Reply to: Oil plunge hints at end of commodities boom

[AtW]

You're some kind of trading genius!

He is mostly bull.

HTH

[d000hg]

it makes sense to buy on dips and sell at peaks.

You're some kind of trading genius!

[Jog On]

Cool, the higher timeframes seem more reliable with less noise. I think it is possible to trade these and still work.

Yeah for anyone to stand half a chance in the beginning higher timeframes are a must. And as you say it's a very 9-5 friendly way to build an account. I think if I was in a position to trade full time I'd still use the higher timeframes and only have to work a few hours a week

It's very realistic to expect a steady 5-8% a month from just 2-3 trades on the daily timeframe when you get good and disciplined. With a large account that can be quite a nice lifestyle

I'm finding it tough sticking to only the very best looking and highest probability setups though. With a small account the inclination to overtrade and take excessive risk is very high. But I'm learning the hard way... Fortunately Money management (1-2% risk per trade) and position sizing rules are keeping anything too disastrous from happening!

I'm doing some quite intense trading/business plan, system development and trading psychology training (Van K Tharpe - peak performance course) so soon hopefully taking stupid risks will become a thing of the past.

[ThomasSoerensen]

For what?

Relax, ATW is famous for his economic wisdom, which includes banning everything but investing long for the long term.
Nobody takes notice of him.

[russell]

Thanks. I'm purely technical on higher timeframes at the moment (daily and 4H charts) but I keep an eye on upcoming new announcements that might affect volatility.

I'd like to get more into fundamentals for the bigger picture and use technicals to find good entries, exits and levels to move my stop.

Cool, the higher timeframes seem more reliable with less noise. I think it is possible to trade these and still work.

[Jog On]

Mods ban this dirty spekulant!

For what?

[Jog On]

Nice, do you trade purely technical using charts or news or a mix?

Thanks. I'm purely technical on higher timeframes at the moment (daily and 4H charts) but I keep an eye on upcoming new announcements that might affect volatility.

I'd like to get more into fundamentals for the bigger picture and use technicals to find good entries, exits and levels to move my stop.

[ThomasSoerensen]

Mods ban this dirty spekulant!

[AtW]

I prefer to see them confirmed before jumping in.

NFP was better than forecast so what does that mean?

I don't care TBH - my CAD/CHF long is up 130 pips with the stop at breakeven

Got a nice 1.5R off yesterday's GBP/EUR short as well. Been a good week!

Mods ban this dirty spekulant!

[russell]

I prefer to see them confirmed before jumping in.

NFP was better than forecast so what does that mean?

I don't care TBH - my CAD/CHF long is up 130 pips with the stop at breakeven

Got a nice 1.5R off yesterday's GBP/EUR short as well. Been a good week!

Nice, do you trade purely technical using charts or news or a mix?

[Jog On]

The trick is knowing when those turning points occur before they happen.

I prefer to see them confirmed before jumping in.

NFP was better than forecast so what does that mean?

I don't care TBH - my CAD/CHF long is up 130 pips with the stop at breakeven

Got a nice 1.5R off yesterday's GBP/EUR short as well. Been a good week!

[DimPrawn]

Did you get Merc SL 55 AMG yet?

This time next year Rodders!

[AtW]

Cheap fuel = more plebs on the road in slow "eco" cars.

Did you get Merc SL 55 AMG yet?

[DimPrawn]

That's only when prices drops, when it goes up it takes few days...

Cheap fuel = more plebs on the road in slow "eco" cars.

[AtW]

From memory it takes 5-6 weeks for the market price to be fully reflected in the pump price.

That's only when prices drops, when it goes up it takes few days...