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Silver Trade

Silver Trade

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

Oil Trade didn’t work out

Oil Trade didn't work out

You remember the trade that I put on the other day. The disappointing thing is that the support which we had identified didn't hold and the price action crashed through it and took out my stop for 140 points. Disappointing, of course, but in trading you have to expect these losses. As a trader so long as each maximum loss is your defined percentage loss (in my case 2%), it doesn't matter. I was able to stick through my plan and it didn't come off. I was talking to some other trader friend

May 16, 2012 No Comments Full Story

Trading with a Full Time Job

Trading with a Full Time Job

People ask me if it's possible to trade with a full time job and the answer is YES, absolutely! In fact, for people starting out trading, this is ideal. One should never give up their full time job for trading as it just adds added pressure if you're relying on trading to pay your bills. I personally think that you only have a chance in making it as a trader if you are able to trade initially with money which 'means nothing'. When I say 'means nothing' I mean, this money you're not reliant o

May 11, 2012 1 Comment Full Story

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