Archive for the Trading Category
I don't usually trade off the 5 minute charts but sometimes you fancy doing some scalping when you're at a loose end. Most of my trading focuses on the 1 hour or the daily charts.. with these, you don't need to be at the screen so much and I've found that you don't worry so much about the 'noise' in the market.
Anyway, here is a trade which I took from the 5 minute charts for a paltry 6 pips (I got out as the price action looked as though it wanted to go up and also the stochastics were indic
November 28, 2011
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Today was a straight forward trade.. I put an order to short Silver 10 points below the previous support as you can see below and put a 100 point limit on it.
It worked like a treat and I got my 100 points relatively easily but the market continued without me. As I write, Silver is at 31.44 meaning that I left more than 50 points on the table.
I do find it very difficult to know where best to take profits.. I've done the take 100 points in the past to find it ends up like today, it moves f
November 17, 2011
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The markets really moved a lot again today and I went long Crude Oil see a 1 hour pin bar off 9500. I got in at 9550 and had my stop at 9480 and was hoping to ride the market to around 9700.
The below shows my entry...
What was annoying is that I got stopped out so close to where the market turned for the higher. It was 9456 so a mere 24 points away... ugh!
So I ended up taking a 60 point loss when it could have been a lovely 150 point winner!
That's the frustration with the mark
November 9, 2011
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