if i want to pull out my sunk cost first then this account is now up 70 dollars. net of all fees and commissions including suck costs. if i want to push back the sunk cost this account is now up 2270-1700= 570/1700= 33.5 % I am 1/3rd of the way to my goal of doubling this account in a little over a week. as i gain value in this account as i said with my plan i will start to try and pyramid some profits but so far I have just been slinging 1 lots.
todays nq range was 148 points from low to high so i still did not capture the total range. i captured 137/2 points = 68 points. NOT EVEN HALF!! of a 1 lot full range! open to close points = roughly 63 points so i BARELY beat a buy and hold strategy for the day and i put in a decent amount of work!
the overnight mkt took 84 bucks from this account the other day. i am working at getting it back. having a beer while trading.. not the smartest but its just one! done for night and the day! need a deserved break!
everyday i am looking for that big sell off and i want to sell with it big time in this account but so many times lately it just doesnt happen! maybe tomorrow ??
You and me both. I have relegated myself to being a long-only trader, because the sell-offs, while sharp, are too brief. When they snap back, they snap back just as sharp as the sell-off. And they keep going. So I am constantly wondering, where the hell is the next correction? Seems to me that sell-offs are no longer technical in nature, but news/event-driven. For now, the only event I can see causing the next immediate drop-off is profit-taking before end of year, to capture lower capital gains taxes before the Biden effect.
in general i would say I am looking for a sell off due to the fact that nothing goes straight up forever and we are still in a gov bailout period once again but this time it is different. as much as the gov thinks people and our tax revenue dont matter the will realize the trillions it will take to bailout the cities here eventually. technically when it says sell you should sell time frames. weekly, daily, 5 and 3 minute