ES Journal Archive (2006 - 2008)

[wave]

I never understood why so many will stay in a position until their stop is hit but almost always cut their targets short?

 

[BoyBrutus]

Quote from wave:

I never understood why so many will stay in a position until their stop is hit but almost always cut their targets short?

Its just my style of trading. only 1 losing trade today I think


Edit: short 1452.25 stop 1453.5

 

[Brucelee]

Talking commissions, who is paying less than $4 round trip here?

 

[tiddlywinks]

Quote from wave:

You were willing to risk 2pts on stop but only took 1.5? Unless your batting 85% plus, over time your time and money may achieve higher returns elsewhere? Just my view.

Where is it written --
1) stops cannot be overriden.
2) once entry is made, the plan for given trade can not be changed, regardless of market action.

IMO, trades that have only a ruinous stop, but are managed effectively, do not adversely affect overall ratios.

 

[apex82]

Quote from wave:

I never understood why so many will stay in a position until their stop is hit but almost always cut their targets short?

Allows me to trade in the zone, you can make money even if your analysis is incorrect and I have backtested thousands of my personal trades. For example the last es short I took... I got out at the exact low tick. Imagine how pissed I would have been if I had 4 points profit but instead took a full loss because of a measly tick. This is why I scale out, I have a statisitcal edge that maximizes profits with a scaling out method.

If you havent noticed most of my setups are usually a minimum of risking 1 to make 3 on the first profit alone. I am usually in the 75% area in accuracy. That alone is enough of a reason to bank some profit.

 

[tiddlywinks]

Quote from Brucelee:

Talking commissions, who is paying less than $4 round trip here?

Sub $4 RT all-in for mini-indexes is becoming very easy to find. Platform per trade fees are another story.

 

[Brucelee]

Quote from tiddlywinks:

Sub $4 RT all-in for mini-indexes is becoming very easy to find. Platform per trade fees are another story.

I´m talking no platform fee, only charting costs.

 

[JohnBob]

Quote from princessa:

lol...never mind.

vol,

A hip-hop trio. I assume the reference was triggered by the "goin' down" lyric you refer to occasionally (but a different group).

And a big thank you to Wikipedia.

JB

 

[BoyBrutus]

Quote from BoyBrutus:

Edit: short 1452.25 stop 1453.5

Out 1453.25 (-1) actually got tick improvement on this stop market LOL

 

[wave]

Trailing stops moved to 1450.25.