Intraday money mgmt question - what would you do??

Discussion in 'Index Futures' started by xtrhvydty, Mar 3, 2008.

What would you do?

  1. Grab the lounge chair and cooler

    3 vote(s)
  2. Come back to kick some more ass

    6 vote(s)
  3. Eat like a bird, pigs get slaughtered

    4 vote(s)
  1. Ok, it's a really good trading day. Smooth curves, no chop, high volatility, lengthy trends. You are up 3% on your trading acct, just today, hitting 100% on all your trades. 11:30 et hits and you take your lunch break, normally returning at 2:00pm et.

    Do you:

    1. Quit for the day. That's enough. Be happy with what you got and don't get greedy. Feel good about your trading and enjoy the day. Mountains, beach, here I come.

    2. Keep trading during the pm session at regular position sizes. If it is a good trending/trading day, tomorrow may be flat chop slop. Take the good signals when they are available. Your system expectancy does not care how you feel. Just trade the system. If you have recorded and analyzed your trades, you know by now that you do best by just following the system. Have faith in your research and follow it. If you don't, why trade?

    3. Granted, (2.) has its points, but still, a human is trading the system. I'd rather just stick to some high probability, high r/r signals with 1/4 or 1/2 size positions. Then I am quite likely to
    add another 1% to my day, but if I don't, I still get to keep my 2% for the day without giving it all back. This seems like the best of both worlds, even though I know
    that I am perhaps weakening the performance of the system. Minimizing psychological damage is part of the overall system goals, and I need weigh this factor in as well.
  2. Trade the mkt, not what monies you have or have not made. Seriously, I understand why these thoughts go through ones head, but dont be a piker. If things are good and trades make sense, take them as you normally would. What you are essentially doing is lacking confidence in your approach and in yourself if you dont take em. Bad bad combos for long term success.
  3. quit for today and have some fun
  4. Dustin


    I used to quit when I was ahead years ago. It's not the right way to trade. In fact you should keep trading and up your size imo. Obviously you are in sync with the market so push it and take advantage.
  5. Definitely a recipe for underachieving.

  6. This is a probabilities game. If you are 100% winning for the day on multiple trades, odds are you will find that losing trade if you keep pushing and forcing trades just to be in the market. I say quit and go enjoy the rest of your day. The market will always be here. The hours of your life won't.
  7. Guess it depends on whether you believe each trade result is independant of the last or not.
  8. are saying that one should be afraid to keep trading just because of the possibility of a losing trade happening?

    If things are going well, continue to hit it. Obviously you cant get wreckless but quitting because of fear of a loss happening sounds ridiculous.

  9. faure


    I'd say push your luck - if things are going your way don't shrink back, up your size. Likewise when things are tough it's best to step back; you're not only trading the market here.
  10. If you are on target today, keep trading. Tomorrow could be a rough day for you and then what...

    Seems counter-intuitive to cut your winning days short. Do you at least cut your losing days short as well?
    #10     Mar 3, 2008