Kudos to MMs

Discussion in 'Chit Chat' started by nitro, Oct 23, 2008.

  1. nitro

    nitro

    NFV 1072.78. SPX $1052.79.

    So people that took 24 are making money. Do we take it? Well, the impulse to do so is very great, but I say no. Wait until it goes to 14, then take profits on the second unit. Then when it goes to 7, take profits on the first unit. If NFV continues higher and SPX follows, you can make a killing this way.

    "The hardest part of trading is learning to sit" - Jesse Livermore.
     
    #1761     Aug 25, 2010
  2. nitro

    nitro

    NFV 1072.87. SPX 1058.27. That is close enough to 14, so take one unit off. Another seven convergence and we take the other unit off and go flat. Then we go to the opera in a tux with a supermodel to celebrate.
     
    #1762     Aug 25, 2010
  3. ammo

    ammo

    nitro,whadaugot here
     
    #1763     Aug 26, 2010
  4. nitro

    nitro

    NFV 1075.06. SPX 1,060.31.

    So there is long edge again.
     
    #1764     Aug 26, 2010
  5. ammo

    ammo

    thanks,for sharing,great thread
     
    #1765     Aug 26, 2010
  6. nitro

    nitro

    YW.
     
    #1766     Aug 26, 2010
  7. nitro

    nitro

    Notice that as soon as we go to 14, the market appears to take profits like mad, again causing edge. Getting close to 24 edge again.

    [​IMG]
     
    #1767     Aug 26, 2010
  8. nitro

    nitro

    NFV 1074.50. SPX goes out at 1047.23.

    That is > 24. Long edge.
     
    #1768     Aug 26, 2010
  9. nitro

    nitro

    For those that took the trade above, one of two things happened, you entry was ill-timed (no way to know you did nothing wrong) or it was well timed. In the first case, the pop in ES will entice you to take some profit or get B/E. In the second case you have a decent profit of about five handles.

    In either case, don't take it if you have the discipline. Stick to the profit targets.
     
    #1769     Aug 27, 2010
  10. nitro

    nitro

    NFV 1077.59. SPX 1051.95.

    Edge still > 24.
     
    #1770     Aug 27, 2010