gmg733
788 posts
msg #132012
- Ignore gmg733
modified |
10/19/2016 2:54:34 PM
Next time that happens Kevin slap yourself. :)
There is a point when you'll forget it is money and they are just numbers on a screen. That is scary.
I'll stray from one point you made. Good traders take profits and live to fight another day.
Sold my short call ITM VXX spreads today as we came into the spx trendline. Took 35% out of the trade. Bought some copper at the trend line @ 2.09. Giddy Up!
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johnpaulca
12,036 posts
msg #132013
- Ignore johnpaulca |
10/19/2016 3:04:19 PM
Had the oil inventory numbers went the other way you would be thanking yourself...like holding a company during earnings can go either way.
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Kevin_in_GA
4,599 posts
msg #132016
- Ignore Kevin_in_GA |
10/19/2016 3:37:18 PM
Either way it is a mistake in that I did not follow my validated system. That is my challenge, and it only takes a few instances like this to remind me to stick to the rules.
But it is better to have lost unrealized profit than to have lost real money.
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mahkoh
1,065 posts
msg #132017
- Ignore mahkoh |
10/19/2016 3:37:52 PM
Sold to open FL Nov18 67.5 puts for $2.00 with FL at 68.08
Margin per contract $1486, 12,4 % return on margin if they expire worthless.
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Walid
130 posts
msg #132021
- Ignore Walid
modified |
10/19/2016 8:08:14 PM
I think the point Kevin is trying to make has nothing to do with greed or fear, it is simply that we enter the trade and expose our capital to risk based on – what we consider to be – good technical reasons; so it makes sense not to exist without one or on an impulse. It is not about the extra money we could have made, it is about perfecting our techniques as traders.
I am guilty of the same. I called the most recent down move in EURUSD and USDJPY. I actually held two short positions in both and captured only 25% of the move. I had no reason to exist other than preserving capital (this is a sugar coated, collage talk for fear).
I agree that woulda, coulda, shoulda is extremely unhealthy practice in our field or any filed for that matter but looking back on our trades and studying our mistakes not to pity them or ourselves but rather to learn from these mistakes and try our best not to repeat them is - IMHO - a healthy exercise as long as we keep all negative emotions out of it. Just my $0.02
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johnpaulca
12,036 posts
msg #132028
- Ignore johnpaulca |
10/20/2016 10:11:02 AM
Oil....fake contracts expired useless about $400m went up in smoke...that's gotta hurt. Fake drawdown was actually a 1.7m barrels surplus....
Oil futures down....(I'm long SCO $69.79)
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gmg733
788 posts
msg #132031
- Ignore gmg733 |
10/20/2016 3:15:28 PM
Yeah, I don't have the brass to short crude even though I want too here. I think I can get an easy dollar out of it but /CL is the most manipulated commodity traded.
Would like to see Nat Gas /NG around the 3.08 level. I might buy one mini contract here and another one if it goes a little lower.
Thinking of pull the cord on my SPX trade. Already at 27% percent profit. I like to take 40-50% out of them but if it gives me 25% in two days it is a gift.
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johnpaulca
12,036 posts
msg #132032
- Ignore johnpaulca |
10/20/2016 4:32:40 PM
SPY....N7 setup with indecision bar, almost out of room between BB's on daily, can go either way. Trend still intact, volume ridiculously low, buy signal triggered yesterday(Wednesday) so today(Thursday) is a buy day....glty
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johnpaulca
12,036 posts
msg #132033
- Ignore johnpaulca |
10/20/2016 4:41:50 PM
Natural gas (UNG)....should finish the year higher. I got a buy signal back in June at $7.27 will keep this until Dec.
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johnpaulca
12,036 posts
msg #132037
- Ignore johnpaulca |
10/20/2016 11:50:44 PM
Gold futures ...daily trend down, this last bounce we had a few days ago will be met with profit taking. I will be shorting. DUST long (37.50) would be my best bet.
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