He rode it all the way up to 2268.75 (didn't take the profit) then over night back down to his BE 2261.50 then from shortly after 4 a.m. the ride up began again all the way to 2269.50 (he still did not grab the profits) then after the wedge top he proceeded to ride it all the way back down to 2259.50. So, looking at the big picture. Forget the multitude of 1 and 2 point scalps in the market from the time he took his position. Just look at the big picture. He could taken 7 points on first ride up. Then shorted and grabbed another 6 or 7 points as it traded down overnight. Then he could have gone long and grabbed around 8 points as it traded up to 2269.50 then shorted and grabbed another 9 points as it traded down to 2259.50. So, big picture 30 points. So , he may, win in the end, achieve his goal, and preserve his rules but look what he missed. Strategy is one thing. Tactics are another. If he is so confident of his support/resistence/ profit taking/stoploss levels then why not change his tactical nature to maximize the profit within his levels? Ok while I am writing this another 4 points could have been made to the upside off the low of 2259.50 so make that 34 points. Somebody best make haste and do something as odds favor a ride back down in just a few minutes if it breaks south to 2263. Bottom line i do not understand his logic (but of course he isn't saying much about it) nor do I understand his tactics. Several times the market served him up points on a silver platter and he apparently snubbed his nose at the markets. DURN RULES! But I am of the baby boomer generation and we as a whole have never cared much about being hemmed in by rules. Of course, if he were trading with real money things may be different in terms of him holding his position.
Never mind i found the info from your first post. What started as a daytrade ended up converting into an overnight trade. Plus you did slide the stop down but only a tiny bit. Good luck maybe you will get a rebound in the afternoon. Odds favor you getting stopped out before the session ends but i could be wrong. You may roar back "damn the torpedoes" and blast the ship right out of the ocean! Who knows?
I'm assuming since he traded longer timeframes than us(months according to og post), he knows something that we don't. In my eyes, it also looks inefficient..but time will tell.
Would you please spill the beans and tell us about that so called (by nonlinear) Trump trade. Is it on the long side or short side and what entry price? Seriousley.
I remain long on this trade. I liked the look of the chart at eod yesterday so I am still holding long. I still like the look of the chart. Staying long.