MichaelJohnFX
Senior member
- Messages
- 2,891
- Likes
- 323
11060 gonna be a very tough nut to crack IMHO.
psaTrading
Experienced member
- Messages
- 1,063
- Likes
- 53
Despite the uncertainty and tension that exists in Europe and the Middle East, the situation of the equity markets appears to be positive and after the publication of the October employment report there has been a greater propensity to risk, however this idea results from a survey prepared before the tragic events of Paris. Interestingly, this greater propensity to risk coexists with an increased likelihood of the Fed raising interest rates.
tokyojoe
Established member
- Messages
- 880
- Likes
- 290
bought USDJPY OTM calls @12400 they expire just 1 hour after fomc - if we get an hawkish commentary they could be a nice earner, max risk £64
Yes today is "have a punt day" for me
Every day is "have a punt day" when I'm in the market mate
If I can get away without too many wedgies, then I'm happy
Sometimes I even get to keep my trousers, sometimes even my shirt !
f2calv
Experienced member
- Messages
- 1,318
- Likes
- 278
Expired worthless, -£46 :innocent:
P
postman
FTSE up 300 points in 3 days!!!!
Steady on old girl.
Steady on old girl.
P
postman
Good plan-Force yourself out by peeling off the position.Sometimes hard to do but you just have to to protect yourself.Otherwise its the hope and pray scenario-you have then lost control of your position and the market has taken over.
Yes, It is much easy for me to play in defence with the market, my first need is to protect myself, then I will attack....
MichaelJohnFX
Senior member
- Messages
- 2,891
- Likes
- 323
Mmmm I can see the headlines tomorrow from these ponzu journalists when the market sell off "markets wary over dec rate raise"
P
postman
The US is holding, no doubt a rally into the close.
P
postman
I'm guessing 8pm is the time they hit the afterburn switch.
P
postman
Attachments
P
postman
Well all that nonsense is out of the way, Dow to open down 200 tomorrow?
tokyojoe
Established member
- Messages
- 880
- Likes
- 290
I'm guessing this is what you call a runner day.
Hi Postie, no I call a runner 20 + points at a time, if she gives more then great, but more often I work it in increments. My bias is very very short lived. I am I guess a reluctant scalper that looks for runners over 10 points at a time, risk reward etc
Hope you did ok today
Just been to the Traders London beers at the New moon with F2calv, crackin' evening, well worth the small effort to go. Met some interesting characters.
I am out of the markets until next Monday, so good luck with it mate.
tokyojoe
Established member
- Messages
- 880
- Likes
- 290
Totally agree, my main concern is loss, profit comes as secondary & as a consequence of cutting the nasties
Defensive play is primary, some days I am cut by a thousand knives & feel my ass handed to me
Sometimes I read the market wrong !!
But drawdown was waaaaaaaaaay worse, sitting with a position totally out of my hands, over night & all that jazz..... No no no
I want control over each session, up or down, I'm human, I get it wrong, my skill is knowing as quickly as possible if I'm in a trap, you just get to know !
Joe
When I say defensive I mean I have a plan, I will not follow the market with all his hide and seek, market are much stronger than myself and I will be easily startled just like a possum crossing the road at night having strong artificial lights in his eyes...... I wait for the market to come to me, to where I think market will react.......here the proper money management is a must together with a good understanding of price action.
At times market moves fast, here I will play in attack, market will not come to me...
In my view the only way not get trapped or get trapped the least as possible is to trade in the direction of the least resistance as soon as the weak hand fail.
We all get it wrong but how we react to it will make the difference, when we read it wrongly and are effected by it we need to sit back or stop trading because here emotion will direct our future trading decisions.
In my humble understanding we should not be under too much drawdown, in risk terms we should risk little, if we are wrong so be it, I will be looking after another possibility, if I am right little I take little........
If I get effected by my little loss that is still ok, but I need to understand I need to work on myself instead to fall into a spiral of emotions.
I am a trader and my goal is to be a better trader every day and every error I make is a great opportunity for me to reach my goal.
Fugs
Last edited:
MichaelJohnFX
Senior member
- Messages
- 2,891
- Likes
- 323
I got rinsed once again. -8 points lol I'm done with position trading - doesn't work for me. Still early on in my trading life so no harm in trying and with real money...backtesting on a demo is not the same
f2calv
Experienced member
- Messages
- 1,318
- Likes
- 278
Can you share the trade details, what made your trade different from a normal everyday scalp?
MichaelJohnFX
Senior member
- Messages
- 2,891
- Likes
- 323
Basically I've been getting quite busy at work so didn't have the time to be scalping. So I was trying to develop a strategy that allowed me to work and leave trades running on the side. Position trading, I thought, would allow me to do that. I was much more profitable with identifying areas and trading off them as you've seen in the other thread. As I said, no harm in trying.
