Closed out mid last week for a small loss.
Went long gold yesterday jobbed in & out for good profit.
Now back long again.
See stock markets surged & are now down! Oil bouncing.
Not a market for the timid that's for sure.
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Closed out mid last week for a small loss.
Went long gold yesterday jobbed in & out for good profit.
Now back long again.
See stock markets surged & are now down! Oil bouncing.
Not a market for the timid that's for sure.
No and thats why I'll keep away from the leverage products .....up a tidy 100% in RMS in couple weeks ,,,think I'll keep to the ords
so Daytr how much do you allow before you pull the pin on a bad trade ...I found any order of decent size didn't take much from one minute to the next I could be down $200 (from the margin in taking the position) to $300-$400 down and as you use stoplosses to protect your capital how tight do you set it ....I remember one forex play I placed the order then exactly 1-2 mins later my stoploss was hit bye bye $600
I really think in hindsight one must play a longer term outlook than the minutes to hour I was trading...
and use only 10-20% of your capital give yourself a good size stoploss ...and let it play out .....had i done that with the short orders I had in FMG AGO (just before they really crashed I would have done very well)
Really depends what I am trading JB. If its stocks 10 - 15% but that's big due to the volatility.
Gold or currencies probably more like 0.5%.
I try & trade ranges, but obviously if the range breaks you get stopped out, again that varies depending on the market at the time.
If something is apparently bullish or bearish I'll just bat it from one side, long or short.
The key I think is discipline & riding your wins.
Something I have been guilty of is pulling the pin too early.
Agree though you don't want to over lever or go too big.
There has been so much volatility lately that its making all these things rather difficult--Its no wonder stop losses are being hit.
Yesterday I read an article on how the US economy is now coming right--and today this
http://money.cnn.com/2015/01/14/inve...ity/index.html
Gold exploded higher overnight by $30 & smashed resistance at $1250 area.
Swiss broke away from their pegging to the Euro, Swiss stocks smashed about 10% I believe.
Must have cost the Swiss Bank a bomb defending their ccy for the last few years.
Sent long gold & NCM yesterday.
Happy days !
*sigh* gold takes an up turn and KCN gets it's mine shut down.
Not the end of the world but I have a feeling I am going to have lighter pockets today.
Holy S--t! People are so paranoid that they are PAYING to keep their money in bonds in many countries(negative interest)
amazing how quick things can go pear shaped! Its no wonder Gold went up (but cash is king atm)
I just looked on the ASX but see no new announcements since the trading halt. How do you know it is a mine closure?
NCM was doing so well I have been tempted to buy some KCN as the gap between the Morningstar valuation and the share price was much more significant. I guess I just caught a lucky break depending on the news.
Sorry, I don't know if it's actually shutdown past the 30 days yet. Still waiting for an announcement to be made. It sounds like a case of scaremongering by the locals but I figure any news like this is bound to kick the share price in the guts.
I missed the sell point this time last year at about $1.5 and was looking cash out this year on a rebound, but looks like that may have been wishful thinking.
Maybe they believe that central banks won't win and we will have deflation (current commodity price trends indicate we will). I know if you trade bonds their value can change but if you hold to maturity at least you get your money back, shares could halve in value and stay down like it did in Japan. How many years since the Japanese stock market peak and you would still be down even after all those years. Older people might not be around long enough to see it rebound. Just depends on if money is destroyed by efforts to boost inflation. If central banks are dropping money out of the sky from helicopters, gold, real estate and shares look a whole lot better than bonds or cash in the bank. Remember central banks are trying to help people who borrow money not people who save it.