But not worth breaking too much of a sweat yet. But, if you’re interested, look at the longer time-frames. What do YOU guys think? Down? Up? It’s public knowledge that I’m still shorting (despite my disgracefully poor entry😁)
Aww go-on. Comment someone… Send me your bank-details and 3 digit credit card code and I’ll give you a tenner. (Joke, moderaters!!! Chill-out)
I want to publically thank @tommor and @MattyMoney for bothering to read this self-indulgent thread.
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Now you have one non-guy reading!
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Hi guys. Nil charts to post today. Still in the wasteland. Short timeframe trades keeping my head above water. My beady eye still watching for the pull-back. I’ll let you know when there’s anything worth telling you. 
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Short trade still on? How’s it going?
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Hi @forexforexforex It’s going OK. I’m pretty much evens, down to short time-frame trading, but i’ve not been rewarded yet on longer timeframes by pull back below that double diagonal I drew. If it goes much north I’ll have to go long instead, but I suspect the long-term trend (down) will be forgiving… We’ll see👍🏻
Once there’s been a convincing movement I’ll post me profits/losses.
Actually, I’m not evens. I’m down about £400
With copper being linked to building, I’d assume it’s a risk asset? Stocks just broke out and risk on looks to be back for now. Might be a nasty one to hold, and that chart looked so inviting
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Hi @chesterjohn, yeah you may well be right. If copper breaks above its 20 day MA (on 1d chart) then I think shorting copper will be a lost cause for a while. Personally, if it goes much above the 50MA on the 4 hrly I’ll be starting to go long. However, until then I’m sticking with the longterm trend down. It’s either right at the end of a huge downtrend and about to reverse, or it’s just an uptick/head-fake. Re copper cycle, I haven’t read the news for a while - has China just come out of lockdown or something?!!!
China will be the driving force behind copper, but I don’t know what’s going on there. They’ve made a right mess of covid and still are.
On the optimistic side, Wednesday often goes the opposite way to Monday and Tuesday if they have big moves, and we had a big move today. So maybe short stocks will be in play tomorrow.
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Last comment on copper before bed! Todays uptick just hit resistance of the 200sessiion MA on the weekly time frame and then retraced back. I reckon that’s a decent enough sign for now.
Not given up on the copper short just yet. If copper strikes north of the 20MA on the 1D chart then I prob will!
However, despite breaking out above the ceiling of the 4H down-tunnel I think this is prob not a true reversal.
I’ve not made any real money yet. I’ve made £600 from small time frames trading but paper losses will accrue until decisive swing down or up on longer timeframes.
This is how I trade. I try to predict the markets, am usually wrong, but as I am essentially a trend-follower the longer term market swings usually sort me out if that new trend (whatever it is) persists.
Not much finesse, but this ugly way of trading usually has a happy ending😁
My trading is ugly too. Don’t use indicators or patterns. Just watch price and go with what it’s doing. When I follow my rules of only entering at certain times, it makes far more than it loses although win rate sucks.
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Here’s to ugly trading!
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I could learn alot about trade entry. My profit : loss ratio is poor (about 0.5 or less). However, my win rate is very high, which gives me decent ROR.
There’s 2 ways to do it. High win rate or wins much bigger than losses. Both are fine. The problem with waiting for the perfect moment is that you don’t always get the retracement you hope for, and miss the boat. People more disciplined than me would wait
I agree no such thing as perfect moment. I never wait and I’m virtually always in a trade. Price moves against me all the time, but I’m never out of the market, which for my style of trading is an advantage. If I was able to trade more tactically / read the signs better then I would wait too - not knocking that. It’s just horses for courses.