5% - 10% profit per day trading

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Quote from mctom:

Classic--resistance at 44.65 reversed --35 points in the bag
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nicely done mate... :cool:


i trailed it down to the 43.26 bounce, and then as saw the dow surging i let oil lathered itself up very fast for the pullback, and dumped all the trades as market hit 44.76 on a spike from the tick-tick chart.. :)
 

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Hi spanish89,

Please dont stop, i have been following you on here for months, well, since i started trading oil that is. I need a litttle help with my stops, i got in where you did but unlike you i lost money...again. i just cant believe my luck, i enterd the trade adn almost immiediately went against me. i take it you are still holdign this oil long, wish i could do the same as its now gone back up, like it just touched my stop then shot in the right direction.

I have also sent you a private message as i would like to know what i need to do to get this right.

thanks.

Meli.
 
Yeah spanish, keep it up. Don't stop posting.

I think what most people should realize is that you are both a day and position trader. Those that don't like carrying trades overnight shouldn't try to match your trades 1-1.


After opening my long right now, i noticed we got a down trend channel in the 15 min charts.
 
thats £233 more profit, so + that to the 872 from earlier and its not a bad day i guess from a 12k account. :)


i seem to have the knack for doing everything in the hardest most tough complex way though!!! :D


For exaple i was holding a £14 sell from average 46.60, dropped them all barely under $46.

market now gone under $44.. lol so turned dwon about £3,000 there today.

wednesday i had sold right from top, cashed in at 1st dip after oil inventory, missed £2000 over next 5minutes as market free fell! :eek:


Then got my £12 long in at the very very low the $43sright at the bottom of the dip down, bailed out as it looked liek struggling, 35seconds later there was that huge spike up to 46.17!!!


so turned down over £3,000 more then.


its now actually become a daily occurence, so it just no longer nagers me.., can actually laugh about it! :D

Does fuking bug me occassionally though about how rich id be if i held my trades on after i get these entries in.... :cool:
 
Quote from lemeeeplay:

Good morning everyone!

Looks like Spanish was right again. Damn, good job man!
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Thanks mate... :)

Its just because over these last 2weeks we have been having markets that are perfectly suited for the style of trading that i specialise in.

'Big sharp steep spikes and dips that can be smashed hard for the pullback'.



Im sure that lots of people here could probably help me in other styles of trading that i dont like doing so much when using big sizes such as 'trend chaser trades (what i call those trades)', that i can do very well when using £1 t £2 per tick / 22ticks stoploss, and just get good entry and follow trend.

I dont like those trades at more than £2 tick as they are too stressful and dont suit me pyschologically.

SO im sure lots of people here can go higer £ er tick tahn me on those and still keep up lots of profit.
 
Quote from NO:1 OILTRADER:

Hi spanish89,

Please dont stop, i have been following you on here for months, well, since i started trading oil that is. I need a litttle help with my stops, i got in where you did but unlike you i lost money...again. i just cant believe my luck, i enterd the trade adn almost immiediately went against me. i take it you are still holdign this oil long, wish i could do the same as its now gone back up, like it just touched my stop then shot in the right direction.

I have also sent you a private message as i would like to know what i need to do to get this right.

thanks.

Meli.
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Aloha, no i ditched the trade about 20mins ago at the top of taht high spike to 44.76.. (sorry)

I dumped it cos oil does follow dow 5second/5second moves.., and so i always keep dow 1min chart on 1 side of my screen, oil chart other side.


And the reason i felt so comfortable using such a big stoploss on that trade when i entered was-

I knew it was likely oil was gna fall through that support and could touch the 43.26 at worst,
however i knew that if the dow held and rose oil would start teh bounce way before.

Dow: Dow fell about 500points straight over yesterday and today, majour support at 8262, market at 8356 roughly, upside room up to 200+ as that would still just be breakeven, and would still leave it down 300.

So i knew upside majourly outweighed downside for dow, especially since the car news they were priced into dow already about 4weeks ago, and so this 2nd pricing was weak anways i knew, and it came overnight already.


So thats why i knew i could do whatevery i wanted when going long on oil as the risk was very low, extremely likely to bounce to near what target was even if it did fall down to what could have been its worst case scenario (43.26),
and so i added my longs at just 31 n £2 tick as oil fell, not big adds, so managed to get all £9 longs in at average of 44.44 after the spread too.



Il read and reply to your pm now btw...
 
i know my above analysis may sound kind complex, but if you re-read it a few times and as you get used to having to handle news and mult-markets all at the same time it does become alot easier and so you can just act when its needed / not act when its not needed.


To try simplyfy-

I saw oil down 7% srtaight, down down about 6% straight straight..,
both very steep dips so pullback was not far from coming...

All bad news priced in already too.



So i just played the %s upside potential vs further downside realisticly possible.

So then you know what direction to go in, its just a case of you waiting for best low entry possible to maxise profit.
 
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