5% - 10% profit per day trading

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And after cashing in my 2nd dow trade near the highs close on friday evening,
tomorrow i am looking to buy dow (june contract) at 6526 if we can get it too pullback to there before rising.


The dow is very very different to trade to oil, fx pairs, and other indicies even though,
since its not traded by many as a direct instrument on its own,
but is merely a calculation of all the stocks that make it up.

So chart patterns n formations are almost irrelevant on it, as its controlled by the individual stocks, not traders moving the dow itself.

(So ive been using candles for the dow instead,
as they are quite handy as its simply looking at 2colours that show if teh last move was an up or down, and you can easily see how strong or weak the buying/selling was due to the size of the candle).


So will be using candles chart for the dow tomorrow, but normal line chart for all other markets.

However if we can get a dip down to 6526 tomorrow it will be a very clear inverse head n shoulders formation, which will be an extremely bullish sign for dow.



I dont cyrrently have the capital to be able to safely handle a dow trade and an oil trade at the same time though,
So dow will take priority tomorrow as it is near a key buing leve, wheras oil isnt near a key selling level for atleast 2days more i think.

However i would liek oil to rise a little bit tomorrow after i get my dow long in, as the 2 biggest dow companies are oil companies,
so strong oil will mean strong dow. :)



Ive put chart to show where and why i will be buying dow tomorrow.
 

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And im still waiting for the 889 / 867 levels in gold.

Hopefull once the IM unload all the gold as they are trying to do, that will cause a nice low price for me to go long at.


Im not in any rush with gold though.

Am more interested in buying some corn and sugar this week, which i will do but at very light size and just hold them for 6months+ in my igindex account, not my normal EtxCapital one.


And im planning on writing an email to jim rodgers tomorrow, as i have a few specific questions i would like to ask him. :) :cool:
 
Quote from InvestVision:

after averaging to 46.25 , closed for flat
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welldone mate, glad to see you managed to get out without a loss.. :)


What are the next few levels that you are looking for??
 
After looking at the chart (1hour but zoomed out to show last 3months of movement so shows where the really really key chunky S&R levels are),
ive decided that overall im looking for a target of 44.86,
from the next big up move that will come from the buildup to the opec cut & as the dow rises from tis big drop over the last 4weeks that barely affected oil. :)


And i like the look of selling around the 53.86 level within the next few days. :cool:

(Extremely doubt i will sell before 50.89 at the ultimate lowest).
 
Quote from spanish89:

I dont cyrrently have the capital to be able to safely handle a dow trade and an oil trade at the same time though,
So dow will take priority tomorrow as it is near a key buing leve, wheras oil isnt near a key selling level for atleast 2days more i think.

However i would liek oil to rise a little bit tomorrow after i get my dow long in, as the 2 biggest dow companies are oil companies,
so strong oil will mean strong dow. :)

Ive put chart to show where and why i will be buying dow tomorrow.
More...

Hey mate, you might find this US commentary helpful - they have daily + weekend commentary.

http://www.youtube.com/user/inthemoneystocks
 
Quote from spanish89:

welldone mate, glad to see you managed to get out without a loss.. :)


What are the next few levels that you are looking for??
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next short looking at 44.65 , again this is temporary before newyork market open

from today's oil price action i am inferring one thing.
- this OPEC half countries are FOR cut and half are against the cut is all DRAMA. they wanted to do the cut , but wanted to show the world half the members are sympathetic to world economy .
- I think oil market makers know this DRAMA , that is the reason why oil price show this much strength today
- OPEC is trying tirelessly on these cuts for last 4 months, and finally the cuts start showing on the price , why would anybody not wanted go ahead with this last crucial cut that can cement oil price bottom
 
Quote from InvestVision:

next short looking at 44.65 , again this is temporary before newyork market open

from today's oil price action i am inferring one thing.
- this OPEC half countries are FOR cut and half are against the cut is all DRAMA. they wanted to do the cut , but wanted to show the world half the members are sympathetic to world economy .
- I think oil market makers know this DRAMA , that is the reason why oil price show this much strength today
- OPEC is trying tirelessly on these cuts for last 4 months, and finally the cuts start showing on the price , why would anybody not wanted go ahead with this last crucial cut that can cement oil price bottom
More...



Aloha mate, i also havee been looking at the extreme strength in oil over the past week, and havebeen monitoring what opec have been saying throughout the week.


I am sticking by the statement i made last week though regarding opec,
and that is that ''They aren't idiots. They know exactly how the market works in the real world (news being prices in causing spike that gets sold off when that news is confirmed),
and so they know exactly how to counter and manipulate this feature of the markets to their advantage... :cool:

Instead of them again saying to the world ''yep we are gna cut oil on this date, so just take note so you know in-advance'',
they have just kepp very quiet about it and made quite a few statements over the last few weeks, but all worded in such a way that no-one can workout what they are actually saying! lol

(I get live audio access to most of the various opec ministers press statements live as they happen, so i hear the exact words n phrases they are using),
But this time opec have been very clever as they have just mumbled and babbled a load of nonense to confuse everyone and so caused fear n confusion (keeping oil price up and not falling), but without even using their big ammo of delcaring they will cut oil yet.


They have over the last days all teamed up and been giving cross-corresponding statements about the cut.

(Iran saying cut is gna happen/kuwait saying theres no cut),
so this means that they market is confused and too scared to short-sell, and opec now hold all the power.


They are trying to subtly lower and lull the markets defenses by these tactics to make everyone think that a cut wont happen,
but do it in such a way by using confusion as a tool, so keeping the price moderately high,
But so then when they have their meeting they can then come out with the press statement saying ''Actually we changed our mnds and have now all agreed to cut supply again''.

Thus causing a big big spike and upmove, from the already high price... :cool: :)



Extremely clever and well played by them i must say. :cool: :p
 
Bloody hell i jut looked at the clock n its 5.40am uk time and i still not slept. :eek:

Gna go to bed now but only gna be able to nab about 4hours sleep at best,
as i dont want to risk missing be able to buy the dow at 6526 before it rises. :(



Il be ready and waiting for the opportunities when i wakeup in the morning though as im very hungry for some more cash... :cool:

Since i looked and over the last 2weeks ive managed to generate 86% profit from my starting capital, which was extremely seriously scared money.

(It still is since if i lose that i will physically starve to death) :(


So tomorrow will just be another day at the office for me.....
 

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