5% - 10% profit per day trading

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Quote from spanish89:

LOL. Why you ''may'' be skilled at trading, you might want to brush up on your mental arithmetic mate.. :p Since 200% profit means making double your initial account capital in pure profit, or ending up with 3x what your starting account value was. :D
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200% profit does not mean doubling your capital. If that were true, merely keeping your capital would imply a 100% profit. Doesn't work. A 200% profit, or 3x starting capital, would mean capital of $10,000 rising to $30,000.
 
Quote from crgarcia:

You should get out and stay in cash in those irrational markets.

You should ALWAYS place stop-orders, even if they are loose stops, in case of an impossible to foresee emergency (natural disasters, terrorist attacks, coups, etc.)

If your account drops below certain level, you should stop trading and wait, to see what's wrong.

Blowing up accounts is just not acceptable from any point of view.

Being in the wrong market direction is acceptable, happens to us all from time to time. Being overleveraged form the beginning and failing to exit soon is utterly unacceptable.
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irrational markets are good trades. i dont think you should get out. just cut down on the size. if you lose with the cutdown, you should stop until you get your eye in... but whatever. different for everyone..
 
Had a look at oil today...

Gustav is getting even nearer to the oil, and oil drops over $4s!! :confused: :eek: :confused:

Does anyone else actually understand what on earth is going on??

And why oil would crash lower in price, the closer the danger to the oil gets??? :confused: :eek: :confused:
 
It seems Gustav will just be a stiff breeze, nothing more. Oh man, I wish I hadn't been at the breakfast table when Crude fell out of bed. Had a teriffic short setup going on. :mad:
 
Spanish,
This is why you should trade the price action, not your "rational" expectations. Markets are just not as easy as that....
Perhaps consider that price movement is influenced more by expectations and their relationship to numbers or facts on the ground.
 
And if markets were as straightforward and only moved on a single influence then everyone would come to the same conclusion and wouldn't be able to actually trade anyway because there wouldn't be a counter party.......
 
Quote from mr.charts:

S89,
TV news is a good source for something like hurricane downgrades......
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I have bloomberg TV on my laptop, but its crap in giving news fast enough.

What news service do the traders use who get the IEA and hurriance up and downgrades instantly as they come out live??
 
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