1:50pm CDT - This was the most frustrating week in recent memory. Today if crude had moved 5 cents higher, I would have a $2500+ day instead of $128. I don't move or trail stops so after having a paper profit on CL long trade of ~$1400, it double topped and never went higher eventually hitting my stop loss and I booked -$1273. I need to do more homework to see if using trailing stops reaps more over time. Last time I studied this, it did not.
Net breakdown (contracts traded):
ZS $1402(24), GCL -$1273(3)
| RESULTS FOR DAY |
|---|
| Contracts: | 27 |
| Net $P/L: | 128 |
| Wins: | 2
|
| Losses: | 2
|
| Win%: | 50 |
| Avg$Win: | 1021
|
| Avg$Loss: | -957
|
For the week, net was
-$3880 in crude and
$3450 in beans.
Posts
i guess you are more likely to prefer beans for breakfast and trading..hahaha..hey has beans got good volume on them ?
ReplyDeleteIn the YM my own studies have shown the same..that trailing stops aren't as profitable as just sitting and waiting. I AM a big believer though in locking in B/E+2 at least (that's 2 YM pts.) Just have to make darn sure you know how to figure accurate targets though or it all goes out the window. Good luck.
ReplyDeleteDitto, trailing stops haven't produced better profits on any of my systems either. Don't worry it happens to the best of us.
ReplyDeleteBut doesn't it always seem to have with profit targets vs stop losses LOL?
The July issue of Active Trader (pg 28) has an article on just your question.Out of all the futures products to trade (ES, EC, S, CL) CL was found to be best traded with trailing stops. From experience you should know this. Breakouts last a good 30-50 cents in Cl and occur daily, while the breakouts in ES are much less frequent and smaller in magnitude.
ReplyDeleteThanks HPT. I don't get that magazine but I'm sure trailing stops could work for some systems. Is there a link for article online? Or do you have a scanned copy? Thx.
ReplyDelete