5% - 10% profit per day trading

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Im going for it to touch 44.26


so il get out at after srpead of about breakeven.


Its gna have to break through the 44.99 that it hit before then bounced off, go through the 44.39, and down to .26


this is really a very very ugly dirty end to the day though
 
thanks to spanish, candles, porph and blackjack... In the last few months I did learn more from observing how you guys trade than all the time and money I spent on useless information.

these are my trades of the day, all of them were based on the info I found on this thread. keep up the good work and I promisse to pay you all a pint or two when i reach my target.

Gold - Daily Future
22383 Open 6312624 10/12/2008 15:48:00 Buy 5 800.8
22383 Closed 6312652 10/12/2008 15:50:00 Sell 5 801.6 £40.00
22383 Open 6313120 10/12/2008 16:35:00 Buy 3 808.3
22383 Open 6313142 10/12/2008 16:35:00 Buy 3 808.3
22383 Closed 6313142 10/12/2008 16:39:00 Sell 3 0 Stop Loss Move
22383 Closed 6313143 10/12/2008 16:39:00 Sell 3 0 Stop Loss Move
22383 Open 6313143 10/12/2008 16:35:00 Buy 3 808.3
22383 Closed 6313398 10/12/2008 17:09:00 Sell 3 812.8 £135.00
Nymex Crude Oil - Jan Daily Fut
22056 Open 6310827 10/12/2008 11:59:00 Sell 3 43.95
22056 Open 6310940 10/12/2008 11:59:00 Sell 3 43.95
22056 Closed 6310940 10/12/2008 12:17:00 Buy 3 0 Stop Loss Move
22056 Closed 6311241 10/12/2008 13:03:00 Buy 3 0 Stop Loss Move
22056 Open 6311241 10/12/2008 11:59:00 Sell 3 43.95
22056 Open 6311250 10/12/2008 11:59:00 Sell 3 43.95
22056 Closed 6311250 10/12/2008 13:06:00 Buy 3 0 Stop Loss Move
22056 Closed 6311266 10/12/2008 13:09:00 Buy 3 0 Stop Loss Move
22056 Open 6311266 10/12/2008 11:59:00 Sell 3 43.95
22056 Open 6311346 10/12/2008 11:59:00 Sell 3 43.95
22056 Closed 6311346 10/12/2008 13:28:00 Buy 3 0 Stop Loss Move
22056 Closed 6311531 10/12/2008 14:00:00 Buy 3 43.8 £45.00
22056 Open 6311536 10/12/2008 14:01:00 Sell 1 43.74
22056 Closed 6311537 10/12/2008 14:01:00 Buy 1 43.9 £-16.00
22056 Open 6311538 10/12/2008 14:01:00 Buy 1 43.91
22056 Closed 6311578 10/12/2008 14:08:00 Sell 1 44.23 £32.00
22056 Open 6311616 10/12/2008 14:14:00 Sell 2 44.18
22056 Closed 6311995 10/12/2008 14:54:00 Buy 2 44.05 £26.00
22056 Open 6312666 10/12/2008 15:51:00 Buy 3 42.58
22056 Open 6312832 10/12/2008 16:03:00 Buy 1 42.11
22056 Open 6312919 10/12/2008 16:03:00 Buy 1 42.11
22056 Closed 6312919 10/12/2008 16:14:00 Sell 1 0 Stop Loss Move
22056 Closed 6312924 10/12/2008 16:14:00 Sell 1 0 Stop Loss Move
22056 Open 6312924 10/12/2008 16:03:00 Buy 1 42.11
22056 Open 6312929 10/12/2008 16:03:00 Buy 1 42.11
22056 Closed 6312929 10/12/2008 16:14:00 Sell 1 0 Stop Loss Move
22056 Closed 6312952 10/12/2008 16:17:00 Sell 1 0 Stop Loss Move
22056 Open 6312952 10/12/2008 16:03:00 Buy 1 42.11
22056 Open 6312956 10/12/2008 15:51:00 Buy 3 42.58
22056 Closed 6312956 10/12/2008 16:17:00 Sell 3 0 Stop Loss Move
22056 Open 6312961 10/12/2008 16:03:00 Buy 1 42.11
22056 Closed 6312961 10/12/2008 16:17:00 Sell 1 0 Stop Loss Move
22056 Closed 6312969 10/12/2008 16:18:00 Sell 3 0 Stop Loss Move
22056 Open 6312969 10/12/2008 15:51:00 Buy 3 42.58
22056 Closed 6313070 10/12/2008 16:27:00 Sell 1 42.65 £54.00
22056 Closed 6313071 10/12/2008 16:27:00 Sell 3 42.62 £12.00
22056 Open 6313079 10/12/2008 16:29:00 Buy 3 42.52
22056 Closed 6313110 10/12/2008 16:33:00 Sell 3 42.7 £54.00
22056 Open 6313305 10/12/2008 16:55:00 Sell 2 44.64
22056 Open 6313367 10/12/2008 16:55:00 Sell 2 44.64
22056 Closed 6313367 10/12/2008 17:05:00 Buy 2 0 Stop Loss Move
22056 Closed 6313376 10/12/2008 17:06:00 Buy 2 45.72 £-216.00
22056 Open 6313388 10/12/2008 17:07:00 Sell 2 45.83
22056 Open 6313401 10/12/2008 17:09:00 Sell 2 45.59
22056 Open 6313569 10/12/2008 17:07:00 Sell 2 45.83
22056 Closed 6313569 10/12/2008 17:36:00 Buy 2 0 Stop Loss Move
22056 Closed 6313571 10/12/2008 17:37:00 Buy 2 0 Stop Loss Move
22056 Open 6313571 10/12/2008 17:09:00 Sell 2 45.59
22056 Open 6313575 10/12/2008 17:07:00 Sell 2 45.83
22056 Closed 6313575 10/12/2008 17:37:00 Buy 2 0 Stop Loss Move
22056 Closed 6313576 10/12/2008 17:37:00 Buy 2 0 Stop Loss Move
22056 Open 6313576 10/12/2008 17:09:00 Sell 2 45.59
22056 Closed 6313591 10/12/2008 17:40:00 Buy 2 45.47 £72.00
22056 Closed 6313592 10/12/2008 17:40:00 Buy 2 45.48 £22.00
22056 Open 6313599 10/12/2008 17:41:00 Sell 5 45.39
22056 Closed 6313760 10/12/2008 18:06:00 Buy 5 45.18 £105.00



