Still in trade. I use stop on bar close. I actually was able to scale in at a better price and scalped a few back down. She's going down, not if, but when. Mark 10840 on your chart, cause that's where she's going. Might get there tomorrow, I plan on holding a position overnight if I dont get it today. Just shorted a few more @ 10930 ... .... maybe I'm fighting the tape? we'll see.
that is called curve fitting....if your system requries changing as you go you do not have a good system....place it in file 13......
Judging by mhashe's posts regarding this trade, I think it is more a matter of "belief" than curve fitting in this case. Of course, the "magic of belief" in the markets is often associated with the "magic of disappearance" in account equity. I hope your trade works out, mhashe.
over and over they come here with the magical answers.....then they go to stocks or fx or something else.........I am thinking of quitting the YM trading......any suggestions?
How can you quit porgie? I thought you toiled 10,000+ hours on YM to come up with your 90% win system... or was it 20,000 hours?
I haven't posted is some time on this thread cuz Im trading ER2 and ES. Curious as to why you would quit the YM if your system is quite accurate (from what I remember)??
Stops are very expensive insurance policies where premium is paid out only when the event that the policy was written for occurs. In this case the event did not trigger, hence the premium was not paid. I've learned for my trading system, it's cheaper to use discretionary stops and actually *wait* till the price bar closes *above* my stop before paying out. Also I set my stops far away enough, otherwise, in the long run, all I'm going to be doing is paying insurance premium instead of cashing in on the trade. I use hard stops overnight (when not trading other overnight markets) or when I feel the market is moving too fast. This year I plan to learn more about options so I can hedge my trades with options and completely eliminate stops. That way I can initiate larger swing positions without worrying about the midnight B.S. or random price spikes caused by scared money. Exited 2/3 of the posted position @ average 10923. Ave. -18.
At the risk of going off topic, I will say that SC has the tools to get ahead quickly and put real pressure on Texas. If that should happen I would guess we will see a game similar to last year's game against Oklahoma (55-12?)