S&P 20 minute sell off after I’ve gone! – 31st August
Dear All,
Just as I pack up my bags for trading today after watching the market trade mostly chopily (if that’s a word), suddenly we get the sell off I was hoping to see!
Arrgh! It’s so frustrating when this happens and you miss it. The markets momentarily breached todays high and then dropped like a stone.. all in the expanse of 20 minutes!
There was a 60 price movement for those who are nifty.. wow! It’s great watching when this happens but not so great if you just miss it like muggins here.
I would have probably managed to get in as it came below 148400 and probably taken profit at 148000 or so which would have been a respectful 16 prices. I’ll still be kicking myself for missing the rest of the move but for those who trade yourselves, it’s very difficult to know exactly what the market is going to do especially if it moves this quickly.. you could easily have lost a lot more!
I had planned on a short if it had reached 148400 as divergence in the MACD and stochastics charts was showing in all time frames. It would have been a relatively low risk trade. Oh well, you win some, you lose some!
