About this blog:

CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026






Sunday, April 13, 2014

Whipsaws & Short Term Trading

The whole point of this blog is to reduce the amount of time I spend analyzing the markets and increase the size of my gains by staying with the trend as long as possible. 

Having said that, the blog, meaning the blog owner, me, got long on February 6th at 1776. I then flipped to short on March 13th at 1846 booking 70 points of profit. 

From the swing to short at 1846 I lost 28.15 points because I adjusted my stop-loss from 1903 to 1874, something I shouldn't have done. I rarely adjust my stop-loss and take profit from my initial trade, and this is why. I should've left the stop at 1903 and ADDED to the position at 1873 instead of having to create a brand new short position.

I did maintain my bearish stance while everyone else was getting all bullish once again. I re-shorted on March 31st at 1873 and currently have half of that position left after booking 1/2 profit at 1834 on April 10th.

First trade: 70 points
Second Trade: -28.15 points
Third Trade: Booked 1/2 profit for 40 points, so I'll adjust that gain to 20 pts. since it was only 1/2 position.

Total: 61.85 pts. so far with 1/2 position still short.

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