Sydney Pro Traders Legit???
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* Legit or not legit that is the question....*
https://www.meetup.com/Sydney-Pro-Traders-Learn-to-Trade-the-Markets/...
7 years ago
Wednesday, October 1, 2008
Tuesday, September 30, 2008
WHAT A DAY
With the DOW dropping over 700 points I knew the carnage would be felt today. Big loses were felt in AMP WBC TOL BLD all being stopped out while WOW made a little gain as I sold it out of the big slide in the Dow.
Could have gone either way though if they had pased the bill to bail out the banks and could have seen a different senario. But thats trading.
What I did notice over the last week when Short Selling was banned for a month , was it really did limit the system ,missing out on 2 possible winning trades. Even though they would have been at target point before todays selloff it would have made the figures look a bit healthier.
I will really have to consider my actions while this ban is on to whether it is viable to only Long Trade the system especially in a bear market because it has limited the earnings potential. The system has never neen tested in this enviroment but then again, a trader needs to be flexible to rise above the challenge.
Looking at the positive side though with the biggest losses in wall street in decades and our market sliding into a Bear Market the system is still trading in a profit. so we must keep trading away.
Could have gone either way though if they had pased the bill to bail out the banks and could have seen a different senario. But thats trading.
What I did notice over the last week when Short Selling was banned for a month , was it really did limit the system ,missing out on 2 possible winning trades. Even though they would have been at target point before todays selloff it would have made the figures look a bit healthier.
I will really have to consider my actions while this ban is on to whether it is viable to only Long Trade the system especially in a bear market because it has limited the earnings potential. The system has never neen tested in this enviroment but then again, a trader needs to be flexible to rise above the challenge.
Looking at the positive side though with the biggest losses in wall street in decades and our market sliding into a Bear Market the system is still trading in a profit. so we must keep trading away.
Monday, September 29, 2008
Friday, September 26, 2008
Stroke of Luck or potential disaster
Well this was a first...
I arrived home today expecting my STOP on AMP to be executed but instead it wasn't.
A message appeared in my message box that I was not permitted to SHORT SELL. mmm strange, I wasn't intending to sell short.
I rang my CFD Provider and asked why was the order classified as a short and he explained that because I didn't pair up my orders, I put 2 orders in 1 for my target and 1 for my stop, the program thought I was short selling and cancelled my order.
He then went on to teach me how to pair with an OCO order( One Cancels the Other) Exellent tool, but I hope come Monday that it won't turn out to be an expensive learning lesson.
Well all orders are reset to OCOs and so we continue with the trade.
Oh yeh.. AMP finnished on 6.88, the same as Thursdays close. That means I have another crack at it.
I arrived home today expecting my STOP on AMP to be executed but instead it wasn't.
A message appeared in my message box that I was not permitted to SHORT SELL. mmm strange, I wasn't intending to sell short.
I rang my CFD Provider and asked why was the order classified as a short and he explained that because I didn't pair up my orders, I put 2 orders in 1 for my target and 1 for my stop, the program thought I was short selling and cancelled my order.
He then went on to teach me how to pair with an OCO order( One Cancels the Other) Exellent tool, but I hope come Monday that it won't turn out to be an expensive learning lesson.
Well all orders are reset to OCOs and so we continue with the trade.
Oh yeh.. AMP finnished on 6.88, the same as Thursdays close. That means I have another crack at it.
Thursday, September 25, 2008
Wednesday, September 24, 2008
STO Target Met With $480.00 NETT Profit
Target met (19.28) on STO today with $480 nett Profit.
2 days in trade.
2 days in trade.
Tuesday, September 23, 2008
Monday, September 22, 2008
LONG AMP, WBC
These 2 entrys are a reminder why rule (2) in the system is so important when looking for an entry position.
RULE (2): ENTRY POINT IS 2.5% FROM PREVIOUS CLOSE.
RULE (3) IF ENTRY ISN"T MADE THAT DAY THE TRADE CLOSES.
Long AMP 7.18 - 1400 vol - Stop 6.82 - Target 7.54
Long WBC 24.13 - 420 vol - Stop 22.94 - Target 25.32
RULE (2): ENTRY POINT IS 2.5% FROM PREVIOUS CLOSE.
RULE (3) IF ENTRY ISN"T MADE THAT DAY THE TRADE CLOSES.
Long AMP 7.18 - 1400 vol - Stop 6.82 - Target 7.54
Long WBC 24.13 - 420 vol - Stop 22.94 - Target 25.32
AXA PROFIT $1066
Profit on AXA at open of $5.70 with nett profit $1066
Margin for this trade was $501 which represents over 200% return.
Margin for this trade was $501 which represents over 200% return.
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