5% - 10% profit per day trading

[coolshades]

spanish, a short about now for an exit at around 4420?

 

[coolshades]

looks like my earlier post was a good call. i had written that post when oil was at 45.47 and price is now 44.03

too bad, i wasnt on that ride. by the time i finished posting, oil had already dipped 30 odd points and didnt make sense to enter then.

oh well, other opportunities will come.

 

[porph]

Quote from Armstrong:

Hold on. Read the thread i am talking about. here is the snippetfor you below.

I am not trying to do anything to your porph. It just porph of T2W and Elitetrader and time seems to lack cosistent. Over here he seems friendly to spanish and over there not very friendly. But that may be my mistake in reading the situation.

Those are direct quote. you can read yourself over there.

porph
Senior Member


Join Date: Jun 2008
Posts: 186


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Quote:
Originally Posted by UKtradergirl
i haven't seen advfntrader's posts. That is really sad. And precisely why idiots like Spanish89, etc shouldn't be encouraged.

I wouldn't be sad, the guy has had plenty of advice, pretends to have got wise then just GAMBLES it all away again. Too THICK to trade IMO.

porph
Senior Member


Join Date: Jun 2008
Posts: 186


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Hi, yes that is me. I've noticed a lot of newbie traders picking that thread up with some horrible ideas about stop losses in particular. The 'strategy' seems to be, guess the direction, though not much thought is put into that, something along the lines of 'its fallen 500pts in the last couple of days so its bound to go up'. Then open the trade. Their confusion then comes as they dont know how wide to have their stop loss so that it isnt hit before the trade (might) go into profit....

There seems to be virtually no discussion on setups. I'd like to give the odd pointer but honestly, I dont really care if they blow up their accounts and I wont pretend to. I think if im honest I even smile a little at their misfortune and bizarre desire to call themselves 'traders' to justify throwing lots of money at something for which they have done no preperation and is effectively the same as thowing at the bookies, minus any sporting excitement.

http://www.trade2win.com/boards/general-trading-chat/41616-spanish89-7.html

Are you on a windup? As quoted, I was clearly talking about someone else in the first post. IN the second I was clearly talking about all the people that have come and for the most parts gone with zero account balances who want to hear Spanish's calls but have no idea what they are doing and make little effort to learn.

I'm not sure what your agenda is to be honest?

 

[NO:1 OILTRADER]

have just made another £59 on oil this morning catching a good swing from the bottom to teh top, only 50p per pip but still way more than i make in a day and that is tax free. not quite sure wot i was doing but saw it come right off quickly so thought it would be worth a quick punt on the hope it would rise.


i had my stop about 50pips away so risk to reward was very good on this trade.

does anyone know wot time spanish gets ojn here, he seems to be up most of the night but is not ta morning person.

Meli.

 

[The Trojan]

Quote from porph:
I'm not sure what your agenda is to be honest?

I don't know my man, but something smells bad.

 

[The Trojan]

Quote from NO:1 OILTRADER:

have just made another £59 on oil this morning catching a good swing from the bottom to teh top, only 50p per pip but still way more than i make in a day and that is tax free. not quite sure wot i was doing but saw it come right off quickly so thought it would be worth a quick punt on the hope it would rise.


i had my stop about 50pips away so risk to reward was very good on this trade.

does anyone know wot time spanish gets ojn here, he seems to be up most of the night but is not ta morning person.

Meli.

Nice trade, how did you decide it was the bottom and how did you decide it was the top?

If you keep making trades like that you don't need spanish

 

[Armstrong]

Quote from porph:

Are you on a windup? As quoted, I was clearly talking about someone else in the first post. IN the second I was clearly talking about all the people that have come and for the most parts gone with zero account balances who want to hear Spanish's calls but have no idea what they are doing and make little effort to learn.

I'm not sure what your agenda is to be honest?

On agenda. I am neutral. Haven't got any. Definitely i am not trying to wind you up.

I thought some of your post were a bit unfair to Spanish over there on T2W. The key words here is i was surprised. In other word i didn't expect it coming from you. That all nothing more nothing less, So i was expressing my surprise.

If you your friend is lynched by the mob what do you do? Do you go over and help him out and try to rescue him or you become part of the crowd and stick the knife in as well. I mean if a friend can do that who need enemies. You stick with you friend especially during difficult time.

I have do doubt your are good person but sometime people can get carried away with lynch mob mentality and prevailing wind.

If you want to help somebody better to do so on is journal. if he doesn't accept your advice let him make his own mistake and he will learn from it and remember your advice. That's how most traders learn through making mistake.

That's how i read some of your posts. But may be i was mistaken and wrong.

If so, accept my sincere apology once again.

 

[The Trojan]

Quote from Armstrong:

If you your friend is lynched by the mob what do you do? Do you go over and help him out and try to rescue him or you become part of the crowd and stick the knife in as well. I mean if a friend can do that who need enemies. You stick with you friend especially during difficult time.

I get a gun and shoot him - makes it more painless and gets it over and done with

 

[NO:1 OILTRADER]

Quote from The Trojan:

Nice trade, how did you decide it was the bottom and how did you decide it was the top?

If you keep making trades like that you don't need spanish

hi trojan,

i think it was just a bit of girly luck. the trade was perfectly executed at both ends, although now wish i'd have held for longer. i've had trades like that before but then i've also had trades where i've been stopped out by the tick only to see it shoot in my direction.

Meli.

 

[The Trojan]

Quote from NO:1 OILTRADER:

hi trojan,

i think it was just a bit of girly luck. the trade was perfectly executed at both ends, although now wish i'd have held for longer. i've had trades like that before but then i've also had trades where i've been stopped out by the tick only to see it shoot in my direction.

Meli.

I don't know a lot about this, but you're never going to really know how much you can get - it's just a case of taking something that will give you a favourable out-come in the long run. eg, taking 3 for every 1 you risk, 2.5 for every 1 you risk etc. Do that often enough and you can expect a profitable outcome in the long run and we're not just talking about today/this week/next but over a longer period of time.

If you still think there's momentum in it and it'll keep going up you can always get in as it falls back. If you're getting stopped out by 1 pip that's got to tell you something. (Here's a clue, it's not that your stop needs to be 1 bigger )