People fearmongering about “prop” firms on here. Whatever.
Traders look for broken slot machines. Prop firms were broken for years. They are changing their rules, but trading them can still be profitable.
Who cares about “real trading.” Look for broken slots and manage risk.
From an old notebook entry:
“If price moves XX against my entry, I either have a bad entry on a good trade or a good entry on a bad trade. In either case, I want my stop to take me out.”
Each of my big trading losses has started with moving my stop-loss.
Strong sellers showed up after EU close near 16580s resistance, but now that we’re down here at VWAP, it feels like we’re seeing buying to beat it for the first time this year.
I don’t want to be short over 15525.
Apex offering “no minimum days” on evaluations until 27 Dec.
These rule tweaks / discounts don’t matter for long-term success. Position sizing does.
They will let you trade 100 micros, but based on their risk limits, you should trade ~3.
But you won’t. And that’s their edge.
ES extra-large-lot sales into 4592-4594.5 support.
11:16: -1,348 @ 4592
11:28: -1,008 @ 4593.25
11:28: -1,024 @ 4590.75
11:34: -2,074 @ 4591.5
Watch for short-covering if we break+hold back above this area.
“A Gomorrah of carnal abuse.”
- Senator Kennedy, on the FDIC
This man always has something unhinged to say. Hands down the most entertaining part of any Senate Banking hearing.
Even if you’re suspicious of the JHEQX collar pinning effect at SPX 4515 for the 29DEC expiration, there are very forgiving fly/condor structures currently paying >10:1 in this spot.
Even over 9:1 if you land inside an ATR(14) band around the price…
Waller popping off, for sure.
But when you see -5K contracts net sold in A period, playing for the inside day breakout… then we start building volume back inside the range (>4555)… it really doesn’t take much of a spark to light the fire.
Waller popping off, for sure.
But when you see -5K contracts net sold in A period, playing for the inside day breakout… then we start building volume back inside the range (>4555)… it really doesn’t take much of a spark to light the fire.
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