Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Amazing what "a little bit of Jessica," and china will do overnight. Here is my morning chart, but I think, its all news today. Markets will most probably have wide swings on every tweet/breaking news. So, I was wrong, markets are anything but boring today!
Here is a trade that I would normally do based on channel support/resistance. But notice the volume on the up bar is much higher ( Same on the ES) than the one on the down bar. We are maybe going up soon, but would like some (positive) news confirmation.
I really don't like Gap down days and have never been able to trade them well. Today was no exception. Everything looks easy now, but I could not find a good entry point. I had few planned, but either the price broke these levels with ease, which scared me, or I just did not pull the trigger. There were also a couple of breaking news, but I thought they were just a re-hash, nothing new. It was a mistake not the short additional bad news.
No MES trades, just the spread trade earlier.
I am only up $16 for the day!
Chart explanation:
1) It was a good long and should have taken for the daily goal. I did not. since it did not reach the line.
2) I had planned a long but price broke support with ease, so I back out.
I really cannot pull the trigger on anything. Any kind of news will kill any set up or S/R on any TF. I did see a good set up last night ( long MES), but did not feel like staying up all night looking for news . I am just watching the news and if anything breaks either way, I will join in. I did buy some weekly Apple calls ( exp in 3 days). There was a good set up on the daily. Total risk there is about $200.
I did not trust any of my VSA/PA set ups today. It seems like a day were everyone waiting on a tweet! I did trade the news some in the morning and lunch ( around work). Basically, I wait for breaking news and add to winners as price moves. This is for MES. There is one trade for CL and that was a mistake. I clicked the wrong instrument. I got out as soon as I could and luckily, I was out with a tick. No spreads today. My AAPL calls ( 2) are down a total of $89 as of this post.
Again, just news trading today and one spread. The spread closed only at +$27 only as NQ was moving very fast. I am still holding the AAPL calls and did buy cheap CL out of the money calls as well. I have the feeling that both of these instruments are over done and should see a bounce back soon.
I am up $158 today and will stop at that get back to work. Easy day, with low stress and draw.