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August 16th, 2007 by eyal | Filed under Day Trading. |
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I’m done relatively early today. It was a wild ride, you can see some of my thoughts during the session here, here and here. Don’t worry, I’m not planning on using this ‘here’ thing too often. Anyways, with the roller coaster volatility and massive swings around none of the positions actually worked all the way and all of today’s profit came from partials which means I left in excess of 6R’s on the table as I don’t tightly trail my trades, usually that would be detrimental. At the end PCU, CFC and RIO’s partials added up to +4.1R.
nice results. I looked at one of your ‘here’ messages and I totally agree that missing out on a trade you’ve been watching really hurts. Happened to me today with RS. Actually had a Stop-limit order on the screen but I wasn’t 100% convinced and I didn’t hit the transmit button (just stupid, it’s helped me before but I have to stop doing that). Of course, price dropped below my limit price and when I hit transmit it had fallen too far down at that point. Just bugs the crap out of me.
Thanks man. I know what you mean, I seldom use stop-limit for this exact reason. The frustration and mental damage is far more serious than the slippage. Particularly on liquid stocks.