What are you seeing ?
Always like to hear other's perspectives to keep me fluid in my thoughts
Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
What are you seeing ?
Always like to hear other's perspectives to keep me fluid in my thoughts
But when wrong it would have made better sense to remove whole position at same time. You're a good trader but could be that much better with that tweak.And does the same for losses when wrong
Market oversold in an uptrend.
I respect that, I am guessing since you are a trend trader, whiplashing is your enemy nr1. Dont you think that in this current volatility the probability of whiplashing is much greater? Do you simply just keep taking the trades as usual and just hope to ride it out until you get those big winners?
You make the assumption that when wrong the trade never goes into profit of any of the objectives
Short 2500
Targets 2475
2450
Stop 2520
Market drops to 2470
Then rallies to 2525
Without scaling out you lose 25 points on trade on full position
With scaling you make at least 25 points on half
Then lose 25 points on other half
Net Breakeven minus commissions
This also assumes not trailing the stop. The majority of the time when my first objective hits, I almost always trail the stop to entry to keep a winner from becoming a loser.
I'd rather break even than lose full stop amount on trade as this helps smooth the equity curve.
No, I have never been long only. I got bull blinded and over confident. And I still dont think I was wrong to be bullish, my big mistake was being over confident and not being weary of the correction. Sometimes you gotta get punched in the face before you think straight again.
Maybe saying our trading styles are similar was wording it poorly, but much of what you say resonates very well with me.
