i have more consistent returns when i go for doubles instead of the home run . You need to be happy with your profit and dont worry about what you left on the table . I think its called greed .
Getting out of trades too early
- Thread starter halfwaythere
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Depends on what you are looking for though. Are u looking for consistent returns or do you want to take advantage of the "fat tails" type of distribution that the markets exhibit. Do you want a regular income like having a job or do you want to be rich?
Day trading is not for the faint of heart. Just ask EMG.
/NQ popped 1.42% or 60 points. I took an early 20 points profits and made a nice profit.
It is kind of painful to see leaving a lot of money on the table but I feel like the biggest mistake in life would be being to greedy.
It is kind of painful to see leaving a lot of money on the table but I feel like the biggest mistake in life would be being to greedy.
The opposite happaned to me. I was short Gold this morning from 1260 but did not cover because I was looking for a break out below 1250. This never came and I ended up covering the trade a little better than a scratch rather than have an ok profit. I was willing to give up the small gain, for a possible big one. This time it didnt work unfortunately. On Wednesday the patience and riding the winner payd off great!
Im trading all in / all out so this is the type of mindf$ck that I get deal with. I guess you can scale out of positions but thats all personal choice.
I just went through that on the NQ today. Got out and it went 20 points comfortably higher from my exit.
I just look back on it all and appreciate that I got what I got. And I listen to groovy music...And I wait for algofy to throw pie at me. Good pie.
Don't sweat it. There will always be more 90-point days. You have not missed the voyage, just this one boat. There are always more boats.
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You still did better than me. I trade NQ but take some Fridays off - badly timed, today: I look at the chart and tell myself this was a good day for people who work harder than me.
Indeed ... and have a good weekend.
Glad you had nice profit at NQ as well today. Like you, I'm happy with my gain today as I reached my profit target.
I'm trying to stick to my trading plan and take small gains rather than waiting for big pops because 60pts pop is rare. There were days that NQ popped 30 pts and I took the profit and just to see it reverse immediately back to negative. Those are the days that I'm happy to be mechanical about my exit point.
You still did better than me. I trade NQ but take some Fridays off - badly timed, today: I look at the chart and tell myself this was a good day for people who work harder than me.
Indeed ... and have a good weekend.
Only take the weekend off
I went short as well on GC, even added to it as it moved in my favour. Sadly closed the entire position for a small loss in the end.