Tackle Today: Exit light | Tackle Trading
“Enter night.”
Today is going to be different. I’ll be making money. Why can’t I have a serious winning trade?
“Say your prayers little one”
I’ve been trading the worst strategies. Too conservative. Cushion/safety bull****.
“Don’t forget, my son”
People are always talking about their winning trades. That is aggravating.
“To include everyone”
The naked call. Resistance @ 2.7/2.8, I am trading the 3.0 strike 30 DTE.
“Something’s wrong, shut the light”
That’s $500 on a $900 margin, 55% return. Sell two contracts.
“Heavy thoughts tonight”
Gonna trade the 30 DTE and the 60 days out. That is $1400 on a $1200 margin. Holy crap!, 116% return. Sell two contracts.
“Sleep with one eye open”
Prepare. Click. Done.
“Exit, light”
$3,800 credit.
“Enter night”
OK, now I need some rest. Tomorrow will be great to see those positions profiting. The chart is tilting bearish again.
“Now I lay me down to sleep”
What if it goes wrong? The max loss will blow my account. But that won’t happen, the chart is the chart. It’s been solid since January. Nah!, go to sleep. Bye.
“I pray the Lord my soul to keep”
(Futures chart gaps up)
“If I die before I wake
I pray the Lord my soul to take”
Chart of the Day: Natural Gas Futures
“Natural Gas Futures can’t get past the 9, the 20 and the 200 MAs. Tomorrow I will add to the positions.”
Video of the day: Trading Concept Check: Position sizing to stop loss
Position sizing is an important facet of disciplined trading and when used in conjunction with sound technical stop losses, a trader creates a powerful one-two risk management punch.
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Originally published at https://tackletrading.com on October 15, 2019.
