So this is a custom indicator I have -- definitely one of my "go to" ones. The Parabolic SAR signal to buy has not triggered yet, although momentum has improved. This is one I used to show @Overnight that 2020 wasn't the "Black Swan" that he maintains.
I can only imagine that a weekly bull isn't happy with this development. Which is why I asked earlier where @formikatrading and @Master Pu would consider themselves wrong. I think M PU said he doesn't use trailing stops and I don't want to stir up an argument, but assuming one is long near the lows, it seems a bit of a waste to let a 200 point winner go back to zero? The market very rarely goes 150-200 points without a deep retrace, so the sensible thing to do is to pocket those 150-200 points and rather re-enter. Unrealized gains are ours to take, so any time we're gambling with unrealized profits we're still gambling. That was money we could take and put in our own pocket. We have a certain gain that we're gambling away on an uncertain larger gain. If it was me, I would at least lock in a profit below the weekly mid-point or so. Maybe last week's mid-point. With the trade I posted earlier today I trailed because we hit a potential reversal area and I wanted to make sure I pocketed at least something. I gave back 6 points unrealized, but if I held it at B/E, I would have given back 23 point unrealized by now.
What's your uncle point then? I don't know your and @formikatrading's position, but are you really gonna let another biggie go back to zero?
Respectfully, if you're giving back literally several hundreds of points trying to capture a bit more, that sounds like a flaw in your strategy. I'm biding my time a bit. My predictive model gives very good odds for a gap fill(3734) on the Open today, but suggests we can easily reverse from there.
Bit more sounds subjective and I never said that I am willing to lose 200 points for a possible gain of 20, etc
As predicted. I actually stopped out prematurely on a trail. Haven't traded the Open for a while and man that was some serious fast action. I was stopped out twice on B/E + 1 tick (my ATM strategies on Ninja does that after 5 points of profit or so), but nailed it on the 3rd entry. The predictive model says 30-35 will be a pivotal point intraday. We can easily reverse and tank. No strong edge right now, so I'm done. Stay safe, boys. It's dangerous out there.