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Averaging when already In the RED....

  • #61
  • Apr 28, 2009 1:00pm Apr 28, 2009 1:00pm
yes, haha - round in circles we go.

regards
daytrading
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  • #62
  • Apr 28, 2009 2:41pm Apr 28, 2009 2:41pm
Leon, you're looking at the last sale price, not the current market price.

The last sale price means there must be a trade taken place at that price. The current market price is the bid/ask. That can change without trading.

When you come in Sunday evening looking at the hundred point gap, that gap represents a consensus of the dealer community where the market should be giving what happened over the weekend. They don't sit down sunday evening and look at the last sale price on friday afternoon, and say I'm gonna offer you this because that's the LAST sale price. They're not going to make the same price because the demand/supply is now different from last friday.
Take a report.
  • #63
  • Apr 29, 2009 4:51am Apr 29, 2009 4:51am
Hi Leon,

How is your $/Y doing?

I have reduced the total position by one unit, running the remaining 3 in profit.

regards
daytrading
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  • #64
  • Apr 29, 2009 9:41am Apr 29, 2009 9:41am
Quoting daytrading
Hi Leon,

How is your $/Y doing?

I have reduced the total position by one unit, running the remaining 3 in profit.

regards
daytrading
The UJ trade wasnt born with the intent to carry on for very long....


Just need to hit 90% now and Ill be ready to go live.
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Living the adventure in my head.
  • #65
  • Apr 29, 2009 11:12am Apr 29, 2009 11:12am
Good luck with it Leon -

I see you like the Kings of Leon; I have been to see them a few times live when they first started out.

regards
daytrading
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  • #66
  • Apr 29, 2009 11:27am Apr 29, 2009 11:27am
Quoting daytrading
Good luck with it Leon -

I see you like the Kings of Leon; I have been to see them a few times live when they first started out.

regards
daytrading

Thanks.

I like alot of different music, would be great to watch kings of leon live. Ive only ever been to two Concerts, Greenday and the Fugee's. Greenday were way too heavy for me live though.

Leon
Living the adventure in my head.
  • #67
  • Apr 29, 2009 11:30am Apr 29, 2009 11:30am
yep, one of my daughters likes greenday...I am more a simple minds fan...they have been around for 30 years now and I still remember the early days.

regards
daytrading
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  • #68
  • Apr 29, 2009 1:21pm Apr 29, 2009 1:21pm
Still long $/Y after FOMC with close trail.

regards
daytrading
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  • #69
  • Apr 29, 2009 1:25pm Apr 29, 2009 1:25pm
Quoting daytrading
Still long $/Y after FOMC with close trail.

regards
daytrading
DT, man, your a machine, lol.

Were you taught how to trade or did you put together your own trading outlook while working in the industry?

Leon
Living the adventure in my head.
  • #70
  • Apr 29, 2009 1:28pm Apr 29, 2009 1:28pm
All positions closed with trailing stop at 97.71 and total profit of 2.3% for 2 days work.

regards
daytrading
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  • #71
  • Apr 29, 2009 1:30pm Apr 29, 2009 1:30pm
Quoting daytrading
All positions closed with trailing stop at 97.71 and total profit of 2.3% for 2 days work.

regards
daytrading
Show-off. Haha.

Very nice.

Leon
Living the adventure in my head.
  • #72
  • Apr 29, 2009 1:31pm Apr 29, 2009 1:31pm
Quoting Leonlorenzo
DT, man, your a machine, lol.

Were you taught how to trade or did you put together your own trading outlook while working in the industry?

Leon
Hi Leon,

I am a self-taught trader. Along the way, I have met some extraordinary traders though.

regards
daytrading
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  • #73
  • Apr 29, 2009 1:44pm Apr 29, 2009 1:44pm
Quoting Leonlorenzo
Show-off. Haha.

Very nice.

Leon
I have to say that it is not usually my habit to display either my trades or the way I conduct them. I have felt for some time now that people have to take what one says in here at face value and undoubtedly questions arise at some point about a members genuinity.

To counteract the possibility of being called phony and to reassure newer traders that what comes across is real, I have chosen your thread to put a few trades on display - if you don't mind of course.

