Archive for the Make Me Some Money Ideas Category
I went long on the DOW the other day, see the daily chart of the Dow below... it had hit support and the second time it did so, there was a pin bar pattern indicating strength with the buyers. The second day, you can see continued strength but today, there has been some selling. I went long at the break of the nose of the pin bar and my stop is 5 pips under the bottom of the pin. The trend is down however but this is a reversal play. It is risky considering how weak the market is but this could
May 25, 2012
No Comments Full Story
Every trader has heard of the trading adage "Hold onto your winners and cut your losers"... in practice, this is actually quite difficult to do as people have a habit of closing their winning trades early to secure their profit but have a habit of holding onto their losing trades in the hope that they may cover. This behaviour is universal for all investors or traders to the stock market and is known as the Disposition Effect.
I recently learnt of the Disposition Effect through attending
May 19, 2012
No Comments Full Story
The markets have taken a bashing of late and extremely oversold. Silver has had 10 straight down day and you would expect a bounce. Two nights ago there was a pinbar showing support and then the following day, a green bull bar. I bought at the close of this bar at 28.05 and it rode up nice today. I closed out today at 28.76 for 71 points.
I closed for two reasons... the market is still in a downtrend and after a weekend, anything can happen with the markets.
It was nice to grab 71 po
May 18, 2012
No Comments Full Story
« Older Entries
Newer Entries »
