Cobra's Market View Private Messaging System shows:
The system had its very first failure since the Oct 3rd: DGP stopped out with $994.50 losses today.
The TMF daily low is above the entry price and according to the new rule that I shouldn’t half out but simply set the breakeven stop loss. However for the follow 2 reasons, I decided to half out. Let’s see if I made a right decision or not. Usually system is right though.
- It’s a black bar on TLT indicating a possible pullback tomorrow. The breakeven stop loss is too close so a little pullback tomorrow would stop out the TMF position.
- TMF position is a little too large because it was entered before my new rule of using 10 shares as the mini position unit, so the full loss would be: ( 67.89 – 54.22 ) * 100 = 1367 which is not too large, therefore it’s not a bad idea to half out as early as possible.