Not bad for day 1. See the image below. I'm chosing to post my performance so that I am seen by everyone for who I actually am. For now, I continue to trade only in my micro account. I have a mini account as well with a larger balance. Good things: I came very close to achieving my profit goal today. Bad Things: I should have done much, much, much better if I had stuck to my guns. Missed 40 pips on a short on the USDollar that I dumped and breakeven when the bad europe news came out. Got out of gold at 1772 believing that it would drop down to 1760 before it continued its ascent. I was wrong. Never got back in again because I was busy throughout the day with other things. You can see where I have shorted gold and where I intend to go long again. Thanks again everyone for your tips. I know that most of you intend well with your advice.
Thats good, i only have one left, because of a wrong bet i made one day. Betting balls can be painful sometimes..... Well, for the big money in this Gold up move, you should have bought it last week on the daily down spike. but now, you can look for shorter trades the way up, so long the overall move energy is not broken. Just buy somewhere and wait, is stupid.:eek: :eek: :eek:
Gold is now doing a little of that scene from Braveheart: blowing a kiss at 1800, shaking balls, and then showing ass. Of course, what happens after 8am est is what really matters.
I think it would be safe to say that I pulled that one out of my butt. That was a definite stomach test when down $145 at one point today. On a day that gold spent most of the day going up, I shorted it. It finally went my way. Still slightly short of my goal, but I am using only my now $508 micro account. Up $134.34.
I guess I have Mr Berlusconi's to thank for the sudden drop in the Gold price which saved my butt. He resigned. Just learned from FXCM that my little plan to transfer money back and forth from my mini to micro account isn't as easy as I thought. So, I will put only $1500 in the mini and transfer the balance out of the micro into the mini, for a total of $2000. I'll set aside the other $1000. Also, for those of you who are interested in FXCM. The mini account does not limit you to mini lots or greater. You can also trade micro lots if you ask special permission. ... no more upates until transfers complete.
Hey, Cap'n, good thing you quoted Blotto or I'd not have had the chance to see this: "The last person I warned, cl marathon, was not suitable and went on live trading further until he lost what he could lose. No doubt because he was encouraged by that dangerously plausible know nothing NoDoji who told him that he had a "valid technical edge" when his trading was haphazard guesswork. There is no getting away from the fact that she routinely encourages newbies to trade live with this nonsense, to their ultimate financial detriment." CLM has a valid technical edge that, in fact, triggers entries $100 or more per contract ahead of my entry triggers. I spoke with him a few times via Skype. As was clear from his opening post on his journal, he is not a newbie, but rather suffers from the usual psychological issues that plague many traders who have an edge. During our last conversation he had the chance to observe my trading in real time, realized he had a lot more work to do, and decided to quit trading live while he fleshed out his trading plan. I saw right away from his trade journal that he was attempting to trade Brooks-style price action and several of us spend time trading together almost every day in slightly similar styles. I was concerned by the way CLM picked trades and skipped others, the fact he used a fixed stop when often a smaller stop would suffice or a larger one might be necessary, and the fact that he had no understanding of how to let a winner run to a reasonable target. I PM'd him and we ended up connecting in Skype a few times. He traded for a very brief time and lost little. His final journal post was: "I need to get back on the treadmill and put in more miles on the simu until I can execute all my setups without hesitation again. I became very gunshy during the last two weeks, and afraid to pull the trigger on my setups. I have to admit I am not ready yet for live cl trading." The ease with which I put on trades when a setup signaled an entry and the relaxed way I managed the trades in such a volatile instrument, caused him to realize that a well-defined trading plan is necessary, and although he'd defined an edge, he'd not yet addressed a lot of other important details necessary to reach a comfort level and remove emotion from the equation. Blotto, CLM's trades as posted on his journal were haphazard, but not because he doesn't have a solid edge defined. It was because he was missing all the other ingredients of a good plan, followed by the mastery of the mental game that allows you to put it into practice. As for "he was encouraged by that dangerously plausible no nothing NoDoji", I leave it to the ET community to decide if this (my first post to him on his journal) qualifies as encouragement to trade live: