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Nice one. Is is just me who did not sell FAZ at 5.80; and did not sell at 5.60 because my losses were higher; and again did not sell at 5.40 as my losses were even higher... and finally sold at 5.20 coz that looked like tanking? Dude, trading is not easy. By the way, I did not sell any FAZ...

This is exactly what I wanted to know. Anyway, guess we are having this whole discussion because SKF position was opened before FAS position got closed. So you were effectively making bet on fin-sector in both direction at the same time.

Chances are next to none if both trades were placed around same time and they are exact inverse. The first stop will always hit well before other's target (because of 1:2 ratio) ;-)

Good point!

He just covered FAS loss with SKF and also made profit ;-) Nice going G. Ok, every time I'm tempted to do something similar, I think of it as "revenge trading" and don't do it. So the question is, how do I know if it is ok to re-position like this?

I was thinking about this one day where we only trade in combo i.e. FAS/FAZ or any similar inverse combo(say SSO/SDS). That will surely make life simpler. - SU

Just donated some more money to the market (tighter stop and possibly wrong setup). It is going to be good learning on setup criteria for FAS/FAZ.

It's interesting as I just took a LONG shot at FAZ. It was showing support around 5.45 (resistance at 906 of sp500 ) so I placed a tighter stop. 10:50 200 FAZ BUY 5.45 STOP 5.38 TGT 5.65

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2422376" /> Thanks,

Guess I should wait for your explanation and then post the chart with your comment. I'm using http://www.chartfu.com for annotation. Is there any other better tool for annotation?

Geez, I assumed that you were using 1m chart as it was a early trade (before 10AM). Guess I should always post 5m chart in future. I read it somewhere that one should also validate the setup with "one period higher" and "one period lower" chart. - Su

Ah, the previously posted chart was WLP but it was 1 min candles. Here is the correct one. Sorry about that. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2419959" />

Good one :-) <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2419080" /> Does any one trade with Geez's published trade which is posted almost real-time? I seriously got tempted couple of times on a slightly better entry.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2418925" /> I was baffled too.

If you are in USA, you need a minimum of 30K capital for this strategy. This is to avoid the stupid PDT restriction (patter day trader). My current setup is 30K with IB where my round trip commission is as low as $2. My account got activated early this week and short term plan is to stick for...

Would be great if you can touch everything i.e. time, price, stop limit and direction (long/short).

That is your generosity :-) I'm just trying to learn your system. It would be great if you can occasionally post some comment about your entry decisions. Thanks,

It is true that the probability is 50% but guess that assumption is valid for 1:1 reward/risk ratio only. It is entirely different game when ratio is increased to 2:1 ;-) Any trading system has following two major components; entry & exit. * Geez's entry - time, price, stop limit * Geez's...

Cheers,