"The only way to trade with Fibonaccis" journal

12/27:

SPY: $6,302.00
Hedge: -$2,390.00

Net for this trade:

--------------
$3,912.00

 

12/28:

SPY: $4,974.00
Hedge: -$1,814.00

Net for this trade:

--------------
$3,160.00

 

Just don't get caught.

 

Don't get caught doing what?

12/29:

SPY: $6,006.00
Hedge: -$2,294.00

Net for this trade:

--------------
$3,712.00

 

Thought it was obvious: being unable to average down....

 

Update as of 12/30:

SPY: $5,510.00
Hedge: -$2,222.00

Net for this trade:

--------------
$3,288.00


Have a happy new year everybody!

 

1/2:

Gap up outta nowhere!

SPY: $7,110.00
Hedge: -$2,846.00

Net for this trade:

--------------
$4,264.00

 

Yesterday should've said 1/3, not 1/2.

1/4:

SPY: $7,270.00
Hedge: -$2,906.00

Net for this trade:

--------------
$4,364.00

 

1/5:

SPY: $7,542.00
Hedge: -$3,050.00

Net for this trade:

--------------
$4,492.00

 

I think the current trade you've got on is a good illustration of how this method is not particularly well suited to an uptrending market. You won't lose money trading this way in a bull market but you also won't get the chance to put on much size.

Not intended as a criticism, just an observation.