Finally in profit. Alot depends on whether stays south of my support/resistance diagonal. I’ll get the profit whatever, in the end, but if it takes too long then it agfects my ROR. Not complaining though. Any profit is nice!
This is Prob going to be a long old trade… Was hoping to get out before the w/e but prob not gonna happen, unless falls v sharply. If it’s a true reversal than going to be a slow plod long to even up my gains and losses amd then work towards profit.
Still got the potential resistance of the 20MA on the 1D chart to keep copper’s rise in check. I am aware that this may feel like wishful thinking, but i’m realistic. It’s 50:50 long or short at the moment.
False optimism is bad, but also so is excessive pessimism.
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Update before the week-end! I’m down about £1,800 at the moment. It might be a long-haul, this one…
I’m feeling relaxed though cos I’ve got a clear strategy and it’s not that unusual for me to be down £30-40K before eventually making it to good enough profit to justify that level of investment and risk.
The one thing that irks me is that overnight funding starts getting expensive. Out of all the profits I’ve ever made over the last 2 years about 15% of it has been lost to overnight funding.
Does anyone know which platforms have the cheapest overnight funding on shorts? If so please let me know!
Last minute news flash. Going into w/e with bit of a nice reversal. Only £600 down now. Have lovely w/e everyone!
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Hey everyone! So, I’ll be posting my profits once I’ve made some. Still, you’re traders - you’re patient…
What is false optimism? Like trying hard to think positive?
Holy wow what. I think I would legitimately die if I was down this much. But perhaps because I don’t have this kind of money either lol.
OMG you’re in the green! That’s freakin amazing!
No! I’m not in the green, I’m afraid…! I went short on copper pretty much at the bottom. It’s torn up since I started this trade. I’ve opened a couple of long positions now and long will be my main focus if it gets past the 50MA on the 4hrly chart (I think - can’t see my charts at the mo) where it has now settled. If gets above this I think copper will go all the way back to the top again. If it gets all the way I should hopefully make a nice bit. Likewise, if it starts to reverse again next week and continues down past the low 2weeks ago I’ll make something. However, until either scenario materialises it’ll be choppy waters for me doing lots of little trades to build up funds while accruing paper losses. I want a big, decisive move one way or the other. I’ll keep u posted. Suddenly markets seen happy again… no idea why😱
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I always seem to end up in this situation (wrong side of a big direction change) …. Happily, I’ve always managed to trade my way out of it and end up richer. Don’t ask me how… Here’s hoping I haven’t lost my touch!!
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You got this! How’s it going so far!
Getting better. Copper just broken down through some key support, so lets see what happens…
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What ticker do I check if I’m on TV? I just used HGU202 lol.
Hi all (or whoever still is interested…) Quick update. I’ve been in this trade for about 2 months (just over) and am about £5K down in real money. However, I have about £10K of unrealised profit, so I am basically hoping that the direction will continue to go down in price (copper) in which case in a week or a month I should be in about £10K + of real profit. I’ll go in whichever direction copper goes and with sensible money management I can follow the trend as far as it want to go (up or down). I’ll let you know when this happens! Long term I usually aim for about £1K real profit per week. Here’s hoping!
But, yeah, in real terms I have to be honest - I’m £5K down over 2 months.
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Copper just broke down through a massive diagonal resistance line, so there’s every reason for optimism!!
Hi @Blue2!
I only just this morning saw your thread (the title is so unassuming - you would never be good at writing headlines for the scandal newspapers!! 
).
I have never even looked at copper as a trading instrument, so your thread is very interesting! Also because it has a longer term aspect compared with most journals.
I’ll keep a watch on your progress here 
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Thanks @SovoS . I mostly just trade copper these days but same principles as FX. I find it more reliably cyclical and the volatility suits me well. I personally feel the trends are stronger. I also trade oil.
Huge fall in copper today. My -£5K unrealised losses fell to -£1K unrealised losses. We’ll see how this continues. If no reversal I could be out of this trade and £10K richer within a few weeks.
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