5% - 10% profit per day trading

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Quote from The Trojan:

So will you actually be trading it and how much /pip? It's not really an amazing call as it's just support/resistance but could still be good if not a bit too obvious.
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ALoha, yea i will be trading it at either £1 or £2 per pip.
(depending on how big each gold pip movement is in % terms).


How can a trade be 'too obvious' though?? :cool: lol

You get into a trade cos you think loads of other traders will also be making that trade and so the market will move in the direction you are all trading.


So the more obvious it is and more traders waiting for it the better it is.. :)
 
oil passed the below test even when S&P dropped from 700 to 695 that is NOT fading but hold 41 price mark last half hour ( literally holding to 41.20 for 15 minutes )

now we can say oil has strength going into tomorrow till at least till govt. oil stock piles are released

Quote from InvestVision:

hmm.. for that one indicator may be oil should not drop below 41 now onwards .. (now @41.30 )
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Quote from usman88:

for tomorrow i believe we will see 4350 no matter what the inventory numbers are

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good luck guys.. :)


I personally wont buy until under 38.26 though.


And especially with how long oil trends now last for, if the inventory numbers are over supplied and oil starts going down i wont buy it on the way down, as the move could eaisly last for a few days. :/



I will be buying the dow though if i can catch it near a low level, cos we down from 7800 to 6700 straight in a few weeks in a constant diagonal down trend,
so there will be a big rally coming very soon with a 300+ points day. :)




And the dow is much much more likely to rally than oil is
 
yea ive looked at the dow chart just now and im very much inclined to buy the dow tomorrow.

I just really really hope it falls or holds overnight, doesnt rise.


Oil is just floating in a mid range level at the moment though so i see no reason to buy it,
especially with the inventory number coming tomorrow and the uncertainty of that.
 
Quote from InvestVision:

I think what you bought is May-June calender spread when checked the price it shows around $1

April-May calender spread is trading at $1.20 . I feel this will rise faster than May-June because in 2 weeks from now (after March 20) this April contract become 'current active one' , if everything goes well this $1.20 can turn to $2 by March 20 th.

I am looking into more details , I will post as I find , I will be buying one of these too.

note: in oil contracts are traded for front month , for example when we say 'April' calender contract the actual quote on screen shows 'MAY 09' contract . so on screen quote for spread shows
MAY 09 short/JUNE 09 long at $1.20 for April-May calender spread
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Yes I meant MAY-JUNE. Just added to it as well. I don't think there is any risk of this going into backwardation unless there is a major short sqeeze like that one back when oil was just trading under $100 last year. I like this stategy but I don't like not using stops.
 
I have attached MAY/JUNE spread chart, here are observations

2/1 to 2/15 : increased from 1.35 to 2.00
2/15 to 3/3 : decreased from 2.00 to 1.10

basically from 2/15 the spread is decreased.

even today morning MAY/JUNE was at 1.20 now reduced to 1.10 , I think this is one sign of current APR contract is anticipating bullish tomorrow (showing on MAY/JUNE spread ) .

I can not believe " MAY short/JUNE long " is trading now at $1.10 , this contract spread will become current in 17 days on 3/20 . At that time I expect this to trade at least $1.75 , we need to have patience to hold till 3/20

Quote from MJUK:

Yes I meant MAY-JUNE. Just added to it as well. I don't think there is any risk of this going into backwardation unless there is a major short sqeeze like that one back when oil was just trading under $100 last year. I like this stategy but I don't like not using stops.
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Quote from spanish89:

ALoha, yea i will be trading it at either £1 or £2 per pip.
(depending on how big each gold pip movement is in % terms).


How can a trade be 'too obvious' though?? :cool: lol

You get into a trade cos you think loads of other traders will also be making that trade and so the market will move in the direction you are all trading.


So the more obvious it is and more traders waiting for it the better it is.. :)
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1 pip = 10c or $1? You better check that out. I know on some places you have to pay £10/$1 move in gold.

I don't get into trades because every other fool is doing that - I do the opposite for that very reason unless there's some logical explanation for the move. I know that level is one every single idiot trader is watching and has had on their charts for the last few months so it's highly likely that it's not going to hold although and could bounce maybe $10 lower. (Note highly likely, it might bounce pip-perfect but I imagine that's a highly watched level)

Either way, good luck and check how much 1 pip is.
 
i think gold has 10pips per 1dollar,
and with gold at 900 a 1%move = 9dollars (90pips)

So £1 per pip seems ok i think.

im looking for this as a longterm trade though with target near or over 1000.
 
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