Michael Burry first tweet in years... It's going to burst.
(media.scored.co)
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100%.
I’m doing scalping on dow jones right now, but really just for funsies. Took me far too long to learn to set limits before going in. I do 3:1 risk/reward ratio.. And hit 2/3 times usually.
Just fiddling around with house money.
Example. Dow is at 3000 I buy 1-2 micro mini futures contract. Set limits: eat loss and sell back at $150 loss and take profit at $50. So my loss will be a max of -$150 And my max gain will be $50.
Between 9:30 EST and 1:00 PM EST is when i play.
Make no mistake—It is a casino. Nothing about it makes sense, I’m only diving in at the middle of a trendline and hoping for the best.
It’s the equivalent of gambling unless you control millions of shares like the hedges… i just try to do what i think they are doing when they do it.
Watch the candlesticks at 15m and 5m, bet toward trendlines and keep last week’s daily movements in mind—there’s usually a baseline (average) and it’s supposed to trend back to that line.
thanks! are you actually making any profits on a monthly basis with this strat?
ive been trying to trade crypto for a solid while and never found anything replicable and consistent
Crypto is even more of a mystery.
Yeah, i’m pretty consistent. Some people do 2/1 risk to reward— but i do 3/1 on Dow Jones.
“Winning” is sometimes breaking even for the week, as i define it. Because you’re always learning. Losing is losing.
YOU HAVE to set your limits before the purchase or the greed or regret kicks in and you start using emotion.
It’s cool going into it knowing what you will lose, and it sucks when your “take profit” hits and you’re like “if i had just stuck it out i would’ve made xyz.” You have to be a cold bastard in options/futures. I wouldnt recommend it.
so your max loss is 150 but you take profit at 50? i guess you meant the other way around yeah?
Look, it’s fucked, i know. I do it backwards. Only for Dow, micro minis though.
Dow Jones moves super fast sometimes, on micro minis it’s 50¢ a point. So a 100 point swing is $50. I want to put a large brace behind me when it dips temporarily if the big boys pull liquidity. Which happens a lot.
Set up a paper trade account with another broker/platform and play around.
Make sure you have enough fake money in there to cover overnight margin, sometimes my “scalps” intended to last 15 minutes last for 2 trading sessions. (Because of my cushion being 3x)
Currently, i’m losing the $150 only 1-2x per week, and getting the $50 gain 6-8 times per week. Sometimes, If near the end of the day’s session—i’m at a gain that will cover fees and get a small profit, i take it. So, a couple of times a week, i’ll take $10-40. Just because the overnights are so unpredictable. This is futures. In options, I used to work a different strategy, but couldn’t make it consistent.
This is just my dow jones strategy— it’s pretty shitty i admit, but there’s just so much fluctuation at market open. Consistency is king.
What i’m doing, i set it and forget it in the morn, check it in the afternoon 30 minutes before closing bell. If i am at any loss near closing, i say fuck it. I came in to lose $150 i’m not cashing out over -$68.
…And i only get my dick kicked in once or twice a week 🤣
I am retarded by the way, please dont use this as trading advice (unless its a “practice” aka paper trade account)