Trade or not today!!!

alexa

alexa

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Si difficult with all the news coming out today. So tempted to think it is a good day to finally make some money, but the logic tells me this is a whipsaw day and better not to trade.

Or perhaps straddle the regular news and leave bailout alone.
Any thoughts?
 
I tend to agree - the overall trend is down but the news (or lack of it) could provoke a violent reaction up or down. Thursday was a key reversal day, suggesting go short, so I have put in a sell order, but well below yesterday's low so that only a real move will trigger it. But as we anticipate good news from the US I have a buy order in much higher up the chart as the other side of the straddle.
 
alexa said:
Si difficult with all the news coming out today. So tempted to think it is a good day to finally make some money, but the logic tells me this is a whipsaw day and better not to trade.

Or perhaps straddle the regular news and leave bailout alone.
Any thoughts?
Click to expand...

You are not ready to trade at all based on this logic.
 
I am just discussing the market thoughts. I trade for living since 2002, but this is a special situation and just wondered what people are thinking. :) :)

"New_trader" this was a hostile comment by you and not a constructive one. IMHO
 
There's gonna be more slippage than a drunk trader wandering over an icey pond.

And we don't know when it's coming out so even if you trade the normal news, you could be bummed by your broker.
 
alexa said:
I am just discussing the market thoughts. I trade for living since 2002, but this is a special situation and just wondered what people are thinking. :) :)
Click to expand...

From what you wrote I find this impossible to believe. What you wrote on your trading profile is much more believable:

Trading Profile
Trading Experience
No experience
Trading Work Status
Spare-Time

So, which is the truth?

alexa said:
"New_trader" this was a hostile comment by you and not a constructive one. IMHO
Click to expand...

Too bad you don't find it constructive. I'm sure others will, in time.... You might too..if you don't go broke first.
 
gamma said:
By now 10.00 am you should have finished trading.
Anyone waiting to trade NFP as a reatail trader is asking for trouble.
Click to expand...

Anyone who "trades the news" when it is released is asking for trouble. The market has already told us (me at least) what it proposes to do today. It told me yesterday. Now it's just a matter of seeing if my figuring is correct.
 
alexa said:
I am just discussing the market thoughts. I trade for living since 2002, but this is a special situation and just wondered what people are thinking. :) :)

"New_trader" this was a hostile comment by you and not a constructive one. IMHO
Click to expand...



Alexa, he is not hostile, he is a touch too honest :LOL:

Risk reward is always KEY, so you should decide, depending on your PERSONAL style, timeframe, risk profile a.s.o.

The key is: WHATEVER happens, you must be able to strike back ;)
 
Bladerunner said:
Hi NT

You post some good posts NT,

but.................


Don"t you only trade part time playing for odd ticks on the S & P, your words not mine a bit back. If your edge was so good

why not trade it more and go full time ?

many don"t fill in their profile, I would have thought the best can not even be bothered with any of this Sh..t at all !

Not having a go, but why always the aggression ? its really not needed to get your point across

today

pays your money and takes your chance trade or not trade, right wrong is down to the individuals method/timeframes and their choice alone, no right or wrong as long as its in their plan and they are not having some mad punt on fast bars. Even then if they no its a punt ..........its up to them.

Not traded myself, I consider risk of announcement at wrong time HIGH

just after jobs or before ? or next week and let it tank a bit more or a good old announcement to tell you when the announcement is

:cheers:

not :shuriken: NT

good weekend all :clover:


Andy
Click to expand...

Andy,

I'm sure you will get many reps for your post. I can explain, in great detail, but I'm sure it will be missed, ignored or criticised by at least 99% of the people in this forum. Everybody or at least most people are complaining about volatility in this current market, whereas I am not. September was (actually it was more profitable because I increased my trading unit) as profitable as August, July, June...

I am increasing my trading unit as my capital grows. I traded 2 ES contracts throughout September and will soon be trading 3 ES contracts. I am trading so consistently profitable that I am increasing my trading unit at the rate of around 1 ES contract per month (subsidised by my full-time job). I am confident that I will be able to do this as a full time profession when I am trading 10 ES contracts. I expect this answers your question satisfactorily.

I said before, once, long ago. I don’t know how to make my posts come across as polite or non-hostile. You complain, people complain, my brother, sister, mum..etc...all complain about the way I say things...I dunno...:confused:
 
Nice afternoon. Had to move my orders down, the long to be hit and the short to be not hit, but got in long just after 3 and had a nice run up from there. Have a good weekend.
 
For what it's worth I decided yesterday not to come in to work today but instead to sit around in front of the tv/practicing onanism/cleaning and washing up.

I am convinced this was the right thing to do as today was obviously going to have very limited liquidity and exaggerated moves... Furthermore there was a real chance of crazy rumours coming out about the summit at the weekend as well as this senate vote. And it would have been suicide to end up with a position over the weekend.

Even trading the openings could have been risky due to strange positions being taken on or liquidated by RM.

Shame I did really because I think I'd have made good money... Just sitting here now telling myself my primary aim is to avoid crippling losses doesn't make me feel much better. Never did any cleaning either...
 
I did exactly the same thing for exactly those reasons... got in on the safe haven bids yesterday and expected all markets to difficult to trade today. Came to regret it, there looks to have been some excellent opportunities that I missed - particularly in the morning... :mad:

(however, I didn't sit around all day, I went for a boozy lunch and now feel rough as a badgers ar$e.)
 
I'm glad I stayed out. I could have made maybe 50 pips but it could have been painful. Not worth the risk. Instead, my biceps, forearms, elbows and fingers hurt. Perhaps financial pain is easier. :confused:





Mind you, I chatted to a couple of hotties 15 years my junior (still legal, I'm that old) that I just wouldn't have met if I'd stayed locked in my trading cupboard... :whistling
 
So you're an old boy, you met some nubile young things, and now your forearm aches.

Sounds like arabian isn't the only one catching up on some onanism.
 
Well done Alexa. A good trading rule heard often is 'Trade what you see, not what you thnk'. After yesterday's discussions here we could extend this to '.... and not what anyone else thinks either'.
 
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