Just an update covered position from over a month ago posted here in TT just as what i said no paid no gain
Going long for a bounce
Just an Update in POSITION
Started by
porsche911sg
, Aug 04 2011 06:29 PM
4 replies to this topic
#1
porsche911sg
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Posted 04 August 2011 - 06:29 PM
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#2
arbman
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Posted 04 August 2011 - 06:54 PM
Let's see if it will be like your Nikkei trade... It was much better...
Congrats, although you took 70 points draw down to make 70 points...
It must be a small position...
(10% position would make 0.1 x 70 x 50 / 5625 = 6.22% drawdown for 6.22% gain)
#3
porsche911sg
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Posted 04 August 2011 - 07:00 PM
Let's see if it will be like your Nikkei trade... It was much better...
Congrats, although you took 70 points draw down to make 70 points...
It must be a small position...
(10% position would make 0.1 x 70 x 50 / 5625 = 6.22% drawdown for 6.22% gain)
Yes thanks arbman, but i dont know how to make money on the dailies it's something i am not good at.
Yes i took 70 point draw down. This one was one on a 1/3 position(which is my max...usually it's 1/4) effective preparing the other 2/3 for margin calls which is 200 point margin which is not likely...
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#4
arbman
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Posted 04 August 2011 - 07:36 PM
The most important level in my mind is 1180-1185 zone at this juncture. I think if 1178-1180 is violated downward, it opens the door for another 3% decline to 1150. I think tomorrow we may see 1178-1180 and then a very swift reversal. Of course, the question remains, where will the money come from? Any ideas? I would like to believe in the retracements similar to the one after flash crash etc, however will Fed announce a trillion dollar QE over the weekend? This is not going to happen. So, I wonder what they can say to stop the bleeding...
#5
porsche911sg
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Posted 04 August 2011 - 08:30 PM
But as far as i know, after such a big down day it rebounds hard. alot in the long it WILL be heading down further i dont think this is the bottom but it will be rebounding i might as well take the chips.The most important level in my mind is 1180-1185 zone at this juncture. I think if 1178-1180 is violated downward, it opens the door for another 3% decline to 1150. I think tomorrow we may see 1178-1180 and then a very swift reversal. Of course, the question remains, where will the money come from? Any ideas? I would like to believe in the retracements similar to the one after flash crash etc, however will Fed announce a trillion dollar QE over the weekend? This is not going to happen. So, I wonder what they can say to stop the bleeding...
Technicals are second...
I am taking a 1/8 position in nikkei now at 9300. Will sell the bounce.
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
