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10-18-2022, 07:33 PM
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#16
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Looking more and more like moving that stop was a bad idea...lol
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10-18-2022, 11:42 PM
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#17
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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would have gotten out at 1773.90 if I didn't move that stop up...which is about 17pts of additional profit left on the table...
It's become my experience that leaving the initial stop in place and finding another way to exit is the best way. Trailing stops are crutches. But old habits die hard.
That's why you test. That's why this thread exists.
For the remainder of this test, the initial stop will remain untouched.
This may seem rash based on one trade...but it's something I've been mulling for a while...my automated system doesn't use a trailing stop...it's also a time-based exit of sorts.
Time based exits allow you to capture way more profit. There is no predetermined exit price...
This kind of makes sense in a way. You're already incorporating plenty of uncertainty in using an initial stop loss. You want to put the additional burden on yourself of being correct about an exit price?
I'm not that good...are you?
Taking away the burden of trying to figure out an exit price and just letting the market roll along (as long as your initial stop loss isn't hit) provides the best way to "let your winners run"
Last edited by PaceAdvantage; 10-19-2022 at 04:12 AM.
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10-19-2022, 08:09 AM
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#18
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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I would just like to point out, in terms of "market timing"....what happened to futures since I posted that I "would have" sold my long at 1773.90 last night.
RTY has dropped over 30 points basically straight down and has blown past yesterday's lows...
Pretty good timing I would say...lol
Last edited by PaceAdvantage; 10-19-2022 at 08:13 AM.
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10-19-2022, 08:24 AM
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#19
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Currently have an order in to short @ 1751.40...will post if it gets filled
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10-19-2022, 08:32 AM
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#20
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Market is so weak apparently, and I woke up too late...the market isn't likely to give me my fill it seems...I will keep waiting...it's too bad I can't easily automate the strategy I am using in this thread
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10-19-2022, 09:35 AM
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#21
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Just got filled...that might be a bad thing...lol
RTY short @ 1751.40
Stop loss = 1764.40
Target = ???
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10-19-2022, 12:27 PM
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#22
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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RTY just taking a huge dump today...down twice as much as other indexes...of course I don't mind...
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10-19-2022, 12:44 PM
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#23
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Registered User
Join Date: Nov 2012
Location: Bakersfield, CA
Posts: 1,790
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The trading day seems to be falling right into your lap on this one. 
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10-19-2022, 05:09 PM
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#24
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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The trade is still open...was looking very nice there for a while, but of course, it's never that easy...
Still sporting a 16pt profit at the moment as the futures markets rest for another 50 minutes before opening up again at 6pm ET.
The way my indicators are looking at the moment, this short looks like it will likely be covered tonight at some point...I will post here when it does.
Stop loss is still at original level and will remain so no matter what.
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10-19-2022, 11:36 PM
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#25
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Just covered my short...getting out while the getting is GOOD
Recap:
Short RTY @ 1751.40
Covered @ 1722.50
P/L +28.90pts
Last edited by PaceAdvantage; 10-19-2022 at 11:37 PM.
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10-20-2022, 12:07 AM
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#26
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Thus far I am 2 for 2 in this thread and +45.60pts, or +$2,280 per contract traded on RTY.
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10-20-2022, 07:24 AM
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#27
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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New Trade
LONG RTY @ 1738.80
stop @ 1728.40
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10-20-2022, 08:58 AM
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#28
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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Liz Truss trying to mess up my trade by resigning... 
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10-20-2022, 09:00 AM
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#29
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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And she just did that...got stopped out
Recap:
Long RTY @ 1738.80
Sold @ 1728.40
P/L -10.40pts
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10-20-2022, 10:06 AM
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#30
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 82,381
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can you believe something as stupid as Liz Truss resigning cost me that trade?
The life of a trader... 
RTY hitting daily highs as I type this...FML lol
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