Today

This is why I try to take one day at time if I don't have a good signal. I did see something that only slightly looked like sell but I didn't trust it, need to study those more closely. But just to stay in a position for no more reason than going with the trend is a lot more dangerous than people realize, in options, and could be a big loss.

CLK, Do you enjoy evening close to tomorrow morning trading? Or do you trade a position for few days? I understand your ^ post was when the futures were selling off. But, at the end of the day, SPX closed at -3 points. Big deal? If you are not heavily leveraged, and have gains from the past week, the 3 pt down day can be sustained, right?

CLK, Do you enjoy evening close to tomorrow morning trading? Or do you trade a position for few days? I understand your ^ post was when the futures were selling off. But, at the end of the day, SPX closed at -3 points. Big deal? If you are not heavily leveraged, and have gains from the past week, the 3 pt down day can be sustained, right?

I mainly trade close to close, but I will take profits on a gap if I think it may not run. I try not to hold more than a day
unless the signal is coming off an IT top or bottom, in the middle is too dangerous as you saw with the gap down this
morning, the board was bullish last night too, I thought it might go up but since I really did not have much of a signal,
better to not have a position. If I carry for more than a day, without a fresh new signal I'm taking on a lot more risk and have
to accept a slight drawdown sometimes to give the trade some room. Trend trading is great in hindsight if the move was
clean and you got in at the IT turn, not really for me unless it is a LT signal with 3x ETFs.

CLK, Do you enjoy evening close to tomorrow morning trading? Or do you trade a position for few days? I understand your ^ post was when the futures were selling off. But, at the end of the day, SPX closed at -3 points. Big deal? If you are not heavily leveraged, and have gains from the past week, the 3 pt down day can be sustained, right?

I mainly trade close to close, but I will take profits on a gap if I think it may not run. I try not to hold more than a day
unless the signal is coming off an IT top or bottom, in the middle is too dangerous as you saw with the gap down this
morning, the board was bullish last night too, I thought it might go up but since I really did not have much of a signal,
better to not have a position. If I carry for more than a day, without a fresh new signal I'm taking on a lot more risk and have
to accept a slight drawdown sometimes to give the trade some room. Trend trading is great in hindsight if the move was
clean and you got in at the IT turn, not really for me unless it is a LT signal with 3x ETFs.

Understand that, CLK. Taking profits never hurt. But, how long can one play cat and mouse game? Like trade interday. Isn't it pretty much a wild toss or a guessing game?

CLK, Do you enjoy evening close to tomorrow morning trading? Or do you trade a position for few days? I understand your ^ post was when the futures were selling off. But, at the end of the day, SPX closed at -3 points. Big deal? If you are not heavily leveraged, and have gains from the past week, the 3 pt down day can be sustained, right?

I mainly trade close to close, but I will take profits on a gap if I think it may not run. I try not to hold more than a day
unless the signal is coming off an IT top or bottom, in the middle is too dangerous as you saw with the gap down this
morning, the board was bullish last night too, I thought it might go up but since I really did not have much of a signal,
better to not have a position. If I carry for more than a day, without a fresh new signal I'm taking on a lot more risk and have
to accept a slight drawdown sometimes to give the trade some room. Trend trading is great in hindsight if the move was
clean and you got in at the IT turn, not really for me unless it is a LT signal with 3x ETFs.

Understand that, CLK. Taking profits never hurt. But, how long can one play cat and mouse game? Like trade interday. Isn't it pretty much a wild toss or a guessing game?

Yes, it's pure guessing if you have no proven technical system to go by. You have to find one that yields 80-90% correct signals.
You will go broke on a 50-60% system, maybe even 70%, I don't care what people say to the contrary.
When you get the system down, you have to trade the signals, you can't just look at it and say maybe it won't work this time, then
after you see it worked but you missed it, you then go in and chase what is already lost and then realy lose. Chasing after the fact
is the quickest way to go broke I know of. Once the signal is resolved there is no garrantee it will keep yielding profits, you are now
in 10x the risk as before the fact.