any positive news from citi....24 target.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
Actually Surf trades against the trend. I only trade with the longer term trend. (I don't consider intrday trends or very short term trends).
Surf couldn't trade his way out of a paper bag; how you are compared to him is beyond me. Good trading my friend, went long some puts on the close. Also looking for a break of $1400.00. I do not think we are done testing the downside.
Ppi just delivered Bernanke a life preserver....
Short term positive...
Short term positive...
participants will use any negative news to remove exposure as time tics away till fomc...
Because you obviously don't follow either. Both of them have lots of patience to keep the position through days of adverse moves, but they are also infamous to give back HUGE chunks of unrealized gains and let a nicely profitable trade run into losses. (Surf 400+ YM, B1S2 50 ES)
There you go, enough similarity???
Quote from Buy1Sell2:
No. I would agree that there is more opportunity trading that way, but that the opportunities go both ways. In other words, there are a lot more opportunities for losses and dumb decisions. Traders are more likely to make bad decisions than good ones. In addition, winning percentages are significantly higher for longer term traders.
How are they are higher if the trader is going for home run trades ? The few homerun traders I know have a low % win rate but the r to r is extremely high. Risking 100 to make 100 or even 200 is not a sound strategy in terms of risk management. The numbers do not add up. You are risking 2 % with a huge stop, versus risking the SAME 2 % with a smaller stop with the opportunity for 10 different trades to turn into homeruns. Who will hit more home runs ? The one that only has 1 chance or the one who has 10 chances using the same risk money wise ?
1 trade 2 contracts, 100 point stop is $2 % risk.
10 trade, 10 contracts 2 point stop is the same exact % risk on capital. On any one of the 10 opportunities you also have the chance to keep the 2 contracts on with a trailing stop given the chance you are right so you still can get you home run.
Quote from Buy1Sell2:
Actually Surf trades against the trend. I only trade with the longer term trend. (I don't consider intrday trends or very short term trends).
Long term trend since stock market began is up so why are you short ?
buy stop 1414..1416..1424
target 1468.
target 1468.
Quote from Buy1Sell2:
Making a daytrade of 2 contracts here as a fun trade here so that I can communicate some more immediate results to everyone. This is a real trade. I have shorted two contracts at 1404.00 Stop is at 1417.50
Selling in deeply oversold conditions (based upon intraday chart anyway)
Walking away from the comoputer now for the day. I may trail the stop down as the day progresses by telephone. Good fortune to all today!!
Chasing is the reason why 90% fail. They chase the move because they are scared and not disciplined to fade it. Following the crowd will cost you all your money in the end. One must beat the crowd and then sell to them in order to make it long term. A proven concept from one of the best traders the street has ever seen. Not saying you won't make money sometimes, but chasing with huge stops is a lose lose situation in the end.
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