Fairly huge stops, then. I suppose that's what it takes. I did fairly well 1st 4 days of last weeks using relatively tight stops (3-5 points). Not so well on those today.
Last trade had a 22 point stop and a 99 point target - got to within 93 points and closed with 81. Crazy. Wish I had the stones to trade regular size so I could buy a bunch of congressional seats like Bloomberg.
Huge, but obviously worth it considering the reward. What size stop could you have gotten away with? The afternoon pullback allowed for a fairly decent low risk long entry if one timed it correctly. But for sure - one needs larger stops in this environment.
- G7 Now Drafting Statement On Coronavirus Response For Finance Leaders To Issue Tuesday Or Wednesday - Statement As Of Now Does Not Include Specific Language Calling For Fresh Fiscal Spending Or Coordinated Interest Rate Cuts By Central Banks - RTRS Citing G7 Source
Really? I approach it almost the exact opposite. The $VIX and my buying power are highly correlated, more magnitude and I increase my buying power.