"take the money and run" type market

Discussion in 'Trading' started by Warrior4g, Aug 30, 2007.

  1. this market,in my opinion requires traders to walk away after a decent profit. i am up 410 for the day on shorting SIGM for a quick scalp. we were lucky yesterday but this current market will decimate those that over trade. prop firms may not like the smaller commissions but paying the bills is paramount so walking away after a good trade seems more logical than ever. what winds up happening is a 400 dollar gain gets dwindles away from commissions and very small 20 and 30 dollar losses. it makes no sense.
  2. my SIGM short was at 44.65 and i covered at 43.90. this was pre-mkt on the needham downgrade.the downgrade is bs as SIGM reported a blowout quarter with stellar guidence.
  3. lindq


    Yep, a long term hold in this market is about 6 hours, if that. Then move on.
  4. 400 dollars isn't much
  5. S2007S


    DOW down 40

    NASDAQ up 12.

  6. That equates to 400 shags at your woman....
  7. Or, 200 goes at your pet sheep....bah,bah,bah...
  8. Thats why its only your opinion. A veteran trader who is successful knows how to adjust their approach to cater to the action on any given day. Quitting early b/c you are up some money is so arbitrary.

    Days like this are the best for me, for how I trade, although almost any mkt (outside of the day before a major holiday) is perfectly suitable for trading from open to close. Perhaps you need more time to learn, I have no idea your skill level or experience. Just my humble opinion, but leaving early will only reinforce bad habits (quitters mentality/complacency). If you have a problem keeping profits, you should force yourself to sit through the entire day (after making some profits) and not pull the trigger. That alone, is a great lesson to learn.

  9. Some traders get all excited over making $100 or even less. Not joking.
  10. You need to be more humble.

    I know a guy who at 42 years old had over £7million/14million$ in the bank after selling his business and something he said stuck with me...

    "It doesn't matter how much money you have in the bank - that 100 you make in a deal will allways mean something"
    #10     Aug 30, 2007