Went flat
#11
Posted 22 February 2008 - 12:48 PM
#12
Posted 22 February 2008 - 12:52 PM
#13
Posted 22 February 2008 - 12:53 PM
I stopped posting RT trades in here a long time ago. Its only good for ego for the most part.
I appreciate your rationale for WHY you enter/exit, however.
Trade safe. And stop taking things so personal
dcengr,
Wasting energy on this kind of crap is why i moved to a blog. I saw a compelling setup and that's why i posted on the main baord. Since i posted the trade entry, i posted the closing of the trade as well. Back to my blogging hole.
#14
Posted 22 February 2008 - 01:07 PM
NAV...Help me out here. In terms of SPX, I thought your stop was 1320. I'm not looking at a chart now, but didn't it move up to about 8 points on the opening and then fail. I would have assumed your stop would have moved up somewhere in the neighborhood of 1328. What made you change the stop? Was it the force and speed of the initial failure? As soon as it started to fail, I bailed. However, I was in a rather illiquid instrument and I did not get a good price, though the general markets were still up. I learned not to trade thinly traded ETF's.
FrankT,
Today's high on SPX was 1348.
As for your question on stops, i always have hard stops. I exit either when my hard stop gets hit or when my signal fails, whichever occurs first. Today was a case of my signal failing. So i am out even before my hard stop was hit. Signal failing is usually a harbinger of your hard stop getting hit eventually, ( although not all the time ). This strategy has saved me quite a lot of money over the long run.
#15
Posted 22 February 2008 - 01:11 PM
#16
Posted 22 February 2008 - 01:11 PM
Let him buy again
And when he capitulates the 2nd time, I may cover
Personal or not....no one want to hear something like that after a losing trade...large or small.. You were basically calling him a fade. . . at least that's the way I interpreted it...and I'm sure Nav did too. Just wasn't necessary....no biggie...but not needed...
#17
Posted 22 February 2008 - 01:15 PM
"Its only good for ego for the most part"
I disagree. Placing real time trades can bring credibility or maintain credibility. Some folks here may have plans to start a service or may already have a service and want to demonstrate credibility. For someone like me, I have no such plans and it makes no sense to place RT trades but i do pay attention when others do. It takes alot of courage to place RT trades and even more to come back and talk about a busted trade.
J
Tough to post 8 trades with various profit taking points and adjusted stops within less than 8 hours of trading....just can't be done...especially in this market. Swing positions are different.
#18
Posted 22 February 2008 - 01:25 PM
Nav,
I stopped posting RT trades in here a long time ago. Its only good for ego for the most part.
Yeah right ! Posting a real-time trade is all about getting one's ego massaged. It's not about showing TA works. It's not about sharing trade management techniques with the board. On the other hand, posting exits on trades for which neither entries nor stops were posted is a noble activity, devoid of ego needs and of tremendous benefit to this community and a learning experience to others. Thanks for educating me !
#19
Posted 22 February 2008 - 01:26 PM
FWIW, I've taken 70% off, and tight stops on remainder. Not as trending as I'd like, but theres a few hours left
Let him buy again
And when he capitulates the 2nd time, I may cover
Personal or not....no one want to hear something like that after a losing trade...large or small.. You were basically calling him a fade. . . at least that's the way I interpreted it...and I'm sure Nav did too. Just wasn't necessary....no biggie...but not needed...
#20
Posted 22 February 2008 - 01:27 PM