F**k me, someones a negative Sally and needs to go home and think about their mindset.
Yes mate it popped 10k profit a few minutes ago!! gone back under now but I'm sure it's only temporary
its a realistic mindset to take profits
Yeah I guess tomorrow will be interesting.
There have been some price n time signals in related instruments to the downside last few days which I can't ignore. So i'll be playing short overall, probably nas, but with hedge longs in Dow, S+P, if required.
I disagree. Your mindset would have made you maybe £500 and no doubt you would have been over the moon with that, I've just let a winner run and rinsed it for 10k
Lee has been telling me since the beginning that everything is my decision and to stick to my plan, he hasn't swayed me in any way and that's been absolutely brilliant.
Careful brewski, I'm actually starting to think itspossible is marketpshyc, they both kinda appear around the same time.
If this is a legit trade then bloody good for you mate, a good mate of mine held a position for over 8 months (cable) had to sit with it underwater for all that time & had a margin call to boot.......all in he sunk about £200k to eventually make just £30'ish K !!!
£10k for this trade is an amazing result !
(just need your full account details.......you know, for proof )
So in short what you are saying is, or more to the point, what I hear is:
Your friend refused to cut his losses, held a losing trade underwater for over 8 months and risked a minimum of £200,000 to make £30k. RR is way out and should never be in minus figures.
This is the opposite to what Brewski has done and the results are clear.
This is ultimately what separates the winners from the losers.
(no disrespect to your friend)
Lee
Obviously brewski knows what he is doing and I know full well that I would never have got this far along the road even if i’d had the courage to have entered where he did in the first place.
Nonetheless I’m a bit nonplussed at this point. At 23518 it must be around target. If the exit is going to be to target then it must be near enough not to risk a reaction to the stop for the sake of the last few points. Bringing the stop up tight is almost bound to have it hit so everything to me points to closing. But then i’m a wimp
C_V is right the 10k was just pub banter, I have of course sent my friend a screenshot of the 10k profit and boasted about it as expected.
I don't have a specific target but I have a rough area/time that I'm looking for which hopefully includes still being in it for the santa rally but the most likely outcome is that my trailing stop takes me out. Obviously this means that I will never get out at the top and will likely give a few thousand back as the more profit I have the wider I tend to have the stop. I am looking at it now and I'd like to keep the stop at 23200 (roughly 23250-23255 cash), meaning I could give back 4k profit. The reality is, if you keep the percentages the same and say if this was a £1 a point trade most people would have no problem having £400 locked in and leaving the rest to run.
Daily chart with entries and stop shown plus screenshot of the trade, I haven't converted it from futures to cash because I think it's better to see exactly what I'm trading rather than converting it to different figures all the time.
Hiya brewski,. . . So the only consideration as we go forward, is where to place the trail stop! . . .
Hiya brewski,
Note the part of c_v's post I've quoted - especially the emphasis. I trust you realise that this is no longer just your trade - it's our trade too! Kudos to you for doing what you've done and getting as far as you have.
Tim.
Yeah,,, sorry bout thatWouldn't be where I am without you guys
Yeah,,, sorry bout that