HMB

this may seem totally unrelated - and I may be missing the point... but above comment made me think about how to use different time frames more systematically (so thanks again!)...: Today I believe was a good example case: after NDX overnight low was finally taken out, I tried to catch an expected rebound early. lost a bit with fake signals I "believed to see" on the 1 min and 10 sec chart.. however the actual rebound was then indicated by higher lows in the one second chart. probably this was highly dependent on the circumstances today though (Don Quarantino vs Stimulating Nancy...), the extent of the drop, Friday afternoon, etc. nevertheless will try to keep this (always checking the shorter time frame chart before opening/closing a trade) as a component of a - slightly - more systematic approach..

closed this - need a break..

Thanks, I understand. Maybe this is generally true, I genuinely don't know. It would have run further this time, sure, but I've seen my profits melting away often enough.

what do you mean? sorry, I don't get how this relates to the quote (or the trade)

Apologies again for the typo - really stupid not to check this. maybe should have left the position displayed in the chart as before to avoid misunderstandings. lowered the stop now to 12613.5, simply because this would already be a relatively large gain for a single trade for me, and I somehow sense high probability that someone "messes up" the range expansion pattern/move (like a super rich guy taking money from the very rich...) - it kinda would have worked too well (although Denise Shull points out that it's sometimes the best trades that come with this feeling).

thank you! I guess if you have some experience using these, it becomes more intuitive. I will try to keep an eye on them.

thanks! guess it makes sense to have a view on momentum (i.e. on what momentum traders are likely to do). will keep your assessment of RSI in mind!

ok, how do you use it?

does that work? to me all indicators seem lagging - if I see anything looking at them at all. I need a view of what might happen in the future and why (in other words: anticipate the very rich exploiting opportunities to take money from the less rich). To me at best an indicator works as a self-fulfilling prophecy - which with all the automated trading, indicator trading courses, and guided algorithms may become ever more accurate, admitted. but I I'm not an expert at all. let me try to learn - why is MACD better than RSI? or what does it tell you and when?

typo - 12540 of course, sorry

(...looks like still support around 12600 - reducing size here and moving stop of the remainder to 12635)

range expansion to continue (next target < 13540...)?

short SPX - stop above yesterday's high. looks more like under- than overreaction to me at this stage

Not investment advice...

no, it wasn't you I had in mind with that characterization - but someone much closer to me... obviously you today saw reasons to deviate from the strategy. now you say you never want to do that again. an alternative would maybe be considering this as an experiment, that confirmed (even) under today's circumstances, you should have stuck to the plan - so you've learned something about your strategy which is an improvement. and accept that you might be doing similar experiments in the future, and fine-tune your strategy in this sense. in my case today was the opposite - it was probably the first time that I managed to stick to one rule of my relatively recent plan. I had already managed to stop chasing losses, but today I think was actually the first time I managed to not chase lost winnings.. so don't be too harsh to yourself - if occasionally you deviate from the plan, consider there are people for who sticking to the plan is still a rare occurence...

Yes, I agree. If that is your approach, then it would be inconsistent to deviate under any circumstances. ...which some cynical, ignorant loser might btw label an inherent weakness of strategies that can be back-tested.... strictly speaking its also wrong, of course one could maybe try to come up with a scoring system for the news - e.g. Covid outbreak in China eight bearish points... Mnuch meeting Nancy one and a half volatility point... something like that. for sure there are algos/AI which do that and backtest it constantly... As a human you can only ignore it...

was a genuine question, but I guess the answer is yes?

my biggest mistake today was to miss that this last move was actually the close...! completely forgot about time. I would have expected to have made that mistake 20 years or so ago - but well, instead it had to be today. went long extremely fast - and of course too early... embarrassing - and not cheap..

so what are you gonna do next time? ignore news?

+111 at 16:12:00

...some large buys...

oops, that was quick...

now they'll bring it back to 11400, then it will calm down and I will try a long again.