Sky Diving Elvis’
Sky Diving Elvis’
I’m going to dip my toe into a few symbols today again – however let’s re-emphasize again that small position sizing clearly should be our modus operandi for the foreseeable future. It is important that you understand that a practice of small position sizing (e.g. < 0.5% per campaign) and wider stops does not hamper our ability to profit but instead leverages this high volatility market phase in our favor. To place large bets during this period is tantamount to gambling, and if that’s what you’re after then I suggest you head for Vegas or Reno.
At least there you get to enjoy low priced hotel rooms, pool side entertainment, a sky diving Elvis, and girls in skimpy outfits serving you free drinks while they suck money out of your wallets*. You have been warned.
UPDATE: I had posted a ZB and ZN long trade but they hit the stop a few minutes after. I don’t see much edge in a short position here so I’m waiting for instructions. Meanwhile this is what’s left on the menu this morning:
GBP/CHF has been dancing on the 100-day SMA and I’m long here. However if stopped out near 1.46 I plan on reversing to short position. Again, SMALL position sizing – I’m taking 0.33% R position sizes today.
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A little bit of event risk today an hour before the open. You have been briefed – now have fun but keep it frosty.
Cheers,
* Why am I not in Vegas right now again?