I also thought that your interest in improving your own skills might benefit from it - although I think we are somewhat beyond answering your initial question of the thread.

regards
daytrading
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  • #74
  • Apr 29, 2009 1:54pm Apr 29, 2009 1:54pm
Quoting daytrading
I have to say that it is not usually my habit to display either my trades or the way I conduct them. I have felt for some time now that people have to take what one says in here at face value and undoubtedly questions arise at some point about a members genuinity.

To counteract the possibility of being called phony and to reassure newer traders that what comes across is real, I have chosen your thread to put a few trades on display - if you don't mind of course.

I also thought that your interest in improving your own skills might benefit from...
I think you already know that I dont mind In the slightest, and Im very happy to see whatever your willing to show.

I think the problem usually arises (and rightly so) when a new member joins and spends 12 hours a day advertising themself on the forum and trying to gain followers using very vague indicator systems. One always has to ask, what is the motive here that is worth all the posters effort.
Living the adventure in my head.
  • #75
  • Apr 29, 2009 1:56pm Apr 29, 2009 1:56pm
Quoting Leonlorenzo
I think you already know that I dont mind In the slightest, and Im very happy to see whatever your willing to show.

I think the problem usually arises (and rightly so) when a new member joins and spends 12 hours a day advertising themself on the forum and trying to gain followers using very vague indicator systems. One always has to ask, what is the motive here that is worth all the posters effort.
Very true, Leon -

regards
daytrading
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  • #76
  • Apr 30, 2009 12:18am Apr 30, 2009 12:18am
Hi DT,

Ive been playing around on demo splitting up my possitions In a similar way you have shown In this thread, but after looking back at your Long UJ possitions I have a question. Was the trade made based on only technical factors?
Living the adventure in my head.
  • #77
  • Apr 30, 2009 4:29am Apr 30, 2009 4:29am
Im looking to go short GU around the 1.5 level, I will average (up & down, lol) and post the trade regardless of how It goes If price gets there.

Leon
Living the adventure in my head.
  • #78
  • Apr 30, 2009 4:31am Apr 30, 2009 4:31am
Quoting Leonlorenzo
Hi DT,

Ive been playing around on demo splitting up my possitions In a similar way you have shown In this thread, but after looking back at your Long UJ possitions I have a question. Was the trade made based on only technical factors?
Hi Leon,

I don't care much about fundamentals except when expectations come into play for interest rates. My positions are usually build early in the week and should they last until the end of the week, NFP numbers have the potential to either take a trade which is profitable out on trailing stops or with luck send the P&L into the stratosphere.

As I mention in my profile, I either follow trends or trade the break-outs. If I follow a trend, I look whether the price goes up if I want to be long and conversely if I want to be short, I'll be looking for the price to move down. Trading this way you have to bring flexibility to the table - but time is in your favour since larger trends often take a bit of time to materialize (a bit like when the Titanic was trying to avoid the collision with the iceberg - the brakes so to speak don't work very fast in water).

To answer your question: if you class the visual aspect of looking at a chart and deciding on the basis of the graph's direction which position to take as technical, then yes, it was a decision of technical nature.

regards
daytrading
Enter Signature
  • #79
  • Apr 30, 2009 4:52am Apr 30, 2009 4:52am
Quoting daytrading
Hi Leon,

I don't care much about fundamentals except when expectations come into play for interest rates. My positions are usually build early in the week and should they last until the end of the week, NFP numbers have the potential to either take a trade which is profitable out on trailing stops or with luck send the P&L into the stratosphere.

As I mention in my profile, I either follow trends or trade the break-outs. If I follow a trend, I look whether the price goes up if I want to be long and conversely if I want to be short, I'll be looking...
Thanks for the clarification DT.

Another personal question, After how long around the markets did you start to consider yourself a competent trader?
Living the adventure in my head.
  • #80
  • Apr 30, 2009 5:09am Apr 30, 2009 5:09am
Quoting Leonlorenzo
Thanks for the clarification DT.

Another personal question, After how long around the markets did you start to consider yourself a competent trader?
When I started respecting the risk involved and when I realized the simplicity of the bigger picture.

regards
daytrading
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