All You Need To Trade Is To Get Up At 7am

[Upcomingstockmaster]

I am an extreme newbie. But on my account on Trad - demo - I have been watching the commodity 'Gold' for the last week or so.

Every day it has went above and below the starting point by at least 10-20 pips. I have therefore thought of something. Probably known to you all but would it work?

Say I get up at 7am - when Gold opens - and Sell. From my research, I feel its guaranteed that it will go below the starting price in the day by at least 10-20 pips, probably more. I keep watching the chart and when it does go below I buy back cheaper. Easy money?

 

[Hoggums]

I am an extreme newbie. But on my account on Trad - demo - I have been watching the commodity 'Gold' for the last week or so.

Every day it has went above and below the starting point by at least 10-20 pips. I have therefore thought of something. Probably known to you all but would it work?

Say I get up at 7am - when Gold opens - and Sell. From my research, I feel its guaranteed that it will go below the starting price in the day by at least 10-20 pips, probably more. I keep watching the chart and when it does go below I buy back cheaper. Easy money?

Have you considered if the price goes up 100+ pips above the starting point first - what do you do then? If you put a stoploss in then you need to look at how often that stoploss will get triggered before you hit your limit target. Without a stoploss how will a 200+ pip run northwards in the day without ever going down affect your profits - you'll need 10-20 days winnings in a row just to break even again.

Certainly try it in demo - but I think you'll find your "easy" money is not so easy after all - you'll probably profit for a week or two then blam - it's all gone in one big hit.

 

[fibonelli]

I am an extreme newbie. But on my account on Trad - demo - I have been watching the commodity 'Gold' for the last week or so.

Every day it has went above and below the starting point by at least 10-20 pips. I have therefore thought of something. Probably known to you all but would it work?

Say I get up at 7am - when Gold opens - and Sell. From my research, I feel its guaranteed that it will go below the starting price in the day by at least 10-20 pips, probably more. I keep watching the chart and when it does go below I buy back cheaper. Easy money?

careful with the daily headfake or you'll have your a$$ handed to you on a plate

 

[arabianights]

Two things:

1. A week isn't enough to learn anything much about a market. Certainly trading on the basis of a week's observation would be folly.

2. I get up at five. Should I be having a lie in?

 

[grantx]

Always heavy volume, usually rapid move in one direction on open at 7:00am for bund, bobl and schatz. Could just go with the flow for a rapid few points.

I think the heavy volume may be due to orders left in the system after previous close, or orders to buy/sell at open.

Grant.

 

[toxictrading]

"I feel its guaranteed" the day you think anything is guaranteed in trading is the day you get fully served with a rusty blunt instrument, yes it may work a couple of times and then you wil just get carried out on a stretcher

 

[trader_dante]

Always heavy volume, usually rapid move in one direction on open at 7:00am for bund, bobl and schatz. Could just go with the flow for a rapid few points.

I think the heavy volume may be due to orders left in the system after previous close, or orders to buy/sell at open.

Grant.

I'm gonna try this tomorrow.

 

[grantx]

TD,

Big gap up Friday but didn't seem to be sustained. Hope you left this one.

Grant.

 

[Upcomingstockmaster]

Made a 70 pip trade yesterday with this idea! Every day it has went below and above the starting price for about 3 weeks now.

Yesterday, it hadnt dropped below when I looked at it, and was well above the starting price, so I sold, confident it would inevitablely drop below, and it did, 70pips, although I probably could have held out for 80 but how was I to know.

 

[DC STOXX]

Made a 70 pip trade yesterday with this idea! Every day it has went below and above the starting price for about 3 weeks now.

Yesterday, it hadnt dropped below when I looked at it, and was well above the starting price, so I sold, confident it would inevitablely drop below, and it did, 70pips, although I probably could have held out for 80 but how was I to know.

This will work so long as you sort yourself a proper stop
otherwise one day
you wont have a house and your wife and kids will be gone all because of the futures market!