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Covered at 1235. +22.25 :)

Overnight target set at 1235 - just in case of an early morning big down move. If I get stopped out at 1270, still plan to go short in the short term. Goodnight.

LOL. 30 point swings two 24 hour periods in a row, easy to get spanked!:eek:

Can't argue with your point. Widening stops after placement is against most rules.

Target now open.

They are gunning for my stop:cool: They are going to have to work for it. Stop widened to 1270.

Short 1257.25 Stop 1265.00 Target 1242.00

read it one of Elder's books. can't recall reasons, except I think some trading firms at the time the book was witten ( over 20 years ago), enforced that rule with their traders. may be dated now. But Jessie Livermore never followed a rule like that. he stuck by his convictions. I wish you...

agree.

one of many rules for risk management not etched in stone but a conventional one risk more than 2.0 perent on any one trade and no greater than a 6.0 percent loss on your account for any one month. the rule: if you hit 6.0 percent loss stop for the month.

I agree we are in a volatile market with the es which is what we wait for. i am not sure whatnthe vix will do. I think we will breach the neckline for a reversal, but I would not venture a guess when. could be tomorrow could be a few weeks. As Vol pointed there are a humungous open interest...

You are one determined bull! I am not asking this in a sarcastic or demeaning sense. I am asking in objective sense - I just want to know. Is their a reason to stick to being a bull with the current price action, other than the desire to prove you are right or expecting a spanking?

I'm with you. :)

You mention what I say is relative and then you state absolutes as quoted above. There are no absolutes. I am sure you are succesful and a rich trader and I wish you well.

For a 20 point range, I would venture a guess that your 20 point stop is not equivalent to a 21(rounded up)/3 point stop. There would probably be well over 7 trades for traders that are using 2-3 point stops within a 20 point range. So your 20 point stop probably is less risk than people...

I agree with the stops and target - maybe even wider at times. You place you stops to tight on the ES like 2-3 points, its a death of a thousand cuts.

The simplest way is long HKD/USD. Could be a long wait though. But given the debt ceiling crisis - who knows. I'd play it as a swing trade (I am not going to play it), place the trade, see what happens in the next few weeks. If it's business as usual, you may be waiting for years and I'd...

I liked it better when NiN kicked the crap out of people like Jackson. Today he tried to help Jackson and what happened was predictable, Jackson and people like Jackson acted in an aggressive manner for no reason. The reason Jackson and people like him acted in such an aggresssive manner for...

What are you leaving because you tried to help Jackson and he spit in your face?

LOL:) Sometimes on this board peoples' sense of humor is really good stuff.