Last night couldn't have gone better. As I mentioned on Sunday, the 30-point spike on the /ES was simply too tempting to pass up, so I shorted 40 contracts. When I ambled over to the computer screen this morning to see how things were going, it had fallen exactly as I had hoped (that is, a meaningful amount, but not piercing Friday's lows). I got out of the position, and I am watching /ES to see if this mutates into a good long position. I've tinted the "ride" I took on the /ES below.
While I have your attention, I have a question I've been meaning to ask the group…………regarding the /ES, "are there any others like you at home?"
What I mean by that is this: I only "discovered" trading the /ES back in October. That's only five months ago, but I feel like I've been trading it my whole life. Although I completely screwed up at the beginning, racking up six figures in losses in no time, I got my bearings and, since then, it has been the backbone of my profits and my trading.
Obviously I knew about the /ES before then, since it's a popular and widely-discussed instrument. But I let my fear of "futures" keep me from exploring it more deeply, and how I wish I had known how to trade this before I wasted so much time and money trading things like Russell and S&P index options! (whose spread still shocks me).
So naturally I am wondering, what else am I missing? What other highly-liquid, highly-profitable trading vehicles are out there whose boat I am simply letting sail by? I really blew it not getting into /ES earlier, and I'd love to hear other general ideas out there, if there are any.
