5% - 10% profit per day trading

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Quote from The Trojan:

I haven't come across that, a few other things you said like "sell on the rumour, buy on the news" -
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Sell the rumour buy the news.... :cool: lol

Or somethime siths other way round, its always easy to knwo which way round it is though.


Like on friday everyone knew opec was meeting on weekend and everyone thought they would cut oil supply.., so everyone rushed out and bought oil at the close as no-one wanted to be the sap who missed out.

And so cos of all that buying the price rose so much.

It wasnt so much a 'rumour' but more an expectation, but basically the same thing.


(I personally was smart however, saw how high dow had risen all week and so i knew it was gna crash monday and take oil with it, so i had no intention of buying oil, instead wnated to sell it, but wanted to wait till monday cos if opec did cut supply i could then let price rise and sell at even better higher price/
And i sold the dow very hard hard right at the top of rally on friday though to be holding over weekend... :D)


But basically buying rumour selling news means like when the usa government say ''we gna give out 60billion dollars in tomorrow to hoep tat will save teh economy''... that makes dow rocket instantly as everyone gets excited and so buys into teh hope and exectation that economy will be saved.

But tomorrow when the money is given out well thats it, its all done and over, all teh excite ment dies away...,
and is replaced then with questioning and worry form people saying ''will that be ebnough though??'' and ''what if even that doesnt save economy how mch more moeny can they print??''.....

so market then pullsback n crashes as people sell off cos of that concern.
 
Quote from The Trojan:

Just the charts looked like a load of lines to me and they didn't seem to relate much to the chart from where they were drawn -

I understand the basics of some support/resistance from what i read online and some of your lines where you drew support weren't support?

Also, the channels - or I think they're channels, I didn't really understand how you were able to draw those, and more importantly trade off them.

I guess this stuff is really simple to someone as experienced as yourself, but i'm just struggling to find out about this stuff online.
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K horizontal S&R levels are only useful for knowing where to 'dump trade' at strong solid resistance levels.

For getting into trades its much much more effective to use diagonal levels.


Since if markets formed a horizontal S or R level that usually means its like a double/triple, and they are often smashed through.

However digonal enteries are alot more accurate as entry levels, as you can enter in with the trend.
My favourite and the ultimate easiest and best way to get in is off 'head n shoulders formations'.



Those diagonal lines i drew on chart they are just 'trend channels'.

They are form the 30mns t 1hour chart, zoomed out to max, and just satrt from the left and draw a line from the top of the highest spike there through the top of all the highest spikes to the end at the right of chart (most recent).

You then do the middle levels all joined.
And then lower levels joined.



These are 'trend channels'.

Since market always does consolidate in ranges.
And so you just draw those diagonal lines to show the top and bottom on intraday ranges.

These are the 'trend channels'.


Then when price jumps over 1side of the channel, consolidates, and keeps moving its breaking into a trend and starting a new higher channel.



So when you have all these channels drawn on the chart its good cos you can then see how many channels its breaking trhough, and when price touches the line it always will react at that touch, so you know that you only need to watch those reactions.
 
K im gna go get breakfast now and go gym as i havent been for so so long now, almost since back when i was at college before i switched to fulltime trading in June... :eek: :(


Goodluck everyone though.. :)
 
Spanish, does someone making what you make really need to scam hot water? I spent £895 last week on a bottle of the rose champagne you were boasting about drinking (although it was in a "gentleman's club") and I can't believe that your yearly hot water bill comes anywhere near that...
 
Just checked teh markets, saw what happend to oil...

duno what ten fucks caused this now, sinc ejobless was better, nat has under supply, dollar weaker....... :eek: :confused:


But caning oil now with a £9 long
 
k in at £10 long from 44.38 average price (slightly too high)

Target is oil hitting 45.74 (fill out at 45.68) :D


Still dont get whats caused this in oil as dollar weaker and dow is up, but when that does hit oil its gan be fun :p
 
Looks like your kicking ass mate.

I had my first day where I didnt make much yesterday (£310 lol) but am back with a vengeance today and am up 1.7k so far.

I am getting annoyed at sitting at the screen too long though. I like to make my grand or so by midday and then go mess around. Im looking into ways to allow me to do this.

I will post a screenshot soon as have set my self an account of £50k by christmas :)
 
Ahhhh that old fool bernanke caused it by aying something!! lol :D

Must remeber to send him a thankyou card for making suc asn easy long trade opprtunity for us.


This now about 26% fall in 1week straight!! :p :cool:



too easy
 
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