whoa. this market is a daytraders paradise. wild apparently tradeable gyrations. we are continuing to hold ym shorts as the death drop appears to begin.
still at the beach.
surf
still at the beach.
surf
The Surf Report
- Thread starter marketsurfer
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staying short DJIA, no change.
surf
surf
Question is, how long after the fact will surfer tell us he got out of his shorts at a profit. Certainly cannot be making money today on shorts.
Well, maybe if your the great "surf" you can lol.
ahh, a careful reader of the surf report i see..... been short since 6.15 @ 13731.50 YM. holding shorts here, expecting additional downside.
regards
surf
yes.
hunting much bigger game here and enjoying the beach!
surf
Well, for the record, let's make it 180 points since the yesterday's lows. Here is my problem with your strategy:
You expect the market to go down in a straight fashion and it seldom does. It moves in steps. So here is my advice:
1. Comission is incredibly cheap with futures. 1 YM point gain basicly covers a return trip. So you shouldn't worry about getting in and out a few times more.
2. Since the market moves in steps and bounces, there is no point in NOT taking profits when it has already moved deeply in your favour and you can expect a bounce. THEN you can get back into the same direction, if you want to have one direction bias.
In the last 4-6 weeks you gave back about 600 points profits by not taking them when the market went down. The biggest deal can be that occasionally you miss a move even lower, but at least you would have BOOKED profits....
Learn to use Bollinger bands, they would help you when to expect a turn....
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