Is this a selling gift S&P?
- Thread starter trade-ya1
- Start date
I think that is an unwavering rule for most of us but there are a few like AMT4SWA who seems to make it work. Although, I'm sure he has a very, very disciplined method to extract or hedge himself when he is wrong.
For most of us even if it would work 99% of the time that 1% or 0.1% of the time the market gaps and runs against us we might as well put a gun to our heads. Ask some powerful floor traders what happened to them in the fall of 1987 by averaging down.
For most of us even if it would work 99% of the time that 1% or 0.1% of the time the market gaps and runs against us we might as well put a gun to our heads. Ask some powerful floor traders what happened to them in the fall of 1987 by averaging down.
Why don't we save the usless trading rhetoric for where it belongs -- trading books...
Trade-Ya stated that he came into the session short and was looking to add to his position. How do you all know that he is not still holding shorts off 1150?
Suppose though that he was short from lower prices, whats the big deal here? There is an enormous difference between scaling into a position and "adding to a loser" and if you guys can't see that then you would be much better served to continue spouting your regurgitated non-sense on elite-trader and leave the trading to real players.
Good luck with your position Trade-Ya...
Trade-Ya stated that he came into the session short and was looking to add to his position. How do you all know that he is not still holding shorts off 1150?
Suppose though that he was short from lower prices, whats the big deal here? There is an enormous difference between scaling into a position and "adding to a loser" and if you guys can't see that then you would be much better served to continue spouting your regurgitated non-sense on elite-trader and leave the trading to real players.
Good luck with your position Trade-Ya...
So far not looking so good. My hypothesis is that the market is run up by 'smart money' in an attempt to distribute to 'dumb' money via sideways action and then a late day sell-off when the dumb money has no-one left to sell to. Yes, I am short from great levels. Frankly, I don't see that really matters. I have a hypothesis and I shoot about 10% of my load at each interval that I am selling. In other words, I am scaling into a bigger position. Today my average sale is around 1134.50. Not great. Obviously, I can't know where this distribution will occur, so I have to average into a sizable trade. If the market doesn't follow my hypothesis, I will have to re-evaluate and be satisfied with my $/Yen profits and Euroyen futures profits. I'll try to keep you all posted. Thanks for the advice. Best. Neal.
I gotta get a kick out of posts that contains not a single mention of any R/R since you're posting about scaling into positions (or rather adding to a loser as I see it)??! So, what is your reward for all this risk?! What is the ST downside on SPX/ES. What month are you in?!
Hope it's worth it. Because to me adding to a ST loser has no connection with a plan or strategy.
And isn't ET designed to engender reasonably friendly debate?! Some guys here think that any contrary opinion or constructive criticism is unwarranted. That's an insecure personality "talking". How does one ever continue to learn and improve?!
And there is no doubt that anyone thinking they know it all, that they got it licked... is a loser for sure, and not just in trading... imho.I would think any trader that posts on ET would relish any contrary opinions from fellow traders when they're designed to make one think.
ICe
