100% with you on risk vs reward =)
entered 1.43 two days ago, my stops will remain at 1.26, to me, to me the % profit/loss on the stock is import but even more important is how much i'm willing to risk on my account, i don't risk more then 2% of my account on any 1 trade, been in the game for too long... so now the million $ is, how many shares did i buy and at what prices? Can i afford to move all my positions to a 1.26 stop loss? =))))))
oh.. sell target as in short term PT wise if this rallies? short term target is 1.89 so one can look at it like a 11% risk for a 32% gain, million $ is... will i sell at that figure or will i continue to hold this swing? what are the %chances of LYC falling below "mother" support and kissing 1.26 over LYC moving to 1.89? what the risks involved? dw, i always consider risk before profits =) money management is king.
who knows, if LYC tanks, i'll race you to see who shorts lyc first =) lol!
strange how the stock market works as you age, 10+ years ago it was all about profits and potential % and about being right every time... now its all about money management.
even if you're right 8/10 times.. with poor money management skills.. it could be all over.
good to see this is being discussed, i can't remember reading anything about money management in the past =) im keen to learn what other money mangement/accumulation techniques are being used out there (PM please! hehehe), maybe i try it out on a demo.
in terms of trading, gosh... trade through this annoying sideways market... and when the bull/bear comes.. it'd be a walk in the park, looking forward to it =)
people are talking about another downward trend before a bull, who knows, unless the all ords/ 200 tanks below support, or breaks and holds resistance, we don;t know whats going on, in terms of cycles... if property is meant to move up................ what does it say about the stockmarket =)))
actually wouldn't mind if the market tanks, i'd actually prefer it =) hehehe
one thing i dont do is... if the trend is on the up and up... and its breaking new highs,, with considerable amount of volume to back it.... is short it.
I can't see myself shorting LYC until it falls below 1.26,,, it will also need to test it with good volume before it qualifies... short at new resistance and not at the break of support is how i do it.
everyone has their own set of rules, and that's what makes trading so interesting =)
so.. for the sake of LYC's mother trend, umm.. yes.. go up please... =) you've given me 1.52+ now i need you to hooooolllllddddd =) it would be sad if LYC didnt hold, but not the end of the world =)
Goodluck to everyone! =) man.... flying to Melbourne tonight for a weeks long bucks! lol any tips on the races anyone? i know @#$ all about horses. =)
all in for "so you think" ?