Hi Bbgold,
>> How did you do today? It certainly was a volatile day and
it looks as though your Calls closed fairly close to where you
bought them. I was wondering what happened to you and the QQQ
board. Bernard and I have still been working on the MKTSS board.
Are you open to discussion as to what you look at for Long or
Short signals? When you open a trade do you set any type of stop
loss limit on the trade? I wish you much success with the board
<<
Thanks for stopping by and I appreciate your good wishes!
As you observed, my calls closed at almost breakeven on a very
volatile day. But since this particular trade of mine is based
on a Signal that once given, holds steady, relatively speaking,
for an extended length of time (longer than a couple of weeks
in most instances), I am not as concerned as I was with my
previous System which changed direction half a dozen times
a day!
Speaking of the QQQ Board, my timing of starting that thread
could not have been worse; and on top of that the pressure of
trading a few times a day was just too much. By the end of the
trading day, I would get totally exhausted. My hats off to those
who day trade, 'cause I certainly could not hack it. Even though
that System of mine held a lot of promise, and with a little
more tweaking could have, I believe, worked quite well. But the
daily grind was what made me pull the plug on it.
Thus this new System which is most worry free for me. As you
may have noticed, right after I got my new "Buy" signal, the
Markets took an almost 200 point bath. But I was not a least bit
worried with my "Buy" decision and since I have a lot of time
on my Options, I am quite content with my trade and am fairly
confident that this trade will make me money!<gulp>
I work with a slew of indicators like Weekly RSI, MACD,
Stochastics, Bollinger Bands etc., and my System is based
upon an amalgamation of those indicators. And no I don't set
any stop loss limit on any trade based on my System's Signal.
A case in point is my most recent Buy. Had I set a stop loss
limit, chances are that I would have been taken out of the
trade for a loss. But since I did not have a stop loss limit
set, my "Buy" is now breakeven. And of course since I have
almost a year of time on my Call options, I can weather the
occasional gail force wind buffeting my trade.<gulp again>
Thanks again for stopping by...
Regards,
contax
