5% - 10% profit per day trading

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Im gn watch the market now, dont think il trade it today though as its too choppy for my liking...

But may have afew trades if they are just too too easy to turn down.


And il be in my chatroom though + will pop into teh tw room just to irriate and windup some off the fools over there! :D :p


But if anyone wants to chat to me / blank me and just use my room to chat to others, heres the link- http://vyew.com/room#/461502
 
Quote from advfntrader:

Porph you are 100% correct - you need to cut losses sharp and let profits run. yesterday I had stops of 100 points that were hit twice.

I widened one stop as I "thought" it wouldn't be hit but it was.

my comment was that i have rarely seen Oil move that +- 500 points on a day. so if its -350 for the day maybe some pullback is due ?
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Why would you widen a stop if you 'thought' it would not be hit? All a stop is is a limit order in the opposite direction. If you also consider being flat as a position then each trade and each 'stop' is just a means of adjusting that position. You open your buy but at the same time you have placed a limit sell 100pts below it.

If your reasoning for placing the 'buy' order is that you 'think' price will go up then you just be able to give reasons why and not just 'oh its come down 400-500 points today therefore it must go up'. Does the price action show bulls arresting the decline and the high probability setup of an increase in price?

Of course within that reasoning you accept that this may not happen and you need to define the point at which price as confirmed that this is not going to happen. At this point you no longer want to be 'long' and so you place your limit sell.

This may be 10pts it may be 10000pts. If the true stop point for your trade means you are risking too much £ per trade then you shouldnt be trading that instrument as you are compromising one of your most important tools.
 
HI guys, I haent posted for some time so sorry about that, have been too busy losing money. I have now just lost another £150. I think my stop was too tight but I'm only doing a pound a point and thought that 150pts stop was enough.

Am lost and need help cos christmes will be crap.

Meli.
 
At what point it a trade going 130-140pts offside not enough warning that you got it wrong? How big is your account? What relation does 150pts have to the opening price and the price action?
 
Quote from porph:

At what point it a trade going 130-140pts offside not enough warning that you got it wrong? How big is your account? What relation does 150pts have to the opening price and the price action?
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Hi porph,

I'm just trying to get some money and hope that one day i can leave my crappy job (temp). I enjoy trading but dont know much about it, thought i did but dont. have got many books on it and have read them thouroughly and i know its a big boys game. I dont see many girls in this game and this forum also seems male orientated, not that i mind though..lol.

I thought by using a big stop of 150 it wouldnt retouch 43.50 but i was wrong....again. I've had some good wins but net i am down. I dont want to give up but my money will be the deciding factor.

Thanks for any help you can give.

One sad meli.
 
Ok Guys---for the not so experienced. Try this.
Wait until price is at support or resistance and place your stop 20 points the other side. If it reverses which is more likely then your quids in -if it breaks through then your only down a little.
Only my opinion and I`m not claiming to make a fortune but its kept me in the game without losing half my account on one trade---there`s always another trade on the horizon.
Make sure these are major S?R as minor ones are being ignored in this market.
 
Good morning everyone!

Looks like Spanish was right again. Damn, good job man!

I see that our uptrend channel is still in place.

Anyone already started trading the Feb contract?
 
http://www.trade2win.com/boards/general-trading-chat/41616-spanish89-30.html


Im not sure why everyone is blaming me for anyone else mlosing money by following ''my'' trades....

Since in the last 3weeks ''my'' trades have had 1 loss..., a loss of '2 ticks (and thats when you have added teh 12ticks spread in!!!)

And have made just under £10,000 profit, from a starting capital 3weeks ago of just 4k!!



So anyone who followed my actual trades would have had a week where they had:
Loss: 2ticks
Profit: About 1,666ticks!!!




I dont ''tell'' anyone to make any trades ok.

I simply post my trades when i enter, i then always most what would be a better safer entry and exit than mine,
and then simply post the results of my trades whether they be loss or profit.


The reason people ask for my calls and advice is because unlike loads of people who just talk the big smart sounding talk and repeat old cliches, but thats all they give and show....

i dont do any of that nonense.

i simply show people the results that i actually deliver consistently, often with very little risk,
and then explain to people who ask how they can do the same as that but with even less risk than me!!




I posted on here when i entered my last trade...,
i didnt say to anyone to do that trade though!!

I didnt even tell anyone to do anything, i merely said ''43.26 would be an extremely good safe long'', and if people used that as their level to go in they would have had perfect trade!


Just liek lastnight i didnt say to people ''dont take losses on your sells from these $47s, i merely told people why ''i'' wouldnt be taking losses, and tried to explain why.


Some people took losses, their choice to get in that trade and get out where they did...,
some people held out, maybe cos of what i said gave them confidence, maybe they just wanted to anways.

But the result was that what i said came true and what was really going to happen, since all i did was explain how rebounds and pullbacks work, as thats the area of trading i specialise in.




Thats why 'Lee sheperd', lots of my calls are alot more of 'observations', rather than saying ''buy there'....,
since instead of telling people what rtades to make,
i simply help them know what are the key levels that they should watch, and what moves and reactions could very likely happen, that they could trade if they chose to!




If anyone here is getting upset about me posting these 'calls/key watching levels' along with my analysis then please can they just private message me, and i will happlily stop if its losing tehm money.

The only reason i come on here during volatile market movements and so miss out on LOTS of potential money myself to post on here is for only 1 reason,
i know what it feels liek to be swamped by the market,
and so i give up my own time and turn down money to try helping people.

But if anyone does want me to stop please just say and i will... :(
 
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