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[RT] Re: [e-mini_traders_anon] Re: Taking Profit Questions



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Taking profit is a matter of money mgt, discipline,  overcoming greed,
and   following your written plan,
lets take tomorrow for example,
today I shorted 4  big contracts at 1207
and bought at close 4 dec  1210  calls
if we close  -10 tomorrow, will close only 1 short, and sell at loss my calls
if we continue lower, will move stop loss at 7 points  above lowest low,
when we are down -15
will close 2 more  shorts
the rest will most likely get stopped out,
if
I am wrong and mkt goes up,
when it closes +10 will close all shorts, and sell at profit 1  call
when +15 will sell 2 more calls
and +20 sell rest of calls
you must face reality
trading is a business, you must plan all your moves ahead of the  order placing
and
it better be  covering all bases, what if up what if down
if you don't do it, you are fooling no one but yourself
and DO not blame anyone for failing, it is YOU who is responsible for ALL  of the outcome(good or bad)
best regards
Ben
----- Original Message -----
From: Joe Duffy
Sent: Tuesday, November 01, 2005 11:00 PM
Subject: Re: [e-mini_traders_anon] Re: Taking Profit Questions

Sounds like a good "theory".  
----- Original Message -----
From: Judy
Sent: Tuesday, November 01, 2005 3:32 PM
Subject: Re: [e-mini_traders_anon] Re: Taking Profit Questions

when the time frames are not in sync usually don't hold
when they are usually do
----- Original Message -----
From: Turveyd
Sent: Tuesday, November 01, 2005 3:06 PM
Subject: Re: [e-mini_traders_anon] Re: Taking Profit Questions

taking profits, and when is my current issue,  my entrys are good finally and along comes Problem no.2,  I either hold on to long and give up some nice profits and get stopped at no loss,  or I take a few pips then it shoots up and I waste a good run.
 
 
Experience and patience is the only way to do it,   impossible to predict the future unfortunately.
 
( I'm trying to hold on longer,  and it keeps biting me )
 
 
 
 
----- Original Message -----
From: Joe Duffy
Sent: Tuesday, November 01, 2005 7:19 PM
Subject: Re: [e-mini_traders_anon] Re: Taking Profit Questions

Absolutely it is.... but this goes against everything you've ever heard about profits run etc.... like markets trend all the time or something.
----- Original Message -----
From: Jerry
Sent: Tuesday, November 01, 2005 12:29 PM
Subject: Re: [e-mini_traders_anon] Re: Taking Profit Questions

And I should have added that it must be suffecient to
cause a negative expectation. It is possible to have
larger losses and much less of them and still have a
positive expectation.  

--- Jerry <drwar2000@xxxxxxxxx> wrote:

