I hear you, but Josh, because my stops are relatively large, i feel i have no choice but to try for large targets. If it goes over 60, then maybe i'll pull stop up to b/e. I don't want to be stopped out and then find it shoots back to 70.
Maybe we're not talking about the same thing. I was referring to binary bets such as whether or not the Dow would close higher or lower today than yesterday. You could close the bet at any time prior to the close at the prevailing price. Is this what you guys are talking about? If not apologies...
I used to trade these some years ago with the bucket shops. Made loads of money due to a certain pricing inefficency. One firm banned me after 8 months, don't know why they bothered since the edge had gone and i wasn't no longer trading them anyway!
My target was 9900 !!!
I exited, but shouldn't have, just seen so many large profits disappear, fear driven exit.
Back in, lousy entry, but smaller size, may average in if it goes lower.