Nope … price has steamed north again, I cancelled my order
Damn !!! When I looked last night I thought you would have got filled and cleaned up on the first run up. I got a low at 1.14869 at about 10:20am.
could be worse. You could be my mother. She lost $50k in her investments, meanwhile the guy running it just said “stay the course”.
I hope he never meets me. Nor should the guy buying up all of the toilet paper. I’m going to put those bastards in the hell where they deserve to be.
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Silver is up 6%(Comex) in last 24hrs and a LOT of dealers are out of stock physical coins/bars.
Premiums are 25%+ - the disconnect has begun.
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Yeah … if I had left my order in that would have happened, but with the way the market is moving I didn’t want to leave it in and then discover Cable had gone to parity. Also I was convinced that after it hit ~1.18 the down-move was a BJ special and was now over.
Still … all my EU shorts closed in profit
One of my UJ longs closed in profit, still holding one and it grazed break even whilst I was asleep. Rollover is highly profitable on UJ for some reason … baffling when you consider all the CBs are now at 0% or 0.25% (apart from ECB and and SNB who are bottom fishing).
I decided a couple of things recently. First, it can be damn boring watching the chart.
Second, I still have a way to go with my trading, and it doesn’t help when trying to stay calm with the stock market! I missed two massive moves this year due mainly to fear. Both on UJ. The bounce off 108 in the New Year, and the piercing of 102 at the beginning of last week. Riding the bounce off 102 would have exceeded everything I made last year.
The upside is that I am down to one open position at the moment … just wondering whether UJ is heading back to the 120 region. Also my account is up over 8% since I took all my profits to pay the tax man. When I get to nearly 12% I will have matched last year’s performance.
Account still intact … 
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Hello Jason … 
that is the correct stance, provided the companies invested into are sound.
I am watching this.
I watched your two vids recently, very enlightening.
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Oanda, who is normally pretty good on spreads is all over the board now, anywhere from 1 1/2 to six so pips during normal trading. They did send out a memo last week warning of it.
Sorry bout your Mom and completely understand your sentiments. I encouraged my Mom to go into CD’s over last several years of her life for this very reason.
I have to confess – with the market moving the way it has this week, I have continued to trade - last one early this AM at London opening. I keep couple of Stu Boy’s post handy – y’all probably remember the one about not overtrading – just looking for opportunities. Also one of my favorites:
I now consider my self as middle skill level rather than amateur. I have always been disciplined and aggressive. My big flaw, concerning trading, is my being very impatient. I am slowly overcoming that. The final step is developing the ability to completely shut out all noise and do only what the chart tells me to do. Hope to be there by the end of the year.
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I hope so. It’s just spiritually taxing, when someone says “Yeh! It’s okay bruh!”
Meanwhile some jackasses could be pissing away 20% of her deposit, just because they want to fuck whores on a yacht.
News = Lies
There was a recent new release that said “Finland is the happiest nation in the world”
I looked at my mom, she looked at me, and we just laughed our asses off.
Half of my family is from that country, and she professed it’s depressing as fuck over there.
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An interesting setup is possibly taking place. Is this a beautiful bull flag developing or what?
And is this a beautiful daily candle?
And finally, here’s
why I shorted at the London opening:
It will likely bounce back up after this covid crap is over and done with. But 20% of her account is gone on a low-to-medium-risk account. I know stocks are a different beast, and you can’t just cash out whenever you want. If nobody wants to buy, you ain’t going to sell. But 20% on that kind of risk? Shit, I aim to profit 10% per month on my forex account. No way in hell would I risk 20% at any given point in time. I 1:1 it monthly. Risking anything higher than that is akin to standing in front of a train.
I have 3 stocks accounts, as of today two of them are down 25% and one is down 28%.
I have just read a piece which talked about the bear market stats over the past 50 - 60 years. The dotcom bust lasted the longest, whatever it was in '72 - '75 was the deepest at 72.6%. Allegedly. These are UK numbers.
I made lots of money in the recovery from 2003, so I am perturbed but not anxious at the moment.
The current crisis is external and not due to corruption or thievery such as in 2008. Therefore the system will recover when the external constraints are removed. There are a few aspects to be aware of. Some airlines will go bust. A lot of customer-facing small businesses may go bust depending upon whether the relevant government does anything to help. Some commercial real-estate will take a big hit, companies such as intu who own shopping malls and were already struggling before COVID-19 made things worse.
There are some bargains out there already. I moved some money into Shell Oil. Oil will not stay down at $30 for very long. The Saudis were working to keep the price around $60 during the past 18 months, Russia’s refusal to assist has sparked the current price collapse. A number of American shale producers will either suspend production or go bust, and the industry support businesses will struggle for a while.
Coincidentally a number of car manufacturers are halting production for a couple of months. Partly due to nobody buying and partly due to the supply chain coming unstuck.
Same is happening with IG. spreads are now around ‘1’ minimum and open to 2 or 3 as soon as any of the politicos says anything. However if you look at the daily ATR it is quite large at the moment.
So … today all my positions are closed. 
I placed and order for Cable @ 1.1490 and was filled fractionally below there.
Then I went out shopping, and returned to find myself 45 pips ahead.
So I set a protective stop at 10 pips and sat down for dinner.
My stop activated … so I made 10 pips. 
Cable is pressured down, so I might have another go.
More irritating is that when the FED announced unlimited QE today the price of Gold and Silver shot up. Of course … I don’t have a position. 
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Sounds like you got it all under control, Ex. I have only been scalping this week and I swear, I make more money doing that than any the longer stuff – and when scalping don’t have to study charts, worry and scratch my ass waiting for things to happen. Only problem I’m having is getting filled at precise moment I hit the button as I now have my acceptance level at 1.4 pips. Continued good hunting, mate.
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