Is everyone making a Ton of $$$, if not, then WHY?

I normally don't respond to people who have registered today, but I will for others to hopefully learn.

I actually went Long @ 14:04 81.17 with a Stop at 81.08 which was one penny off the Low of 14:02.

PD had just broken the 20 EMA to the UPside after breaking Down the 20 EMA at 12:36.

I went long for other reasons but if I told you I would have to Kill you.:D

Bottom line, I got stopped for a very small loss and went Short at 14:20 and watched the market drop over a buck.

Can I ask why YOU went Long? Looking at a 2 min chart you would have clearly seen we were headed South. I only went long because the risk was 6 cents and we broke thru the 20 EMA.

From 12:00 on, PD kept falling after it hit the 20 EMA, easy $$$. You had about 12 chances to get in for the ride with very little RISK.

This is why I keep telling people to follow these metals markets, oh well.

Just curious.
 
Ok, here's my take.


1. F-Trader has clearly been braggadocios
2. Everyone else has been envious


Now who is at fault?

Let's see, if anything F-Trader has demonstrated that IT IS POSSIBLE to make it happen in the markets.

The others have mostly demonstrated that they haven't yet made it.

Although, I remember a commment made earlier, "when you make it into the endzone, act like you've been there before". Which is a call for humility and I am as humble as the come, but sometimes it's good to get your nose rubbed in it from time-to-time.

So, the man has given away the markets he has profited in ... and his post was basically a call-to-arms, so I say Congrats F-Trader!
 
I appreciate your response. I have bee reading the threads for a while but this was my first post.

I have been watching the 2 minute charts. I went long, mostly, on a 3ma cross over the 13ma, which has been working fairly well for me on GLD and GG.

The trend was clearly down but appeared to be changing. It was my first trade in PD and I set my stop a bit too far. I wish I had shorted after being stopped out - oh well.

What do you typically set your stop at for this stock? Previous bar low apparently, but do you have a max amount?

Thanks for the input
 
Quote from edpolton:

I appreciate your response. I have bee reading the threads for a while but this was my first post.

I have been watching the 2 minute charts. I went long, mostly, on a 3ma cross over the 13ma, which has been working fairly well for me on GLD and GG.

The trend was clearly down but appeared to be changing. It was my first trade in PD and I set my stop a bit too far. I wish I had shorted after being stopped out - oh well.

What do you typically set your stop at for this stock? Previous bar low apparently, but do you have a max amount?

Thanks for the input
More...

Yes, it was a great area to short because you weren't chasing it.

99% of the time my Stop is 1-2 cents above/below the previous 2 min bar.

These metal stocks do not consolidate much, they are either going up or down, unlike other stocks which trade in congestion.

I normally risk $110. Here is my formula. I take the range of the previous bar that I am going to trade from, say the bar had a 12 cent range. I take 100 divide by 12 cents which gives me approx 800 shares for a $96 risk. I allow $110 becuase of slippage, fast market, etc...

If the stock has a 30 cent range then only 300 shares.

If a 5 cent range then I will normally not go more than 1,500 shares. I will add to my position if I see another nice set up, but normally I enter the full trade and exit in full. I do not scale in or out that much. It's usually all or none.
 
I probably wont be posting much this week. My son has lacrosse and I have to drop him off at 9am and pick him up at 11:30, every friggin day.:mad:

My daughter has piano lessons also.:mad:

Totally screws up my trading.

Today is hot in Gold.

Currently in FCX at $56.60 at the 10:20 bar because of what happened off the High of the 10:04 bar. Currently up +.60 :D
 
Also Long NEM off the 10:22 bar at 54.03, currently up +60 also.

Had a sweeeeeeeeeet trade from PD off the 9:44 bar but only had 300 friggin shares, +1.00

Long again off the 10:44 bar, almost got stopped, missed by 3 cents, currrently up +50:D
 
its a great feeling when you're in the zone. nice discipline! love shuttling the kids around - for many years i took the kids to school appx 7 am PST and returned about 7:45-8:00am... had to avoid the open and missed couple of reversal time periods EVERY DAY!
 
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