Recent content by EighthWonder

One truth of trading: Lonely : if you are not rich, always lose money and still struggling with real life. Not Lonely : if you are richer than other ordinary traders, like money comes to your pocket automatically. No BS. Its true.

Long MJNK(Mini Nikkei 225@Osaka Securities Exchange (OSE)) H8 one lot at 23235. (09:50 JST) STP: 23180 -> 23195 -> 23240(Now)

Today day-traded one lot of QM. Just liquidated this position. Entry: 60.525 (05:17 EST) Exit: 60.8 (07:46 EST) P/L: $137.5 - $5.5*2 = $126.5 I dont want to hold this QM too long since I am expecting the CL retracement on daily chart. When this happens I will try to buy again at that time.

QM was closed at 60.500. Profit (60.500-59.725)/0.025*12.5 - 5.5*2 = $376.5

I never heard about this rumor. Even its true, I think we still cant invest them directly. China goverment limits only their nationals be able to trade their own domestic futures contracts.

I decide a trade only using price chart. Of course I have examined the similar cases in price history by my EYES. Its not accurate like you can do it by TradeStation/MultiChart, but still can give me a feeling of if this chance is worth a try.

I just buy 1 lot of CN (FTSE China A50 Index@Singapore Exchange) at 13297.5. The STP now is placed at 13305 that can cover my commission. I think US traders might not be familiar with this index commodity. I live in Asia so this contract is good for me because I can trade it in morning.

Raise my STP from 59.825 to 60.175. I might close this position today cuz I decided to use tighter stop tracing from now on.

My trading philosophy is that you cant measure a precise winning/losing probability/edge beforehand. The only thing you can do is TRY. So how do I decide the direction to place my bet? Very simple, I only look at the currect trend of price movement. CL is now going UP on daily/hours basis...

You are right. Any major commodity contract is much better than its minor/micro siblings. However if I bought one lot CL instead, that meant I all-in my asset into an uncertain risky situation. According my current bankroll I cant afford any the probability of bankrupcy. Thats why I decide QM.

Your guess is right. English is not my native language. I typed too fast so even didnt know 'a lot' would made you confused. I am glad that you guys finally understood me...:) My tiny account starts with about $1350. Its a long long way toward my final goal...I will keep on recording my trades...

Bob, 1. No expected target. I will adjust my exit point by following the trend of CL. 2. Now the stop is placed on @59.825. A liitle bit higher than breakeven and can cover the commisions. 3. I start with a very tiny account and 2 lots QM contracts is my buying power limit. Same as Question 1, I...

Hi everyone, This's my first post in Elite Trader. :thumbsup::thumbsup: I want to leave my trading records here. I believe in myself will achieve my goal of being a rich trader with a colorful life. First step, I bought a lot of QM (smaller CL contract) at 59.725 yesterday. Now I am watching...