The London Open - page 29
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Hi all
As discussed this morning, the Indices had the expected retracement with the break of the 20ma...
Will be interesting to see how the DOW moves the rest of the market ...
Hopefully bring life into it!!!
Dan007
Nice work Dan. Spot on as usual....!!!
Hi Dan
Please could you cover trading around data in tomorrow's Education Seminar.
We don't need to cover languages though, Le Pimp has got French covered in the Live Room.
Thanks
Fran
Hi Rollingstone.
Yes we sure can...
Lesson to learn today is that it is important to remain very positive around poor markets. Do not over trade and do not go looking for trades... If they aren't obvious, quite simply do not trade them.
Pips will naturally come if you are patient. Anyone who waits all day for them, will lose, over trade and make mistakes.
See you tom.
Dan007
Hi Rollingstone. Yes we sure can... Lesson to learn today is that it is important to remain very positive around poor markets. Do not over trade and do not go looking for trades... If they aren't obvious, quite simply do not trade them. Pips will naturally come if you are patient. Anyone who waits all day for them, will lose, over trade and make mistakes. See you tom. Dan007
Thanks Dan
Wise words indeed from the master.
F
"Heed only the level voice of experience and the counsel of common sense"
Hi Dan,
Just sounds like me today, so frustrating when everything is chopping and changing.
Chris
Hi Guys
I.m short usd/jpy and it's like watching paint dry
think you might be up all night unless gold moves
Hi all
John you have summed up the market...Ask yourself why u r in the trade if it isnt going anywhere???
I have spoken to friends in the market and they are blown away with what is happening. The credit crunch is here unfortunately and here quicker than expected.
Heads remain high and we get in and out where we can, but we have to change for market conditions... 25 points on one trade is probably a good target now...
Lets hope for volatility over night now and see what tomorrow brings..
Positivity remains high still..
Dan007
Hi all John you have summed up the market...Ask yourself why u r in the trade if it isnt going anywhere??? I have spoken to friends in the market and they are blown away with what is happening. The credit crunch is here unfortunately and here quicker than expected. Heads remain high and we get in and out where we can, but we have to change for market conditions... 25 points on one trade is probably a good target now... Lets hope for volatility over night now and see what tomorrow brings.. Positivity remains high still.. Dan007
Hi Dan,
You have been so right on the market conditions and feedback on trades. I think it is very important for us to maintain a very upbeat attitude. I was lucky yesterday as I got in early traded g/j, not ideal but cheeky for 62 pips. I then allowed myself to get carried away, and thank you Le Pimp for pointing out the fallacy of the usd/chf false break....I got hit for -30 pips. Some important lessons for me yesterday. 1. Trade only what is there to trade 2. Only trade those trades which meet the cci and MA criteria 3. Make usre you only trade clear breaks and if you do decide to enter a little later (making usre the other criteria are meet) then get in and get out. and finally 4. Trade with a smile on your face. Irony had a delicious twist for me, I traded Gold was up 16 pips and then went for a coffee, got distracted and come back and guess what, my daily pipometer was in the red as Gold had sunk. Blimey o'riley....my final lesson and I think 5. Never walk away from your pc if you are in a trade and assume your pips will be safe....Great fun though. Back at it today, see if I can grab some cheeky ones. Gold looked interesting, crude could fall, but we've said that before, and the rest well at 5am GMT+1 it was a mess.....I have some walls to paint if anybody wants to see more paint drying here!!
Here's to a fun day in the office and seeing the pipometer in green.....
Le Rock