Oil At $138.80, I Sold At $135.67---- Should I Hold Or Cut Loss Now????!!

[gooseman]

i hope you cut that position........just traded $137.98.

 

[rathcoole_exile]

spanish,
i'm curious.
in addition to being the year of your birth, is 89 also your IQ ?
or just the amount of quid you have left in yer pocket ?

 

[Devilicus]

You da man, Spanish!

 

[MrGecko]

He's a prophet!

either that, or a jammy git. You decide.

 

[prop]

he's a prophet who profits !

 

[Mikeyfx]

looks like spanish won twice today oil and football

 

[timsk]

looks like spanish won twice today oil and football

Quite so, although it must be said that one outcome was based on pure luck, while the other was based on consummate skill achieved after years of training and total dedication to becoming the absolute best in the business.
:cheesy:

 

[Devilicus]

Quite so, although it must be said that one outcome was based on pure luck, while the other was based on consummate skill achieved after years of training and total dedication to becoming the absolute best in the business.
:cheesy:

I wouldn't go that far. Spanish89 isn't the absolute best in the business IMO, although he clearly knows what he's doing!

 

[inhope]

Like a fool I bought Brent crude at $137 this afternoon, currently $131 - Can anyone stop me from punching myself hard in the face?

 

[Axis of Evil]

Like a fool I bought Brent crude at $137 this afternoon, currently $131 - Can anyone stop me from punching myself hard in the face?

Maybe you need to punch harder.. knock yourself out!

 

[Mikeyfx]

Quite so, although it must be said that one outcome was based on pure luck, while the other was based on consummate skill achieved after years of training and total dedication to becoming the absolute best in the business.
:cheesy:

i agree TIMSK i thought spain were really lucky tonight

 

[arabianights]

Heh that was a heck of a drop. Made reasonable money on it through out of the money binaries I bought in desperation at my ****ing up three times trying to pick a top on what seemed to me to be a great and obvious short all bloody day.

 

[FXSCALPER2]

Heh that was a heck of a drop. Made reasonable money on it through out of the money binaries I bought in desperation at my ****ing up three times trying to pick a top on what seemed to me to be a great and obvious short all bloody day.

Me too, minus the desperation. I did it purely because you did it though. I couldn't know less about oil and the risk on that binary was bloody brilliant.

 

[arabianights]

In these markets, although I haven't looked at it, there simply must be a few nice opportunities in that space I'm thinking. Those models thrive on smoother market conditions and, as far as I can see, fairly consistent intraday volatility. Don't think we've seen either of these two central pillars for a while

There are some very good opportunities sometimes... take a look when you've nothing on. I've trebled my binary bet account through buying and holding OTM binaries when I have a view (did well on dow close on friday as well), although most of them you lose obviously...

I don't see any opportunities today though, maybe you can see a few in fx?

 

[arabianights]

I'm a wee bit worried I'd get carried away. But increasingly in this market I feel options are the way to play things. So many times trading straight cash you can get the right idea and be stuffed on your timing. It's happening to better traders than me every single day right how.

And if you have a bit of nouse about you you can combine youe binaries portfolio with a cash (i.e. DA or SB one) and job your delta / gamma etc. Especially as there are lots of free pricers available on the web these days. And even without a free pricer it doesn't take a genius to figure out when / how they can lock some P+L in. Only issue I guess is needing two accounts to do so, and having to switch between the two, moving dough across etc.

Probably easier to do this with vanillas which IG offer on short time frames (or at least a simulation i.e. spread bets which expire at max(0,price-strike)). I haven't used this though... have an IG account but never funded it.

So next question I guess is is there a good platform to trade both combined?

Binarybet are owned by IG and I believe IG offer the binaries as part of their platform

Blimey - can't wait to see Spanish get hold of exotics

It'll happen...

 

[Mikeyfx]

hmmm all gone quiet in here :-0

 

[rathcoole_exile]

our Lord and Master, Guru of Enlightenment has abandoned us.
probably gone to lavish his fabulous wealth on more deserving slaves.

Come back Master, we need you !!!!

 

[normbeef]

I reckon he is probably working as a rent boy to pay up his losses by now ... lol

 

[BSD]

Spanish, just chalk it up to experience.

Most traders have probably blown up at leats once in their careers, the trick is to get right back on the pony again after falling off and finally learn what it takes.

I blew up my first account at Oanda, lol, but most definitely did not let that get me down.

I wanted to trade, make a living from trading, and if you really set your mind to something, want sthg absolutely and totally, then it'll work out.

I'd just stop trading or only trade with miniscule amounts that won't hurt and get the basics down pat first by learning about technical analysis which the web is full of, eg at investopedia.com etc, and read these books:

Amazon.com: Reminiscences of a Stock Operator (A Marketplace Book): Books: Edwin Lefèvre,

Amazon.com: Market Wizards: Interviews with Top Traders: Books: Jack D. Schwager, (and the second one)

Amazon.com: Pit Bull: Lessons from Wall Street's Champion Day Trader: Books: Martin Schwartz,

Amazon.com: The Logical Trader: Books: Mark B. Fisher,

Amazon.com: Trader Vic--Methods of a Wall Street Master: Books: Victor Sperandeo,T. Sullivan Brown

Amazon.com: Trading Risk: Enhanced Profitability through Risk Control: Books: Kenneth L. Grant

Amazon.com: High Probability trading: Marcel Link: Books
and

Amazon.com: Trading in the Zone: Master the Market with Confidence, Discipline and a Winning Attitude: Books: Mark Douglas

 

[normbeef]

ok think there's a line and reckon you just might have crossed it there

Yep .. you might be right.... besmurching Spanish's character is really not my business as he is perfectly capible of making himself look like an idiot all by himself...