5% - 10% profit per day trading

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ALoha, soz to hear that mate.

I cashed in my Dow trade for 65points profit.. :)

(Although cos it was June contract it had 10points spread!) :(


Ive put a chart to show the move...

(purple is when i entered, red when i cashed in, but target order was set 70points higher than where i cashed in). :(


I knew the spike was all the risk taking trend chasers who held all week finally cashing in...,
but how do you see a spike like that off 100points in under 1minute, and not cash in but instead turn down trade and try waiting for 70points more??

:confused: :eek: :(
 

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GRRR this fucks me off everytime!! :(:(


I did the cautious thing and cashed out after a steep 100oints spike to lock in my profit and so not let it get risked being lost....


Cancelled my target order that id put at 6594! :/



Looked just now and again it was perfect analysis of the target, market spiked up to just a few points above that for the close!! :mad: :(


So please please can someone tell me how do you actually hold trades like these???! :eek: :confused:

Like what pyschology do you have in your mind to just sit there and take such a huge risk of wiating not cashing in, that often wont pay off.. :(
 

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hi spanish mate hope your well? the only way to catch moves like this is that you are never going to catch the whole move all you can do really is buy dow move your stop to break even as quickly as possible then ride the move either close out quick or move the stop loss up as much as you see fit were you think you wont be stopped out and if you are stopped out then it either was a trade that cost you nothing or made you 40 ticks, very few will ever catch the whole move. the thing about this is you have to be very quick moving stops but i think if the market moves to quickly there is not much you can do just cash out as quick as possible, but get to break even as quickly as possible with the dow and use 10 15 20 point stop losses,
also i have found that if you buy 2 points of the dow with a 20 point stop loss and you manage to get a 10 point gain cash in one of the buys for a 20 pound profit then move your stop up 10 points and this will give you more room to watch the move as again your at break even if the dow move back to your stop, as for getting out of the market moves i am coming around to the idea that the stop loss should always take you out of the move that way you are not tempted to cash out to early and if you move it close enough or where you would have cashed out then what have you lost maybe 20 points out a 60 point move and that is not bad
but also i think everyone struggles were to get out and saying oh i should have cashed out, now look were the market is but if you move your stop quick enough then u may have only lost a few points i think this the only way to capitalise of this quick moves
hope this helps
 
Oil rises on weak dollar
Wire services

Oil settled more than 4% higher on today as expectations producer group Opec could reduce output again outweighed weak US economic data.


US crude settled at $45.52 a barrel, up $1.91.

London Brent crude settled at $44.85, up $1.21. It was the first time since 11 December that NYMEX crude has gained a premium over Brent at the settlement.

"The market gains today might indicate that people are looking forward to that fact there may be a supply cut ahead," said Gene McGillian, analyst for Tradition Energy in Stamford, Connecticut.

Opec member Venezuela said it would propose another output cut if needed as the cartel prepares to meet on 15 March, echoing comments from some other members.

Abdullah al-Badri, Opec's secretary general, said that current oil prices were creating the risk of a future supply shortfall due to low investment in the industry, even if they were providing a balm for the troubled world economy.

The group has already agreed to cut production by 4.2 million barrels per day since September, and a Reuters survey found that members have met 81% of their output reductions as of last month.

Oil prices also got a boost as the dollar dipped against the euro on news of sharp US employment cuts last month. Weakness in the US currency can lift investor demand for oil and other dollar-priced commodities.

Optimism from top Chinese officials that their economy is on its way to recovery also lent strength to crude values. But dismal economic news limited oil price gains.

The US shed 651,000 jobs in February and sharply revised past data to reveal the deepest job losses in 60 years, unwelcome news following warnings from Europe that the continent faced an unprecedented crisis.

Oil has traded in a band from around $33 to $50 since mid-December, pressured by slumping demand due to the economic downturn.
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Looking at the chart it seems we may retest the $50 upper range.

Oils rising trend is suprising me considering this absolutely appauling economic news that has come out over the last couple of weeks. However, OPEC's cuts must have taken the spare capacity out of the market. If the dollar retraces following it's recent rally we may see a push over the $50 mark.
 
Quote from pocrel:

hi spanish mate hope your well? the only way to catch moves like this is that you are never going to catch the whole move all you can do really is buy dow move your stop to break even as quickly as possible then ride the move either close out quick or move the stop loss up as much as you see fit were you think you wont be stopped out and if you are stopped out then it either was a trade that cost you nothing or made you 40 ticks, very few will ever catch the whole move. the thing about this is you have to be very quick moving stops but i think if the market moves to quickly there is not much you can do just cash out as quick as possible, but get to break even as quickly as possible with the dow and use 10 15 20 point stop losses,
also i have found that if you buy 2 points of the dow with a 20 point stop loss and you manage to get a 10 point gain cash in one of the buys for a 20 pound profit then move your stop up 10 points and this will give you more room to watch the move as again your at break even if the dow move back to your stop, as for getting out of the market moves i am coming around to the idea that the stop loss should always take you out of the move that way you are not tempted to cash out to early and if you move it close enough or where you would have cashed out then what have you lost maybe 20 points out a 60 point move and that is not bad
but also i think everyone struggles were to get out and saying oh i should have cashed out, now look were the market is but if you move your stop quick enough then u may have only lost a few points i think this the only way to capitalise of this quick moves
hope this helps
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Aloha mate, how was your holiday? :cool:

Yea im doing reasonably well, made 180ticks profit over last week, from a starting capital worth just 800ticks.
And had made 300ticks profit from my starting capital of 605,
although i didnt make them directly through a trade. :)

But still its not bad, nearly doubling my capital in 2weeks.

(I need to make minimum 400per month to pay for my food n bills, . If i lose this money i would die as i would have no money for food and no way of making money for food).

So it is extremely scared money, since i am literally TRADING TO STAY ALIVE. :eek: :(


And thanks for your tips.. :)

I had moved stoploss to locking in about 5-10points profit, but the minimum stoploss i am allowed to use for dow june contract is 40points.
(And theres 10points spread, so 5 on the exit so it would really only be 35points stoploss, but you would lose the equivalent of 40 if you get stopped out).


So even though i wanted to lock-in profit at the level i cashed in at, the best stoploss i could have done was a 40points 1 there. :(


It just annoys me cos trend chasers that move the market always catch these moves by taking the gamble,
since when they trade for banks n hedge funds they dont care about how much they make or lose as they get salary no matter what! :mad:


Ive decided that i am going to start doing 'double trend trades' again off big moves, liek i used to do. :)


(The are when i wait and watch for a few days as oil rises 15 t 20% straight,
i do my standard sell at the to reversal formation and take 80 t 90ticks profit (2%),
but now instead of just then ignoring the market ''until it either manages to rise up that 2% and make new highs/fall down about 10%+ before i then look for buying opportunities'',
i am going to cash in my 1st trade for that 80-90ticks profit,
let market pullback up bout 40tics,
but the SELL AGAIN there, with a target of about 80ticks again. :)
 
Aloha mate, i hope that trade works out for you.. :)

Can i ask what was your analysis for that sell at this time though please??


Since after that incredible oil strength we saw last week it is quite clear (90% likeliness) that the lowest price we were going to see for oil, 32.86, has now been put in. :)

And even though oil has risen quite alot straight over the last week, it did have 2 pullback, so not especially oversold.

+With the opec cut coming in 10days, it is very likely that we will get atleast 1big umove this week to price it in...,
so i would be too scared to sell it at this level.



Ive put a chart to show the levels that i am going to be wathcing this week to sell oil at.
 

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