lol, you kiddin'? its 11 points away. I've already posted a +6 and a +3 SINCE that trade, so you could say that i'm 2 points down on this series of trades.... 2 points. SCARY! lol Not to mention i've posted about 90 points profit in the last few months! Annoying when people completely disregard all trades except one losing trade which pales in significance, lol.
To be fair he did say that his stop is ES at $0, so it's not really tremendous risk as he is greatly underleveraged, the only problem is potentially getting stuck in a position for a long period of time if market corrects.
Good Lord some of you are stupid/bitter. Excellent trading, Fed. Keep banking them points and ignore the losers
What if he did ? Is that trading to you ? Guys need to go back and study what happened with Nasdaq in the year 2000 and what happened to every index around the world in 2008. Come on now.
Listen to yourself. Consider the possibility of a major pullback ? Eventually the pesky daytrade past profits are wiped and erased with the heat. This is of course, assuming you are seriously underleveraged and avoiding margin calls. Now let's take it a notch higher, consider market reversal. This is not trading, this is suicidal, it works until it does not.
Nexen, I often do not agree what are you writing but this time you are 100% correct. I have close friend who bought Nasdaq "double bottom" around 3500 for his investment account and still holds that position. Ok, I agree that he will get breakeven someday, question is only if he will be living long enough. Btw, it is just 1 contract and he is wealthy man, one of best payed managers in my country so he can afford it easily. But how many of us could allow such luxus? And when he will get his money back in his account how much the money will be worth in fact? Prior 2000 could live family with 2 childs for $400 for a month (not well bul could). Today? Even twice as much is not enough. Therefore time is money, and long term stuck in position is already loss. I am averaging myself but not in breakout trades. If breakout failed than it failed, we must eat a loss. And I have "disaster stop" that will be very painful if hit but it will keep me in game. Btw, I try end trade immediately if it does not look working.
That's the nature of posting winning long trades in a forum full of bears who have been on the wrong side of the market for a very long time now and a praying for a crash.