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Si,
> what about if you missed your best trade in 2 years because your kid
> was sick, how would that affect things? etc etc etc)
You left off lunch and going to the bathroom. I was short the emini
yesterday. I trail a stop through the trading day and had moved it to
1146.25 at 10 am. Between 10:15 and 11:00, I went to the bathroom and also
made a cup of tea. I dawdled. When I got back, I found my self stopped out
and the market around 1141. I re-enter trades if my stop point is less than
the opening stop (in this case 1151.75). Problem was that the market had
already run over 5 points. My rule is to re-enter when I get stopped not
after the market has run. So I didn't re-enter and I shut down my screens,
finished my trade diary entries, and called it a day. I had a $125 plus
commission loss but I had traded my plan to the letter and my trade diary
entries suggested it was a good emotional trading day. Well, we all know
where the market closed yesterday. It wouldn't have been the best traded in
2 years but it would have been the best all month.
All the backtesting and all the statistics in the world are irrelevant when
you open a trade. It's a brave new world each time you trade. That's why I
pay attention to consecutive losses in perforance data. That number does
have some link to reality.
Regards,
Mike
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