I have been trading derivitives since 2003 and have made my share of mistakes and paid in considerable school fees and costs. I have found two things to be watched costs and ranges, which are fundemental to making progress. This has been a good week with a capital outlay of R145 000 have been able to bank R35 000 profit in three days trading 5 alsi contracts. Here is hoping that next week brings similiar results. Still long two contracts over the weekend at a cost of 29235. Trying to cut out the noise and just trade the price as Simon always says. Any advise on reducing costs and scaling in and out would be greatly apreciated as the tip on trading gaps, crossing moving averages and engulfing candels has been most helpfull. To those who trade full time, hats off to you all for beating the odds and I am open to any advice on how to manage risk, money management and hope join the select few in achieving consistint returns.
Yes we all have our good days and weeks. So enjoy it. However if you have been trading for 8 years, I don't think those are the questions or advice you should be asking from us.In fact with the amount of money you making maybe you should be our tutor.
If you have been trading for 8 years - you should not be asking those questions. You should also know that a week is not a good reflection on whats to be done. If you are up for the eight years in total then its well done.