The London Open - page 77
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I'll have you know I look quite good caked in mud..........but having reviewed carefully Rollingstone in costume, I agree, I'd prefer that too!
I'll go and soap off now........and get this mud off too.
Bubbly Rockie
Hi all
Someone was asking me about cutting trades and having a business plan etc...Thought i would post it here as well..
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Hi Stuart
Yes there are many ways to exit trades. The way i have always looked at it, is to have a plan and stick to it without fail.
I am a stickler for banking my targets and once i have done that i play for fun with less risk. We all live in the real world of having to make around £4k - £6k per month so that we can live. Most people can get buy with that and have a good life and look after the family.
At that level you need to make around 250 pips per month at £5 pp which is totally reasonable and very achievable. The important thing to do is not to rush it. Prove to yourself that u can do this for 1-2 months at £1pp and then up it to £2 or £3 pp..After a few months, when u have proved to yourself that you are consistent, you can up it to £5 pp and so on. The most important aspect of this is not to rush!!! Trust me i know!!!
Most people fail because they think how on earth can i make £4k-£6k pm. They do the maths and try and trade at £5pp+ in the 1st 2 weeks and do their bank balance in a week and get an earful from the misses, saying make it back or else...
You have a very reasonable target to achieve and i have every bit of faith u will get there but its how u get there which is important. Prove to yourself u can do it, b4 u put on the risk. I'm not going to play International rugby b4 playing the premiership. I need to build.
Its great that you know what u need to do, so positive thinking and go out and bank 250 pips a week at £1 pp for the next few weeks and prove to yourself that u can do it. So when u are up 250 pips in 1 trade, in your short term book u bank, because that is a huge amount of pips. Yes we can have trailing stops etc etc but for me i know how quickly the market turns and i know i have to make 250 pips to live, so for me i bank.
I know people can argue this grey area but for me it works and (i do ok) so it cant be that bad.
Hope that makes sense without me waffling..
See u tom
D
Morning all
With Brent Oil rallying from $90.00 to $105.00 the 1st thing on my mind is a potential pullback. Yes its bid and i'm not keen to jump in short at this moment but i will be watching it.
GOLD is in a similar state and one i will be watching for a pullback. Small divergence on the 60min so keep an eye.
With BRENT and GOLD on potential pullbacks the USD could find some support here and with CABLE rallying 800 pips there is a chance of a pullback soon.
EURUSD looks similar and could see 1.4700 touched again soon.
USJPY on 60min looks weak if breaks 105.00, so i need to see the CRUDE and GOLD to show me the way with a short here.
Its a little messy so hold onto your seats for direction.
Speak in a bit.
D
PS I am working off the BRENT CRUDE OIL chart.
GOLD and CRUDE looking gd for the downside as we speak....
Go GOLD...
D
EURUSD looks interesting as well....
D
A good day so far....
50 on EURUSD
120 on BRENT
80 on GOLD
250 total for this am...They should move further but i'm not going to get greedy. Thats my weekly target hit in one am.
Speak later, i am done.
D
Hey Dan, Great start to the day. +50 from EURO and GBP. There ws more there but I got what I wanted. Thats all that matters !!
Hey Dan, Great start to the day. +50 from EURO and GBP. There ws more there but I got what I wanted. Thats all that matters !!
Well done Barry...Excellent work.
D
Rockdrive gets spanked again by the Gorilla. After several months of smouldering competition the Gorilla finally gets serious. The 'young' pretender was again shown the door by the 'old' master who with just a couple of trades produces the high pip scores so adored by the trading public.
Rockdrive commented; "well I thought he waz finished, cos he disappeared, and things went all cozy, that blasted hairy one he set me up, and he dupped me, I was on the ropes and all my pips just spilt out".
The trading cognescenti were less impressed with the young pretender and the Purple One summed up their feelings "the boy done good, but Rockdrive, see he's just a boy in a mans world, can't even drink no more, what kind of trader is he?" .
Several reports have come in that the self proclaimed 'young one' is challenging the gorilla to a sing off, and he's opening with a traders favourite from Take That! Now readers thats sounds painful, and unless the gorilla is vocally focused there could well be a need for ear defenders.
This Rockdrive needs more work and if he intends to come close to the champ, then he is going to have to work smarter. The pips are there said the Gorilla, its just a case of putting your hairy arms around them and reeling them in.
Rockdrive gets spanked again by the Gorilla. After several months of smouldering competition the Gorilla finally gets serious. The 'young' pretender was again shown the door by the 'old' master who with just a couple of trades produces the high pip scores so adored by the trading public. Rockdrive commented; "well I thought he waz finished, cos he disappeared, and things went all cozy, that blasted hairy one he set me up, and he dupped me, I was on the ropes and all my pips just spilt out". The trading cognescenti were less impressed with the young pretender and the Purple One summed up their feelings "the boy done good, but Rockdrive, see he's just a boy in a mans world, can't even drink no more, what kind of trader is he?" . Several reports have come in that the self proclaimed 'young one' is challenging the gorilla to a sing off, and he's opening with a traders favourite from Take That! Now readers thats sounds painful, and unless the gorilla is vocally focused there could well be a need for ear defenders. This Rockdrive needs more work and if he intends to come close to the champ, then he is going to have to work smarter. The pips are there said the Gorilla, its just a case of putting your hairy arms around them and reeling them in.
Ahhh Rockdrive... Never doubt the Gorilla. He is a competitive beast...
Well done today. Another sterling performance from the Rock.
D