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Trailing stops
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Support & resistance
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Fibonacci extension
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Swing high & low
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Setup is invalidated
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Previous candle high/low
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Time stop
exits are easy…
it is the entry that is the sixty four million dollar question.
it is easy to close a trade.
closing a trade that is “in profit” is the gotcha.
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The hardest question in trading.
The least considered, least studied, least talked about and usually the most unplanned.
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i had an associate many years ago. he was a hustler’s hustler. he was a salesman that could sell to other salesmen… he could be sitting in a rowboat a hundred miles into the ocean and he could sell water to a fish. i am not kidding.
he told me one day that you dont make your money on something when you sell it, but instead you make your money when you buy it at the right price.
he also told me one time that he could sell any thing at the right price.
he was a lot of fun.
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I’ve sold sand to the Arabs. My wife runs a small trading company based in the UAE. About twenty years ago (before the world put sanctions on Syria) we provide aftermarket parts and first line support to the budding oil and gas industry in that territory.
The oil facilities had water treatment plants including provision of potable water from the brackish subsurface artesian basins. The water treatment stack consists of a number of layers of rock starting with quarry stone, through gravel, grades of sand and finally carbon layer. We originally sold sand from the USA - about 20 tons at a time, but our sales engineers took a business trip to China (on Shell’s advice) and we discovered that the Mongolian desert sand was more effective (and a lot cheaper) than the US sourced sand. So a real story - I sold sand to the Arabs.
Nothing to do with exiting a trade, but it relates to your story that you don’t make your profit when you sell a trade - you make it when you buy it.
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ok, i gotta know… arabs in uae they live in a big sand dune…
give me the condensed version of the answer… why did they buy sand from you?
To filter their water so they could drink it
ok, but why didnt they just use their endless supply of sand that is all over their sand dunes?
i dont get it.
why did they need your sand?
because local desert sand is not the right shape, size or physical characteristics to filter out the nasties that magically turn subterranean brackish water into drinkable (potable) water.
interesting.
that because of the characteristics of their sand… it obserb more water the proceeding for the next… the result affect the quality of the final product. Even they can’t use their own sand of construction work.
so, you are suggesting that they have to import sand to build those beautiful skyscrapers that they have in saudi?
well, let me ask you this… are there any purposes for which this saudi sand is useful?
thank you.
Yes, it stops about a trillion barrels of oil seeping into the atmosphere
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In the future it’s possible - if Finite Concrete lives up to it’s billing.
Desert sand may hold key to the next Gulf economic miracle | Arab News
It’s also a no brainer for solar concentrators - the very high temperature version of solar panels.
Hi everyone!
This thread has been closed for cleanup. To maintain the thread’s integrity, posts that do not pertain to the topic will be deleted. We will reopen the thread once we complete the cleanup process.
Thanks,
Jess
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Good idea @Jess.
I didn’t see anything malicious, I don’t believe that was the intent, but we had gone a mile off-topic without forward progress.
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