Hi Guys,
A situation like the one we find ourselves (HDR & WPL) holders in really does test ones selling stategy.
The amount of fundamental research published by HC's resident oilers is very much appreciated by all.
I really do think though that instead of playing 'what if' you should play this one strictly by the numbers.
The deployment of rolling stops is mandatory in this instance.The practice of dynamic pecentage (ie increasing your % loss from each progressive days opening price) has your positions move more and more into profit as the run continues is advisable.
I point this out to guard against the second biggest mistake made in these types of situations (the 1st is not to employ a stop loss at all), that being when a stop loss is triggered say on a support level recognised too late.
You find yourself then sitting on a support which you have just sold out of.
Human nature suggests it is VERY hard to buy back into a position you have just exited at a slightly higher price.
Dynamic percentage negates this to some extent but be prepared to trade by numbers and leave emotion at the door.
Rob.
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