5% - 10% profit per day trading
- Thread starter spanish89
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cool thx.
You trading today?
You trading today?
Hey Spannie, I was thinking of you at the week end. The Panasonic.co.uk web site was fucked up and all the goods were fore sale at only 1 penny!
Really was, some folk I know managed to get 59 LCD TV's 100 micro waves etc but the company started to take the products off line - quickly lol
However, they might have to honour the agreements if the orders were accepted - maybe a web hustler like you could comment on the legalities of this? lol.
Really was, some folk I know managed to get 59 LCD TV's 100 micro waves etc but the company started to take the products off line - quickly lol
However, they might have to honour the agreements if the orders were accepted - maybe a web hustler like you could comment on the legalities of this? lol.
aloha mate, nah i cant cos im still having to wait for my debit card to arrive in the post so i can put my money back into my trading account again.
I wouldnt trade 1st day of new contract anyways though,
as i want to see the contract settle in before i start looking at big moves to trade the reaction off.
But from 6m today we get bernanke and then fomc statement, so theres gna be movement then.
Aloha did you manage to buy loads of the stuff fast enough before they relaised?? :eek:
And theres no 'legal contract' involved, its the shops stock, and so they can just not send the products from their warehouse t the customers until the customer pays the real value.
Customer could try taking legal action, but itd cost them £30 just to make a claim, and if they lost, which they would, they lose more money, so no-one would bother unless they were an idiot. lol
However if you were lucky enough to buy it early and they shipped it to you before they realised then you got lucky and theres nothing they can do about it then.
Quote from spanish89:
aloha mate, nah i cant cos im still having to wait for my debit card to arrive in the post so i can put my money back into my trading account again.
I wouldnt trade 1st day of new contract anyways though,
as i want to see the contract settle in before i start looking at big moves to trade the reaction off.
But from 6m today we get bernanke and then fomc statement, so theres gna be movement then.
Yeah I am gonna wait for Bernanke to talk and see if there is a big reaction in either direction, when it peaks, I will take a position against the big move. I hope all of this happens before the close time though. I hate trading 1-2 hours before close.
My fav time for trading is 2 hrs before and after nymex opens.
My goal for today is to make $500.
Hey spanish,
We just broke down again, but I don't see any support bellow these levels. Do you have any support line showing up?
We just broke down again, but I don't see any support bellow these levels. Do you have any support line showing up?
I think it is insane for a newbie not to use a stop-loss. Unless the price has moved into profit and a trailing stop is in place at the break-even level or better.
I can understand not using a SL if one has a vast amount of capital such that a price move of +/-3 standard deviation results in less than a 1% move in equity but otherwise it doesn't make sense to me.
Generally, not using a SL is (in my view) an admission that one is not comfortble taking losses and that there is no plan behind the trade (hoping that the price will give one back the 30% DD before wiping out one's entire account doesn't constitute a trading plan).
Anything that makes the trader more emotional is increasing the probability of losses.
Daily targets tend to lead to emotional instability in my view. I have daily profit limits, if my account goes up by more than 30% in any given day than I stop trading (this is a limit not a target). If I sustain losses of 5% of capital then I'm out for the rest of the day. Too large a ROCE in a given day hints at over-trading or the misuse of leverage both of which lead to emotional instability.
It doesn't make sense to be risking more than 10% of your capital on any 'intraday' trade but I'd recommend risking below 5%.
I can understand not using a SL if one has a vast amount of capital such that a price move of +/-3 standard deviation results in less than a 1% move in equity but otherwise it doesn't make sense to me.
Generally, not using a SL is (in my view) an admission that one is not comfortble taking losses and that there is no plan behind the trade (hoping that the price will give one back the 30% DD before wiping out one's entire account doesn't constitute a trading plan).
Anything that makes the trader more emotional is increasing the probability of losses.
Daily targets tend to lead to emotional instability in my view. I have daily profit limits, if my account goes up by more than 30% in any given day than I stop trading (this is a limit not a target). If I sustain losses of 5% of capital then I'm out for the rest of the day. Too large a ROCE in a given day hints at over-trading or the misuse of leverage both of which lead to emotional instability.
It doesn't make sense to be risking more than 10% of your capital on any 'intraday' trade but I'd recommend risking below 5%.
I just shorted 100,000 USD/JPY at 93.27
looking for .25 pull back.
looking for .25 pull back.
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