brewski1984
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I was looking for this thread the other day. Guaranteed king lost millions
counter_violent
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sminicooper
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Blood on the streets?
There will be some good buying opportunities.
There will be some good buying opportunities.
Oscar Reed
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Well that was all fast and furious. To be truthful I hadn’t the faintest idea how to trade it, jumping up and down by 100/200 points in seconds. A tight stop was at least 150 points. Came out of it ok but God knows how.
Smaller size and more trades for me.
Trader333
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It's not people selling that causes these crashes but a lack of buying support. If no one is willing to buy then prices keep coming down until they do.
barjon
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I’m not sure it was people. Price moved so fast with relatively huge jumps between ticks that it had to be computer algos in play?
brewski1984
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Last edited by a moderator:
"Chumps?"
Its an achievement to make money when the market behaves in an exceptional manner, that 1 day in a hundred when its doing something wacky. But better to be able to make money when its just doing its normal thing and the lunchtime news don't even give it a mention.
sminicooper
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Yup! I don't think we're there yet though.
brewski1984
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I did a quick(!) bit of maths during my lunch break using what you've posted and I've worked out that you got taken to the cleaners, although everybody already knows that
wallstreetwarrior87
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Too true, everybody and their mothers were in this thing, so all demand in and no new demand to come, yes we dont fall right away, but its only matter of time while the big boys get out of what they have, and then ultimately get ready to collect the other side.
Dirty business.
As an aside, I did read an article about personal debt being used to finance the trades. Highest levels for about 20 years. Good article, and pretty bang on with regards to what was to happen (off my head I think it was published just before Christmas).
wallstreetwarrior87
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So now we have the situation where there is new demand to come, but will they come out to play yet? Volatility can mess with peoples heads. Fear now becomes an issue, where as this has not been the case for the last 3/4 years.
Good times begin :clap:
Good times begin :clap:
counter_violent
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Yes I think so, but perhaps not in the way you might think.
Observation based.
As far as I can work out, the algo's basically get turned off because volatility has increased beyond normal ranges. When this happens we appear to get buy side vacuums and as a result we pretty much see a flash crash type price action.
So if my theory is correct, then it's entirely possible we could see a full retrace and who knows, even new near term highs!
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