5% - 10% profit per day trading

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Quote from spanish89:

Ive found an incredibly great website age that give syou a list off all the chart formations,
and even explains how best to trade them. :)

So well worth a look for everyone, even those who already know most formations and how to trade them,
ateast now you can put a name to them.. :cool:

http://www.coveredcallswins.com/chartpatterns/BestBullish&BearishPatterns.html#rounding-tops
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Can i ask everyone which of these formations you focus on trading mostly??
And which 1s you find easiest to consistently trade profitably daily?? :)


Cos as everyone knows i specialise in just trading head n shoulders, and going to now start doing diamonds as aswell..,

but i know a few people here prefer to trade mid range trend-movements, and so im curious as to which formations you focus on trading off, and if you have any tips you can share with everyone about how you manage to frequently profit from it,
not get stopped out 1st?? :)



Because while i am going to stick to what im best at and focus on head n shoulders and diamonds,
i would like to also start trading pendant formations. (flagpoles)

As i spend more time watch and analysising them, over the amount i do my reversal formations.


And ive noticed that they often either consolidate/or reverse very fast n hard,
or do they the pendant and crash down $1 t $3s each time.

But they can be traded with a 20ticks stoploss, and the probability and frequency of them crashing down instead of reversing agaisnt you is just about high enough to make it worth while you risking 'actually having chnace of you losing your money money',
so i am going to also try trading them at a lower £ per tick. (maybe just £4 per tick for them).




But im curious as to what other formations everyone else focuses on trading off mostly?? :)
 
Quote from paul_alan:

trade the famous swan formations
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Lol

Thats not a formation though mate...

Its just 2 V-Bottom formations, with some sideways consolidation in between them.


And its not a very common formation that you get regularly most days anyways. lol
 
Quote from spanish89:

You focus on trading slanting-wedges mate?? :eek:
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Sometimes they are and sometimes they are not.

What I look for is a move, followed by a 2 wave correction. I enter on the break of the trendline of the second wave in the range.

There are other nuances, like the second wave being slower then the first, but it is a good low risk way of entering a continuation trade (for me)


:)
 
what do you guys think about the market tomorrow? bullish or bearish? targets?

IMO we will see a drop till 3940-3970 and we will be seeing a high of around 4150-4190.
 
I use the hourly 20ema and 50sma and 15min 20ema and 50sma (moving averages) and trade the bounces off them with the trend. I don't usually trade the retracements.
The way it has been ranging lately it has been pretty easy to sell at the top and buy at the bottom though.

Nic
 
Quote from usman88:

what do you guys think about the market tomorrow? bullish or bearish? targets?

IMO we will see a drop till 3940-3970 and we will be seeing a high of around 4150-4190.
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ALoha mate, i think we could see quite a big up move overnight during asian trading and and maybe even in uk trading if the nigerians attacking oil pipelines over weekend if traded upon..,
and if the comments by iraqi oil minister on saturday are taken seriously and acted upon by traders.

I wont be at my laptop during the morning though anways.
:)



The key levels on upside will be- 40.26, 40.86, 41.62, 42.26 and then 42.86, 43.26 and then 43.86.

On the downside they will be- 39.26, 38.86, 38.62, 37.86, 37.66, 37.26, and then 36.62



Although as the option expiry was on monday there could be alot of movement if all the market mover traders re-load on purchasing their options for the next month.. :cool:
 
Quote from usman88:

what do you guys think about the market tomorrow? bullish or bearish? targets?

IMO we will see a drop till 3940-3970 and we will be seeing a high of around 4150-4190.
More...


The bias is on the upside because most commodities, except energies, have put a bottom and are ready to rally. Majority of the CRB index components, i.e. corn, copper, soybeans, etc are all trading above their 50 day moving avg and most of them have bullish patterns with higher highs and higher lows since their December bottoms.

The bad news is that energies are falling behind. Actually, gas is doing okay but crude oil, natural gas, heating oil, are all lagging terribly behind.

My hunch says that if commodities rally, they will drag energies up with them.

I just hope we break out of this tight range. This is really frustrating.
 
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