> You will if your profits are less than your losses.
>
> --- e_mini_daytrader <e_mini_daytrader@xxxxxxxxx>
> wrote:
>
> > You wont go broke taking profits.
> >
> >
> >
> >
> > --- In e-mini_traders_anon@xxxxxxxxxxxxxxx,
> "janice
> > wright"
> > <wright.janice@xxxx> wrote:
> > >
> > > spoo
> > >
> > > I have been trying to accomplish reversal for
> > years--I learned a
> > long time ago --if I want out I usually want
> in--but
> > it is so hard to
> > do and change right at that moment.  Do you have
> any
> > brain teasers
> > that help you get there--when I am a bull I am a
> > bull for 90 min or 4
> > hours--when I am a bear I am the same.
> > >
> > > tkx
> > >   ----- Original Message -----
> > >   From: spooboy54
> > >   To: e-mini_traders_anon@xxxxxxxxxxxxxxx
> > >   Sent: Tuesday, October 25, 2005 4:51 PM
> > >   Subject: [e-mini_traders_anon] Re: Taking
> Profit
> > Questions
> > >
> > >
> > >   Brooks
> > >
> > >   I like your question, but I don't have a ready
> > answer.
> > >   But I can say this -- I'm on it !!  Just
> today,
> > I had
> > >   an 8.00-pt S&P gain that evaporated to a mere
> > 0.50.  There have
> > >   been at least two recent Thursdays that come
> to
> > mind, in addition,
> > >   where 10- to 15-point gains evaporated in the
> > final 1/2 hour
> > >   (those were pretty unusual moves, though).
> > >
> > >   I'm with you regarding "let your profits run",
> > and I just
> > >   don't buy into fixed targets. I must hasten to
> > say, however,
> > >   that as a day trader, my average trade time is
> 4
> > hours.. ergo,
> > >   I'm not a scalper. For a scalper who's in and
> > out in 5 minutes,
> > >   fixed targets may in fact be entirely
> > reasonable.
> > >
> > >   Anyway, I'm initiating a study of MFE (max
> > favorable excursion)
> > >   versus SGB's (that's my invention.. subsequent
> > give-backs).
> > >   My recollection is that I studied this about 8
> > years ago and
> > >   found that (at least for my type of trading)
> > there was NO
> > >   optimal ratio (ie, 40% SGB, 50%, 60%, etc),
> but
> > it's time
> > >   to try it again.  I'll keep you posted.
> > >
> > >   Another thing that may muddy the water.. my
> > system is a
> > >   reversal system .. once I get an opening
> signal,
> > my next
> > >   signal will be to reverse.  In other words, my
> > exit signal
> > >   is the same as an entry signal for the next
> > trade.  I've
> > >   had the philosophy that separate exit and
> entry
> > signals
> > >   don't make sense... it shouldn't just be an
> exit
> > signal
> > >   unless it's good enough to also be an entry
> > signal. Thus,
> > >   my results may/may not be applicable to yours.
> > >
> > >   As a reversal trader, I definitely face the
> > potential
> > >   whip-saw scenario that you alluded to.  And
> dare
> > I say
> > >   it.. maybe I'll actually consider going flat
> > between
> > >   trades (I've got a friend who is rolling in
> the
> > aisle
> > >   laughing right now because of that one).
> > >
> > >   How do you propose to answer your own
> question?
> > >   What kind of studies might you perform?
> > >
> > >   Spoo
> > >
> > >
> > >   --- In e-mini_traders_anon@xxxxxxxxxxxxxxx,
> > "Brooks Rimes"
> > >   <brooks@xxxx> wrote:
> > >   >
> > >   > I've come to the conclusion that some type
> of
> > trailing stop is
> > >   needed in
> > >   > order to capture larger profits (when they
> are
> > available).  I
> > think
> > >   any type
> > >   > of fixed profit is really scalping in one
> form
> > or another and,
> > if
> > >   used as
> > >   > the only profit taking method, goes against
> > "cut your losses
> > short
> > >   and let
> > >   > your profits run".  For those that figured
> > this out long ago,
> > maybe
> > >   you can
> > >   > help with some answers from your experience
> > ...
> > >   >
> > >   > Is it best to combine fixed profits and
> > trailing profit?  Or,
> > some
> > >   other
> > >   > method?
> > >   >
> > >   > What works best in scaling out profits?  2
> > steps, 3 steps?  If
> > >   steps, should
> > >   > it be 50/50 or 67/33 or ?
> > >   >
> > >   > What is the best type of trailing stop?
> > >   > - an N period ATR +/- the H,L,C
> > >   > - an N period SMA of the L or H
> > >   > - 1 or 2 ticks above/below the N period
> > highest high or lowest
> > low
> > >   > or something else?
> > >   >
> > >   > Is it a good rule to always take some
> profits
> > on a long,
> > favorable
> > >   bar?
> > >   >
> > >   > To avoid being shaken out by a small move
> > against you, is a
> > wide
> > >   stop the
> > >   > best defense?
> > >   >
> > >   > If shaken out of a trade, only to watch it
> > resume, what should
> > be
> > >   considered
> > >   > in deciding to re-enter?
> > >   >
> > >   > Thanks,
> > >   >
> > >   > Brooks
> > >   >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> > >
> >
>
--------------------------------------------------------------------
> > ----------
> > >   YAHOO! GROUPS LINKS
>
=== message truncated ===



           
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