Hershey's journal

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position: short 2 S&P futures @ 987.5

Friday's close: 974

Profits +13.5 points X ($500 per point) = $6,750 paper profit

$6,750 paper profit in 3 days !!
 
Over +$6750 of paper profits in 3 days!! That's huge for this board. I am probably the only profitable journal here, amidst all this other fluff stuff.

You want fluff or profits?
 
Quote from Roger Hershey:

position: short 2 S&P 500 futures @ 987.5

Buy @ 950

Stop loss @ 1020
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Excuse me? You are using a 32.5-point stop loss? And trading 2 large contracts? That is a $16,250 stop loss for a single trade of only 2 contracts! Are you feeling ok? Since you're only paper trading, why not trade 50 contracts or 100? Heck, why even stop there?
 
you short 2 at 987.5 and your stop is at 1020

ming it is hit your drawdown would be 32.5 * $500 = $16250 just on 1 trade of 2 contract. Doesn't appeal to me too much
Anyway good luck trading



Roger Hershey
Member

Registered: Jun 2003
Posts: 47


06-27-03 10:17 AM



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Quote from rlb21079:

under what conditions would you exit this trade?
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Very fair question. The S&P 500 index would need to hit a new high. I'm leaning towards placing a stop loss @ 1020.


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at Hershey's journal..

where profits are IN, and utterly useless statistics and oscillators are OUT
 
Quote from Thunderdog:



Excuse me? You are using a 32.5-point stop loss? And trading 2 large contracts? That is a $16,250 stop loss for a single trade of only 2 contracts! Are you feeling ok? Since you're only paper trading, why not trade 50 contracts or 100? Heck, why even stop there?
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Ain't no paper trade, brother. It's real, sorry.
 
Quote from Thunderdog:



Excuse me? You are using a 32.5-point stop loss? And trading 2 large contracts? That is a $16,250 stop loss for a single trade of only 2 contracts! Are you feeling ok? Since you're only paper trading, why not trade 50 contracts or 100? Heck, why even stop there?
More...

My stop loss will be adjusted downward for monday. You're exagerating the potential losses. But that's ok. What do you know?

Just follow along, and forget about "the losses". That's a negative mentality, and that's for losers.
 
Quote from Roger Hershey:



My stop loss will be adjusted downward for monday. You're exagerating the potential losses. But that's ok. What do you know?

Just follow along, and forget about "the losses". That's a negative mentality, and that's for losers.
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Actually, I did not exaggerate anything. I merely referred to the numbers that you yourself posted. Blame the arithmetic. I hope that you and your positive mentality have a good weekend.
 
quote from Roger Hershey:

position: short 2 S&P futures @ 987.5

Friday's close: 974

Profits +13.5 points X ($500 per point) = $6,750 paper profit

$6,750 paper profit in 3 days !!
More...
Very interesting !

What size account is this that these trades come from?
What % increase does $6750 represent.
What is your exit strategy?
 
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