35854 replies to this topic

[OceanWalz]

Redeemer, on 15 Oct 2013 - 07:34 AM, said:

why we're going up and up...

anyone brave enough to short right now- or think we can chase even higher next two days?  if not sit on hands -

[Redeemer]

why we're going up and up...

Attached Files

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[K~~]

chubby, on 15 Oct 2013 - 07:25 AM, said:

Ouch..taking a lotta pain

 

Shall I send you back the 100 points? 

[Mafuta24]

Hi Guys,

 

I have been lurking for quite some time on the forum (apologies), and recently registered, and now have taken the step just to say Hallo, and to say Thank You for all the valuable information. I truly enjoy and appreciate everybody’s view and input, and hopefully I would also contribute something......

 

Seeing that I am employed, I do have question's for those who are fulltime Traders:

 

How do you set-up a Private "trading" Company, where you pay your own salary out of your trading, and is this a viable approach? Or do you operate as a sole proprietor?

 

Any info on the above mentioned will be appreciated.

 

All the best

 

M

 

[Zero Hedge]

Sounds just about right.

[OceanWalz]

from my one of my favourite 'gurus'......"While we still don't have a deal, stocks are holding up as most expect one over coming days.  While this leads to near-term support and stability, it also mitigates the size of upside following a deal.  Since most of the rebound occurred in anticipation of a deal, there isn't much left to follow the news.  This will likely turn into a buy the rumor, sell the news trade, so there is little reason to chase a breakout.  That doesn't mean the market will rollover, just that the grind higher will resume and traders will have plenty of time to get in on their terms

 

....The high probability trade is owning this market, but watch the Black Swan closely and recognize a default could send us down 15% in a matter of days.  While we could buy the dip last week, a second dip on default is one to be avoided and even shorted..."

[gamma]

Zero Hedge, on 14 Oct 2013 - 6:22 PM, said:

The way I look at this the risk is to the downside. We already rallied Thursday and Friday on nothing but hope. Just after market close on Friday they tell us talks broke down. No progress for rest of weekend...US Markets opened massively in the red and all of a sudden Reid comes out and says there has been progress...green goes the market. What are the odds that they come out after market and tell us progress is still slow. US market within a whisker of all time highs on nothing but hopium. They better pray there is a deal before Thursday...

 

We've been here before and both sides are too sh1t scared to default so I'm 95% sure we'll get a deal. Problem is they might (read probably will) let it run to the eleventh hour so the next couple days could be red with Wed and Thurs possibly seeing big drops.

 

This is a scalpers market, steal a few pips here and there but keep the stops tight or you could be in the poop.

Definitely a stupid market to try and swing trade and if you are a LT investor you need to simply sit tight and hope I'm not 5% wrong!

[Zero Hedge]

The way I look at this the risk is to the downside. We already rallied Thursday and Friday on nothing but hope. Just after market close on Friday they tell us talks broke down. No progress for rest of weekend...US Markets opened massively in the red and all of a sudden Reid comes out and says there has been progress...green goes the market. What are the odds that they come out after market and tell us progress is still slow. US market within a whisker of all time highs on nothing but hopium. They better pray there is a deal before Thursday...

[Sam]

Jakes, on 14 Oct 2013 - 5:11 PM, said:

I wonder if we will see a rally if deal is reached.
The whole pullback in US is basically recovered.

Good point.
Or we see a short lived rally and pullback .

[Ninja]

if US defaults,  gold stocks will go up!.... if they don't default, gold stocks will go up! been looking at Goldfields and Harmony in the US....wow!! GFI trading at just above $4 from above $18 in 2011!!! similar picture with HMY..... not sure how much further they can drop, or for how long they will stay down.... but boy are they looking SEXY!!!

[Beorn]

I wonder if we will see a rally if deal is reached. The whole pullback in US is basically recovered.

[Sam]

Jakes, on 14 Oct 2013 - 3:40 PM, said:

The fact that no one is worried about the US debt ceiling and markets aren't pricing in risk, is very worrying to me.
Big things always happen when no one expects it to.

I agree. Totally illogical behavior.
The US futures plummeted on an expectation that failed to materialize.
Less than 12 hours later, almost all of the drop has been recovered with the only difference being that the debt ceiling deadline is closer. Go figure????
Against the trend I am short believing that logic must prevail overnight and that no agreement will be announced in the next 12 hours.

[Argento]

Interesting fact...90% of traders do not make it, wish it was as simple as it looks!

 

Basic info, stick to your charts/seasonal patterns including being up to speed with general conditions, like for example with QE we know this bull is alive and well..so why get out of a long now!!? 

