Search results

Hmmm, not too many 18 y.o. can turn in that kind of performance.

The Stock Trader’s Almanac notes that the “Santa Claus rally,” which encompasses the last five trading days of the year and the first two in January, has been good for an average gain of 1.5% since 1950, and 1.6% since 1969.

No, actually, your being foolish. Had B1S2 covered around 1423, he would have had 5+ points of locked in profit. Had he then waited for the market to rebound, and re-initiated his short in the 1428 area where he first started his short, he would be much further ahead profit wise than he is...

That's all well and good, but unless you thought today was going to be a big move day, I see no logic in throwing away a 6 point gain. Bank the profit, wait for the market to rebound and re-initiate the short. Anything else is inferior trading.

Please tell me you covered that short on the plunge.

Got it.

1382 x 1 1383.75 x4 1388.5 x 10 So, that gives you an average cost basis of 1386.80.

Unless you catch the top tick or bottom tick on every trade B1S2, should me your trades, and I'll show you how scaling out would have been more profitable.

And if it only gets to 5.75 points, then what? You ride it all the way back to breakeven? Or, maybe you decide to cover at some point once you realize the trade is unlikely to reach your 6 point target. Had you scaled out near your target, you would have wound up with a greater profit, than...

Covered I assume?

Well, the "I was molested at a tender age; I'm an alcoholic, and I'm going into rehab" excuse has already been used this week. :p

Reminds me of that old saying. "Opinions are like assholes. Everybody has one."

QUOTE]Quote from ozzy: It has been gradual, but I did have some big hits along the way. I've learned a many things along the way. Hard to say which is the most important. 1) Playing far to big for my knowledge Exp. 2) Being an optimist, overconfidence, etc etc. (not having the...

You've weathered the heat so far on the shorts. Congrats. I think I would have covered for a profit today, and looked to re-enter higher. Hopefully, the market runs out of momentum soon, and you ride the shorts down for a large gain. Good luck.

Ha! Of course he didn't.

Hey, its OK if you are trading with a $5,000 acct. Really.

A stop of 2.5% would be where on the ES?

Interesting. ES moves down 8 and then up 5, and you get no signals?

"I called it first! I called it first!" Sounds kind of childish coming from a man of your stature, don't ya think?

Who are you with now? Those commissions look pretty low. Do you pay a platform fee with your current broker?