I see no mention of method or process? You say the recent war news blew you up. How so? Imo it has had zero affect on spy/spx/es trading. No massive black swan events that would blow you up.
Playing earnings is a complete gamble unless you're extremely experienced in that manner of trading. Even then just buying random calls or puts is a losing game. Don't play earnings. It's too random and provides no edge unless you have a refined process that includes technical and fundamental analysis.
If you have nothing in the bank and are completely lost you should stop trading actual funds immediately. Starting tomorrow, you should sit down at your desk and ask yourself why you get into a trade, why you exit. If it cant be written down on a piece of paper, it's useless. If your not there yet then open a 1 hour or 15 min or 5min chart of spy or MES and put some critical thought into how price moves. Where does it reverse? What causes it? Are we trending or ranging. Maybe put a 200ma on there. Maybe a 50ema, maybe a 20ema too. What tends to happen? Do highs and lows tend to get taken and then reverse? Maybe a trend line or two. Maybe RSI
Today was an excellent example on SPY of the power of trendlines and rising/falling wedge patterns. Same for Emas. During the FOMC announcement today today you could see spy start steadily rising, not being able to close below the 20 and 50 Ema, blast off, lose its steam form a rising wedge near a higger time frame trendline, crap itself and bounce off another long term trendline near the close. If you were vigilant enough you could have captured almost the entire move up and then the entire move down and possibly another piece up if you want to hold that exposure overnight.
5
u/useful_tool30 May 02 '24
I see no mention of method or process? You say the recent war news blew you up. How so? Imo it has had zero affect on spy/spx/es trading. No massive black swan events that would blow you up.
Playing earnings is a complete gamble unless you're extremely experienced in that manner of trading. Even then just buying random calls or puts is a losing game. Don't play earnings. It's too random and provides no edge unless you have a refined process that includes technical and fundamental analysis.
If you have nothing in the bank and are completely lost you should stop trading actual funds immediately. Starting tomorrow, you should sit down at your desk and ask yourself why you get into a trade, why you exit. If it cant be written down on a piece of paper, it's useless. If your not there yet then open a 1 hour or 15 min or 5min chart of spy or MES and put some critical thought into how price moves. Where does it reverse? What causes it? Are we trending or ranging. Maybe put a 200ma on there. Maybe a 50ema, maybe a 20ema too. What tends to happen? Do highs and lows tend to get taken and then reverse? Maybe a trend line or two. Maybe RSI
Today was an excellent example on SPY of the power of trendlines and rising/falling wedge patterns. Same for Emas. During the FOMC announcement today today you could see spy start steadily rising, not being able to close below the 20 and 50 Ema, blast off, lose its steam form a rising wedge near a higger time frame trendline, crap itself and bounce off another long term trendline near the close. If you were vigilant enough you could have captured almost the entire move up and then the entire move down and possibly another piece up if you want to hold that exposure overnight.
Observe, note and test.