Got stopped out with a loss at 1230.75. The market is digesting all these bad news pretty well and still holding up good. I can't decide what to do here, but I'm sure that I do not want to be short here. Today was a +1% buying day on all indices. I will lokk to enter long in any pullbacks now.
Doublea's Trading Strategies
- Thread starter doublea
- Start date
Quote from SethArb:
hi doublea
does gary smith write anymore?
once in a while he is quoted somewhere
( people sometimes confuse gary smith of the streetdotcom with gary smith the author of the book you mentioned , by the way )
I do not know anything about Gary Smith besides his one book.
I remember somebody saying that he used to post here, but not sure if it is the Gary Smith from street.com.
Initiated a new long position at 1240.50. This is Dec contract. I have my initial stop at 1233.25 and exit at the EOD on the 5th day.
I went through all my trades and realised that one of my problem was not having an exit, esp. when the position is going in my favour. So from now I will get out at the EOD on the 5th day, if I have a profit.
I will get out on Tuesday 22nd, if I have a profit or I will exit if my stop is hit.
I'm still long-term bearish but the market is telling her story best and she doesn't want to go down right now.
I went through all my trades and realised that one of my problem was not having an exit, esp. when the position is going in my favour. So from now I will get out at the EOD on the 5th day, if I have a profit.
I will get out on Tuesday 22nd, if I have a profit or I will exit if my stop is hit.
I'm still long-term bearish but the market is telling her story best and she doesn't want to go down right now.
Quote from Bitstream:
You are bound to recover your past losses with this trade...
...I can't see indices go other than up and up and up and.....
I really did not have many losses I did have more winners than loosers but my problem was over-leverage. My timing was perfect and I was in sync with the market.
I could care less whether the market goes up or down, I have few patterns that I like to trade and based on those patterns I need to be long now.
didn't some newsletter writer say buy today and exit wednesday?
that is a very strange way to trade as so many things can change so quickly inside of a single day not to mention a weekend and 7 days.
that is a very strange way to trade as so many things can change so quickly inside of a single day not to mention a weekend and 7 days.
Quote from protrader-2K5:
didn't some newsletter writer say buy today and exit wednesday?
that is a very strange way to trade as so many things can change so quickly inside of a single day not to mention a weekend and 7 days.
It's just that the patterns that I have found are good for 5 trading days that's why I did not count the weekends.
Anyway, I got stopped out of the trade.