Offensive or defensive, it doesn't matter, your either in the market or your not. As for, "...well i'm not sure about this position, so i i'll buy less contracts than i normally do...", it doesn't give you a correct yardstick, does it? Aggressive or passive, don't mince around.
ROFL...you have got to be kidding....too funny.. Hey macro you listen to Phil Hendrie? He is on now... http://www.kfi640.com/interactive/streaming.html
Yes i have listened to him before --- is he talking about this tonight? HAHAHAHA! ok i have him on now --- thanks for the link. i have to confess something i did to my mom once months ago when i called and left a message on here answering machine-------- "heellooo...thiiis...isssa...Boorrraaat....fromma....kazakhstan i....lookiing...forra....gut....woomaan..aaa...aaa...canna....yooua...finda...fooa....meee she....mussa....hava....veryy....bigga....%%$"
More offensive w/in the trend (buying pullbacks), more defensive w/in the trading-range prior to the trend (buying breakouts). More offensive in the winning streaks, more defensive in the losing ones. More offensive for the greater probability setups (however you measure that), more defensive for the lower-probability ones. More offensive for the greater risk/reward, more defensive for the less so. And for the "psych" folks - More offense when you're "feeling it", more defense when confidence is not as strong. And always, always, having an open mind and willing to adapt to how the market, and thus your position, is going, as it's ever-evolving; prepared to switch on a dime from a more offensive posture to a more defense one as the market and your strategy dictates. Offense and Defense aren't really two separate entities, but rather two sides of the same coin, both components of a complete strategy, and both must be adjusted dynamically depending on current conditions relative to that trading plan. Harold
I think that the terms "offensive" and defensive" used in a trading context are fairly subjective and considerably open to interpretation. Therefore, unless all of the respondents agree on a singular interpretation of each term, then this debate is even more meaningless than it at first appears.