A Patient Play
There are no new trades today. Our two open positions are taking heavy
losses as our countertrend has now run deep. These loses are not
completely unexpected.
4 of our positions are simply on the sidelines waiting for the oppurtunity
to move into the market. I have experimented with a hedging strategy
that I may use in a similar market condition in the future. It's
based off of opening a trade in a countertrend with a tight stoploss
when the trade breaks key support levels on the charts.
In the mean time we continue to watch the charts from the sidelines.
Have a great day,
Jackie
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