5% - 10% profit per day trading

spanish89 · Feb 10, 2009

ive put sell order to go off it marlet hits 41.44

i just relaly realy hope it doenst crah now before filling me!!

my target will be 40.86

lemeeeplay · Feb 10, 2009

I got out at 41.5

the market is strong, it just doesn't want to go down

lemeeeplay · Feb 10, 2009

damit, now its going down.

usman88 · Feb 10, 2009

Quote from usman88:

I am buying on 3950 with target of 4175. no stop

target hit and 225 ticks earned.
After putting my buy order I went away because I knew that if market rose to around 4050 I would be tempted to square my position therefore I decided to go and do some other important stuff.

I would now be looking to buy again near 4000 level

lemeeeplay · Feb 10, 2009

Quote from usman88:

target hit and 225 ticks earned.
After putting my buy order I went away because I knew that if market rose to around 4050 I would be tempted to square my position therefore I decided to go and do some other important stuff.

I would now be looking to buy again near 4000 level

Damn good work again USMAN! You are timing the market down to the tic. How did you determine 41.75 was a good exit?

I am getting ready to go long on GBP.USD

lemeeeplay · Feb 10, 2009

Looks like missed my cable trade as well. It just jumped 40 ticks in 3 min :mad:

usman88 · Feb 10, 2009

Quote from lemeeeplay:

Damn good work again USMAN! You are timing the market down to the tic. How did you determine 41.75 was a good exit?

4200 was a big resistance in my chart
Moreover 4171 was 14 day moving average. And since the market is sideways(on a bigger scale) 76.4% retracement was highly likely. Personally I was also thinking about shorting near 4200 but I was away and market never reached that point

x2012 · Feb 10, 2009

Quote from spanish89:

il have to private message you reagrding this mate as there has been a criminal threats issue regarding that... :/

mind private messaging me about this as well spanish?

not traded much so far this week due to being buried in tons of uni work...but good calls usman and others.

lemeeeplay · Feb 10, 2009

Interesting that you use an odd moving average like 14 days. Do you think that gives you better edge as opposed to using what everyone else uses, like 20, 30, 50 days etc?

usman88 · Feb 10, 2009

I do not 'use' moving averages. My system is based more on a discretionary basis. However I do watch every possible thing that is to watch e.g. recently Ive started watching S&P etc. 14 day is working for me since the last 2 weeks. Maybe coz its more short term?

But I dont care about all that. I should be profitable and thats all that matters.

I am now working on a trade shorting S&P and buying crude oil. I wanna do historical backtesting and but I aint good at coding...