Every ES trader needs to hear this.

Today's Review

OVERVIEW

SPX & SPY ATH

Still zero pullbacks… As we sprinted right into a new SPX/SPY all-time high!

Always use the cash market in front of the futures market when determining all-time highs!

Wow… What a move.

ES E-mini Daily Trade Plan My absolute least favorite place to trade is at all-time highs.

How do you short at an all-time high???

How do you initiate a long at an all-time high???

Once again, I am in Stand Down mode. It's really the absolute best.

Stand Down

For two days, I have begged traders to stand down.

Pretty good advice, it seems.

Not every day is a trade day… no matter what some gurus on Twitter might tell you!

Yes

Yes, it can keep going up and up and up defying ALL 'logic'.

ES E-mini Daily Trade Plan Countering when bulls control is a losing system… not one we play!

This week's market crushed the hearts of every short seller who kept shorting on the way up.

🔥 Believe it or not, retail short selling helps propel the market higher and higher, because they have to cover! Then they short sell yet again (it just has to turn around — this is Nuts!), then they have to cover! Then they short sell on every down candle thinking this is THE vomit move down… nope… then they have to cover again!

Chasing Highs

This up move has devastated many people's personal accounts!

I see the losses all over Twitter. People just cannot stop shorting and betting against ES.

The money on the short side is just so euphoric… people can't stop chasing that high.

The worst thing that can happen to a futures trader is a monster profit from shorting ES… and it's even worse when that profit comes fast.

They spend the rest of their life chasing that high.

They pace around like a drug addict hopped up on tranquilizers, tweaking.

The bones of broke short sellers are littered all across Twitter.

LONGS vs. SHORTS

There is a reason 80 to 90% of our system is longs!

If you want to make your money on the short side, you must be extra, extra selective!

I do not map out many of them in the Battle Plan. BUT… they're pretty darn successful when I do!

I advised my traders in Discord that if they wanted to short this move… if they are so compelled to counter-trade… to be extra greedy. Place your entry near where your stop-loss would be, thereby ensuring the smallest loss possible. If you happen to be right, you could be really right, and if you're wrong, you want to be wrong very small.

ES E-mini Daily Trade Plan That's the key in all trading… When you're wrong, you want to be wrong small.

I have said many, many times, and I will continue to say it: Trying to short ES when the bulls control is a losing system!

CONTAINED LOSSES

You are free to take any trade you want at any time.

Here is the key.

Can you keep your losses small?

Can you keep your losses contained?

Can you walk from the chart when you take two counter trades and they're both break-evens or losers?

Or do you keep fighting the tape all day long?

Listen to the song above!