Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Moved my target lower. RE: If it's a choppy day OR resumes the downtrend then it's a reasonable target. Otherwise I'm scalping and if I'm scalping then I should be taking a lot more entries.
Can you help answer these questions from other members on NexusFi?
Closed the trade. Perhaps I have to learn to hang on longer... especially if going with the trend down but you know how it feels to loose profit... it just happened to me this morning.
Original target was better. Which leason is right, exit before target hit or wait for target? Don't know. I think a little of both. 1. Selection of target is based on what is known at etry time. Maybe moving it based on some evoloving criteria is a good idea and it's just a matter of developing this. Or a better refined first guess and leave it is what's needed. I know this is a weak area for me. Look at all that profit I missed....
Not all of my trading is on SIM. However I usually trade with more size and often on the ES than I am currently. I am short on live accounts since last night. I missed some limit fills but I got something at least...
Nothing on the ES where I usually trade. I'll get back into the swing of it soon.
If I were flat I would enter here. If I were trading 2 lots with one to spare I would add here. ( I will be trading with more lots after I get 1 lot trading down pat ).
So far so good. Now the question is cover or keep the original target? Last trade keeping the original target ( and then some ! ) would have been better. Previous trade this morning it was better to esxit before. Hmm.
Given the discomfort of staying in a losing trade I find myself looking for reasons to exit. That rDiv line between the previous swing down and the current one is a divergence that I belief to hold significance in flagging a bottom. The only problem with it is finding when the current swing down actually ends!
Edit: I'm going to hold. I think we'll hear a flushing sound soon.
