to get higher....this allows you to look for info from the new low (not completed in the pic) and to see what volume is there from s/d ....although the s/r origines are unlikely to play out at that time of day with no cash hours and holidays etc, the ideas to get supply or distribute are the same, just from diff players.....allowing the test of the supply.....the overall view is sell into the upmove, test test level, who'll follow.... the second move up is weak and the larger players sell straight into that....this tends to show where the lean is....are the larger players gaining supply or gaining liquidity?.....the point is to allow the trade to confrm an exit, giving you room to allow profit to come to the pos......and so you can better read the flow of the bars....mechanising the market is fine, within the range established .....moving the time frame up allows you to take on more of the flow and allows you to see if the moves are an attempt to break-out and in combining the larger time frame you can narrate the bigger picture, again, allowing the pos freedom to take more....there are a lot of actions within this corrective cluster and the further back you go the more likely you can decide if the prior red bars are saying the larger players having left already and which bars are either head-fakes or weak sup/dem ....you don't know, until confirmed, how far the move is going.....allow your pos to benefit with a reverse signal.....a confirmed get-out is as valuable as a confirmed get-in signal if you are going to mechanise.....telling the story of a larger s/r and s/d that surrounds the move youre looking to enter may change your view on exiting too early....
and the only reason I got out of that trade is because the latest bar on that screenshot is actually the market closed. I don't want to be holding overnight or especially over weekends.
Are you saying I need to look at larger timeframes? And stay in the trade longer?
I'm watching 5 timeframes on the ES, and the only reason I got out of that trade is because the latest bar on that screenshot is actually the market closed, I got out on the previous bar on the low of the small range it was trading in, I don't want to be holding overnight or especially over weekends.
How would you handle this? You do longer term trades?
Might have missed that piece of info off the chart.
Sorry mo, I didn't think it was relevant as I was already out of the trade by then.
Lol I missed it as well. Nice trade btw
Whothewhatthe? What did you miss? haha now im really confused
Thanks btwyou having a go tonight? or the close in the morning? or missing both? lol
Yeah was some nice moves last night mo, did you stay up and catch any more? Got that nice 3 point move down from 889 to 886, you got some longs on the open didn't you? I enjoyed watchin the 1m actually, gotta keep sharp though, which is harder than it sounds at midnight
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