Game over...out with +12. This cycle ... +18 <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1542017>
+7 -10 +9 +7 +4 totl= +17. Broke dicipline on the -10 trade and put the -6 stp back to -10. Not good. Argghh. I may look for a trade tonite. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1544441>
Hey Boib .... im still (*&^$%#@ upset. Bulllshiitt!! I wuz fiddling with the targt and th price jumped against me real real quick... frac of a sec is all it took for me to yank the stop back... pure reaction...crap!!!.... ok, it was just 1 car...not a big deal, right?? Thing is, if i had been swinging 20-40 cars ( yeah, i could-easy) then the $$$ would not be "trivial" - at least to me. Oh well ... anyway, good to hear from u Boib........
I usually enter with a bracket trade then adjust my target if it happens to move in my direction. that way if it hits my stop while i'm changing the target I get taken out where I'd planned.
Boib, Yes, brakets are very popular. When i send in an order, tgt and stop are included. The "spread" between them is typically 12 to 14 tics. Now, say im long and the trade goes my way and im up 13 and ive move my tgt 6 tics higher(13+6) And, maybe it looks like the up-move may be playing out. While this has been happening i have also moved stp to say, +11. Then i might bring the tgt to,say 15. Im pinching in on the b/a to max what i get out of the trade. Of course, this assumes a tight quote spread. In other words, if a trade is going my way i may want to move the stp up as much as possible but i may not want to move the tgt by the same amt. Ref. See the top pic on pg 148 and the one on pg 152. later...
+5 -8 +11 -15 +5 +10 totl = +8 Not to good. CST time <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1546395>