https://en.m.wikipedia.org/wiki/T+3 "In financial markets T+3 is a shorthand for trade date plus three days indicating when securities transactions must be settled. T+3 means that when a security is purchased, payment and the security's certificate must change hands no later than three business days after the trade is executed. The first day of the three-day settlement cycle starts on the business day following the day that a security was purchased or sold. For example, if a stock is purchased on Friday at any time during the day, Saturday and Sunday are not considered business days, so the three-day clock doesn't start running until Monday. A payment or check must arrive at the broker's office by the close of business on Wednesday." This morning (Monday) money from Thursday's trades are now cleared for further trading. So this eventuated as T+1. That's pretty good time I think. Gold looking like it might be a buy again, but will await for a bit more proof. ASX gold index XGD is up 1% atm, has been up since open and holding, but I'm not one to rush. (USD Gold price down) This is probably why I prefer a longer trading system than intraday. Gives me time to react, my brain is not super fast, I tend to be slower, methodical, organised, line up all the ducks rather than quick fire type person. My trade taught me, better slower and careful rather than rushing. To fix a stuff-up can take three or four times longer as from just getting it right first time.
Buying gold again on open this morning, 7 positions. EVN, NCM, NST, RRL, RSG, SAR, SBM Same positions as last time
Fully in on three trading accounts. NCM & SBM leapt away a tad too hard on open, chased them with market order 2 hours prior to mkt close but only on acc#1 &2. Acc#3 we went in on open all at market orders. ASX gold index climbed steadily all day, finishing up 3.4% from yesterday's close. All stocks bought today showing profits. This time however we have hit all positions harder in terms of $ size. Not due to confidence, but due to compounding and because a breakout to another high very close by.
Today Thursday, still long, this being the 3rd day of this leg. Previously had been flat 2-1/2 trading days. Had we remained and not exited on the 30th March we would be earning a greater profit. So why the exit on 30th March you may ask? That's how it goes at times. Gold I have found is a fickle beast, quite volatile. The best I can do is trade what I see now, not what I believe long term. I do not trade with either a profit target or stoploss, I trade what is in front of me at the present time, so long as I don't spot danger I remain in the positions. My positions are equities but I trade from the signals of the index. That is, go long on every quality stock on the ASX gold index simultaneously and exit simultaneously going from the index signals. Last couple of days have been hairy, intraday volatility is about, but the last thing I want is to be shaken out of my positions like a seemingly weak hand. As of now we have the following returns for this short run to date this week.... Acc#1 +$310 Acc#2 +$9,931 Acc#3 +$22,272, unrealised profit total $32,513 Will update again on Friday's close if nothing drastic happens in the meantime.
Have bailed out of gold on open - taken the money off the table and run. Balance on exits; Acc#1 $60, Acc#2 $7,828, Acc#3 $10,143 Total profit this run (just over 3 trading days) $18,031 As you will notice only $60.00 profit on Acc#1, this as brokerage gobbling up so much on this small account. Acc#1 is just a small cash account sitting on the side which I figure may as well do something other than sitting idle in cash. This concludes this journal for the meantime. I'm buying and selling continually, I'm not particularly enamoured running a journal, kinda feel it can jinx my trading, but as I started this in Surf's journal, thought to finish it off and prove to the myriad of naysayers on ET it is possible to without too much difficulty make money trading.
There was no inkling anywhere I could see via chart price action of the imminent launch of 59 Tomahawk missiles hurled into Syria. My exits were about 2 hours ahead of that. Had I been lucky, I would have still exited Friday but made a killing (excuse the pun). Them's the breaks.
I figure its best to reply to you in your own journal rather than surf's thread. Please explain where the cheap shot is when what I am saying is that your journal doesn't have clear entries and exits marked? You seem to update us down to the last dollar how much you're up, but you cannot produce a single entry and exit for any of your positions. It matters to me not one bit, but you surely cannot take any credit for superior trading.
READ..THE..JOURNAL.. "I do not trade with either a profit target or stoploss, I trade what is in front of me at the present time, so long as I don't spot danger I remain in the positions. My positions are equities but I trade from the signals of the index. That is, go long on every quality stock on the ASX gold index simultaneously and exit simultaneously going from the index signals." "Buying gold again on open this morning, 7 positions. EVN, NCM, NST, RRL, RSG, SAR, SBM Same positions as last time" I'm not doing the work for you, do it yourself. Look at the time stamps on the posts, look at the indexes, look at the stocks (ASX) How's the timing? Whether you believe my journal or not is immaterial, but it seems on ET all profitable traders are asked to prove validity to the incompetent, it's actually best not to create a journal as there is time and effort required for little to zero reward. Hence the reason after all these years on ET I've never created a journal due to this reason. My bad this time for getting sucked in to Surf's whirlpool of nonsense where he places diabolical trades, makes outlandish statements, and claims that no one can prove TA works, but his system and his book are to be believed and relied on. Thats the end of my education lesson.
...and keeping everything in context, this is the sum amount of your intelligent contribution on the Surf Report...
How do we separate surf's outlandish claims from your own? How about this quote above? For such an experienced trader, you're still saying a trade taught you something? What's even worse is that you're saying one trade taught you something. Any seasoned veteran will know one trade doesn't mean anything. One trade cannot drastically alter any trading plan you might have. There is nothing to learn from the outcome of one trade because if you try, wouldn't your head be spinning constantly? Is this what you're learning, to chase? Hey... if it works for you, that's fine, but one day a trade will teach you to chase, and next day you'd be saying don't chase. Where is the consistency?