MoneyTec Traders Community Forum - View Single Post - know when to hold them, know when to fold them?

mishak · 27-10-2003, 01:58

Hi Fire580
I agree with everything Eternalfuture has just said.

Besides, there is no reason to plan your profits (and limit them).
It is not you, not your model - it is the market who gives you the opportunity to make profit.

Just this winter, Iraq war and every week-end bad or good news comes out. Based on this just open the right side for a big movement in Euro for 24-36 hours and you are safe. No reason to miss this opportunity.

Every August a lot of dealers go on vacation. You can not expect the same performance of yourself on that month.

Sometimes currency trends, sometimes stay in ranges. You may have better performance in ranged market, so why to miss it ?

Limiting losses is the other bear. Dealers in banks usually have day, week, monthly loss personal limits. If they reach it, they are put on hold till the expiration of the period. It is good for your self estimation

You are no obliged to sit at the market if you do not feel so, did not have a good sleep or whatever. One of strategies is to hunt for big moves on un-expected economic figures. It may happen 0-1-2-3 times per month, but gives a reasonable big movement.

I would not target my performance, unless I am on trading for living or a portfolio manager

. But this is more about money management.

Speaking of setting T/P orders is another topic.

Take care

27-10-2003, 01:58	#3
mishak old hand Join Date: Oct 2003 Posts: 1,066 Downloads: 0 Uploads: 0 Rep Power: 0	Targetting Performance Hi Fire580 I agree with everything Eternalfuture has just said. Besides, there is no reason to plan your profits (and limit them). It is not you, not your model - it is the market who gives you the opportunity to make profit. Just this winter, Iraq war and every week-end bad or good news comes out. Based on this just open the right side for a big movement in Euro for 24-36 hours and you are safe. No reason to miss this opportunity. Every August a lot of dealers go on vacation. You can not expect the same performance of yourself on that month. Sometimes currency trends, sometimes stay in ranges. You may have better performance in ranged market, so why to miss it ? Limiting losses is the other bear. Dealers in banks usually have day, week, monthly loss personal limits. If they reach it, they are put on hold till the expiration of the period. It is good for your self estimation You are no obliged to sit at the market if you do not feel so, did not have a good sleep or whatever. One of strategies is to hunt for big moves on un-expected economic figures. It may happen 0-1-2-3 times per month, but gives a reasonable big movement. I would not target my performance, unless I am on trading for living or a portfolio manager . But this is more about money management. Speaking of setting T/P orders is another topic. Take care Last edited by mishak : 27-10-2003 at 02:05.