Curse those swings!

I've been busy lately so not much posting. Trading is poking along, summer doldrums as there is very little volume which ends up equating to very little to really sink our teeth into for day trading.

Sitting on these swing trades, which are really just failed day trades, is very annoying and very expensive. I do not plan on continuing to hold those types of trades going forward. I haven't done it yet but I am going to rework my spreadsheets to estimate the difference in profits between holding these trades through or exiting by the end of the morning session.

The trouble right now is that I have sunk too much cash into these trades and I am down a ton, should they all not work out now I will be wittled down to a very small trading capital. In that case I will need to really reconsider my trading in future.

Perhaps not closing out the entire trade but closing half of it might be the best method as that allows some of the possibility of a profit in the gaps or runs that do occur while lessening the overall exposure. The issue that I do have is that too often we are recommended to buy more at a better price, this just serves to increase the overall exposure in a trade that is already headed in the wrong direction. I may consider that if I do close the whole position I have the option of buying back in at the next low suggested price which puts me in a better position to profit at that point compared to the rest of the room.

I'll see where the week ends.

Jeff.