FTSE 100 Intraday - December

[bigboy]

My trade was based on a continuation of the rally based on the fact that the dow stabalized after mondays rally. The dax was up big and the ftse looked like it needed to catch up. I did not take the risk on the ism no. cos the dow was already at year high and coverd my long with a short on the dax to hedge. took profit on dax too.

 

[bonsai]

ibid

 

[Hooya]

you bid at what price

 

[bonsai]

lol

3 spades ?

 

[Hooya]

this is nearly sending me to sleep!

 

[bonsai]

oh god, don't fall asleep.

you'll only wake up with more questions !

 

[mully]

Hooya,
They say patience is a virtue.
In trading it is essential. As Jim Rogers said "I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime."

 

[mully]

or to quote Jesse Livermore
"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."

 

[Hooya]

Bonsai LOL,

Mully, it is a virtue but still drives me nuts doing "nothing in the meantime"..

 

[bonsai]

uh oh !

somethings up ?

 

[mully]

Druckenmiller said the most significant lesson he learnt from Soros is not whether you're right or wrong that's important, but how much money you make when you are right and how much you lose when you are wrong. ie when you have tremendous conviction on a trade, you have to go for the jugular.

I do not see great conviction in markets currently. Therefore, no real need to play. Preservation of capital is paramount to seize the real opportunities when they arise.

 

[IDI AMIN DADA]

Decision time on the Dow,so boredom cure approaches.

 

[Hooya]

Im not playing either but still bored

BTW didnt Livermore die broke?

 

[mully]

yes because he broke his own rule of being a compulsive trader.

 

[Hooya]

Bonsai what's up?

 

[bonsai]

dont know, but something nasty in the coal shed.

waiting for 4.35 ?

you will have noticed we did not make a lower low ?

 

[mully]

Coal?

 

[Hooya]

Mully, dont know if I would trust a guy who finished trading with less than he started. People say he knew what he was talking about but I cant talk all day about Greseham Duck breast with orange and ginger jus but I aint no Raymond Blanc

 

[Hooya]

coal miner?

 

[mully]

Hooya, come to think of it, as we are approaching tea-time, any culinary suggestions?