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Old 07-27-2007, 07:58 PM
Benjimang Benjimang is offline
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Join Date: May 2007
Location: Brisbane, Australia
Posts: 80
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Default G'day mate

G'day dpaterso, nice thoughts goin on here. I also made a killing last night (I'm in Brisbane, so the major sessions are very much at night for me) looking at PSAR only. I actually exited out a little before you did for two good resons:

1. When you have such a sharp spike like most of the pair last night, normal market conditions would see the price double back on itself to align with a 'sustainable' trend. But that wasn't the closer for me.

2. What convinced me was that it was Friday. I certainly wouldn't leave a position like that open over the weekend because the price might reverse quite some way before you even get a chance to do anything about it. When I get tired on a Friday (or on a Friday arvo for all you lucky folks) it's probably best to just close positions and re-evaluate next week. Take your well deserved profits and look to a new chance for profits on Monday.

As an extra note, I think that this system is great at getting us into strong trends moderately early. I think we need to use discretion to get out though. And please don't get upset over what you could have gained after you closed the position. It's better to miss profits than to lose capital.

-Benjimang

Last edited by Benjimang; 07-27-2007 at 09:16 PM.
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