Quote from spanish89:
Aloha mate..
Im from the UK and so to avoid paying any tax i trade through an sb firm not a broker, as i wouldnt trust a broker with my cash anyways!
So when you use an sb firm you trade at £s per point.
So i sold it at £8 per point, but cos ive ahd to withdraw lots money i only have £5,600 capital left.
And so the furthest i can afford to put my stoploss is 9150, since its about 425points from my entry, and 425 x 8 = £3,400.
(however they need you to have extra incase of slippage over weekend/nights).
I have been trading for many many months now, the capital i have is all the money i have in the world, and i need to earn over £1,300 per month just to avoid being homeless! :/
And so to hav gone from £759 to making over £18,000 profit from that since i started fulltime in june, and specialising in trading of spikes for the pullback,
i extremely rarely get it wrong.
So you shouldnt worry plumber mate, since all the dow is is an elastic band.
The harder you pull it the harder and faster it snaps back!!
Ive put the chart to show on what basis i made trade from the level i did, and the target level.
spanish, dow can easily spike 3.6% and knock you out. 3.6% range is nothing these days. you take way too much risk because you are undercapitalized. you have to find a way to fund your account several fold higher and not to withdraw till it grows several fold.
good luck!