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john trading system

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schizo
Frequent Contributor
john i know from your comments that you trade a system, do you have a rule for a day like this? eg. if you stuck in a trade and cant get out
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5 REPLIES 5
john_1
Super Contributor
Dude there is no such thing as stuck in a trade if your stop has been violated take the loss and live to fight another day...the first rule of trading is to make sure you last that means take small losses only.. I am sorry if this is hard to hear but at least you will still have money tomorrow.
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Brazen
Super Contributor
Ya, but john, a gap up of over 1000 points against you. That's not a small loss. And no stop in the world was gonna help you this morning.
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schizo
Frequent Contributor
what i meant was that with the jse down you wouldnt be able to get out of a trade, what do you do in these extreme situations
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john_1
Super Contributor
Dude I am sorry I did not understand the question...Yes, I trade all overnight positions through IGMarkets using there limited risk account, so I was short over the week-end with a guarenteed stop at 23410 so when the market gapped I was taken out at that level ( leaving me in profit despite the gap)....it cost 6 points over and above the normal trading spread of 30 points and it is worth every cent...were else do you get complete 'Black Swan cover" for just R60 rand.
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BRE
Regular Contributor
But that's the same as the evening or a weekend when the JSE is closed. You're not stuck because it's closed. No-one else can move the stock prices while it's closed.
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