Position trading vs scalping/day trading

This is a discussion on Position trading vs scalping/day trading within the General Trading Chat forums, part of the Reception category; Originally Posted by x75 In fact, a perfect case in point just occurred. I was short the FTSE when the ...

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Old Mar 14, 2008, 4:25pm   #9
Joined Dec 2004
Quote:
Originally Posted by x75 View Post
In fact, a perfect case in point just occurred.
I was short the FTSE when the US inflation figures came out, and it went north in sympathy, a long way past anywhere a stop would of been.
However, I left it; result a good profit.
Help!!!
Why did you leave your short on? Was it because the basis for getting into the trade in the first place hadn't changed? Or was it because you couldn't bear taking the loss or froze up, just plain hoped for it to come back, or something along those lines?

If your answer is that things hadn't changed, then you're fine. If it's in the other direction, you're in trouble. You need to correct things ASAP because one day you'll get caught on the wrong side and the market will hurt you very badly.
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Old Mar 14, 2008, 8:05pm   #10
 
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Interceptor started this thread When the trade went on I was convinced that it was in a good position. It's a little difficult to answer whether I thought anything had changed. We seem to be going through a period of hysterical market over reaction to, not just good and bad news, but even indifferent news. Following earlier experiences I decided to wait this particular piece of market silliness out, and fortunately it turned out ok.
Perhaps in these crazy times you have to filter out some of the market's excesses?
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