Should you bring home your profits on days like today?

[smcoder]

It helps to have a plan. I was running 3 of my 5 strategies yesterday: 2 are intra-day and 1 is long-term.

The long-term strategy is a Dow long play, with pyramiding so this will run until all the positions are stopped out. Although the index has fallen back from its high, I'm not going to interfere with this.

The intra-day plays were split -
momentum trend-following trades on the m15 time-frame: these have a trailing stop
timed plays on the London session - these don't have stops: they are entered just before the London open and I close them around the London close regardless of price.

This gives me a spread of exposure to both positive and negative risk.

@tomorton interesting overall strategy. Thanks for sharing.

Thanks,
sm

 

[bone]

Every good trading system has profit targets and stop-loss levels. I am a proponent of swing trading, and I model longer term data.

Point being - you follow your well designed and tested trading system. You take your little piece out of the market and look for the next opportunity.

Based on the current gains of some of index futures, today the stock market will skyrocket and probably the stock market is already (highly?) overvalued. I always wonder, should you take profit on days like these or should you remain invested?


Thanks,
sm

 

[murray t turtle]

It helps to have a plan. I was running 3 of my 5 strategies yesterday: 2 are intra-day and 1 is long-term.

The long-term strategy is a Dow long play, with pyramiding so this will run until all the positions are stopped out. Although the index has fallen back from its high, I'm not going to interfere with this.
The intra-day plays were split -
momentum trend-following trades on the m15 time-frame: these have a trailing stop
timed plays on the London session - these don't have stops: they are entered just before the London open and I close them around the London close regardless of price.

This gives me a spread of exposure to both positive and negative risk.

%%
Good profits/good plan, I also put some of this in writing.
Investors can make more/let the profits run/may collect dividends.
BUT trading sometimes can spread the risk in time;
so agree with you +do both. I find 5 hour+ mopnthly charts useful...……………..
And a secondary goal is help market makers/ specialists/LOL/true.