demontaz
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We've, now, broken through the resistance pattern prior to this morning's high. Does that tell us anything? There could be some heavy going, now, or it might slice through all the resistance, or drop back.
Reading the above, I'm not a very good forcaster, am I? I might get a job on a Sunday column.
Split
Reading the above, I'm not a very good forcaster, am I? I might get a job on a Sunday column.Split
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demontaz
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ouch
SHORT just got nailed so its a -10 this time
Also closed British Energy for a 1.4 profit and opened new LONG @ 574.08
* new LONG on FTSE @ 6526.5 , I seem to be getting the ole whippy action here but rules are rules and I must follow to prevail in the end
SHORT just got nailed so its a -10 this time
Also closed British Energy for a 1.4 profit and opened new LONG @ 574.08
* new LONG on FTSE @ 6526.5 , I seem to be getting the ole whippy action here but rules are rules and I must follow to prevail in the end
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What a topsy turvy day it's been.
Up 50, falls back 10, gets all that back and a little more, now falling back but for how long who knows.
Get youselves an hourly chart over the last month and look how erratic it's been.
Tried to post one here, will try later, currently the upload keeps failing.
Stephen
Up 50, falls back 10, gets all that back and a little more, now falling back but for how long who knows.
Get youselves an hourly chart over the last month and look how erratic it's been.
Tried to post one here, will try later, currently the upload keeps failing.
Stephen
demontaz
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Well, that LONG trade was closed at breakeven so it's cool,
My British Energy, well what a beauty its has been today. The LONG was stopped for a -2 but I reveresed and it tanked :cheesy: Had the SHORT @ 570.43 and stopped out for +10
So all in all a good day +18 which includes that horendous -10 spike stop...
Trying a sneaky SHORT on Amvescap (FTSE 100) just want to see if my TA works on this share as well
Thanks
Without wishing to sound patronising,as I certainly don't have all the answers, there is a valuable lesson in there.
Taking your loss when stopped and still having a profitable day overall shows that stops are your friend!
It's so easy when in that trade not to want to take the loss but you need to keep telling yourselves stops will get you where you want to go in the end.
Take your loss and move on is probably the greatest habit you can form in trading.
Only not doing this once can wipe out years of hard work!
Stephen McCreedy
Taking your loss when stopped and still having a profitable day overall shows that stops are your friend!
It's so easy when in that trade not to want to take the loss but you need to keep telling yourselves stops will get you where you want to go in the end.
Take your loss and move on is probably the greatest habit you can form in trading.
Only not doing this once can wipe out years of hard work!
Stephen McCreedy
demontaz
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Stops
Thanks Stephen,
The stops definitely saved my bacon today on some of my trades.
I would be so nervous without a stop, I frequently lose connection to Finspreads platform (who knows why) but all I need is a platform crash and can't login straightaway again (another issue I seem to have) and the price to fly off the handle and wipe out a whole days profit or possibly even weeks.
So the trend is your friend and stops are their annoying sister, always tagging along
Thanks Stephen,
The stops definitely saved my bacon today on some of my trades.
I would be so nervous without a stop, I frequently lose connection to Finspreads platform (who knows why) but all I need is a platform crash and can't login straightaway again (another issue I seem to have) and the price to fly off the handle and wipe out a whole days profit or possibly even weeks.
So the trend is your friend and stops are their annoying sister, always tagging along
This posting at the times of trading is a bit of a dead loss. Sometimes it is just to active to do that, so I am stopping. Suffice to say that I just lost 12 points on a short trade. Oscar's right, by the way. Did anyone read that series of posts before Easter? It is better to put the stop in before the open. I can't do that with spreadbetting, though.
I think I'm talking to myself, here, this morning! In any case, I'm on a hiding to nowhere in trying to get it right. 25 points down on 5 trades. So, I'm off until Tuesday while I'm still ahead.
If anyone comes in---Good trading--- but I think I'm alone
Split
If anyone comes in---Good trading--- but I think I'm alone
Split
