20200227
Short 1 NQ 8651.0, -2.25
Short 1 NQ 8655.0, -0.25
Short 1 NQ 8668.50, -2.25
Short 1 NQ 8670.0, -2.25
Short 1 NQ 8677.0, -0.25
Short 2 NQ 8690.0, 8690.0, +10.00, -0.25
Short 1 NQ 8693.0, +9.75
Short 1 NQ 8696.25, +26.25
Total NQ +38.5
Tight versus loose stop-loss rational. For years I traded the more volatile NQ as a 2nd or even third choice to most of my positioning. The ER (aka TF, aka now RTY) was my drug of choice... and often the YM was second place winner. But over the last year, with the NQ so dominant as market leader, and the RTY so apparent as laggard or even worse, as apparent hedge vehicle, the NQ was been my main focus. And I suspect for that for many of us who generally feel disdain when trading the clunky ES, this is now the case. But the NQ 'ain't no disco... it ain't no foolin' around... it's full Burnin' Down the House'. Yes, I have to admit, that just increasing my tight 2 point stops to something around -5 would enable me to survive the whippy, resurging nature of atypical market turns. But to what would I have to adjust it to enable surviving recent action? Would 10 points be enough? Would even 50 points enable you to survive and end-of-trend turn? For the truth is, if your method is be SWEPT into the prevailing counter-trend action, a small stop is about the same as a larger one.. Either you in with the out-going tide, or you're still being dash against the rocks like a heap of wet, washday clothes. ..and blood stains don't come out easily... Looking back on today's trades, it might seem like I expended a lot of foolish effort in my attempts at finding the underlying trend. But what is even far worse, is the acknowledgement that this one trend, this last short trade that I bailed on after what I thought was a generous 25 points, enough to secure my modest 1st frame goal of $500+, continued on for a lusty 180 point excursion... leaving for awhile, feeling far worse for having bailed than the losses I took trying to find it in the first place.
Such is the nature of the market .... it gets a good laugh at you most of the time...
