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Warrie's trading !


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Warrie's trading !

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  #1 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received

Dear people of this forum

I'm trading for 2.5 years now. I should be paper trading because i suck at it but well, we all know... So not a good start, but luckily i'm still profitable.
I like trading in channels and try to take breakouts on daily charts.

Today i took this trade: bought north american palladium at 2.75. I wanted to buy it yesterday at 2.55 but it didn't go down, today it also went up, as it looked very strong I just bought it. But it was a very bad price because i chased it. Luckily it closed break even for the day.

I'm trying to catch a breakout, I have no sell target, I'll let it run until it stops running. Also i'm bullish pm's and this is a cyclical stock, i hope i caught a turning point.
stoploss is 2.58

unfortunatly i cant post the charts as this is my first post

I'm here to learn and to have my stupid mistakes put in my face by you guys. So there's fun for everyone, you can teach me or laugh at the pathetic overestimation of my skills.

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  #3 (permalink)
 Big Mike 
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 ThatManFromTexas 
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Warrie View Post
Dear people of this forum

I'm trading for 2.5 years now. I should be paper trading because i suck at it but well, we all know... So not a good start, but luckily i'm still profitable.
I like trading in channels and try to take breakouts on daily charts.

Today i took this trade: bought north american palladium at 2.75. I wanted to buy it yesterday at 2.55 but it didn't go down, today it also went up, as it looked very strong I just bought it. But it was a very bad price because i chased it. Luckily it closed break even for the day.

I'm trying to catch a breakout, I have no sell target, I'll let it run until it stops running. Also i'm bullish pm's and this is a cyclical stock, i hope i caught a turning point.
stoploss is 2.58

unfortunatly i cant post the charts as this is my first post

I'm here to learn and to have my stupid mistakes put in my face by you guys. So there's fun for everyone, you can teach me or laugh at the pathetic overestimation of my skills.

Let go of the mouse and step away from the computer slowly ...

I pride myself on NOT telling other traders what to do ... but I hate to see folks piss away their hard earned money.

Please tell me you have a better trading plan than... I think it's going to go up...

If not ... don't trade real money until you get one...

Disclaimer: This post does not represent the view point of the owners, managers, or moderators of this web site and is not intended as a slam against any moderator, board member, any banned former members whose name we dare not say, any other living person, any recently living person or any person or persons whose status we are not sure of and especially not for any platform vendor with a questionable product and a pit bull lawyer. This post is meant purely for entertainment and should not be confused with a real thought.

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I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #5 (permalink)
 Big Mike 
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Warrie View Post
unfortunatly i cant post the charts as this is my first post

Yes you can. Attach them to the post, don't embed them from external sites.

Mike

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  #6 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


Big Mike View Post
Do you have a plan? If so, what is it?

Mike

i'm going to win and then buy a ferrari

I use trendlines and fibs as support and resistance, the space between them i see as a vacuum. So i take a trade at a line and hope it will go to the next one. As i stop the when it goes trough the line, giving me a tight stoploss, i'll sell at a profit at the next line. This gives me, I think, a positive expectancy over the long run as my gains should be bigger than my losers.

As a daytrader this might sound ridiculous but on daily charts a lot of lines realy are strong support that only gets touched briefly. I take the trade after testing the line.

Also a friend of mine does a lot of analasys. I buy things that got an upward bias because of price/earnings, bookvalue, or just technicals.
Do you think it's any good?

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  #7 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


ThatManFromTexas View Post
Let go of the mouse and step away from the computer slowly ...

I pride myself on NOT telling other traders what to do ... but I hate to see folks piss away their hard earned money.

Please tell me you have a better trading plan than... I think it's going to go up...

If not ... don't trade real money until you get one...

I've been thinking about papertrading, mainly after losing, but it's not the same, there is no rush. I think it's better when you learn to handle this rush, i think it's a big part of trading.

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  #8 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received


Big Mike View Post
Yes you can. Attach them to the post, don't embed them from external sites.

Mike

thx mike, here they are !


They're quite busy but I like the lines, normally I use less support and resistance.

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  #9 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
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Trading: Futures & Crypto
 
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Posts: 50,065 since Jun 2009
Thanks: 32,529 given, 98,479 received


Warrie View Post
Do you think it's any good?

Frankly, no.

It seems you have no plan other than "hope it goes up".

A plan would at least consist of:
a) why did you buy where you did?
b) what is your exact exit price?
c) what is your exact stop price?
e) what would cause you to exit the position early, ahead of the target or stop price?

Also how much did you buy? How much are you risking? 1% of your account? 2%?

Mike

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  #10 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received



Big Mike View Post
Frankly, no.

It seems you have no plan other than "hope it goes up".

A plan would at least consist of:
a) why did you buy where you did?
b) what is your exact exit price?
c) what is your exact stop price?
e) what would cause you to exit the position early, ahead of the target or stop price?

Also how much did you buy? How much are you risking? 1% of your account? 2%?

Mike

haha, I like your honisty

a: it broke out of a long downward channel, see charts
b: trailing stop, no target, i want to let it run, i think you do not always need an exact exit, in a channel, yes, but not for breakouts. Cut losers, let winners run
c: stoploss is 2.58
d: stoploss is close enough to not have another reason that way. If it's going up, i'll look for resistance lines, if it rejects them, i'll sell. I'll also sell before i have a loss, considering transaction costs

i bought 26% of my account, stoploss is at 6% loss, so, 1.5% of capital at risk.

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  #11 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received

up 2.18% at the moment

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  #12 (permalink)
Warrie
Brussels, Belgium
 
 
Posts: 8 since Apr 2012
Thanks: 0 given, 1 received

target is 3.55 as 3.6 is a fib retracement and showed big support and resistance in the past, also there is more resistance not far above it

for now it's doing awsome, up 7% today, like yesterday there are still big buyers pushing up price, no real selling.
resistance is at 3, only 5 cents to go. I hope it goes through, next resistance is my target so it would give a bigger chance of a succesful trade.

graph 1 = target
graph 2 = big volume spikes bidding up price

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