I run a renko chart for triggering entries into [and out of] Nasdaq futures. They are great charts because the candle print is based on movement in price not time. I usually run a 0.75 point bar, when pace picks up I switch to 1.5 pointers. Today I was running massive 3 point renkos and they were being machine gunned onto the chart all day long.
50 point unidirectional moves were the norm throughout the entire session. A feather could push this market 7 handles. I got motion sickness by noon, ate a hammed burger (epic nausea remedy) by 2, and was in a catatonic trance from 3pm to close.
Today changed me. Every teevee I crossed was staring at me like a demonic robot. Phone calls came from relatives and friends. I only traded from about 10:15am-11am then had to stop. There were water puddles by my feet. I was full on losing it.
I bought American Apparel stock, WTF?
I will spend the evening regrouping. Sleep seems unlikely. I need to rebuild several of my charts before I can step back into the fray.
That’s all I can say. This environment is new to me. I am seeking the council of elders just as you should be. But remember: be skeptical of anyone wearing a suit, especially if they have an American Flag pinned to their lapel.
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What if they are wearing American Apparel ?? I wondered WTF you were doing but thought I would keep my opinions to myself. Tomorrow is another day my friend
If they are wearing American Apparel ask them if they are paying wholesale prices. If not, they cannot be trusted either.
Raul – APP made several appearances on the Ouija last week. Looks perfectly sane to me…
It poked me last Thursday but I was too busy shorting everything else.
Pick a direction and play very small with the intent to average down a loser, yes a loser. That’s what I did today in a market swinging so violently. Eventually I got paid off very well when I got my move.
nothing to it but to do it, thanks