POLL: Cover my YM LONG @ 12395 ????

Discussion in 'Trading' started by chewbacca, Jan 17, 2008.

Cover my YM Long at 12395 ???

  1. yes, cover

    2 vote(s)
  2. no, don't cover

    3 vote(s)
  1. i usually daytrade ES (3 Lots) - i made 1500 getting short earlier and i'm done for the day.

    i usually never swing trade.........but today i went long YM at 12395........and bam instant -20 DD........i'm wondering if i should hold or not..........feels like short term bottem likely to be put in today or tommorrow or else this thing goes down another 4% - which would be unprecedented for January..........

    i'm thinking rally going into the fed 50bp cut........then febuary is an inside month........then more fireworks in March/April......
  2. don't puke at the lows, cover next strength if you are uncomfortable...but more importantly don't take positions spontaneously and ask for advice on message boards, that is not a winning strategy...
  3. i'm up 1500 in es and 500 in spy so i'm done for the day.....i'm just here out of boredom........

    i'm not even going to set a 50 point stop cause i can easily get shaken out with this level of volitility.........if ym reverses today i'll hold otherwise i'll probably cover at eod.

    where is ppt?
  4. i'm out - this market looks like it is 1325 bound on the S&P cash which is only 20 points lower from the lows

    added at 12325 then sold at 12355 for 60 dollar loss

    i remind myself to stick to daytrading, swing is too stressful and too risky with the added hold time, anything can happen