Investments
Feb 23rd 2016, 1:06 pm
#121
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Investments
I'm having fun with GBPUSD at the moment: at £20 a point, it's real whore's drawers action. Trying a strategy of aiming for £20 - 50 profit per trade, with a maximum downside of £300 which is well within the last 2 hour's movement. I appreciate that this is the reverse (and then some) of lightnbitter's approach, with the potential for 10 small wins to be wiped out by one large loss. But the movement -- for one position -- to generate triggering the stop would be exception in terms of historical movements (looking at the chart). And I've been generally placing the trade so that the limit falls within the movement of the current or preceding 5min candlestick. So far so good (on about 15 trades), although I hestiate to say that because I've been in the curren tone for about 10 mins and I'm still in negative territory.
Feb 23rd 2016, 1:13 pm
#122
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Investments
I'm having fun with GBPUSD at the moment: at £20 a point, it's real whore's drawers action. Trying a strategy of aiming for £20 - 50 profit per trade, with a maximum downside of £300 which is well within the last 2 hour's movement. I appreciate that this is the reverse (and then some) of lightnbitter's approach, with the potential for 10 small wins to be wiped out by one large loss. But the movement -- for one position -- to generate triggering the stop would be exception in terms of historical movements (looking at the chart). And I've been generally placing the trade so that the limit falls within the movement of the current or preceding 5min candlestick. So far so good (on about 15 trades), although I hestiate to say that because I've been in the curren tone for about 10 mins and I'm still in negative territory.
Then again, I did go through a shorting Chinese equities stage. That was edgy stuff. Trades would swing between 1000 USD plus and minus in seconds.
Feb 23rd 2016, 1:14 pm
#124
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Investments
My oil shorts are doing well now. 3 contracts open (and now closed).
Feb 23rd 2016, 1:15 pm
#125
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Feb 23rd 2016, 1:20 pm
#126
BE Enthusiast
Joined: Feb 2016
Posts: 364
Re: Investments
I'm having fun with GBPUSD at the moment: at £20 a point, it's real whore's drawers action. Trying a strategy of aiming for £20 - 50 profit per trade, with a maximum downside of £300 which is well within the last 2 hour's movement. I appreciate that this is the reverse (and then some) of lightnbitter's approach, with the potential for 10 small wins to be wiped out by one large loss. But the movement -- for one position -- to generate triggering the stop would be exception in terms of historical movements (looking at the chart). And I've been generally placing the trade so that the limit falls within the movement of the current or preceding 5min candlestick. So far so good (on about 15 trades), although I hestiate to say that because I've been in the curren tone for about 10 mins and I'm still in negative territory.
risk 300 to win 20 is a recipe for sleeping on the corniche
Feb 23rd 2016, 1:28 pm
#127
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Investments
The last 15 minutes are proving that. But I'll take it as a posivite -- demo a/c, and I'm proving to myself various ways of not achieving what I want.
Feb 23rd 2016, 1:32 pm
#128
BE Enthusiast
Joined: Feb 2016
Posts: 364
Re: Investments
dont like averaging but buying again at .65
Feb 23rd 2016, 1:46 pm
#129
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Feb 23rd 2016, 1:49 pm
#130
BE Enthusiast
Joined: Feb 2016
Posts: 364
Re: Investments
Even questioning am i trading differently due to being on here
Your correct, find something that works for you on demo, finesse it, perfect it to the point where you can accept the losses as part of the game. then move into real world
Dont shout about the winnings or hide the losses.
Even a small thing like commenting on here can take you off your game plan...so it seems
Feb 23rd 2016, 2:09 pm
#132
Hit 16's
Joined: Mar 2010
Location: Of all the gin joints, in all the towns, in all the world, she walks into mine
Posts: 13,112
Re: Investments
was not a criticism, merely an observation. myself i am losing money today
Even questioning am i trading differently due to being on here
Your correct, find something that works for you on demo, finesse it, perfect it to the point where you can accept the losses as part of the game. then move into real world
Dont shout about the winnings or hide the losses.
Even a small thing like commenting on here can take you off your game plan...so it seems
Even questioning am i trading differently due to being on here
Your correct, find something that works for you on demo, finesse it, perfect it to the point where you can accept the losses as part of the game. then move into real world
Dont shout about the winnings or hide the losses.
Even a small thing like commenting on here can take you off your game plan...so it seems
Feb 23rd 2016, 2:58 pm
#134
BE Enthusiast
Joined: Feb 2016
Posts: 364
Re: Investments
Wow hands up, that has surprised me.
Done money but live to fight another day at this casino they call a market
Done money but live to fight another day at this casino they call a market
Feb 23rd 2016, 3:03 pm
#135
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: Investments
The Iran oil minister came out and said he won't cut production. That means nor will KSA or Russia as they said "only if others". Hence the 1million a day over supply stays - if not gets bigger.
Last time oil sniffed at 34 it headed to 28. I hate oil as it's too political.
Hopefully it will drive down the FTSE and bring my shorts back into the money.