Stock Market Intraday Chat: Apr 23rd - 27th - Page 12

Drats, EURUSD been selling off without hitting my upper target first.

 

This 1.3180 support here, lets see if it sticks, if not I might have to start scaling in small to the downside, stop at 1.32 even.

Learning to trade can get very expensive, just make sure to use only risk capital, not money needed for daily expenses and to maintain your way of life.

As others have suggested, paper trading can help refine your strategy, although it's not entirely realistic.

In TVIX at $7.21.  The potential for volatility to pick up after a huge opening on the same day that Bernanke speaks makes it a safe play I think.

 

 

try Ristretto and Indriya. Best ones for me.

MPR you still short here? I'm wondering how long people are giving SPY to hold this gap/open level. It's held like a champ. Thinking we leg up again based on typical TA where holding a big gap on the open, holding the whole gap, is pretty good for continuation. Thinking about AAPL and SPY longs, but with FOMC coming there might be no fireworks until after, and of course after we have to wait for all the fake moves and to see if the market will yet again pout over Ben's lack of heroin injections.

Interesting tweet I found:

@AJInsight: Laszlo Birinyi's Fed day roadmap (based on 25 since '09): +0.43 bps, nearly all gains before noon, then mkt gives back entire gain next day

 

 

Pinky up? 

 

 

 

No change in rates, not a surprise...

 

 

Markets whipsawing, lets see what happens in 15min.

Zerohedge:

 

FOMC's Bag Of Tricks Surprises Again - Full Statement Redline FOMC's Bag Of Tricks Is Empty... For Now - Full Statement Redline

The FOMC statement once again had a little for everyone but critically lacked the all-important- "we'll print now and to infinity". Key headlines from the statement, via Bloomberg:

• *FED SAYS ECONOMY `EXPANDING MODERATELY'
• *FED SAYS INFLATION `HAS PICKED UP SOMEWHAT' ON ENERGY
• *FED SAYS GROWTH TO STAY MODERATE, `THEN TO PICK UP GRADUALLY'
• *LACKER DISSENTS FROM FOMC DECISION
• *FED SEES `SIGNIFICANT DOWNSIDE RISKS'
• *FED SEES `EXCEPTIONALLY LOW' RATES AT LEAST THROUGH LATE 2014

 

 

Yeah paper doesn't really do much for me, although I'll probably do more since I won't be busy with real trading for a while .

 

Obviously different for everyone, but with the expense of learning - is it reasonable to expect a LOT more learning cost above my $1750 I've about pissed away already, or more reasonable to start getting a better hang of it and not have to put too much more in. Pretty open ended question, but I'm curious to know what I may be looking at for the future.

 

AAPL now sporting a .00 for LOD and HOD, 606-618. Looks like this trick is broken short term as the volatility is high, ensuring that most of those big lots parked on .00s become the swings... worth noting.

 

 

Trade micro forex at $1 or even .10 a pip. Then you can learn live, while risking actual money.

It's all about the percentages from your strategy, not the money. 

jsteinm 1:

Yeah paper doesn't really do much for me, although I'll probably do more since I won't be busy with real trading for a while .

 

Obviously different for everyone, but with the expense of learning - is it reasonable to expect a LOT more learning cost above my $1750 I've about pissed away already, or more reasonable to start getting a better hang of it and not have to put too much more in. Pretty open ended question, but I'm curious to know what I may be looking at for the future.

 

Depends on how quickly you can pick up on the complexities of how the markets work.

Technical analysis is only as good as the user. Takes losing money to figure out what works and what doesn't work. What is fairly reliable and what is just hit and miss.

It's best to have a large enough of an account so that you don't risk more than 10% on any group of trades, yet are able to average out an adequate number of positions.

Bottom line, risk as little as possible while learning to trade correctly! Once you've done that, you still have to control your emotions, arrogance, greed, fear, impatience, otherwise you'll give back your gains.

Good Trading!

Projections of the US economy - to da moon!

 

As more and more troops come back, the market will rise and housing will recover. amirite? 

 

 

So far I've only been trading stocks, options, and spreads. I've been reading up some on Futures (I like that its 24hrs since I work daily as an engineer). If I trade micro forex, wouldn't commissions kill me at that level or are there not the same fee schedule like options? I'll definitely look into getting that enabled on my OX account. Thanks for the tip!

 

 

 

Commissions only kill if you make a bunch of trades. I try for daily swings so I usually only make 1 or 2 trades a day.  Futures are usually around $5 round trip. I'm not sure about forex but I believe

it's a little higher.

 

Trading Futures on 10 to 1 margin involves a lot of risk, be sure to have safeguards in place.

In a fast moving market, stops may be filled at a very bad price and you could incur losses much greater than your account size. And you will be held liable!

How is this company making money?

 

 

There stuff is so overly expensive, I would never shop there.

 

N.O. Explode was $59 or more, you get it for half price from almost any other online store.

Hydroxycut, protein powders, L-Glutamine... sky high prices at GNC.

 

 

 

Yeah I didn't want to really try and dabble in futures until I was doing better with options. I believe 1 point on the ES is $50 in or out of my account so I can see how fast that could turn to disaster!

 

Thanks for all the help guys! Happy Trading.

 

 

 

it's funny, because i feel the same way about apple.