1/4 position L @90, stop@ 82 -OR- add 1 @97 EDIT: stop @85. waiting to be proven right or wrong sucks. EDIT: funny, as soon as I wrote that last edit, I knew what I should've done. ooooommmmm. Stopped @85. Waiting to be proven right or wrong IS wrong. EDIT: gone to lunch. Arbys 2 for $4 fish sandwichs = brain food.
Brain food is working. I've noticed a few things regarding MY trading the last 3 trading days. Firstly, it's important to say my trades have a time aspect as well as a price aspect. 1) Recent price action has been limited between narrow price zones. Today for example about 10pt zones based on the zeros (60,70,80, etc) . Almost like pivots! 2) movement from zone to zone is occurring at the far-end of the time spectrum. Because such moves take abnormal time to work, it is being greeted with s/r mentality, capping and plugging the action in the then current zone. It is this, what i consider abnormal time aspect, that is playing havoc with my entrys and subsequent risk management based on price. For the rest of the day my plan is... A) full positions only. Put on towards the tail of anticipated time spectrum. Of course, clear-cut time/price opps are always an option too. B) Stops will be placed for catastrophic purpose. Not necesarily at a price for taking me out. Since the trades will likely be time heavy, it should greatly enhance (ie reduce) market exposure by providing much faster feedback to the validity of a trade. Now that I *think* I got it figured out, the trading environment is gonna change. Just watch. Good trading to all. Osorico [green, but not pleased with stats or money]
S @73 Out @60 NET +12(x4) Will reneter short @55 on sell stop, if happens within 3m or so. EDIT: out @49 NET +5(x4) MAY reneter short low 60's. EDIT: S @64, watching closely for adverse move into next zone. EDIT: Out @58 NET +5(x4) This 50 area has been a MAJOR consolidation zone for several days. Prudent not to second guess it.