| RESULTS FOR DAY | |
|---|---|
| CL Contracts: | 21 |
| Net $P/L: | 1077 |
| Wins: | 5 |
| Losses: | 2 |
| Win%: | 71 |
| Avg$Win: | 311 |
| Avg$Loss: | -238 |
1 hour ago
Tuesday, December 13, 2011
Tues. 12/13
9:55am CST - Days like today make you question whether taking little nibbles of profits is the best approach. Some gurus tout holding for big gains. But I know from years of backtesting that most of the time, hitting singles is the way to go. Sure my first trade today which I got out at BE could have easily made $6000+ with a risk of only $500 but that is the beauty of hindsight. What caused the $1.50+ up move in crude in less than a minute is beyond me and can’t be predicted. Anyways, enough coin for today for me.
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It was the rumor(ha ha I love that word) that another drone was shot down. Of course it was false. But more importantly, this was an outlier move, statistically either you can trade the range or you can trade the extensions like this.
ReplyDeleteTo do both requires either 2 strategies or always have a runner on. No one should EXPECT to catch one two different types of trades with an approach mated to a different kind of action.
But, you knew that :)
So, its pointless to talk about it. The "what if I caught it?" approach has been damaging to me personally as it often distracted me into thinking I wasn't doing enough.
Drone eh? I need one of those to trade for me. :)
ReplyDeleteYeah agreed, the "woulda, coulda, shoulda" analysis is rarely helpful but it is very human.
If I tell you to "hold for the big runs" instead of hitting singles will you pay $3,000 for my "Be a Trade Wizard" course instead of just $1,000?? Why not? ... you'll make oodles more money! (certain restrictions apply..boiler plate/boiler plate)
ReplyDeleteYM - where's your free trial?! I'll sign up for that.
ReplyDelete