Basher... hehe, that runaway gap sure pissed you off... I am still waiting for the answer how we are supposed to play that Black swan event... Read my previous post, I explained why I am long. I gave 3 reasons. Also I am already up 16 points BEFORE midnight, went long just before the close....
Stops are for when mrc fails. There is no way it can never fail or never be wrong. IMO if I was up 16 I would take it while I could. Market is weak my friend.
You were right. I am back at breakeven and there is an economic release coming. By the way futures dropped a funky 20 points at 3 am... Something happened at that time... Although I think the gap is going to get filled, because 2 breakaway gaps in a row is improbable, although never say never...
pek....."something happened at that time"..........very good boy................THE PRICE WENT DOWN.......THAT'S WHAT HAPPENED pekky my friend.......LOL.......just kidding.....had to wake myself up..........quit trying to figure out why............why is irrelevant.....why is the biggest trap of all besides when.....why and when don['t matter............guessing and anticipating.....1st cousins........i don't like them anymore..........however u do it make a pile of money trading .........i hope that happens to all here...........
Why is easy probally 90% of the time. Prices do what they do because smart money do what it do when matter if you have a position
OK, guys let's see how I did. Mind you, these are 3 different predictions, so let's break it up: 1. We are going to gap up 15-20 points. Not exactly true. But since I went long before the close at 10997, I was never really in the red. I closed out with 7 points gains, pulled too early because I don't stick to my predictions! 2. We will go higher and top between 9:45 and 10. Very true, we had 2 tops one at 9: 38 and a lower one at 9:55. Again, I didn't stick to my own prediction and I went short a bit early and made 10 points. 3. Market will drop 20-30 from that top. Very true, we are down by 30+ points. So out of 3, 2 were perfect predictions and even on the 3rd I didn't lose money. My weakness is that I don't stick to my own predictions, even that they are correct 75% of the time... There is even a quote on my monitor :Suspend disbelief!