emg, pleeeze trade against your calls for once. You would have racked up enough coins that would put pek to shame.
It was a close one, though. If I'd shorted when he first made his post, my entry price would've been closer to 1317.00 with the stop loss @ 1318.50. But I didn't trade until after NYMEX closed, and my stop was @ 1317.75 and I kept wondering if I should move my stop to where it would've been if I timed my trade properly.
You guys can't possibly believe EMG trades like this right? It's all one big farce, notice he's always moving it to keep the farce active, except those times, where he just cannot due to unforeseen event.
Question for Nexen: When price came so close to your tgt 1, pulled back to the HL, failed to revisit the high and broke down the range low, why not take profits early and reverse? I've noticed in general that a lot of traders working for bigger swings let the initial stop loss get taken out even when it looks like a good reversal set up appears. I imagine the times the bigger targets get hit outweigh the losses in the long run, but I could never do that.
If you follow EMG long enough, you would know EMG's 1 point profit principle. Anyway, you got to respect his uncanny call most of the time.
I'm sure there are different theories here but for me, it's always target or stops The minute I start modifying my plan, my expectancy suffers so I just don't interfere with it. Same with trailing stops, kills expectancy. Winning, losing its all good, not trading the plan, that's a problem I don't want to have. Most traders rather take small profits than a small loss, makes sense, it's very reasonable, what they fail to see is that by taking small winners you interfere with big winners. Least in my case.
That also cannot possibly be true. If you notice he very rarely gets filled to get that +1, the under capitalization is comical because the gains are very infrequent. He's pulling quite the farce and you guys are falling for it.
Turtle Traders were taught that way too. They had many more losers than winners. But when they were right and rode it...........https://www.bsp-capital.com/documents/turtlerules.pdf Different strokes.............
I don't think any one really follow his call to go get that ONE point profit. And again no body really cares whether it is true or not that he go for that one point profit, but that was what he posted. if you try to find out if it is true, you need to PM him.
I was in a trading room with Geez for a long time and he, too, did this, and it made my brain itch sometimes I, too, set targets and hold unless a reversal setup appears, but I place my stop to b/e after a certain move in my favor. This definitely reduces my profits over the long haul, but it's a comfort factor for me at this point.