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  #11  
Old 12-27-2010, 02:23 PM
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smeagol smeagol is offline
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Originally Posted by theplantguy View Post
Covered @5.65 .......that just took way too long
yeah know what you mean, we eventually got to $1378 but took about 4 hours longer than I expected. Bought at $1378, Shouldn't have bailed from that spx earlier either seeing as its now at 1257 but mrs smeagol is at home cluttering up the house,I cant concentrate at all. She claims she can multi-task but earlier I told her to sit down and shut up and she couldn't do either .

Now the Chinese IRs out the way I'll be looking to buy into some artificial dips tommorrow before gold and silver begin to head up again.
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  #12  
Old 12-27-2010, 02:59 PM
proudandrenewed proudandrenewed is offline
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Thank you for this thread (the kind that I have envisioned would be great to have on this forum) and for the contributors.
I might just clutter this forum with unhelpful posts because I am still diffident in this kind of trading though I really wanted to delve deeper.
This will help me in my learning- and growing (balls )- process.
Happy and prosperous New Year to everyone.
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  #13  
Old 12-27-2010, 03:29 PM
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smeagol smeagol is offline
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Originally Posted by proudandrenewed View Post
Thank you for this thread (the kind that I have envisioned would be great to have on this forum) and for the contributors.
I might just clutter this forum with unhelpful posts because I am still diffident in this kind of trading though I really wanted to delve deeper.
This will help me in my learning- and growing (balls )- process.
Happy and prosperous New Year to everyone.
Yes thanks to the plantguy, we're both trading slightely differently, plantguys trading shares and I'm trading spot, forex and indicies but we're probably using alot of the same queues and trade signals and prob spend the whole day scanning charts and news wires. There's a couple of other threads but they're all just tech or EW wave counts and lots of arguing. Tradings not just about tech tho its useful. I'm basically interested in discussing with other traders about the trades they're making and the thinking behind them.

and clutter away, no probs.
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  #14  
Old 12-27-2010, 03:40 PM
theplantguy theplantguy is offline
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Originally Posted by smeagol View Post
Yes thanks to the plantguy, we're both trading slightely differently, plantguys trading shares and I'm trading spot, forex and indicies but we're probably using alot of the same queues and trade signals and prob spend the whole day scanning charts and news wires. There's a couple of other threads but they're all just tech or EW wave counts and lots of arguing. Tradings not just about tech tho its useful. I'm basically interested in discussing with other traders about the trades they're making and the thinking behind them.

and clutter away, no probs.
You pretty much got that right. It's a full time job, don't let anyone tell you any different. I usually have 4 monitors with 4 charts each, T&S, and LevII for each chart. A 5th monitor for news and stuff. But today, I just can't seem to get into it, too distracted, and distractions can cost you money.
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  #15  
Old 12-27-2010, 04:07 PM
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smeagol smeagol is offline
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Originally Posted by theplantguy View Post
You pretty much got that right. It's a full time job, don't let anyone tell you any different. I usually have 4 monitors with 4 charts each, T&S, and LevII for each chart. A 5th monitor for news and stuff. But today, I just can't seem to get into it, too distracted, and distractions can cost you money.
It's hard to get into it when there's nothing much going on but of course the minute you turn your back it all kicks off and you miss a good opportunity. Full time job yes and hard work but I wouldn't change it, nobody tells me when to get up or when to clock in or clock out, take my breaks or take a day off. I work when I want.

I think tomorrow we could have another quietish day, londons shut and there's not much on the economic calendar, expecting a breakout to the upside soon but we'll see what tommorrow brings. Booked the $1378 @$1383 for a $5 scalp, the $1382 from earlier I'm letting run overnight with a limit @ $1387 and letting the $29.20 silver run also. No obvious trades in the forex pairs at the mo, for me anyway. Hoping for a better day tommorrow, slim pickings today.
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  #16  
Old 12-28-2010, 03:29 AM
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$1382 hit the limit overnight @$1387

Solid buying in Asia and quite a spike at 8.00 gmt, checked the news wires and cant find anything obvious, nothing much happening in the dollar pairs either, except gbp/usd

What you make of that PG? Was expecting a breakout soon just not so soon, silvers not doing much though.

bought small position post the spike @$1389

Fishing about to get my bearings on whats going on.
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  #17  
Old 12-28-2010, 05:00 AM
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scalped the $1389 @ $1393 and re entered @$1393.7, booked yesterdays silver from $29.20 @ $29.48, decent overnight and mornings work..so far

Solid buying or short covering in gold on volume spikes, for the moment

Last edited by smeagol : 12-28-2010 at 05:12 AM.
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  #18  
Old 12-28-2010, 06:29 AM
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and scalped $1393 @$1397. (I do this to lock in profit) lets see if we can break $1400

poor old usd getting slaughtered this morning even gbp has just got in on the party

Last edited by smeagol : 12-28-2010 at 06:36 AM.
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  #19  
Old 12-28-2010, 06:59 AM
Tommybee Tommybee is offline
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Plantguy and Smeagal: Can either of you recommend a book/resource that is a good starting point for someone who has, literally, zero understanding of the market? I need to build a foundation.

I read through all your posts and I don't even understand the language. Once I reach a level of competence I can decide whether trading is for me, if I have any aptitude for it, etc....

Thanks.
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  #20  
Old 12-28-2010, 08:06 AM
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smeagol smeagol is offline
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Originally Posted by Tommybee View Post
Plantguy and Smeagal: Can either of you recommend a book/resource that is a good starting point for someone who has, literally, zero understanding of the market? I need to build a foundation.

I read through all your posts and I don't even understand the language. Once I reach a level of competence I can decide whether trading is for me, if I have any aptitude for it, etc....

Thanks.
forget books, learn as you go along, anything you don't know just ask as I'm sure all the traders on this forum would be happy to help anyone interested in trading. I have alot of freetime between trades as I'm sure many do.

So what will happen at US open? I figure alot of shorts down towards yesterdays $1378 will want to cover and the USD has been getting hammered all morn but in the last hour had been making a comeback. Its a thin market due to year end and the snow and there may be a few funds yet to book profit before year end. The FED will no doubt want to step in and push gold lower but on balance I'd be hoping for a break of $1400 today.

We got Case Schiller at 9.00am that might give some more direction. bought gold @ $1396. SPX moving lower but we got a POMO today be looking for an entry point soon.
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