Damir's Trading Journal
- Thread starter damir00
- Start date
Damir, what's your exit strategy on this play? Seems like everyone on this journal kept shorting into strength. Do you ever completely reverse your position? At what point is the position taken off with a loss? Thanks.
-FastTrader
-FastTrader
NoiseBox reverses all the time. exit targets for tomorrow are set, if hit they are not only covers, they are "go long" signals. with volatity shrinking lately it doesn't happen as often as it used to but for sure it can and does happen that the 'Box reverses 180 degrees.
as to how long to hold...have you ever seen a position held longer than 48 hours?
by me, i mean. losses have to be taken according to the plan, otherwise it's not a plan, it's just wishful thinking.
today was the nastiest day since May. i've been waiting a long time for this too happen, frankly it's almost a relief. depending on tomorrow - and note that the positions are only ~40 dow points from being net profitable - this could be a red week. i'll trade a mildly red week for 4 months of consistant gains anytime it's offered!
but i can't say this enough: doing this strategy and sizing large is a guarranteed blowup. absolutely guarranteed.
as to how long to hold...have you ever seen a position held longer than 48 hours?
by me, i mean. losses have to be taken according to the plan, otherwise it's not a plan, it's just wishful thinking.today was the nastiest day since May. i've been waiting a long time for this too happen, frankly it's almost a relief. depending on tomorrow - and note that the positions are only ~40 dow points from being net profitable - this could be a red week. i'll trade a mildly red week for 4 months of consistant gains anytime it's offered!
but i can't say this enough: doing this strategy and sizing large is a guarranteed blowup. absolutely guarranteed.
Do you plan on adjusting the strategy to handle larger size?
-FastTrader
I don't know what size you trade; and I think we agreed it doesn't matter and wouldn't be discussed; but I am interested in knowing what % of your account you risk on each position. By that I mean, what percent of your account are you willing to lose on each position (position would be defined as the overall position after averaging in a few times).
Thanks,
-FastTrader