It was $500. The guy has been blowing smoke and laughing at you bc nobody would bother to get it vetted. Apparently I care to the tune of $500.
. No argument here ... and I think that pulling stops and excessively large stops in general indicates a poor edge or even lack of edge. I shorted ES on Monday for a 3-5 day swing, it was a poor, late entry but I still only needed a 20 point stop and no need to pull it - if it is hit, I want out. In fact, the only time I pull a stop overnight is when it is the first day of the trade and I have a great entry but the market closes within .5 ATR of the stop ... as you know there are high odds of an overnight tick fvck under those circumstances. EDIT: Even in those case I will have a stop in the market, but it will be large enough to prevent me from losing my position during normal S/R probes.
This is an edge: Day trading and long term trading simultaneously. Playing 18 holes of golf whilst day trading. Making numerous and continual short calls while market is rising. Wide stops on futures. Jubilation and self congratulation when making small profit, dead silence on losses. Using RSI and BB believing these indicators or any lagging indicators are reliable signal generators. No idea on market sentiment other than following mass media market top calls. Believing that contrary trading will result in large profits. Believing that:
This may be the massive double or triple top sell signal that many no doubt think it is, B1, and I am short for a swing - but I'm looking to cover today, tomorrow ... soon. I doubt this gets any lower than 2850, and even that is likely pushing it (I'm thinking 2900 +/- down to 2870's). Anything can happen, but if you are itching to short, why not wait for the next rally. Better yet, take your bias down for a moment and maybe enjoy some easy bull chips on the next rally. It is a bull market until it says it isn't - nothing you or I or anyone else can say to make it otherwise. Good luck!
Maybe just maybe B1 is the master troll, sucking us all in on ficticious calls and having the last laugh. ROFLMAO