ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
Only picked up 2.5 points here, but what is shown by this is my contention that it very hard to lose big sums of money when trading with the trend. Yes, I only picked up 2.5. but I was with the trend and using a mental stop and went to sleep at normal human hours and still didn't have a big loss. Position sizing is also a big part of the plan. If you feel that you have to watch the screen all day, then the position size is too large. If you feel you can walk away, then your position sizing is either spot on or it is too small. Trade with the trend and live your life with more quality.
Make no mistake. I will only be looking for good long entries right now. If I miss a good extended shorting opportunity ( not just 10 points) , then so be it.
Should have sold half at 1504 and moved it to break even.
89.5 50%
87.5 next test
87.5 next test
Quote from volente_00:
Should have sold half at 1504 and moved it to break even.
No. That may have worked on this trade, but over the long haul, I will take these types of trades so that I eventually get the one that goes to 1600 with the full position on, not half. By the way, if Iwas taking off at 1504, I would have taken it all off. There is no reason to take half a position off except to relax the nerves and calm the emotions ie feel good.
But you miss out on the 10 trades in between that were good for 15-30 points.
see how the insti's are scumbags, they downgrade premiere tech in order to buy it cheaper for FED day...pure scumbagology.
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