Did you stick to your discipline? Are you out?
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I trade 1 ES
- Thread starter random trader
- Start date
Did you stick to your discipline? Are you out?
I was wrong about the day, again. ES jumping back to my stop area due to Intel News. No stop on spikes but may stop later in the day, depending on market follow through action.
Quote from random trader:
4 point range (999-1003) overnight, no economic data release
expecting another lifeless day, rather spend the day watching paint dry
I though today was going to be a lifeless day? Futures up almost 9 points already.
Hmmmm, I guess we really never know what to expect. Wouldn't you say?
Quote from gotta_trade:
I though today was going to be a lifeless day? Futures up almost 9 points already.
Hmmmm, I guess we really never know what to expect. Wouldn't you say?
Agreed! Otherwise, why are we here discussing? We'd be lying on a Caribbean beach, wondering how to spend the millions made from the market.
I'm just trying to say that we can NEVER know, what is going to happen.
That's why we take high probability trades with the proper risk/reward raio. We also use proper money management. And most of all we use protective stops to protect us from when we are wrong.
With one trade, one position, you have an unrealized loss of 20% of your starting equity. And your still in the position. On top of that, you didn't stick to your stop.
I'm just trying to say that that is a dangerous way to play.
I'm just trying to help by making a point.
Wish you the best,
gotta_trade
That's why we take high probability trades with the proper risk/reward raio. We also use proper money management. And most of all we use protective stops to protect us from when we are wrong.
With one trade, one position, you have an unrealized loss of 20% of your starting equity. And your still in the position. On top of that, you didn't stick to your stop.
I'm just trying to say that that is a dangerous way to play.
I'm just trying to help by making a point.
Wish you the best,
gotta_trade
Quote from gotta_trade:
I'm just trying to say that we can NEVER know, what is going to happen.
That's why we take high probability trades with the proper risk/reward raio. We also use proper money management. And most of all we use protective stops to protect us from when we are wrong.
With one trade, one position, you have an unrealized loss of 20% of your starting equity. And your still in the position. On top of that, you didn't stick to your stop.
I'm just trying to say that that is a dangerous way to play.
I'm just trying to help by making a point.
Wish you the best,
gotta_trade
Apparently you are giving advice without knowing the full context of this trade, as part of an experiment. I don't blame you, not many people have the time or patience to read from the beginnig of a thread. They just jump to the last pages and conclusions.
No stop on spikes is one of my rules, not something I made up this morning to avoid taking a loss.
Quote from random trader:
Apparently you are giving advice without knowing the full context of this trade, as part of an experiment. I don't blame you, not many people have the time or patience to read from the beginnig of a thread. They just jump to the last pages and conclusions.
No stop on spikes is one of my rules, not something I made up this morning to avoid taking a loss.
Define "spike".
OldTrader
Quote from random trader:
Sudden move caused by "news".
So IF this INTC news causes a gap, which then leads to a breakout to new highs (around the 1015 area), you would not cover your short under those circumstances since this would all fit within the guise of "sudden move caused by news"?
OldTrader
Quote from OldTrader:
So IF this INTC news causes a gap, which then leads to a breakout to new highs (around the 1015 area), you would not cover your short under those circumstances since this would all fit within the guise of "sudden move caused by news"?
OldTrader
I will think about covering when the effect of the news is over. If there is follow through, I will stop out. If it's gap and crap, I will wait and see. New high doesn't mean much to me.