Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I wasn't suggesting to use a trailing stop as the profit exit, I was just suggesting instead of closing the position after 15 minutes, would it work to tighten the stop and let it see it can still hit the fixed target within the next 15 minutes. Presumably one or the other should happen by that time. That's all.
If you enter on low volatility, basically you just need to sit and wait until volatility takes off. If it fires in the wrong direction, you are left with a small loss. If you are disciplined, you are safe.
So, if it goes off in the right direction, you need to have the optimum exit strategy, which does not get stopped out too early and ehich does not cut profits short either. Very, very difficult.
I am only exiting the first half of my position for psychological reasons. It makes me feel better, if I take a profit on half of my position, as this profit covers my potential loss on the second half. I am now playing with the money of the house, and the tension goes down. I feel that I have left the danger zone. Being more relaxed, I will then better trade the second half.
Only caveat with this: If you look at the expectancy it may not make sense to take a quick profit on the first half of the position. But I am not a machine.
There is a double inside bar on the S&P Hourly Chart- right now, who's playing that ?
You know what you know but you do not know what you do not know.
You do not see things how they are, you see things how you are.
In life you do what you want but you do not want what you want.