Trading For Those With a 9-5 Job

http://www.forexfactory.com/attachme...1&d=1336700798http://www.forexfactory.com/attachme...1&d=1331307837

I have put together the two charts uploaded by Golfer to show the 'after' and 'before' of the CRB. 9to5ers Commodities have cycles and they trend well. So if you are looking for a trade that is going mainly in one direction (tradable). Right now its a down cycle starting in the grains.

NB: the top chart is the 'after'

Olu

We have breakdown in corn. Analysts are screaming food inflation at the moment. Quietly the grains are tanking. I bet you when they go down a few hundres points and a rally has started the story will change to sell sell sell. Right now all the focus is on the stockmarket and the currencies but there is profit here too.

Olu

Comments on the chart...

Olu

Today I expect some respite from the selling. In saying that some of the european respite is starting to melt. Do not be fooled into trading against the trend. It is better to wait for the exhaustion of the retracement and the reversion back to the true trend.

EurGbp is above .8000 as we speak coming from .7960 area

FTSE100 gapped up on the open but has since filled the gap and is dancing around the lows of the day.

GbpUsd couldnt even muster any significant retracement

NzdUsd was just hammered today. No sign of a retracement at all...

AudUsd back above 1.0000 at the moment but considering the massive falls from 1.0800 this retracement is nothing

In summary Consolidation day today. Wait for weakness and then go for it

Olu

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Olu

Comments on the chart...

Olu

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Olu

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Olu

Gold and Silver Up
Dollar Index Up as well...

Smells of covert intervention...

Silver is rallied hard today. We'll see how far it goes before the trend re-asserts

Olu

Comments on the charts...

Olu

Comments on the chart...

Olu

Only time will tell. But fundamentally nothing has changed so why should the euro suddenly become king (other than short covering). If we continue to rally from here the gap area around 8090 might be a good area to look for shorts

Olu

Beans are starting to gain "mo" to the downside !

I'm deep in the money on my puts and short November futures as well.

Let's just sit back and see where she goes from here...watching for at least $11.00 bucks and maybe alot lower !!


golfer

Hey 9/5'rs and longer term traders,

I received a PM today from a follower and I was alittle taken back.

The follower claimed it was easy to post "after" the fact on trades...he never really did read any of my previous posts...way ahead of the trades I put on...not to mention the trades I discuss with Olu weeks ahead of when I humbly post them.

Any way, let's do this one together and we will all hold hands as we progress down the road.

Let's first find markets that are at extreme highs or lows.

We then put them on our radars and watch what price action happens.

I look for 1-2-3 tops and bottoms with a trend line break...thats all I watch for.

But to plan ahead I load up on options (yes, you'll have to open another darn account)

I do this because I don't when a market will turn, but I know it will sooner than later and my risk is the premium I pay for the option.

I'm getting in on the cheap with a risk exposure that I can manage and I just sit back and wait...sometimes adding some more but if extreme markets reverse their course...let me tell you there is no better trade than an option trade because there is no limit to how high price can move.

So, let's watch November feeder cattle....extreme highs...makings of a 1-2, trend line break on the parabolic move but still in a major uptrend.

The November 150 puts are about $900 bucks + commish and I will be watching and seeing if I can get them cheaper. If I see them around $700/$800 I'm going to load up on them and wait it out.

Let's watch this unfold and we can chart any other markets your interested in.

humble golfer

Hi Golfer

Dont mind that reader and his/her accusations. I think the person has not read the whole thread. Recently I posted a before / after trade idea just to show the idea first and the progress afterwards

By the way I have been looking at the feeder cattle trade as well. I expect a new high therefore your intention to buy the puts cheaper will materialise

Anyway I hope that reader and all the 9-5ers are watching to see the outcome of the feeder cattle trade

I do need to look into getting a futures trading account. I trade with alpari uk using a forex account. I can trade the following commodities via cfds on the forex account soybeans, corn, sugar, crude (brent and WTI), gold, silver, copper, and gas oil hence I tend to limit my analysis and trading to these.

I have a spreadbetting account with etxcapital but the spreads on commodities are so wide that one might not even profit at all on an excellent trade. Saxobank is looking for £10000 for a futures account...

Olu

Comments on the chart...

Olu

How's your pip hunting, hope things are going well.

I have also same weekly chart on this pair with same TLs on my watch list, looks like a nice higher low to ride the down weekly trend, however I would prefer entering on a 1.2800-1.2770 support zone break out and looking to test the ascending weekly TL from 11Jan2011.

All the best

Hi Thanks for visiting the thread and contributing. The pip hunting has been so so. Done very well on the silver and gold. I find that I take profits too early so that is the project change now. Normally I trade the daily timeframe with the weekly as a guide and most times the 4h as an entry. What I notice is that I see a reversal off support on the 4h and I jump out of the trade only to see thew hammer or doji etc negated and price continue on its merry way without me. That is the state of things. Learning every day. Becoming like Golfer more and more every day.

About this trade. Your trade plan is excellent. As you enter after the market has shown its hand. I like it. I have a small short position in play at the moment and if we go down I will add to the position and then around your entry I will add more. I would like to see 2500 broken and me holding all the way there. One step at a time. if 1.3061 is broken I am out...

Olu

Comments on the chart...

Olu

Comments on the chart...

Olu