Taking this business for granted gets traders in trouble.
Just when it looks so easy, it isn’t.
E: RT @nanexllc: Does everyone have today’s leaked FOMC news already? /if u had a good run would u want to take profits ahead of news? #EMWS
These posts typify the thoughts of many traders. Not being critical of them; just illustrating how challenging this business is even to experienced traders.
A special post was given to active members today as they came in the trading room, showing the kind of accuracy The Emini wizard System can deliver.
Our mantra was play defense… who cares about the last few points, risk and reward better short side in an extended market.
Can we go higher? Of course. Do we want to ASSume we can do it? No. Listen to the cheerleaders, fade ’em.
Don’t play was also set as an idea when the game is rigged.
“Even Bill Gross suggested that.”
Two way trading expected; longs for profit taking; shorts for doing the same ahead of news.
Schemes end badly.
Knowing significant targets helped us see the sweeper trade.
Taking a few days off from blogging, out of the office on Friday.
Best to all, thanks to those of you who find value in my work and appreciate it.
Kudos to eminiplayer, verry savvy technician.
RT @eminiwizard: @eminiplayer brought your best game today… wtg #EMWS $ES_F /// Thanks Dennis!
I am confident viewing calls by professionals like him we must agree there is no random walk.
We suggested sidelines for lunch, avoiding trouble. Protect profits mode in effect, and when price and time align, best to become conservative.
Short side using 88 as resistance, longs 81.25 to the 80.5 potential target. Below that, anything fair game.
E: @GICfutures slip slidin’ away … #EMWS all about risk reward as u know… nice posts #EMWS $ES_F
Bruce, a smart trader deserves more attention.
@GICfutures gets it right most days… should have a lot more followers #EMWS #FF
Follow him. He shares a lot and is professional, not a wannabee.
love the dialogue with some real traders and thinkers out here… well done #EMWS
That comes from the heart. Think about how many insights are shared regularly by a number of traders. Wide variety of styles, similar conclusions.
Sell puts: @eminiwizard goes on in options. sweep the offer aggressively causing auto quoting bids to match.. then turn around and sell into em
Gap Filled OOPS wrong one…
When 81 folds, the gap at 76.5 becomes available after bypassing 78.
Day after day, quietly doing our thing…
Awais: @twitJRA @eminiwizard ES will likely stay in the 1570-1595 Balance Area into Friday’s NFP report (catalyst) #EMWS – will reassess in the AM
Sweeping up the tickets off the floor, time to unwind.
We never talk about that… how do you like to unwind, de-stress?
Other than with your cutie pie… what else works for you?