I used to have a couple of online trading friends that traded without stops. They quit posting....don't know what happened to them?
They made billions and they retired, of course! Those damn stop loss orders are preventing me from making my billion for the year . Most annoying.
Http://www.cnn.com/2011/WORLD/africa/03/20/us.mullen.libya/index.html?hpt=T1 US Joint Chiefs of Staff Chairman Adm. Mike Mullen 1/ "I would say the no-fly zone is effectively in place," Mullen told CNN. 2/ The strategy now is to cut off logistical support for Libyan leader Moammar Gadhafi's forces, which are "pretty spread out" from Tripoli to Benghazi, Mullen said. 3/ As part of the no-fly zone, combat aircraft from the United States and its allies will be patrolling over Benghazi at all times, Mullen told CNN. Coalition forces also are looking to jam communications of Gadhafi's forces in what Mullen called the "first phase of a multi-faceted" operation, he said. 4/ While we're leading it now, we're looking to hand off that leadership in the next few days," Mullen said on NBC. On the same show, Democratic Sen. Carl Levin of Michigan, the chairman of the Armed Services Committee, said Britain, France and Arab nations would assume control of the misSion 5/ We would like to see him withdraw his forces across the country back into garrison" and stop attacking his people, Mullen said of Gadhafi. He also called for the Libyan government and military to allow humanitarian operations to help citizens
A few quick comments and clarifications. I mentioned this before. I'm not saying don't swing trade anything ever. At times I think swing trading can be very effective as it keeps you in positions longer. What I am saying is if you do swing trade you'll most likely be more successful in your trade if there's a clearly defined trend and you're trading in the direction of that trend. Or if you're entering at the beginning of a new trend. But if you're trying to enter a counter-trend swing trade based on some ideas you have on what's up and how things will change, you can get yourself into a lot of trouble if you start out going against the prevailing trend, your trade starts out in the red, and you keep averaging in against the trend. What will you do if your ideas are wrong and the trend continues? And when you're opening more positions against it this will be compounding the losses. If it does turn quickly then you'll be okay. But what if it doesn't? Where will you exit then? And the other thing with this is, as I've been saying, I think it's hard to try to swing trade CL now due to all the unusually strong market moving news breaking at times several times a day. Yes the no-fly zone is going into affect, but this seems to be turning into more of a civil war which could go on for a long, long period of time with no results guaranteed. Also the leaders in the other neighboring Arab countries are paying attention to Kadafi's tactics and some have become more emboldened to strike out violently against any protesters. http://articles.latimes.com/2011/mar/18/world/la-fg-mideast-violence-20110319 But this may not stop the protesters as they saw what happened in Egypt and they do want more freedom. Look what is happening in Bahrain, Yemen, Syria, etc.
well.. as i said yesterday...by sunday night there will be a real cease fire. After awhile soldiers realize that they are truly fighting for nothing. They will eventually just stop fighting and "cease-fire" Anyway.. it could be a rumor... who knows.. but hopefully this will push oil down where it belongs below 90 over the next week. Uncertainty is what drives the stock market lower.. uncertainty is what drives oil higher.... there is certain failure for the Ghaddafi forces over the next week.. there might be a civil war.. but serioulsy how is this going to affect oil by much.. obama already mentioned SPR.. saudi will increase output.. we are going to brazil for more oil.. we want to be the biggest customer... anyway, I might be abit early in saying this, but I expect oil to spike and then sell or just sell off completely ..like on friday where we saw 3 bucks in 15 minutes or was it 6 minutes.. Risk has shifted to the oil bulls... at any moment there may be a cease fire...sell oil and buy diamonds at the end of the day. Stock market.. well.. should be up nicely.. japan uncertaintly si becoming certain... middle east is becoming certain.. oil drops and stocks will pop.. buy stocks and sell oil. US dollar.. looking for a rally which will further pressure oil.. we are finally working with other countries on doing our dirty work.. this should look favorable to the world community.. even after writing all this... i know it could all be wrong.. dead wrong.. so tread cautiously. Gold sell off as well... just an uneducated guess though... interesting how the cease fire comes out just haours before the markets open sunday night
Libya bombing called successful; endgame unclear Adm. Mike Mullen says Gadhafi might stay in power in spite of the military assault http://www.msnbc.msn.com/id/42179515/ns/world_news-mideastn_africa/