Excellent post, Chip, and a good lesson in long term trading.....
>>From what I've learned..., long-term bullish position traders will place orders all the way down in a falling market with tight stops..., as dictated by their systems signals and schooled intuition. So they lose 2 points here and there on the way down..., no big deal. To the average trader it looks like "bad positioning" and "stupid trading," and "ridiculous bravado"....., but in fact they know exactly what they're doing.<<
This is exactly what is done... I know da cheif uses two point stops, he ain't crazy...<g>
>>Furthermore..., GZ also did the same type of positioning on the way down and it's clearly presented on this thread. I believe he's still holding at a price very close to da_cheif's.<<
Correct... I'm holding two SP's, one from 954 and one from 944, I had an order to buy an additional one at 934 but the market never got there... these two were picked up on Friday, September 21st and were posted in real time on this thread... my plan has not changed, I intend to hold them until December expiration..... cash SP's have incredible support at 950 and I "knew" it at the time... it appears the cash market also has support at 1050..... so far, so good.....<g> the best time to buy is when you're scared, if you're not scared, don't buy..... I consider my two positions rather light, therefore I'm not playing the short side as da cheif is with a heavier position to protect.....
Message 16393453
Message 16394354
GZ |
