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EXCELLENTdaytradingES wrote:(re: anon VIX trader)
Gann wrote:
1. never have more than 1/10 of your capital at risk in any one trade.
2. when you have a big win put 1/2 of it in an emergency fund and trade only with the balance.
3. first put in your time in study before your money in the market.
Mnuchin is ex-GS, he knows better1der wrote:QUOTE CNBC Article:
Specifically, Mnuchin said he checked with this staff to "make sure there was orderly market activity. ... I'm happy to report that I got the green light."
I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly".
1der wrote:"
I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly".
True enough. The markets remained open, processing trades. It was the liquidity that evaporated.Shaishen wrote:Depends on definition of orderly. There was no flash crash or any malfunction. Imo it was simply an unexpected sell off, brisk deep sell offs are unexpected. If they were expected there would be no rapid deep sell off. The unprepared will suffer the consequences.1der wrote:"
I would not classify the last ten to fifteen minutes of yesterdays ES regular session or post close as "orderly".
Every fin news outlet will feature all kinds of reason what triggered the sell off. All hindsight, it is being said the market makes the news not the other way around.
I mentioned gaps yesterday and the theory that all gaps get filled eventually. The 11/21/2017 gap seemed so far below I considered it outlandish to ever get there yet it happened in one swoop in less than 24 hours.
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Talking about unprepared, I forgot (go figure) that I had a BTC buy order which got filled on the way down when I was walking my dog.1der wrote:
True enough. The markets remained open, processing trades. It was the liquidity that evaporated.
I was caught off guard by the 10 point plus instant step drops in the ES. I was unprepared for that type of move and suffered the consequences.
Trades with cats wrote:Futurestrader 71 had a lot of screenshots of Bookmap software in his morning briefing today. It was crystal clear the bids and asks away from price were all pulled when the market hit 2700. No way all those algos have the same programing so it has to be an agreement with the exchanges, part of the hunting permit they have to have to front run all our trades. It will be very educational to see at what point the exchanges allow the "liquidity providing" machines to be turned back on. Apparently the markets are too weak to allow the leeches to re-attach.
My fantasy would be someone in congress to hall the heads of the exchanges in and asks why the algos they so vigorously defend had to be turned off during the crisis. But we live In an era where a single bank pays 14 billion in fines for rigging markets but the CEO is still ion charge while a person living in his parents basement goes to jail, in an era where congressional aides are allowed to legally trade on non-public information but a TV personality goes to jail, well I don't need to continue.
It is what it is, we know the game is rigged we are free to play or leave as we see fit, but that doesn't stop me from wishing it was a little more fair. Going on vacation in two weeks, I guess I better re-read Jesse Livermore's bio sitting around the hotel pool to remind me that it has always been this way.
That's almost reversing whole move from yesterday! i.e. point wise..fehro wrote:be very careful.. looking for a possible shocking up move near end of day.. target sloppy pattern SPY 275 .. need serious break up 5m