Re: Re: COCO
-awais
Same herePsycnosis said:
-awais
Stock Market
- Thread starter NemesisX
- Start date
Btw...did you catch that afternoon up-move? I was long at 1060 this morning but exited around 1063.
Trading this afternoon could have paid for all those modsPsycnosis said:Been doing car stuff all day, turbo back, cams, cam gears, and computer. It's fun now 350 WHP
I pay for them day after day. lol The only problem now is to find someone to fix some of the strage stuff like it not holding 22PSI to redline. Oh well going to the shop again tomorrow to see if we can get it finished. Good trading to ya.
Good trading to ya.O-Ace said:Trading this afternoon could have paid for all those mods
The COCO situation is a shame. I say, let the guy pay for his mistakes, the market doesn't (or at least shouldn't) revolve around him...
Psycnosis - how is your trading affected when something big happens (fundamentally)? Charts don't matter much when something fundamentally changes. The charts can change very quick. How was your experience based on trading on surprise (unexpected) news?
Psycnosis - how is your trading affected when something big happens (fundamentally)? Charts don't matter much when something fundamentally changes. The charts can change very quick. How was your experience based on trading on surprise (unexpected) news?
My trading is similar to Psycnosis; all charts and technical analysis with average hold time of around 5-10 minutes. Normally, the market spikes on economic numbers. I know when these numbers are released so I make a note to stay out of trades until after the news has been released. I was a little careless last week and was caught on the wrong side when an economic # came out (surprise for me), but didn't lose too much money because of my protective stops. Hope this answers part of your question.dgp said:
-awais
Something big has to be 911 or something like that, if 1 or 2 stock crap out no biggie, the S&P and Dow30 flow pretty well that's what I trade them, again like I said people are kings and everything looks good until some damn news kills you and you can't see if on a chart or see it on the books so both sides lose. Well 1 side wins and that's the insiders and the floor, same thing.
dgp said:
Since you do mostly technical analysis what did you do when the futures contracts for the S&P500 all of a sudden changed because of a report of increased probability of terrorism on our soil. That's what i mean by unexpected, and yes it affects broad averages or indexes too.
When that happens, people start selling off the S&P and I can see the increased selling on the Time & Sales screen and on my charts, so I would exit my long position or even reverse to short. The price does show everything. I might not know right away exactly why everyone is selling, but to make a couple of points off it, I don't need to know why; I just have to react to the change.
-awais
-awais
Right, and the faster the selling goes the worse your loss on the long position will be. Then switching from the long position to the short, it will take the same amount of points as the loss in order to make those money back (plus you never get those transaction costs back). In other words, trading is risky, don't let anybody tell you otherwise. I have seen however proprietary trading systems with 70%+ success rate.
Ofcourse it's risky. I don't think anyone will argue that point. Futures trading is even more risky than stocks/options since it's a highly leveraged instrument. You're controlling over $50K with $1K.dgp said:
-awais
I've been trading the S&P E-Mini part-time for about 4 months now. I have a full-time job and only trade the first hour or so every morning. My broker is Open E Cry (http://www.openecry.com). Get in touch with Justin over there. He will hook you up!dgp said:
-awais
I'm a little over break-even right now, which I guess is not too bad since most people actually lose a lot in the first few months. My learning curve was also stretched out a bit since I only traded the first hour, and on some days, didn't even trade. Futures are marked to market everyday, and unlike stocks, you don't have to give details on every transaction. Just the overall profit/loss needs to be reported. I think that's how it works, but you should check with your accountant. This website has some more info on trader tax: http://www.greencompany.com/dgp said:
-awais
beeker16 said:
Is this site for extreme amateurs??
Great I set up an account. Now I need to get some reference material so I can Understand some of the terminology
Any suggestions for the eager novice? Listening to you guys is great.
Any suggestions for the eager novice? Listening to you guys is great.
Ko-nsx said:Great I set up an account. Now I need to get some reference material so I can Understand some of the terminology
Any suggestions for the eager novice? Listening to you guys is great.
Here is a ton of links.
http://www.billbledsoe.com/Links/wallstreet links.htm
Was anyone expecting the run up we had today?? Damn...I was on the wrong side all day long! Still managed to bank a few points overall but, today the big bucks were on the long side.
-awais
-awais
If you have any specific question, feel free to post it here.Ko-nsx said:Great I set up an account. Now I need to get some reference material so I can Understand some of the terminology
-awais
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