Quote from marketsurfer:
thanks big fish. yes, the system is designed for and specializes in catching monster moves in the indexes. i have been exiting trades prior to break even when various factors combine making me confident that price will go back into the channel hence breaking even or closing at a loss. however, my stops are still killer wide and i give up much profit in order to ride the big ones. i do re-enter sub channel of a variety of factors, today was a perfect example--see previously attached chart.
yes, i am still short oil. i do not have a firm exit point.
surfer
Quote from Maverick1:
So if I understand your answer to bigfish a few pages ago, you can let a position go against you until it hurts too much but also have been closing out other positions at small loss or breakeven on the assumption that you will re enter the market and win?
Is that right or am I missing something here?
Quote from marketsurfer:
yes, you are correct. that has been my philosophy lately on the index trades. the oil trade is another animal.
surfer
Quote from Maverick1:
Thx for clarifying. Sound like it requires almost inhuman patience to sit through drawdowns of the kind and little income while waiting for the big wave to come. Do you complement these kinds of trades with day to day intraday trading too?