Carey's Journal

Discussion in 'Journals' started by cdcaveman, Oct 5, 2012.

  1. stopped out last night
     
    #191     Feb 8, 2013
  2. I looked up the pair, 20 day ATR is 0.0116 so it's easy to be taken out with a 20 pip stop.

    Were you looking for a short term move, or overnight?
     
    #192     Feb 8, 2013
  3. + BOT 1 CRM - FEB 15 '13 + MAR 15 '13 175 Call Calendar Spread 5.20 USD SMART 11:27:21 OptTrader 3.84 null


    earnings calender...
     
    #193     Feb 8, 2013
  4. sold..

    + SLD 1 CRM - FEB 08 '13 + FEB 15 '13 170 Put Calendar Spread 1.95 USD SMART 13:02:00 3.84 null sub account
     
    #194     Feb 8, 2013
  5. the 20 day ATR is .0116 thats in pips? so 110 pips?
     
    #195     Feb 8, 2013
  6. 116 pips. When you said stopped out last night, I was not clear if it was a monitored trade (ie short term) or left overnight.

    If left overnight, little or no chance with 20 pips; typically you want 1.5 to 2 times the ATR to be safe from noise on swing trades.
     
    #196     Feb 8, 2013
  7. pain..

    + SLD 1 SPX FEB 08 '13 + 1485 - (2)1505 + 1525 Call Butterfly 7.90 USD SMART 15:08:51


    -3.45
     
    #197     Feb 8, 2013
  8. wow thats alot 200 pip stops..
     
    #198     Feb 8, 2013
  9. Well with swing trading you are hitting for the fences rather than bunting. You will be looking for at least 400 pips profit.

    Anything less than 1 ATR and basically your are subject to being taken out by noise. If you are good at picking your entry spot you could get away with 1 to 1.5 ATR.

    Reduce your position size so that the wider stop is within your risk limit, or else stick to day trading. I'm not sure how IB is with forex trading below the minimum size, they say it's handled differently so you'll have to check.
     
    #199     Feb 8, 2013
  10. they do let you trade below the minimum.. i'll stick to that..
     
    #200     Feb 8, 2013