thanks guys and dont stop posting here. it is kind of inspirational...
 
Took teh trade of the market exactly how i said i would, and accepted that i should take the loss on teh spike for the safety.

SO took the loss: £34 loss (thats after paying a spread of (£168 for the trade, as the trade size eneded up at £14 per tick!!)


So just an actual after spread loss of just 2ticks.

Physical loss of £34 cash.



I took the loss earlier than the line touch would have been at .16, so knew i was turning down about £80 potential, but cos the size i had built the trade into as the shorts squeeze had caught me off guard before, i just wnated to ditch it fast before any other nonense started happening.


But just to show the people on t2w i do take losses... :)

But the difference is i dont lose my head and panic and just throw money away everytime the markets simply having a stretch.
if you are that scared of the market and that out of touch and out with what 'realisticly' the worse that could 'happend and then stay and hold', you seriously shouldnt be trading.

*Which is why so many people on t2w are always losing money daily t monthly.



I managed this trade down from what at one point was a £2,000 open loss cos of that shorts vovering squeeze, into just £34 loss! :)
 
Quote from V8Media:

thanks to spanish, candles, porph and blackjack... In the last few months I did learn more from observing how you guys trade than all the time and money I spent on useless information.

these are my trades of the day, all of them were based on the info I found on this thread. keep up the good work and I promisse to pay you all a pint or two when i reach my target.


thanks guys and dont stop posting here. it is kind of inspirational...
More...



Aloha mate, and really welldone on your trades today. :)

I see you made loads of great profits, and did take losses at the actually needed times, and then dudnt let that throw you at all thoug as you came back and made loads more cash from even better entry levels. :)

*Extremely good considering how wild and mad today was.


How much capital you trading with mate??
And you doing this for a living??



Im just really really glad if even just a tiny bit of what i post here to try help peope does actually help them...

:)
 
Quote from The Trojan:

I don't understand all those lines? How can you trade off them? Would it not just be easier to use the horizontal lines of what looks like support/resistance?
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Aloha mate i hadnt forgotten about your question..,
but wanted to wait till i wasnt in any rush so i could answer it fully,
as it is very important.



You can trade of the lines in a whole range of different ways,
depending on your style of trading;

*All they actually are are lines that show you the 'only' places you need to look to see reactions in the market.


