If you do not understand something, then ask me a question...so easy! No blur in my postings....EVER! I hang it out with my beliefs as to what the market will do...this does not mean that I am right or wrong...it just means this is something I am doing. I post my thoughts here to add to the ideas in trading and market direction for all to debate in a constructive manner. When something is working for me I will ALWAYS share this with others...that is who I am as a person and will always be...PERIOD! I love trading and I love the challenge of Position Trading, so I will continue to post my Position Trade activities...take it or leave it! Chris
Institutions do this exact type of Position Trading and they use a 25 point stop for each position layer (entry price level)...that is what they do. I have stops that I set by what I see in previous price action combined with what is the overall cost basis of my entire trade...plus how many contracts total I have in the trade at any one time...but I will say that my stops are very wide. I use the overall size of the Position Trade as the primary risk management factor for this type of trading. I would also say that I take a much bigger risk in my trades then most from what I have seen, and that is my personal choice. Each person has to formulate their own risk tolerance which we all know...but I am a firm believer in the fact that, "Risk Pays". Chris
There seems to be a lot of jealous traders on here of your success. Don't let them get to you just because they can not picture themselves doing it or what ever other limiting beliefs they have no matter how many years they have been trading. Instead of focusing on how it CAN be done they chose to focus on all the reasons why it CAN'T be done. I think your trading follows your thoughts. So if a person believes it is impossible to make a million dollars a year. Guess what -- I doubt they will ever make that then. That goes for trying to accomplish anything.
I do not think that ICE is being mean or anything...I think he made a post based on curiosity...and that is good. Iceman...I usually only work three nights a week (one of those nights is on the weekend), and I have been able to adjust my lifestyle to fit both trading all day and working three nights a week (III shift). I will not be doing this much longer though as I have stated before I will be leaving the airlines soon. I have SWA stock options that will not vest until just after the first part of next year, and I also told my wife early in this year that I would stay at SWA until this time period is reached. I have been around aviation now for 19 years so It will be hard for me to leave in some aspects, but I am totally ready for the days of freedom from an employer! Chris
I will post what I know of later this evening...I will be leaving soon for some Christmas shopping with my wife. I want to take my time to explain it to you, so it will be very clear and make sense. Chris