If it doesnt get rejected by 11:00 it looks like a busted trade and time to closeout.. Stops hit?? Anyone Concur

one should be fearing when hoping and fearing when hoping. take an objective view…….FOMO says, buy, but check the Risk to Reward…….mkts will make fools of more people and then go YOUR way……..its a tough business.
and that is why emotion management is what gets you on a consistent profitable path

Lol!! So true about the “hope” word. Anytime you start hoping, chances are you’re in trouble.

Agreed. Thanks for response.

YW & keep in mind that hope is a 4-letter word when it comes to trading/investing. The old joke is that buy & hold investors turn into buy & hope investors during a bear market (continue to hold as they lose more & more $$ just hoping that things will turn around soon). Have a (trading) plan: What you are going to buy/short; why you are going to enter the trade; where you are going to enter (or scale in); the max. $$ to put into the position; where you will take profits (if correct) and where you will stop out (if wrong). Then, stick to the plan unless the charts convince you that it should be modified. OCO/OCA orders are a HUGE help with providing the discipline that so many traders & investors lack.. set & forget.

I’m not viewing the end of this (likely) bear market rally as a hard top (full reverse from long to full short position), but rather a soft top that is likely to be a process & a topping range. I also think if the market doesn’t start a clear bearish trend soon that it could grind around in a 10% or so in a sideways range for the next 2-3 months. As I’ve said recently, I think the bulk of the meat from the rally off the mid-June lows has already been sheared off & there may or may not be a few more scraps left but relatively speaking, not much nor is it worth it to get chopped around with index longs going back & forth in order to milk out what might be another 5% or so upside. Even those shorting here should expect that even if those shorts pan out, it might take a while.

Maybe, maybe not. All we can do is take objective shots on trade setups with attractive R/R‘s & hedge our bets by diversifying among various positions & asset classes in order to mitigate risk & avoid big swings in our portfolios.

Also I hope the Fed doesn’t switch and start propping up this market again. But I could see some type of deal between the Fed and the administration to lay off until the elections. Lately it seems like the smart money is also pouring into the market which makes me wonder if they know something we don’t.