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Thanks for the compliment! Im not sure I understand your question :confused: but I decide how many contracts to trade based on the situation. If I think it has big potential I will trade quite a few contracts. Sometimes I will only trade just 1 contract. When im trading the pound intra day...

Thanks a lot! I wish you luck in 08!

Exciting day today in the pound! Started the day like always at 3am and we were trading a little lower. 3:30 hit and we had UK PMI construction numbers which turned out to be better than what was estimated. I went long at the 4:15 15 min bar at the price of 197.04 and exited at 197.14. I...

I appreciate the compliment! It feels good to hear things like that and know that people think you are going to be a success (although im a hell of a long way away from success yet lol!).

Yeah but I don't know of many other jobs that can be as rewarding as trading can be so quiting trading is out of the question. Like one of the posts earlier said. They don't have to play the game. When you make a trade you should expect to lose money. Its the nature of the game. Kill or be...

All very good questions and all very tough to answer. I manage my risk very discretionally. I usually will not use stops but keep mental levels in my head as to where I would look at getting out. I will hold trades anywhere from 1day-1month. It all depends on the particular situation im in...

futuresRX How much volume does the euro fx pit trade a day? How much for the rest of the currency pits? I remember being down there about a year ago and I thought that they combined all the currency pits together due to most all contracts being traded on the screen? I could be wrong though.

I somewhat agree with you guys but in my experience (especially trading intraday) I find that the more I want to screw somebody the better my trading gets. This is probably not very healthy to think like this but it works for me so I don't really care. Im just wondering if anybody else thinks...

A trader in the swiss franc pit once said that the best guys on the floor were sadists. He said that sadism is the key and you really want to have to stick it to people in order to do really well in this business. I find this somewhat true but not completely. Any thoughts?

CME products will not open until 5:00am tomorrow morning. Only NYMEX/COMEX is open for tonight's trade. At least thats what it said on the website.:)

Thanks for the compliments. I picked that reason based off of price action alone. All im trying to do is look and see if the market can start to make new lows since it has failed to make new highs (a stratagy I use intra day also). I don't use any tech indicators (usually). Although I do...

Happy New Year Everyone! Its another year and lets make it a profitable one (I have a long way to go to make my yearly goal). Looking ahead into tomorrow. Im planning on getting short crude if we can get a break below 94.73. I don't go back to school until thursday so I will be...

The three catagories are the big specs (funds), commercials (cheveron/texico, exxon mobil, etc) and the small specs (guys like you and me). The big specs are the guys you want to pay attention to. The commercials are almost always opposite the funds. They have their time and place but you...

What difference does it make if it closes down? I know what I would do if the exchanges ever closed and that would be to get my ass on the nearest plane towards vegas and be a sports gambler. When you think about it what is the difference between a trader and a sports gambler? They both do...

they are long crude. the small specs are short. all in all its a bullish sign.

It was a fun day today everyone. I mean a really fun day!!! Like I said earlier this morning I got out of my coffee at even money. I did also exit my oj today at 145.50. A measly $465 made there. Like I was also saying. Im starting to trade intra day more (I know, I know my intra day...

huh......I guess nobody trades brent crude.

Good Morning Everyone Coffee up a full point this morning. Im out of all 3 contracts at 133.5 unscathed. OJ down about .50 Been trading a few british pound contracts since 3am and they have been good for about $118 so far. I have been trading the currency markets intra day for a while...

An ear to the floor actually. I think its an old saying for keep your ears open.....hell I dont know lol! But thats the point that im trying to make. Get all the info you possibly can, do your homework, and keep your ears open for any sort of news that might be out there. Fog can be a...

lol boy thats a mouth full lol! Not sure I would call that rich but its definantly a start right? Yeah sure I can explain the report. No I did not get all that info from the eia report but most of it I did. People accredite the majority of the draws in crude due to the fog in the houston...