Thanks! stirred not shaken out yet.....
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
The Surf Report--part 2
- Thread starter marketsurfer
- Start date
Thanks! stirred not shaken out yet.....
Where is your stop surf ?
Quote from marketsurfer:
Adding final contract at 1329. It's going to happen, the breakdown. However, not ramping up size....sticking to rules.
You said your mistake before was getting greedy and ramping up position size, to a whopping 3 contracts. You just added your third contract here to this position, going in as HUGE as you did the last position.
To paraphrase a famous quote, stupidity is doing the same thing over and over again and expecting a different result....
Okay, I stand corrected.Quote from marketsurfer:
1341.25
So, you are prepared to risk, by way of 3 contracts at different entries, a total of 31.50 points, or $1,575, for this trade. Will you tighten your protective stop at any point or will you just leave it as is until you exit, be it in profit or loss? Also, and not that I believe in them but because I'm just curious, do you have a profit target?
Quote from Mike Okistini:
You said your mistake before was getting greedy and ramping up position size, to a whopping 3 contracts. You just added your third contract here to this position, going in as HUGE as you did the last position.
To paraphrase a famous quote, stupidity is doing the same thing over and over again and expecting a different result....
No, I was substantially larger in the last trade. I expanded beyond my 3 contract limit--that was my downfall as I couldn't hold the position due to the heat/fear --- I posted this as it was happening.
Wrong question. There is proof that it IS in fact going your way. Or not. I think the faith part comes in when you expect it to do something it is not doing and continue to hold on to that faith as it continues to not do what you expect it to do. And especially at the expense of pre-entry capital.Quote from Rodney King:
Yes, that's what the dictionary at the reference desk says, but... when is there ever "proof" a market will go your way in the future?
I suppose it all comes down to context. And so, we'll see how surf's faith pans out over time and across a larger number of trades. This is why I had previously asked surf if he was going to keep a running balance of his P/L in this journal thread -- to establish this very context. However, he advised that he would not do so, thereby placing the very purpose of this thread in question.
Thanks for asking.