Surfer Alerts

[Lucrum]

Quote from marketsurfer:

...I am brutally stuburn and want my way no matter what sometimes-...

Me, I don't mind being wrong. I just hate losing money.

 

[marketsurfer]

Quote from Lucrum:

Me, I don't mind being wrong. I just hate losing money.

honest question--

How are you able to stay with a winning position then? Don't you bail as soon as it turns against you? What about the regret of having a tight trailing stop take you out right before price takes off again in your direction? not to mention the commission costs eating away at profits jumping in and out.

surf

 

[cornix]

Quote from marketsurfer:

Yes, I have noticed that also. Not to mention my own personal issues with trading--- I am brutally stuburn and want my way no matter what sometimes- ( other times, i can trade quite effectively) - this is even to the extent of going against what i KNOW and what the SYSTEM says--- It has come to that point in this CL trade-- but I am down so much that a little more really doesn;t make a difference so I put a stop in and am just letting it ride now--- not even calculating the PD's. It appears like I am going to lose, but one never knows.
surf

Yea, being stubborn never works in trading. Like one great trader told me more than once: "be the girl in dance with the market". Needless to say how hard it is to do in reality considering most traders are classic A-type males.

 

[actionzip54]

Quote from marketsurfer:

honest question--
What about the regret of having a tight trailing stop take you out right before price takes off again in your direction? not to mention the commission costs eating away at profits jumping in and out.

surf

The bain of every losing trader, "But what if I'm wrong?". Until you learn to let that go you won't make any money.

 

[marketsurfer]

Quote from cornix:

Yea, being stubborn never works in trading. Like one great trader told me more than once: "be the girl in dance with the market". Needless to say how hard it is to do in reality considering most traders are classic A-type males.

Well, my experience has been that it can work. My largest wins of my career have all started out as losers and sticking with it resulted in impressive gains over time. But I have always been more of a speculator than trader.

Looks like CL may be bottoming here on the 5 mnute chart-- says my PA read--- price will not drop below 90.50 per surfer price action read LOL!!

 

[Xspurt]

surf if you're right about a bounce your stop is not in a good position. You're playing with a weak hand there. You need to make it a bit lower to avoid a stop run. Might as well give this a little more scope when you have held it so far

 

[cornix]

Quote from marketsurfer:

Well, my experience has been that it can work. My largest wins of my career have all started out as losers and sticking with it resulted in impressive gains over time. But I have always been more of a speculator than trader.

Looks like CL may be bottoming here on the 5 mnute chart-- says my PA read--- price will not drop below 90.50 per surfer price action read LOL!!

Frankly, daily & weekly are pretty bearish from TA point of view (see the daily chart I posted a couple days ago). Don't see much fundamental reason for such a drop though.

P. S. My own approach is always small losses, small wins, big wins. No big losses allowed, ever. Commissions don't each that much as many imagine, just a matter of being picky with quality trades.

 

[Placebo]

Quote from marketsurfer:

Well, my experience has been that it can work. My largest wins of my career have all started out as losers and sticking with it resulted in impressive gains over time. But I have always been more of a speculator than trader.

Looks like CL may be bottoming here on the 5 mnute chart-- says my PA read--- price will not drop below 90.50 per surfer price action read LOL!!

Cant see any strength yet, although I think were probably done here for now and will go side ways for a while.

 

[marketsurfer]

Quote from Xspurt:

surf if you're right about a bounce your stop is not in a good position. You're playing with a weak hand there. You need to make it a bit lower to avoid a stop run. Might as well give this a little more scope when you have held it so far

thanks, but I am sticking with it--- I have already mentally dealt with the loss. surf

 

[cornix]

BTW, sounds strange from a day trader, but for longer-term trades I would drop everything below Daily. Completely. 5-min action is absolutely irrelevant to the energy of big, longer-term moves.