how often do you hear: "i just take what the market gives". o these catch phrases, the cliches. i only now understood what they mean by saying that. that means trailing your exit basically. meaning you dont go for target X (make or break), instead you trail your profits, but will possibly just bail if/when the supposed big payoff target hits. yea im slow, kick me
Well, yeah, 'trailing your exit' in a manner of speaking, but that doesn't necessarily mean using a trailing stop. It could be more like 'monitoring the trade for weakness' for an exit, a la phantom of the pit. Then you know the trade/market has given you just about what it could.
i think it means: putting your positions on per your strategy, and letting the market move how it wants. no guessing, no trying to skim off profits 'early' or cut losses 'quickly' -- just simply executing your system perfectly and not worrying about what the market will do, or how much it will pay you today. easier said than done. good trading
that is exactly what it means. it's not for scalpers but ok for day traders or position traders. very useful for IT types who trade in the office ? it really isnt that difficult. but you must sort out your trading system first.
Good point. While the day ranges have been contracting recently, the weekly range has been improving. Things are getting better for swing traders and worse for day traders(in general).