SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: peter n matzke who wrote (17932)3/8/1999 1:57:00 PM
From: Patrick Slevin   of 44573
 
Words of wisdom, eh?

Probably not I am afraid.

I used to rationalize that I would cover half at such and such or if this or that happened and put a breakeven on the other half.

Now I usually just cover on spikes, I would rather have a profitable trade in 10 minutes than a better trade in 2 hours. Besides, a spike USUALLY will come back and give you a second chance if you want it. But my nerves aren't what they used to be, so I just normally take the money and run. One, two trades a day....maybe three.

I do find that whenever my times are hitting well I tend to tough it out for the time and re-evaluate at that point.

I general though, I cannot give advice about how long to stay in a trade. Camp once told me that ... if I am sure about the trade ... back off 4 5 minute bars on the chart and put your sop at the furthest point away. There are times I nailed double digits doing that. The way the swings are these days it certainly viable....if you have the correct direction read.

There are also times you can get busted up badly doing that, if the market spikes back on you and your stop is overrun.

So for day trading I would not be able to suggest how to maximize gains. It's a purely subjective issue that you have to decide on before you take the trade. I read one fellow who decides that he will trail a 2, 4 or 10 point stop before he enters. Depends on his degree of confidence in the trade. Something like that may work for you.

Me, I'm just risk adverse. I would have to say that I am more concerned with not losing than I am with how much I'm winning.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News