ES Journal Archive (2006 - 2008)

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Quote from saliva:

No offense, but why would you even want to hold on to a loser that long? You must be a real idiot to risk a whole month's "income".
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I'm saying you shouldn't ...just pointed out the timeframes...
 
Quote from saliva:

No offense, but why would you even want to hold on to a loser that long? You must be a real idiot to risk a whole month's "income".
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I have done it before... when I was starting out. Not a months income but definately a week or two. I blew up a couple times until I realized it wasnt worth it. Thats why I am so adamant about risk management and position sizing. Every once in awhile its ok to shoot for the moon when everything lines up.. like it did for my short today. I was ok with suffering the consequences if I was wrong.

Its easy to say I would never do that... etc but when your in the heat of the battle its a lot easier then you would think... especially on the russel.
 
just an update on the euro... it touched the first resistance zone to the tick at 1.8460 and fell back immediately. This is a good sign that there is some supply at new highs. There is still some support below the market so I am not going short yet. I am just starting to transfer some money back into the the US dollar.. nothing big yet.
 
Quote from apex82:

just an update on the euro... it touched the first resistance zone to the tick at 1.8460 and fell back immediately. This is a good sign that there is some supply at new highs. There is still some support below the market so I am not going short yet. I am just starting to transfer some money back into the the US dollar.. nothing big yet.
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typo it is 1.4860
 
Taking some off here 1.4820-25. Will get the rest out a little lower.

Quote from [Proximo]:

Went short @ 1.4850 after the mini panic buying 4:45 EST.

It's due for some downside.
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Quote from Spectre2007:

you can average, as long as your unrealized loss doesn't exceed one of:

1) daily income
2) weekly income
3) monthly income

calculate what you make on average per day.. its easy to come back from a daily loss, but imagine how long 1 position loss going against you a months amount will take....well a month..

a hard stop could be a weekly loss. A weeks loss can be relatively easy to come back from... but a months loss can be demoralizing, especially if you need the income.

you don't want to be fighting a uphill battle, if your losses exceed the longer timeframes..
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4) income of hedge fund and all its employees
5) net worth of a 100 year old investment bank
 
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