A 70k bet that I can't make a 50% gain in 2009

[puddles]

Quote from NoDoji:

From the chart it looks like this one made a .70 move from the opening high to the pivot point off which you shorted. Why not target a similar move down for the 2nd leg (around 38.85), since 2nd legs of a trend are usually similar to the first leg (measured moves)?

Easy answer to that. 2:1 r/r ratio..

I didn't even look at the chart after my entry until I saw that my target got lifted.

 

[NoDoji]

Quote from puddles:

Easy answer to that. 2:1 r/r ratio..

I didn't even look at the chart after my entry until I saw that my target got lifted.

The 2:1 is what makes your strategy net profitable, but some setups look good for a better move, like that JCG did.

 

[puddles]

10.46

LONG NLY 17.31
STOP 17.24
TGT 17.45

 

[puddles]

Quote from puddles:

10.46

LONG NLY 17.31
STOP 17.24
TGT 17.45

out -0.07

 

[puddles]

10:09

SHORT APC 36.53
STOP 36.68
TGT 36.23

tailing on geez's add

 

[puddles]

11:14

SHORT DVN 62.93
STOP 63.01
TGT 62.777

 

[puddles]

Quote from puddles:

11:14

SHORT DVN 62.93
STOP 63.01
TGT 62.777

out dvn -0.10

bad slip

 

[puddles]

Quote from puddles:

10:09

SHORT APC 36.53
STOP 36.68
TGT 36.23

tailing on geez's add

out -0.16 slip slip

 

[puddles]

14:56

LONG AIG 37.12
STOP 37.04
TGT 37.28

 

[puddles]

Quote from puddles:

14:56

LONG AIG 37.12
STOP 37.04
TGT 37.28

moved stop to .02, got blown out of the water. out -0.13