tag:blogger.com,1999:blog-6579146808262144709.post1054590068403754124..comments2023-09-09T08:10:21.317-04:00Comments on Grove Trades: End of a long week - more experimentationGrove Underhttp://www.blogger.com/profile/11996363914551744557noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6579146808262144709.post-62853313440623899572011-11-22T11:44:54.263-05:002011-11-22T11:44:54.263-05:00Hi Tom,
Usually, when I start off when a few losse...Hi Tom,<br />Usually, when I start off when a few losses, things do get a little ugly more often than not with revenge trading.<br /><br />In this case, I ended up getting in a trade that looked like it might run, and then letting it go. <br /><br />Looking back, this was my way of "revenge" trading -- to go for a big win to offset the losses, and I was lucky. I'll have to continue to try and figure out what the right balance should be with regards to letting a trade run with 1 contract.<br /><br />Experimentation continues, although I'm winding down for the holiday week. Thanks for the comment, and good luck!Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-32383918930494739812011-11-22T11:44:51.292-05:002011-11-22T11:44:51.292-05:00Hi Tom,
Usually, when I start off when a few losse...Hi Tom,<br />Usually, when I start off when a few losses, things do get a little ugly more often than not with revenge trading.<br /><br />In this case, I ended up getting in a trade that looked like it might run, and then letting it go. <br /><br />Looking back, this was my way of "revenge" trading -- to go for a big win to offset the losses, and I was lucky. I'll have to continue to try and figure out what the right balance should be with regards to letting a trade run with 1 contract.<br /><br />Experimentation continues, although I'm winding down for the holiday week. Thanks for the comment, and good luck!Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-44066062232574675382011-11-22T07:49:00.989-05:002011-11-22T07:49:00.989-05:00Hey Grove
I have to say thats petty good results...Hey Grove<br /><br /> I have to say thats petty good results with just one contract. It also sounds like you held to your stop losses AND maximized some of your potiential profits. I see you had a scratch trade and maybe a couple small winners but did you feel the "need" to revenge trade? I didnt see you mention that once. <br /> As mentioned once you are able to add size you can work the trade in your favor. I am going to work on that also, thanks<br /><br />TomTomross58noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-85216856892497359552011-11-19T13:26:46.317-05:002011-11-19T13:26:46.317-05:00Hi Jeff,
That's a great point, something I tot...Hi Jeff,<br />That's a great point, something I totally overlooked while writing this last night (I was probably too tired!). <br /><br />One of the my goals is to be able to get up to 4 contracts, so that I can scale out in a reasonable manner, and have that ability to let one run for those big wins every once in a while. <br /><br />Thanks for the feedback and reminder, much appreciated!Grove Underhttps://www.blogger.com/profile/11996363914551744557noreply@blogger.comtag:blogger.com,1999:blog-6579146808262144709.post-24908717475507569232011-11-19T10:15:34.711-05:002011-11-19T10:15:34.711-05:00I wouldn't consider this an either/or decision...I wouldn't consider this an either/or decision, but only a current state predicated on the fact that you are working with one contract. <br /><br />Once you have multiple contracts, you can scale partial at your first target to improve your average entry price, then let the remainder run. Optimizing the exits for those remainders will fatten your profit tail. <br /><br />Good work on being patient.Jeff Carrollhttps://www.blogger.com/profile/06306052265035847583noreply@blogger.com