Let’s Go Long – November 15, 2011

[hgsfan]

I take that DPP means Daily Pivot Point? Thanks in advance

for what it is worth, a chart:


Attachment 11421Attachment 11420Attachment 11420

[Billy]

I take that DPP means Daily Pivot Point? Thanks in advance

Yes, that's correct.
Billy

[nickola.pazderic]

Again, in the for what it is worth department.

[nickola.pazderic]

Resistance at DR2

[Billy]

Attachment 11423

Resistance at DR2

Most important for the trading plan is the easy passing at the first speed bump, weekly pivot (73.28). We now have gained one more support and can relax as long as it holds.
Billy

[nickola.pazderic]

I spent a pretty good sum on TVIX insurance, but it has made the ride more relaxing. Nothing like watching the market move in your favor.

[Rembert]

Hi Nickola,

May I ask why you hedge trades ? I don't see the benifit of hedging for individual traders like us. My understanding of hedging is it's something funds do because they can't get in or out of positions as easy as we do. I find that if a trade is position sized objectivly then the trade is as relaxing as possible without the need for adding complexity by hedging.