Say NO to small profits, Say NO to big losses.
Today, I will elaborate it a bit further... a supplementary motto:
Be the Hunted
These are on-the-fly rules. I am winging it, until the entire revelation is complete, or until I dump this system (more likely)
In this game we play the hunted. We don't hunt the Price. We stay away from the Price - with a wide Stop Loss. We let the Price hunt our Stops. Price might hit our Stops a few times, but many times it will get exhausted by the effort and slink away. That's when we win.
When we do get hunted, we are not fatally hurt unless we make a big loss. Stick to Motto 1, and you will just have minor wounds.
Today's trades
Gap down, then a bounce (something to do with dead cats). I got my chance to Short there, but Price hunted the Stop Loss down. First Trade, initial Stop Loss hunted. Price had tried to catch my SL a couple of times before it succeeded, and then exhausted by the effort, it fell down.There was another Short trade that I wanted to take, but luckily did not place. That would have been a loss, if I had placed. Lucky me!!
The second trade - another Short - was the day's winner, but not before Price attempted to hunt down the Initial Stop Loss. The exit was a nice Trailing Stop, I guess, except that I gave up a lot points till it hit. Price went zooming up after the Stop Loss. This win keeps my daily winning streak intact - 8th consecutive win today.
It's just irks that I need to give up a lot of points when the Trailing Stop Loss hits, but I can't complain about the results though, yet. I guess I will have to wait for more revelations...
Try keeping SL 5 points away.
ReplyDeleteThanks.... but been there, done that
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