Posted by rgoodwin on 24th of Mar 2009 at 01:23 am
Matt, the reversal trade today I think was the key. I was just
looking at some of my systems - many of which were short on Friday
(I was flat for the weekend) but had I been holding all, then
reversed the trades on signals, would have still ended the day up
overall better than 3%. This isn't bad. It's not great, but 3% gain
beats losses of all levels. This market is tough and for those that
are having a hard time with losses - my suggestion would be to
avoid holding over weekends at a minimum. If you had taken profits
on Friday, and market went down more today, you could have
re-entered. More often than not, gaps up or down reverse in
the first half hour or so at least a decent amount - if you want to
get back short on Monday - then do it after the opening gap has
reversed. This way you are still working on prior profits, and
although you may have missed a few points, you are on the right
side of the trade without losses. My personal tolerance combined
with a news driven market, has kept me away from holding over
weekends much of anything outside of gold or energy trades.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Matt, the reversal trade today
one thing I've noticed is that the posters on the ...
Posted by rgoodwin on 24th of Mar 2009 at 01:23 am
Matt, the reversal trade today I think was the key. I was just looking at some of my systems - many of which were short on Friday (I was flat for the weekend) but had I been holding all, then reversed the trades on signals, would have still ended the day up overall better than 3%. This isn't bad. It's not great, but 3% gain beats losses of all levels. This market is tough and for those that are having a hard time with losses - my suggestion would be to avoid holding over weekends at a minimum. If you had taken profits on Friday, and market went down more today, you could have re-entered. More often than not, gaps up or down reverse in the first half hour or so at least a decent amount - if you want to get back short on Monday - then do it after the opening gap has reversed. This way you are still working on prior profits, and although you may have missed a few points, you are on the right side of the trade without losses. My personal tolerance combined with a news driven market, has kept me away from holding over weekends much of anything outside of gold or energy trades.