Futures Trades

Friday, May 12, 2006

 

Holding short

Chart from earlier.
Is there method to the madness? .....of holding short in the face of the 5 minute and 120 minute support? Well dudes, that's what green hope is all about.

You've seen me hold swing trades recently for the YM stubbornly and patiently, watching profit be eaten away by choppy price action. Yes, for a swing trader (which is what I prefer doing these days) those are and will always be frustrating times. They will happen. If I remain focused on the mission I'll be OK. What is the mission? To catch the trend moves. And to do so in a manner that limits risk. Stops to even ASAP does that. Tag outs are frustrating, but a truly great trend trade will see immediate profit that DOESN'T get tagged out. And patient holding through support or resistance areas for shorts and longs is a requirement of the trend trade. You HAVE to do it. So am I a pig or a clever trader? When I eat Chinese food I might accurately be described as piggish, but I'd like to think that every now and then I can do some clever trading. I guess the final judge is a green bottom line.

Make 'em pretty folks.
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