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"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
- Start date
Quote from gotta_trade:
At one point you were down over $60K, did you have any sort of stop loss or exit plan?
The quick answer is I'm not using margin so I was never in danger of blowing my account or anything.
10/17:
SPY -$18,867.00
hedge -$1,241.20
Net for this trade
-$20,108.20 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
-$6,039.71
Quote from gotta_trade:
At one point you were down over $60K, did you have any sort of stop loss or exit plan?
Quote from 1a2b3cppp:
The quick answer is I'm not using margin so I was never in danger of blowing my account or anything.
I wasn't asking if you were in jeopardy of blowing your account.
At one point you were down over $60K, did you have any sort of stop loss or exit plan?
Thanks!
Oh, my bad. Usually when people ask about exit plans with average down strategies it's because they're worried about blowing their account.
There is no exit plan in the sense of "take a hard loss at a certain point." Dividends and hedges soften the blow, and I don't really have any issue with holding drawdown for a while, especially when I'm getting paid (dividends) to do so.
There is no exit plan in the sense of "take a hard loss at a certain point." Dividends and hedges soften the blow, and I don't really have any issue with holding drawdown for a while, especially when I'm getting paid (dividends) to do so.