whats it like to be short into a ramp like that?

reveal your pain here.

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I got out just before takeoff. +65/ day

 

:eek:....going to happy hour to drink me sorrows away...In the end it is only money...money does not rule me.

 

This is why we use stops.

 

yes, well stops are nice.

bet you get stopped out at the extreme a lot more often than it saves you from a quick 10 point loss.

 

If you're stops are getting hit at EXTREMES then your stops are too far away. I'm not sure how you're trading, but stops should be much closer. It shouldn't be getting clipped at the end of an extreme move.

In fact i move my stops to breakeven within 10 minutes of entering a trade.

 

phyka, how many ways and how long did it take before u were using stops intelligently, i get burned most of the time, the burns are worse than not using them

 

I actually got long at 3:35 expecting the run up with fundies sending in all they got for window dressing

 

not very nice!

Although i was short from 550 in the YM was sitting comfortably all week - until that last 30 mins of trading! bah

I dont believe it for a minute - either someone getting liquidated / fat finger - or someone knows some serious news about GM.

If no credible news over the weekend to justify the sharp rally - i might just add to the shorts and let em run.

All fun and games in the dow these days eh! LOL

 

feels better to be long. duh.