Hey Scott, I can see the long entry on OIH around the 11:15 bar, which looked good for a few minutes and then dropped down to 70.71 about 25 minutes later. Would you have been stopped out?
Ya, I took a loser at first then got back in at about the same place. That's why I said "after a little shake out". I could have been more clear on that one.
Hey Scott, Can you expand a little bit about the OIH trade please. Where did you set your initial stop? Where and why did you decide that you were right and you jump back in?
Jesse, I had 3 OIH trades, first the short, then the reversal which got stopped , then the long when the reversal continued. On the first long entry into the reversal I had a .15 stop.Which I took. I got back in because RIG, another oil stock that I traded at the same time did reverse and never came close to getting stopped. If I remember correctly, oils were trading contra the market direction so when the markets reversed so did I.
Hey Scott, I can see the long entry on OIH around the 11:15 bar, which looked good for a few minutes and then dropped down to 70.71 about 25 minutes later. Would you have been stopped out?
ReplyDeleteYa, I took a loser at first then got back in at about the same place. That's why I said "after a little shake out". I could have been more clear on that one.
ReplyDeleteI figured as such. I could see that it might be within your allowable draw down and thought I would ask. Thanks for clarifying that.
ReplyDeleteHey Scott,
ReplyDeleteCan you expand a little bit about the OIH trade please. Where did you set your initial stop? Where and why did you decide that you were right and you jump back in?
Jesse,
ReplyDeleteI had 3 OIH trades, first the short, then the reversal which got stopped , then the long when the reversal continued. On the first long entry into the reversal I had a .15 stop.Which I took. I got back in because RIG, another oil stock that I traded at the same time did reverse and never came close to getting stopped. If I remember correctly, oils were trading contra the market direction so when the markets reversed so did I.