Everything is moving like molasses today. Anyone else noticed? I guess all of Wall St is on vacation. haha
Correct. If their W/L is 60=70%% and their average up day is $30M then they can withstand the occasional $15M-$20M drawdowns. Hopefully their worst drawdown is not $60M.
I think you're wrong in your thinking here. You cannot aim for $1K average as the market has no obligation to give that to you. Have you studied the trade long enough to know that it can give you $1K average? I doubt it.
They're waiting, its holiday time, they can afford to wait. They're waiting for others to follow through on the Chinese tariffs row-back, for Jackson Hole and for the Fed to firm up what they're planning to do. Worst of all they're possibly just waiting for another Trump tweet.
That's why I laid out the calculations to account for losing days and flat days. To have an average $1K then on good days I should shoot for $2K+ so that when I average over time it will work out to be $1k/day.
Surf liked to show on ET the keys to his car and his wrist with fancy watch on. He was proud of Price Drivers but it was a Pile Driver. I think OP of thread got it right Note the debris in pic.
Today is flat. I guess I'll just save my ammunition for a better day. Relax and not try to force a trade.