What this means is when you look at a chart on the right hand side (blank empty space as its the future), you basically need to make money by getting trades in the right direction that the line (price) will move in when its in that space in the future.

Sounds extremely hard because well how the fuck can anyone look at a blank screen and say 'this will happen over the next 2hours....??



However with these lines you trade off the ''reactions'',
as they will 'cause the future by how they do react'.




The market will make 100,000s of movements throughout the day though,
and so it would be very very hard to look the 1min chart as the price line is moving and know when to get in and out.

But so when you have these lines that show the levels that you need to look at when the price crosses them, it makes it alot lot easier to know 'WHERE' and 'WHEN' you would be making a trade if you were going to make one.

Since the price simply moves between these lines, reacting at its touches on them, and either boucing up of them, or falling through them to go test teh next line.



So-

You could trade it by entering longs off the touch on the line, stoploss maybe 11ticks below the line.

=Market bouces off, your in profit, and just follow it up to the next lines.
Or market breaks through, you have tight s/l so only lose 11ticks.


And watch it then fall about 36ticks more down to the next level.
You do same there and if that one holds you make MINIMUM 40ticks profit for when goes back up to the higher line. :)

So endup profitable



And then onc eyou get more advanced and confident and knwoing the levels that will and wont hold, and how far market can stretch in 1direction even if its really really ralling hard...

Then you can just let it fall down through quite a few of the lines,
so wait until theres been a big move in 1direction,
when you see it reach the next line down and its really really looking to struggle to go even lower there,
you then go long very big and hard with very big stoploss.
(As the lower it falls the better it is for you as you can add more longs so get better average price and at higher £ per tick, for whne it is forced to bounce back.


Or if you prefer to make smaller but safer trades to build up confidence (the way you should always trade, but i gotten lazy lol),
You- see big move down trhough lots these levels, so thats your guide that you can get a long for the ullback move taht will follow.
You then waut till you see it strugglung at a level to go lower and it starts to form head n shoulders formation (V-shape basically), you then go in long from there with tightish stoploss. :)




And the reason you use these diagonal lines not horizontals is because the markets moves that will happen in the future they will only happen under certain time frames.

What i mean by this is you see oil fall $4s straight in 30seconds, there will then be a big sharp pullback that will come at a very steep angle, and so will bounce higher.

However if that $4 fall takes 2hours then the rise will be alot slower too, and so your exit level will be lower as more time will have passed, and so the energy of the move will have died down and will ahve managed to get a strng new hold and consolidate at the lower level without any strong objection.


Ive attached a chart to help demonstrate-

On the chart i circled a low touch..,
the 1st near circle is where market would react if it rose fast so hit the line at ''that TIME''.
2nd circle is where market would react, since it was slower to bouce so less bounce left.
and 3rd is the higher market could make it before reacting if it took that long for price to rise to that level.


So you see if you had simply 1 resistance level at a set price, it would be too low for a quick bounce, and too high for a slow 1.

However with these lines you just wait and see where market touches the line, as it automatically does the time adjustment for you.




(I hope this post answers your question, and helps give a few people in a good solid safe to use style of trading). :)
 

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That was a good post Spanish (Not that I trade anything like you).... its good to see you trying hard to explain your thought process and help people understand your method.

Also, to the guy who mentioned me earlier, Im glad to have helped you.

I took a bit of a beating this morning but have recovered very nicely and am up nearly £6k for the day.

Well done spanish.

Good trading all.
 
well hope all is well spanish mate? had a little dabble in oil again today was long at 4302 but the market moved down and by the time it came back i just closed the trade for a small gain then the market ran all the ways to 56.00 :::::( also went short at 5504 only again to see the market fly up to that 56 level close the trade out at 5532 for a loss as need to go out and just dont trust my dealers stops so disappointed when i got back that oil had moved back down to 53 level, but the one thing i can take from it is that i was calling the market write today only that my entry points might have been a little off and thats what causes me to close out for small losses or gain, just need to come to terms with my trades, also been trading the sp500 very tight stops as i have access to a live traders web site email if you want it he is cityindex senior trader tom hougarrd
Also looking to go to a training day with Alan Rich he teaches and trades live for the day anyone been with him? he has gotten a few good reviews on t2w, just need someone to focus me and send me in the right direction.
i watched some of your calls and they seem to doing very well at the moment as oil is in a great rane i cant see how i have nt made money out of it but hey thats life
cheers
 
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