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short dow future at 500, 500 point stop

long dow future at 845 200 point stop

Looking at 500 points down on Dow future I reckon overnight.

i own a small position in the VXX...u know just in case.

If dow futures break 24500, then i think there could be a retest of the lows....

400 point sell off in the dow future in the last hr or so. I captured 100 points of it grrrr

dunno, off for a nap.

Hope everyone caught the opening rally, +200 dow points :D

The quote is taken out of context...he is referring to a trend following system he or someone developed at the cost of 7 figures which he then scrapped after a couple of years. Presumably it didn't work or something. This happened maybe 15 20 years ago.

Exactly ...I was long SVXY (i exited it before it crashed), but if it had gone to zero it would have been 5% of my account size i.e. would not have killed me.

AFAIK, PTJ binned that trend following system years ago (probably decades!).

Interactive brokers

I'm short Dow future at 800....i think we might see another overnight sell off.

Lost money today grrr.

You cant put stop limits below the market price. You can use limit orders but in a fast moving market, you may not be filled. That's why i suggested stops above the market.

If anything you should be using stop orders (maybe stop limit) to enter the market. Put them above the market and let the market come to you.

How does he prove it?

It's very difficult ...you just have to buy, forget limit orders. Unless you can afford the 100 point plus swings, you are well advised to leave it alone.

Go long?

Afaik, theres no termination for svxy etc.