Help! Get out or not?

cricket

Junior member
27 0
Well got myself in a right mess here, Just finding out other peoples feelings on this one, I am on a short with the Dow(March)about £2.5k down, But this route up seems to never end, Should I Eat humble pie or stay in and see if the Drop happens soon, Any coments on this matter would be gratefully received. Thanks to all
 

Dow Dog

Well-known member
409 0
If I were you I'd stick to cricket.

Major correction on the Dow ( up to 5% ) does not appear imminent but it probably will come at some stage. It will need a good shake-out at some point - like my dog's blanket.

Depends how deep your pockets are and whether you have nuclear shock absorbers in your underpants.
 

osho67

Well-known member
407 3
I was long on FTSE two years back and ftse was falling all the time and i was hopeful this is the bottom and it never was. i lost and could not fulfil the margin call and was forced to close with heavy losses.
 

Dow Dog

Well-known member
409 0
As a matter of interest, how much per point are you playing for ?
 

MCGF

Well-known member
339 0
Dow mate im confused!

Ive lived in essex for 21 of my 22 years and have never heard of this place Nassau that u speak of-lol!

Where be it?
 

MCGF

Well-known member
339 0
I know it difficult, especially if u not got much money to play with now but u gotta look at it as if the moneys lost and base ur decision as if u were starting with scratch and go with what u would do from there?
 

cricket

Junior member
27 0
£7 per point (split like this) £2 @ 10074, £2 @ 10174, £3 @ 10264. HHHMmmmmm Time to make my mind up I think. My stop is at 10700, But thinks it will hit there.
 

grubs50

Well-known member
408 0
unfortunately u traded what u felt and not what u saw..............IMHO u r better off cutting ur losses (u don't have to take my advice tho!)
 

Dow Dog

Well-known member
409 0
You need a 350 point correction or around 3.3% ( plus any more up from here ) to get your money back then.

Not out of the question if you can afford to sit it out for a while.
 

jonnyy40

Experienced member
1,329 11
Unless you've got some evidence you shouldn't have done it in the first place.If you have got some sort of system then think about options?
 

Dow Dog

Well-known member
409 0
Simple question.

Are these losses hurting you ?

If no - sit tight

If yes - get the **** out
 

tradesmart

Experienced member
1,286 22
Cricket – the way I see it you’ve got 3 options:-

1. Cut now and put it down to experience, and hope that you can get it back quickly on good trades.

2. Open a ‘balancing’ long – this way you won’t be losing (or gaining!) any more, and when you’re SURE that a downtrend has started, close long and open more shorts (bigger ones?) which could bring you to breakeven and onto profit quite quickly.

3. Average up by opening more shorts as the price rises; which could get your money back quickly on retracement, but adding to a losing short position in a bull market is plainly dodgy – the index could rise another two hundred points before it has a serious retracement.

The market has had an incredible rise, and any disappointment in the earnings season, which is just starting, could take the index sharply down several hundred points.

It all depends on how deep your pockets are, and how strong your stomach is!

The first cut is generally the cheapest, and a tight stop-loss is your best friend in these volatile markets imho

but you know that now..... :|
 
 
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