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Phil Mibbutz

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Personal Information

  • First Name
    TradersLaboratory.com
  • Last Name
    User
  • City
    UK
  • Country
    United Kingdom
  • Occupation
    Trapeze artist
  • Interests
    Losing money

Trading Information

  • Vendor
    No
  • Favorite Markets
    Indices
  • Trading Years
    8
  1. I found this post on "Re: All You Need... is a Chart" interesting and have nominated it accordingly for "Topic Of The Month January, 2009"
  2. Got that bit right. Just a pity about the timing...
  3. Yes, it's a nightmare out there, but when/if there's a bounce, it could be ginormous. I think the Plunge Protection squad (if they exist), will be be putting all their efforts into keeping the US market afloat today. There must be some money left, somewhere!
  4. As always, it depends on your style of trading, but in my case not trying to max out every move, a) reduces stress, and b) gives me more time to look for another trade that may have a better risk/reward factor, and/or do something else.
  5. No-one really wants to see a move continue after they've exited, but equally, no-one can ever hope to maximise the potential gain from every trade. After many years, I reached the stage of not caring too much, and accepting that taking a profit isn't a failure.
  6. Call me a wimp, but I've given up on bigger targets now, although sometimes a trailed stop on part of a position will keep going and give far more points than expected. btw, on the round number theme, take a look at how many times the Dow bounced off 11000 on yesterday's chart!
  7. Notice it also bounced off exactly 11000 on the way down. Both would have been worth about 20 points in a few minutes.
  8. Let's see if the Dow meets any resistance at 11000, then!
  9. Again, it depends on TF, but the same goes for 'technical' support and resistance levels, which are easy to draw on charts with hindsight, yet often fail when projected forward. All IMO, DYOR, WTFDIK, etc!
  10. As always, whether it matters much depends on the TF traded, but I think round numbers often act as S/R levels, partly because of the psychological effect, partly because orders are often set there. Once the round number barrier gives way, you get a bigger move.
  11. Good idea, FW. I'd virtually given up posting trades recently, partly because there didn't seem to be anyone else around.
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