Thanks for the questions @mokum, @CPRICE76 and @pvlee.
Some more details behind my trading:
1) My trading preparation
Starting the week I am already checking bigger events, holidays, fixed announcements on the precedent
weekend. This helps me to get the bigger picture. On the given trading day I check the range of the past
day and I watch the development on the first 30 minutes after opening. According the rules I fix the entry
time, the direction of the trade, the stop and a second order for the exit time. That's it.
After that I do not really follow what happens.
2) My trading station / place
I don't have one
My work is on a very mobile MacBook Air - I can start at any place - and have no need for quick internet,
many screens or virtual servers - sorry @sam028.
The trading time on a trading day is very short - the journaling takes even more time - LOL.
Weighing all this I say it is very optimized after Pareto: doesn't make your nerves glowing and no need for
a long time sitting (@matevisky) nor being glued to blue screens in a dark room.
3) What am I trading else?
Easy answer: Nothing else!
Looking back to the Dax trades of the last few years journaled here - there is nothing to do more: not getting
involved to learn and "feel" another instrument - or to find a second entry and exit after the first trade.
Just NOTHING else.
4) What am I doing in the free time?
For example holidays (but very few). As you can read in point 2) above I can trade from anywhere.
So I was last October 2 weeks in Mauritius and traded from there at the sea - nobody in the thread remarked any difference.
Then I am single parent of four kids - three of them still living at home. That takes quite a part of the other work during the day.
Then I am going after my hobby "wine" - for which I put quite some work into for organizing 6 wine expositions
in our country per year. These expositions are mostly on a ship of a beautiful lake in different parts of
Only doing stuff I like and that makes some sense for the quality every day. Especially in my age
Hope this helps you to see some background.
Have a great weekend
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DarkPool - you give me some exotic input - thinking of the cruel stops most traders normally put to "protect" from
Just a vicious thought here for EVERY trader using regular stops:
1) forget to put a stop in (or really 3 times more far away than first previewed - more like a desaster stop)
2) Put a TAKE PROFIT opposite to what you would have taken as stop right the same distance of original stop!
I am sure you can make much MORE profit with this method than running on what you think the market goes
and protect the trade with wrong (too narrow) stops.
Might give an interesting thread with quite some input.
Last edited by GFIs1; November 16th, 2014 at 09:33 AM.
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In the daily Ichimoku price could not pass the upper resistance.
Instead the movement in the past two weeks were sideways - just before
the cloud. ChikouSpan is at this resistance too but at the previous cloud.
To make it short:
- Price can not go higher at this special point.
- This week will be red..
- Next price goal on the down side 9096
This scenario should happen within 3 days.
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Yes - there are moments to put a price target on the table.
2 times the NORMAL stop distance...
Trying this out today: 2x30 points - would have given 9166.
And where was the turning point?
but exactly there
Once a while this is a good decision - but for letting the runners RUN
that means waiting for the perfect setting.
Huh? perfect setting?
Yes - the one to go down on 9096 soon, mentioned earlier.
Gives much more Ice Cream mmmmhhhh...
I was the whole day out and when back, locked behind my screens "Without!" even time to mail or
answer some posting
I want to thank you for your open answer what helps me a lot to change my future.
Not now and maybe also not in 2015 (private circonstances) but after that!
I heard already about a friend of my friend of in Holland who also does an easy way of trading but he has a real capital
to play with (Ä1M ) and i don,t. I not even have the 5-25.000 euro,s necessary to trade options.
But there are so many ways to play options with 1000 euro or some thousands more that this is not a bottleneck.
The only difference is that on your way (= the real way!), the profit per contract goes nuts and brings the income you
need to live or bring that extra!
Not important and not the case. I enjoy what i am doing as a real real exciting hobby what costs too much time!
I was astonished to read about your Macbook Air ( my 13 year old son is begging for one, but has an Ipad + mini-ipad
and that is enough in my eyes) and that you are REALLY doing only what you told us you do.
Some hours per day for trading, and the rest for your family life and your Wine-hobby. Wow
What a Story from Switserland
Your vision about short this week is right, but the unlogic way the indices in The States sometimes are dictating
the world of stocks and options is for going crazy and of course that Game of the Big Traders.
But we are on the front door of a couple of nice short days. But when!?
Good Luck with your trades Golden Wine Man
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