OK communicated with Stewie and I've updated my rules again:
1. no more than 2% risk per trade.
2 if using options must have 300 or more volume.
Suggestion:
1. try to move stop up as soon as break even.
The problem with moving up your stop to break even as soon as possible is that it may cause you to stop out especially if the stop is at an unnatural point. As long as you are comfortable with your per trade risk and your stop is in, you should let the trade work. It is still nice in concept to move your stop to break even, but it may reduce the effectiveness of the trade. Therefore making this a suggestion, not a rule.
2. - is a rule because I am still tired of dealing with market makers that want to screw with you when you try to exit out of an option - lowering their bid when you lower your ask etc - as happened to me yesterday in HOG. In fact after talking to Stewie I am going to use options for now because I am trying to get back to basics here, and there are all these other factors with options: expiration, time premium, delta etc. are a lot to handle in a market that has so much volatility anyway.
Ok doing well, passed Day 4 of not overtrading. This was hard as both NETL and LULU and others such as NFLX ran up and were tempting to chase. Even the SY buyout rumors were hard not to chase. But there will always be opportunities.
