Well……when i said that these trades were not for the faint of heart I didnt expect a 800 pt downswing in the dow after I put on these trades. Perhaps I should of said if you have a bad heart you should not be following these trades:)
In any event if you are still in these trades the exit strategy today is to exit if the rsi(2) closes above 60. Right now the market is looking to gap up on the open.
If you took these trades and exited in panic as the dow was plunging yesterday …my condolences. Its very very difficult to overcome the human instincts of fear and panic. But to be a successful trader and gambler….you have no choice…you either control these instincts or you will not survive.
I never even thought about exiting at any point yesterday. The key is to trade at a level your comfortable with and can afford. If you stick to that you will be way ahead of most.
I am working on the baseball and should post something after the open.