firewalker99
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added to my short from 13750
Thanks FW, it does appear that some weakness is showing, but one can't be sure. I have a stop in at 59 just in case.
Obviously needs to break 600 for it to start tanking. Fingers crossed!
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Good afternoon Sir.
firewalker99
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I kwnow I shouldn't, but I moved stop to 79, on the basis that 59 was a bit too close for comfort. Sure enough it touched. Any thoughts on the stategy? Always a problem setting stops too tight!
Problem is I am now 'running' a bigger loss of course.
Sorry that should read 'strategy'
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firewalker99
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I'm looking at dax too and that's a pretty strong bouce off 8100 (fut)... I took several shorts on dax today all profitable, but now it looks like it's done moving lower
This is always, always my biggest problem, i.e. knowing where, or how tight to set stops, especially on a forward contract which offers the 'choice' of staying in? I never like to take loss and then see it come back almost immediately into profit, but then this can obviously result in the loss being much bigger, when the stop is moved away. Any thoughts guys, am I totally wrong in doing this? Or do you fellow traders also do the same 'sometimes'?
Actually, the truth is, I can answer my own question here, my biggest problem is not taking a profit when it is on the table! Could have taken a good profit on this trade earlier.
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Dinos
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Hi tricks, I don't like to take losses, nobody does. I have variable s/l depending on volatility of the market as I see it and depending what I hope to achieve, from 10 to 25.
Persoanlly, i think its best to have a standard s/l, apply it rigidly, you know when you place the trade how much you could lose.
Probablt doing nothing major wrong, maybe just need time to reflect on how you do things
Persoanlly, i think its best to have a standard s/l, apply it rigidly, you know when you place the trade how much you could lose.
Probablt doing nothing major wrong, maybe just need time to reflect on how you do things
Hi Robert,
Given my post above #3815, are you still short, and if so, how tight do you ordinarily set stops? Or is it 'arbitrary' depending on the volatility of the market?
cheers - Tricks
Thanks for that, sorry but I was typing my question as you posted.
cheers
Are you using SB firm? If so I presume that you have been taken out on the second short.
