stagger:

Well, believe it or not, my first ever DJ 30 trade (Dow) ended up as a success. Closed out 250 pips from my Entry Limit Sell on 10800 set on Friday.

Not bad for a DJ rookie! I still dey watch am small small.

naijababe:

Illeet, smithereen and Odiaero, can i get some civility please, enough of the insults.

Now, onto business of the day, I just woke up couldn't be bothered to get up at 730am.

Meshpips, you assertion on Gold is wrong; 1 pip on gold is the same as 1 pip you would get in EU or AU. Until 2008, gold wasn't a volatile instrument; silver on the other hand was and remains very volatile. When the financial crisis hit, gold went from gaining $10-$20 a day to gaining tens of $s a day, most spreadbetting brokers adjusted their trading requirements such as minimum trading (minimum reduced it from £10/pip to £1/pip).

Before the financial crisis, i traded gold with as little as 10 pip SLs (that's to give you an idea of how lukewarm its volatility was back then), the global financial crisis meant that all fiat currencies are considered paper money and investors expect inflation to reduce their values massively in the long term, therefore the astute started moving into it in 2007 when stocks, other commodities were at the peak of their bubble.

Keni, one pip of silver = one GU, but is even more volatile than gold, please don't trade any of the metals if you are unable to use stop losses in the 100s. (Please read my previous post to honeric)

jay bee:

Thou shall not trade DJIA if you don't have enough money for support.
Trade Dax 30 with even more care as it's not unusual for the indices to move 200 points either direction daily.

Anyone on soft commodities?

jay bee:

Thou shall not trade DJIA if you don't have enough money for support.
Trade Dax 30 with even more care as it's not unusual for the indices to move 200 points either direction daily.

Anyone on soft commodities?

naijababe:

Again, another wrong assertion, the current volatility on indices due to the European crisis. Before now average  daily moves on the Dax/Dow was around  70/90. High volatility now is just another way for me to profit especially when forex isn't delivering the goods

jay bee:

Been trading dax since the days of 4K ('05) FTSE is the only major indices with low volatility due to it's heavy weighting on financials and commodity.
Dax/Dow is highly correlated with manufacturing coys hence the great volatility during the earthquake in Japan.

jay bee:

Thou shall not trade DJIA if you don't have enough money for support.
Trade Dax 30 with even more care as it's not unusual for the indices to move 200 points either direction daily.

Anyone on soft commodities?

honeric01:

Hey bro, welcome! A big THANK YOU for the unmeasured help you gave me about 3 wks ago, you just wont understand how important that help was to me. I'm so grateful, i finished up last wk saturday. I am grateful once more, everyone make una help me thank this bro of ours.

jay bee:

what's 1% percentage movement in Dow? Isn't it over 100 pips?

Dax moves with dow. Been trading it long enuff to know that. Have you ever been in it pre lehman during FOMC minute release ?

Do you actually know the data that moves dax?

I'm trying to get the historical data to so i can give u the accurate figure.

leopower:

gud morning fellow traders, hw was da nite?
@namdo, asking abt fundamentals effect is not an high jump to me, cos u will agree with me that the market is been driven mostly by NEWS for almost 2 month now.
@better traders, lets talk abt (1) trend line, (2) daily pivot point, (3) MAs (4) etc,   

illeet:

@ Odiabo
TRUCE: I guess the truth (word) hurts even though CLOWN was said in a light mood. Okay ‘old man’ (didn’t know you were my dad’s age; never catching me upsetting a grey-head). If you promise to stop insulting others impulsively and focus on trade ALERTS like you are now doing (instead of helping to turn this into a trade SHOW) so that successful newbie’s like myself can have an abundance of tips to sift from then we’re quits. I really have to go; got loads of work. So ‘old man’ if you’ll stop coming back at me I can get on with my program and maybe share some trading ideas in about two-month’s time if my little trading method still hold’s up. For now I have never made a loss!

Okay we can end it here and now.

jay bee:

Here u go Naijababe

odiaero:

Are we there yet?, am selling Gold now, @ naijababe, i hope to make 600pips from 1614

jay bee:

Why ignore the big events when it's clearly what makes the vix index go a-wire.
And what's the difference between 90 and 100 in the scheme of things?
Ain't 0.1 negligible any more in stats?
Smarty pants u r

odiaero:

Are we there yet?, am selling Gold now, @ naijababe, i hope to make 600pips from 1614

naijababe:

On the way dude. I was stopped out on my buy trade with 1 pip loss, lucky i moved the quickly enough. i for don dey vex now.

odiaero:

Ok, just scalped up, only 320 pips on  gold today, i still dey vex, imagine 1300 pips, and am not here to enter trade

naijababe:

Cool down now. All the ones wey u don dey chop since nko?