YM Traders
- Thread starter volente_00
- Start date
http://online.wsj.com/public/resources/documents/b-econoday.htm
Released on 9/27/05 For Sep 2005
Confidence Index, Level
Actual 86.6
Consensus 98.0
Consensus Range 90.0 to 101.5
I use stops, but then I move them, thus it is pointless to have stops for me. I also sometimes add to losing trades if the circumstances are right.
I just don't like taking some off the table, When I take profits, I would like to take the whole thing off and get started on a new position.
Yesterday, my average hold time was 9 mins. Today it is 39 minutes.
I am done for today.
Yeah, I guess I loaded up at the open, at is started to go up. I thought, maybe the rally I expected yesterday would be today.
And I let the stop get away on that one. Because I was profitable, I just couldn't bring myself to take that stop.
And then I shorted it at the SUPPORT... 450 is a huge support.. and I didn't realize that till I got into it. I didn't have time to draw my S/R lines for the day.
I added 2 more to that 6 contract position, and I had a chance to get out of that one at BEP at 460, but I held on... Thinking, maybe the support might not hold just this one time. But, anyway, I got stopped out at the very top on a huge tick. How is that for a good day?
Yeah, I guess I loaded up at the open, at is started to go up. I thought, maybe the rally I expected yesterday would be today.
And I let the stop get away on that one. Because I was profitable, I just couldn't bring myself to take that stop.
And then I shorted it at the SUPPORT... 450 is a huge support.. and I didn't realize that till I got into it. I didn't have time to draw my S/R lines for the day.
I added 2 more to that 6 contract position, and I had a chance to get out of that one at BEP at 460, but I held on... Thinking, maybe the support might not hold just this one time. But, anyway, I got stopped out at the very top on a huge tick. How is that for a good day?
I can understand not using a mechanical stop ripley.
Thats what I do; but I need to have some way to use a mental stop and one that works (either one I stick too)( or one that is movable and that I stick too).
Same thing happened to me yesterday; ... I was long YM dropped I figured ahh its just a fakeout; I'll keep holding then sell once it comes back up. It dropped again. By that time I was down so much I was kicking myself
and wanted to dump it at the first sign of a pullback just so I wouldnt feel like such a numbskull for hanging onto that.
anyways I'm with you in the same boat; need to come up with some kind of real stop that will work and fits my trading style. If you come up with something let me know
Thats what I do; but I need to have some way to use a mental stop and one that works (either one I stick too)( or one that is movable and that I stick too).
Same thing happened to me yesterday; ... I was long YM dropped I figured ahh its just a fakeout; I'll keep holding then sell once it comes back up. It dropped again. By that time I was down so much I was kicking myself
and wanted to dump it at the first sign of a pullback just so I wouldnt feel like such a numbskull for hanging onto that. anyways I'm with you in the same boat; need to come up with some kind of real stop that will work and fits my trading style. If you come up with something let me know