MBA number just released. Another non-event. However, its effect will be seen in the market. The question is when.
7 point (996-1103) range for the day must be daytraders' hell glad I am not daytrading spent most of the day in meetings recently actually feel more excited sitting in endless meetings than watching this lifeless market, that's strange
8/20/03 Day 3 Bias: down Position: open from 990 on 8/15/03 P/L: -9 points Sell and hold P/L: -9 points No fear, no greed, lots of patience
Hey Random, I am curious about one thing. If you are still holding the contract into expiration are you just going to roll it over? Good luck indahook.
Yes, if neither my stop (20 points) nor my target (8 points) is hit during the next month, which, of course, is unlikely.
I quit reading after about 50 posts or so and I do not know if anyone has said this, but it is one thing I learned ealry: NEVER TRADE WITH A BIAS. I wish you the best.
It's too bad your stop isn't a tad higher, 1010 is (what I call) an Interesting Number. 1010.75 might be better.
First, never say never again. Nothing is absolute, including all the 1,000,000 trading rules you have read from the 50,000 trading books. Any sentence with "never" in it should always have a question mark at the end, except, maybe, "never say never again". Then, I am not sure if you know what I mean by "bias". It's the center piece of my experiment. Without "bias" it no longer makes sense. Please go back and read the rest of previous posts to understand what I am trying to do.
That may very well turn out to be a good call, like bubba7's call of 1003. Both my stop and target are soft. I may stop at a loss of 15, or 25 points, or take a profit of 5, or 10 points, and try to reenter. When I pull the trigger depends on my mood at the time. I don't use a mechanical system because I know I cannot refrain from interfering with it. So why not leave some freedom in the system to begin with? Knowing one's weakness is more important than knowing one's strength.