I think longer term. In 2006 the dow added nearly 200 points.
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Are we at a short term bottom?
- Thread starter riskfreetrading
- Start date
I think longer term. In 2006 the dow added nearly 200 points.
bought back a quarter of position at 64.55. Moved stops up.
Bought back the other quarter at 64.47. Cost of buying back of half position is at 64.51. Stops moved a bit down, to overall profit on IWM trading for today.
Sold 1/4 of position at 64.67 for $0.20 profit on this quarter.
sold another quarter at 64.80 for $0.25 profit.
Remaining position has now a $0.10 unrealized profit. I will sum the other profits later. This is definitely a profitable day.
Remaining position has now a $0.10 unrealized profit. I will sum the other profits later. This is definitely a profitable day.
looking at the chart, it hasnt made a short-term higher higher, followed by a support to make a higher low.
you can try to catch a falling knife, with a small stop, a low risk high reward play, but the probability of making a successful trade given this criteria is low.
just my two cents.
you can try to catch a falling knife, with a small stop, a low risk high reward play, but the probability of making a successful trade given this criteria is low.
just my two cents.
Quote from amedhussaini:
looking at the chart, it hasnt made a short-term higher higher, followed by a support to make a higher low.
you can try to catch a falling knife, with a small stop, a low risk high reward play, but the probability of making a successful trade given this criteria is low.
just my two cents.
Thanks for advice. I am aware. I am profitable, and will be profitable no matter what. Check my trades (they are in real-time)and match them with the tape. Indeed do not catch the knife unless you can take cut, the knife is close to bottom, and/or you are skilled in playing with knives.
Current open position (which is half of what I played today) has $0.05 profit. Playing with the other half allowed me to get so far: $0.83 in profits (on half the position). As long as IWM does not go below below 63.87 I am profitable. But stops are well higher than that.
bought back a quarter of position at $64.49
riskfree instead of cluttering the thread just create a journal