ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from Buy1Sell2:
This is not a new trade, just a continuation of the previous trade. Booked profit from Sep contract is not considered booked yet.
Good to know I understand it correctly. Thanks.
Why now at 1198-1200?
I thought you are going to ride it down to testing the gap top first.
Quote from SrRuthenate:
Maybe you can explain it to me: I'm open to change my mind wrt "averaging".
You shorted at 1209.50 and got lucky at 1210.00 too, each with X number of contracts, you put OCOs and went to bed, now the market dropped to 1200 and you "reduced" your 2X position to Y contracts.
Had the market kept going up, you'd have sold X units every half a point till 1215, with an overall stop at 1225.
It seems like a huge risk for a very small actual reward, as you only managed to put a peanut size position on.
Please correct me where I went wrong.
Not sarcastic, assume I'm just too stupid to see it.
Don't waste your time, the inconsistency is amazing and the money management horrendous.
Crazy A
Quote from Buy1Sell2:
This is a discussion for the scaling thread. However, I would made more my removing all, not part, of the trade at lower prices. Reminder as well-- I'm still in the trade.
coulda woulda shoulda never made a dime trading
And you will have given up more profit when you eventually get stopped out because you did not scale out at higher profit levels.
Your argument only holds water if you have a fixed profit target but you don't
Quote from Lawrence Chan:
Why now at 1198-1200?
I thought you are going to ride it down to testing the gap top first.
scaled out at r10 just in case they want to fill upper gap before lower gap.
Trying to already. Make sense.
Quote from SrRuthenate:
Maybe you can explain it to me: I'm open to change my mind wrt "averaging".
You shorted at 1209.50 and got lucky at 1210.00 too, each with X number of contracts, you put OCOs and went to bed, now the market dropped to 1200 and you "reduced" your 2X position to Y contracts.
Had the market kept going up, you'd have sold X units every half a point till 1215, with an overall stop at 1225.
It seems like a huge risk for a very small actual reward, as you only managed to put a peanut size position on.
Please correct me where I went wrong.
Not sarcastic, assume I'm just too stupid to see it.
Key word is "had"
Had the market tanked 30 points and my oco was resting at 1215 I would have made nothing.
I had 1210 - 1215 pegged as my sweet spot
The tight number from my analysis was 1213.5
Had I set my short at 1213.5 or 1215 I would have missed yet another trade.
And no my orders were not at every half point.
So are you actually going to post some trades or are you just here to criticize others who do ?
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