And finally gold, a market which i never ever will trade again due to how disgustingly it moves!!! I made my initial sell at 1666.8, then added a 2nd short-sells at 1680.6 and a 3rd at 1683.6. Had an initial price target of 1643.2, which i then revised upwards to 1657, then once again revised up to 1669.5 as even with eur/usd tanking with what bernanke was saying weaking euro so increasing dollar strength gold was still refusing to crash, below the 1680s, so i was scared that when the intraday pullback in dollar strength came gold would have surged more. I held positions in this stupid market for about 3hours while it floated sideways doing nothing useful, then out of nowhere it suddenly crashed $7 in about 10seconds in a vertical line! And whilst a huge part of me wanted to not once again do what i did with my aud/usd and oil shorts by cashing them in for under 10% of their potential value, i just wanted to get out of this stupid disgusting market, plus free up capital, so i cashed in all 3 trades at the bottom of a down spike at 1674 for a net profit of just 19ticks! Market bounced up 2-3dollars, floated there for 5mins, but then once again dropped vertically down to the 1657 level, before bouncing and then floating sidewats at around 1663! (So once again i missed out on around 100ticks profit by just a few minutes due to not letting the market hit my preset exit orders)!!! :'( Net profit from this trade: 19ticks
Hi mate, and cheers.. For my core job i work as a bouncer inside a huge nightclub here in London 3-4nights per week. So is a pure-pleasure job as i get paid £10 per hour (cash direct into bank account, with no tax) for hanging around inside a nightclub for 5hours per night perving at around 1,500 sexy girls wearing tiny miniskirts! I do it 3nights per week, sometimes 4, so provides me with around £650 per month. But as i only work 15hours per week i also am entitled to and so do claim full housing benefit and council tax benefit. (Which provides me with £650 per month extra income) So am on a income of £20,000 per year for just workingt 15-16hours per week. Although if i can earn an extra £250-£300 per month from stockmarket it will be a great as can use it to build upon my cash savings pile.
Hi Spanish, I used to follow your first journal, and it really cheered me up when I was bored, although I don't think that was your intention when writing. Never the less, it's good to see you back, no doubt some comical moments ahead! I think you forgot to mention how much you ended up with from the £30K. Was it £7k after the losses? I can't remember... Also, what happened to the police job if you're a benefits bouncer now? Regards Hank
Ive worked-out an extremely important thing though..... Im NOT a swing-trade, and will never ever ever be able to be one due to my pyschological setup!! :/ Even though i base my trade entries off the daily/weekly/monthly chart, its just pointless me setting profit targets of 250-300pips, as in reality i and everyone else knows that i will never actually be willing to take the risk of sitting there waiting while the market slowly moves towards that jumping and joliting along the way! :| And so from now on im going to just accept the fact that im an Opportunist trader not swing trader, and therefore im never ever going to set a profit target of above 80ticks. The majority of my profit targets should and will be 50-60ticks, however those targets should typically be hit within 4-5minutes of me making the trade. (Although i cant help feeling gutted that 5days ago i shorted oil at $99 and aud/usd at 1.0900, oil has now crashed down to $84 (1,500ticks crash) and Aud/Usd is 1.0400 (500pips drop)!!! :'(
yeah, that's the hard part of the game. The psychological side. The patience. I put myself to the test yesterday and shorted the SPX (posted live in the ES journal) and exited (again, posted live in realtime) for +440 ticks for the day! my best daytrade yet. If it works for you though, just stick with it i guess. We're all wired differently
Ok today- I am very interested in buying crude oil at $84.06, with a profit target of $85.19. I think ive already missed this trade though, as it hit 83.62 and has since bounced up approx 150ticks over the last 1hour to 85.20s. Plus all my money is currently tiedup in this stupid Juniper long trade!! However Oil has been oversold way too much too fast, so i would ONLY be considering buying it today and holding it over weekend, as theres extremely little potential downside left now. We have non-farm payrolls out this afternoon, although a hugely bad number seems to already of been priced into the market yesterday, so i persoanlly believe that the market will rally/flatline unless we get an extremely worse than expected number.
And finally heres a chart showing exactly what i think will happen, and why i think it will happen (based on the S&R levels + trend-channels)...
dude, you need to trade this s&p! I've posted my trades realtime in the other thread. Made over 600 pips the last 2 days so far! Never seen anything like it. actually CRASHING!!!