- Absolutely certain my Risk On trades would still be intact now if I had not violated my "Small Positions" rule. Costly piece of indiscretion.
- USDX : Could this be forming a triangle? If so, then current price action = consolidation before trend continuation ie down still. Awaiting downside break of possible triangle to get back in, short.
- US10YY : Down move in yields incomplete.
- S&P500 : Does not look good.
- Gold : I like it.
4 comments:
just curious, how do you usually set your stops? do you use volatility stops, just support/resistance stops, or maybe parabolic stops?
When I am trading according to my rules, my trading size is small enough to afford me the leeway to wait until the overall chart outlook has changed from my original thesis before I get out.
However, in this instance, I had on much bigger size than prudent and thus I had to stop myself out even though for me the big picture on USD is still the same as when I entered my trades.
so if i understand correctly, typically you don't put on stops, and wait for prices to move in your direction, and will only get out when the chart deviates from your original thesis. And you also will usually have a hedge on (with most trades) against your core as a form of risk management? or you only put hedges on when you want to keep in a trend that is about to deviate in the short term?
Correct on the 1st part. I trade without stop losses.
And I put on hedges for risk management. But only when the hedge chart supports a trade in its own right.
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