From time to time I get questions about which indicators I use when I choose to enter a futures trade. The truth is when it comes to futures, I have never found a real edge. Most any trader out there is likely to have a much more sophisticated system when it comes to futures trading, and I am hardly qualified to speak on the topic.
However, I do have my moments when I sense it’s time to get involved in these overall market day trades, using as much leverage as possible. It has nothing to do with conventional technical indicators, rather a gut feeling I get paired with overall sentiment in my trading room at TradingAddicts.com.
As the S&P Futures collapsed this morning and watched I my positions start to bleed, I felt as though the market was taunting me like Rodney Dangerfield did to Ted Knight in Caddyshack.
“Hey Smails! A thousand bucks you miss that putt!”
I’ve missed “putts” over and over recently. Trade after trade gone wrong. Like Smails, I was ready to throw my club this morning. Pair that with some capitulatory comments over in the trading room, it was the perfect storm of disgust and anger towards Mother Market.
Right before I decided to throw the club…
As I type this I am still in, as /ES trades above 2628.
My proprietary Judge Smails indicator wins again.
OC