The Surf Report--part 2

[Spooz Top]

Surf
You`re now 7 handles under water with you 53 entry acting as todays floor...PA doesn`t lie....see ya @ 63/66 target..

not trying to rub salt in your wound but am emphasising on the importance of stops...especially when trying to catch a turn...one of the most difficult tasks a trader can attempt.

 

[marketsurfer]

You guys operate under such tight guidelines because you may be over leveraged? Needless to say, rumors of this trade blowing up have been exaggerated. It is down 7 points right now, and I am sticking with the analysis and holding for now. Nothing has changed. Best, Surf

 

[Lucrum]

Quote from marketsurfer:

... It is down 7 points right now, and I am sticking with the analysis and holding for now. Nothing has changed.

Have you already forgotten what happened the last time you did that?

 

[marketsurfer]

I realize this is not following rules, but I am doubling my position right now to 6 contracts. Entering 3 additional at 1360.00. No risk, no reward. Going in....

 

[Spooz Top]

Quote from marketsurfer:

You guys operate under such tight guidelines because you may be over leveraged? Needless to say, rumors of this trade blowing up have been exaggerated. It is down 7 points right now, and I am sticking with the analysis and holding for now. Nothing has changed. Best, Surf

i was basing this off of the blow off top analysis from yesterday...obviously that was negated?

more importanlty,you don`t have targets defined or R/R,risk reward scenario set....you`re basically dead in the water hoping for the best...i can`t think of a worse case scenario than NOT defining your risk.

 

[Gabfly1]

Quote from marketsurfer:

You guys operate under such tight guidelines because you may be over leveraged?

That's all well and good. But if your leverage is so low, with such luxuriant protective stops having all manner of elbow and leg room, then you will have to depend on the market going that much farther in your favor to make it meaningful on balance, especially in light of your arguably random entries.

 

[Mike Okistini]

Quote from marketsurfer:

I realize this is not following rules, but I am doubling my position right now to 6 contracts. Entering 3 additional at 1360.00. No risk, no reward. Going in....

Seems like No Plan or Brains, No Reward

 

[veritas007]

How long until Surf doubles down again?

 

[marketsurfer]

Please, Gabfly, leave this business to the professionals. It's a dangerous place for novices.

 

[Red_Ink_inc]

Quote from marketsurfer:

I realize this is not following rules, but I am doubling my position right now to 6 contracts. Entering 3 additional at 1360.00. No risk, no reward. Going in....

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3169306>