1:30pm CDT - This is such a game of ticks. My stop entry on crude slipped 10 ticks this morning adding $300 to that loser. Then beans teased me and came within 2 ticks of my target but then eased back and was a tick away from a reversal signal before meandering back toward my target and through it. Whew!
Net breakdown (contracts traded):
ZS $1169(6), GCL -$1303(3)
| RESULTS FOR DAY |
|---|
| Contracts: | 9 |
| Net $P/L: | -134 |
| Wins: | 1
|
| Losses: | 1
|
| Win%: | 50 |
| Avg$Win: | 1169 |
| Avg$Loss: | -1303
|
"game of ticks"...EXACTLY.
ReplyDeleteYesterday I was shorting the USD/EUR.
4 trades, 4 losers.
All were short trades !
Last one occurred in the afternoon...took out my stop by only 4 ticks, and then went on for a huge winner as the Euro collapsed.
Bottomline:
Tight stops produce many, many losers
Yeah, it's a catch-22. Too wide of stop is bad sometimes, too tight is bad the other times! Wish my clock told me which time was which.
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