1/n Many have asked about my position sizing and price action trading strategy
There is nothing proprietary in this but this is the distilled knowledge that I have gathered from trading and from learning from my mistakes and losses..
If you are under 50 & gainfully employed & hv a fair job security then u shld hope for a crash. U will hv a golden chance to scale in.. AND $ES is my savior 🙏🏼🔥up or down..
Playing the markets also means not playing unless the setup is present.. more money is more easily lost because u want to believe in a set up when it’s not there $ES
@Adamoption U run a sub service ? And u expect people to buy 500 conts on your alert!! Seriously!! Anything goes here.. & hw do we know this is not a demo account tht u r using ?
Gm, taking cash home shld not be an afterthought because u were waiting for the markets to go up … when it’s up then u derisk.. if it still goes up, u can always reenter.. the only win in the market is when u r able to take cash home… $ES
Last time $ES touched its 20dma on daily was on 7/10; it’s at 4532 now. So even a near 80-100 pts down from here maintains bullish bias. August will make $ES visit its home at 20 dma.
When gurus who r short r in massive losses they start talking about life & living as if they r so beyond worldly matters- clear sign that they have capitulated-soon they will buy long-another sign that will show the market top & some reversal upcoming $ES
Last time $ES touched its 20dma on daily was on 7/10; it’s at 4532 now. So even a near 80-100 pts down from here maintains bullish bias. August will make $ES visit its home at 20 dma.
$ES to 4640 then consider Aug seasonality next. Some down then. But always play the upside. No one wants to crash the markets. Even if wild down it sure will rise up. Now this doesn’t mean u don’t take shorts but counter trading a trend is bad.
Shorts lost their shorts again-there r a huge no. of countertraders who r shorting $ES in face of a strong bull market; asc triangle which almost always has a bullish breakout..Hw much can u add on those short positions? Does retail hv that liquidity? Bottomline play the trend
Shorts lost their shorts again-there r a huge no. of countertraders who r shorting $ES in face of a strong bull market; asc triangle which almost always has a bullish breakout..Hw much can u add on those short positions? Does retail hv that liquidity? Bottomline play the trend
Standard formula for futures names
F=Jan, G=Feb, H=Mar, J=Apr, K=May, M=June, N=July, Q=Aug, U=Sep, V=Oct, X=Nov, Z=Dec
Since $ES has four contract periods in a year, we have the U now & it is U 3 bc the 3 stands for the year which is 202(3).