 

A

[Sunesis]

 

Dont think too much when you are trading. The moment you start thinking, then you are fu*ked. The market is a big *****, its out to fu*ck everyone

[Sunesis]

Jakes, on 14 Oct 2013 - 3:40 PM, said:

The fact that no one is worried about the US debt ceiling and markets aren't pricing in risk, is very worrying to me.

Big things always happen when no one expects it to. 

The fact that people are expecting a crash everyday is why the market goes higher every year. The media help the market by reporting bad news everyday. 

They do this to get the pigs in the wrong tradees or short trades. They scare the market, and everybody goes short. Then the big banks take your money. Market continues higher.

Just always remeber that the rich and big banks control the media, politicians and every central bank in the world. Its been like this since the biblical times.

Don't fall for the news. Trade the trend. They have been saying the market will crash since 2009. When it crashes some of us would have made a fortune. Maybe we can join the bears when the crash comes.

 

We left a lot of suckers along the road to record highs. Don't watch TV when  you trade. Rather keep yourself busy by watching documentries about trading phycology.

 

Until the crash comes we become rich.

Time to close my long trades on FTSEand DAX. Will close NASDAQ when US session closes

 

Remember:

Bull markets are stronger by orders of magnitude, than bear markets. Due to human nature, they tend to go and go and go

[Beorn]

The fact that no one is worried about the US debt ceiling and markets aren't pricing in risk, is very worrying to me.

Big things always happen when no one expects it to. 

[Sunesis]

OceanWalz, on 14 Oct 2013 - 3:00 PM, said:

Thanks again Sunesis, only been at this since July last year - and like new traders we frantically find ourselves urgently grasping for insight into the bigger picture if things dont go our way. I have some investing studies, but investment knowledge and trading proved two different animals to work with , albeit with an overlap !! but I am learning, and have been doing very well last few months - only now see that half hour's strong uptick was mainly due to SAB ,which gave some back now

SAB,NASPERS,RICHEMONT closed down today. If you know how quality these companies are and know the theory of buy low sell high. It should tell you that traders will bid those companies soon. When that happens we will continue higher.

[OceanWalz]

chubby, on 14 Oct 2013 - 2:49 PM, said:

The trend is always your trend R. Personally I would rather sit this rally out..There is just too much unknowns for me to commit to a long term trade. I try and always work out how much do I stand to lose first and then work out how much I could gain. Kind of a risk:reward ratio. I can't quantify what the risk would be if the US defaults. If the markets rallies I will take a bit of pain and put in a losing trade. I will make it up again. If no deal tonight or there is a breakdown in negotiations then I could make some easy cash. Calculated risk and yes very counter trend. Sometimes  worth a punt..other times not

following your posts I think you have been doing very well going opposite on over extended candle sticks , not so? -

[Sunesis]

Get inspired      

Made my daily cash, now i can relax.

 

 

http://www.youtube.c...h?v=tCcxr-fyF4Q

[OceanWalz]

Sunesis, on 14 Oct 2013 - 2:46 PM, said:

A dip always comes, problem is when it comes people don't have the b#lls to buy.

But in a bull market you can buy anywhere really. Just as long as you control you money management.

 

For example if you have a 300k account, and you trade R10 per point. You make R30 000 in 20 trading days if you go for 150 points a day, that's a month worth of work.

But if you are experianced you can make R3000-5000 a day depending on how the market moved. You do that by just simply buying dip and close, perfect when market is ranging.

That's better than just holding long term. Everyday you sleep with a closed trade with money in the bag. With uncertain markets, who would want to hold long term. Even big banks hire a lot of day traders who have skills to make money everyday. They have robots which only hold trade for 1sec. It makes more than 10 000 trades a day.

 

For those who love to watch trading documentaries.

http://www.youtube.c...h?v=ynwMLjGzsJ0

 

It will help you with how traders think

 

You will learn how traders think.

 

You can watch this documentary by Robert Shiller who won the econimics Nobel prize today.

 

http://www.youtube.c...h?v=ynwMLjGzsJ0

Thanks again Sunesis, only been at this since July last year - and like new traders we frantically find ourselves urgently grasping for insight into the bigger picture if things dont go our way. I have some investing studies, but investment knowledge and trading proved two different animals to work with , albeit with an overlap !! but I am learning, and have been doing very well last few months - only now see that half hour's strong uptick was mainly due to SAB ,which gave some back now

Edited by OceanWalz, 14 October 2013 - 05:02 PM.