Anyone gave up trading for a living?

[i960]

And we continue to drift sideways. No buy. No short. Yet.

Or is that too sophisticated for whatever sort of brain you have?

Go look at BRN/COIL and draw lines there. What do you see?

 

[dbphoenix]

Go look at BRN/COIL and draw lines there. What do you see?

 

[i960]

BRN/COIL is Brent Crude on IPE (COIL is the IB symbol). Apologies if you thought I meant something else.

https://www.theice.com/products/219/Brent-Crude-Futures

 

[dbphoenix]

Upload a chart and I'll annotate it for you.

 

[Buy1Sell2]

Then again, we haven't factored in leverage yet, which the shorter timeframe trader can typically afford more of due to smaller stops, which compensates the poorer return on time in absolute terms. That could tip the scale back in favor of the shorter timeframe despite the higher time cost.

Excellent. You have come across an extremely important reality in trading and that is the calculation of position size. With the smaller stops, you can certainly have larger position sizes. Sadly, most traders will not pay any attention to risk management and will blow out accounts multiple times. So, the best bet for most retailers is to have a smaller position size on intraday than outraday, probably using less than 1x margin on intraday. An experienced trader who trades with no emotion and employs tight money management skills can make use of margin intraday.

 

[fxwannaB]

A potential winner can become a loser by giving up to early.

Trading open its doors to those who were meant to be traders. the others give up or get distracted...

 

[halfwaythere]

I know. Probably dyslexic. Or English is not his native language.

Good stuff mate..

Anyone ever blow your account up and reload it by finding a job for a year?

 

[halfwaythere]

Upload a chart and I'll annotate it for you.

Any chart?

http://i58.tinypic.com/nbrntz.jpg

 

[marketsurfer]

What's a "chart annotator"? Something on a submarine??

 

[dbphoenix]

Any chart?

http://i58.tinypic.com/nbrntz.jpg

I haven't characterized this market, but it looks to be mean-reverting. If that's the case, then the probabilities are to the upside.

The chart you posted doesn't require any annotation to see that price is, or was, moving sideways over the past couple of days with an upper limit of 34 plus change. After you posted it, though, price broke out of this range and reached almost 37 before retracing back toward 34, currently drifting sideways at around 34.5. Since price has been moving upward in a stable channel for about six weeks, the probabilities are that price will reach the upper limit, currently 70, but if it gets there at the same pace that it took the last time, from the 10th to the 19th, the upper limit may be at 80 by then (since the channel is diagonal, the upper limit increases daily). If it drops back below 34, get rid of it and try again at 24 (if you know nothing about Auction Market Theory, you may want to just watch it this go-round).