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Online Share Trading

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all i see is RED

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Edge
Frequent Contributor
It'sthe red tide!
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22 REPLIES 22
shares
Contributor
ja of the Red Sea
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Not applicable
naa ppl, stop drinking or take some happy pills. This is the best time to start looking at buying like carzy again. Next week we gonna have a bumoer start to Dec ;-)
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Galuc
Super Contributor
Another percent or two drop is going to have my stop losses kick in fast and furiously!
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Not applicable
IMO ONLY,,, can the stops...if you have extra capital look at adding to the shares you have at these low levels. i know risk management etc but this is a storm in a tea cup and is gonna blow over and then you are gonna smile. Market just shaking out the smaller players in weak emotional state.
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SKALA
Super Contributor
Well, then I happen to be one of them. Now sitting with cash again and watch what shorts will give me. I think the tea cup might not be so small, so passop!
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Fredsed
Super Contributor
Froth blowing, just depends how much froth there is. Maybe the carry traders will shoo and go fire lighting somewhere else.
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cashing_in
Occasional Contributor
if i had cash rite about now I would be feasting. but freak.. i was long futures, and i got a margin call....it is what it is
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SimonPB
Valued Contributor
canning stops is always, and I mean always a bad idea .. yes it may make you money but trading is not about money, it is about discipline, and if you can stops then you are teaching yourself to be undisciplined .. an over time that equals money gone .. an of course that's not even mentioning those who ignored stops on ddt at R70 .. or topi at abve 30k etc ..
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SKALA
Super Contributor
Thanks for the encouragement Simon; appreciated. Ja, in past have ignored stops resulting in much greater loss. Also got stopped to see strong rise again, but all in the game. Added more SOL and happy about that.
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Not applicable
SImon, I will agree with you on the dicipline part but look what happened later in the afternoon....sometimes you just have to use gut feel rather that the system (I know you gonna say the system is everything and nothing else matters, but every rule has a grey line to be used very very very seldomly). If everyone jumped for the stops today they would have missed a great recovery angle and I think, stand under correction later on when US closes, but next week will see this market head straight back north so the "game" would have made you more sour. Again this is just my opinion so each to their own.
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Not applicable
Also, please dont get me wrong I did not mean can the stops indefinately only for today. Today was a strange panic to well maybe nothing. I am a strong believer and user of Stops, just you have to sometimes question...
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john_1
Super Contributor
CPS..1. if you have a longer term time frame a 3% drop should never be triggering stops...2. if you want to buy pull backs( a good thing a times) then develop a system and a stoploss stratergy that allows that..3. if you have and your stops are hit exit every time...4..repeat rule 3....5. if you are using gearing..use the gap closes to you advantage.. the gap on wed/thurdays required a drop to close so longs should be closed above or just inside the gap..and fridays drop required a rally to close its gap again shorts should be closed, prior to its closure..
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SimonPB
Valued Contributor
ignore your gut .. it is for eating, not trading .. and using friday as proof on how great your gut is is classic confirmation bias .. sure somwetimes it'll work, but that doesn't make it a good idea .. reality is that sometimes bad trading makes money and good trading looses money .. trick is that profit or loss is not what determines good trading, discipline determines good trading .. read "trading in the zone" ..
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Not applicable
Simon, tnx I agree. John, Tnx also. Both your posts say it better than i could. I was looking at the gaps and the "panic" over nothing serious. Dubai was media hype over something that has been know for quite a while now so ppl just paniced for zero reason (IMO just shaking weaker palyers out of their positions). Look at what is up today. Another big move so we gonna have another gap close?
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john_1
Super Contributor
I think there is a high chance
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Russ
Super Contributor
Isn't it better to set exits on closing prices rather than intraday prices?
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SimonPB
Valued Contributor
depends on trading strategy ..
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john_1
Super Contributor
how do trade a closing price?
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SimonPB
Valued Contributor
closing auction .. pre-empt at 4.48 .. opening auction ..
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