Comments on: Earthquake in Chile spooks the copper market http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/ Thoughts on the markets and the decline of the west Wed, 23 Nov 2011 08:33:17 +0000 http://wordpress.org/?v=2.6 By: Mike http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8647 Mike Tue, 02 Mar 2010 11:49:24 +0000 http://sovereignspeculator.com/?p=4034#comment-8647 That's one way to look at it! It happens to me a lot. I was lucky to get stopped out of copper friday, too, at 3.25ish. That’s one way to look at it! It happens to me a lot. I was lucky to get stopped out of copper friday, too, at 3.25ish.

]]> By: PEJ http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8644 PEJ Tue, 02 Mar 2010 10:37:51 +0000 http://sovereignspeculator.com/?p=4034#comment-8644 Well done then! One thing that you can ask yourself as a trader, is to close some trades with a profit ;-) Well done then! One thing that you can ask yourself as a trader, is to close some trades with a profit ;-)

]]> By: Graphite http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8643 Graphite Tue, 02 Mar 2010 10:30:21 +0000 http://sovereignspeculator.com/?p=4034#comment-8643 Well, given what eventually happened in copper I was actually fine with the way it played out! Lately I have taken to patting myself on the back if I wind up buying top tick or selling bottom tick with a stop loss. If it happens it probably means I was disciplined, had selected a good entry with the right direction for a trade, and very nearly put the stop loss wide enough to avoid getting tagged on a brief spike move. There's not much more you can ask of yourself as a trader than that. Well, given what eventually happened in copper I was actually fine with the way it played out!

Lately I have taken to patting myself on the back if I wind up buying top tick or selling bottom tick with a stop loss. If it happens it probably means I was disciplined, had selected a good entry with the right direction for a trade, and very nearly put the stop loss wide enough to avoid getting tagged on a brief spike move. There’s not much more you can ask of yourself as a trader than that.

]]> By: PEJ http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8642 PEJ Tue, 02 Mar 2010 08:38:40 +0000 http://sovereignspeculator.com/?p=4034#comment-8642 Yes, stop losses can be very frustrating. I shorted the Emini yesterday a couple of hours before the close. I set a tight stop because i didn't want to keep the position overnight at 1115.50 thinking it wouldn't breach the 1114 resistance. Result: beginner's mistake! it just went through the the resistance, enough to hit 1150.50 (and make the top for the day, touched only once...) before going back to beneath the resistance... stop losses need a lot of knowledge and skill to be used correctly, and i still need training. Yes, stop losses can be very frustrating. I shorted the Emini yesterday a couple of hours before the close. I set a tight stop because i didn’t want to keep the position overnight at 1115.50 thinking it wouldn’t breach the 1114 resistance. Result: beginner’s mistake! it just went through the the resistance, enough to hit 1150.50 (and make the top for the day, touched only once…) before going back to beneath the resistance…

stop losses need a lot of knowledge and skill to be used correctly, and i still need training.

]]> By: Graphite http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8639 Graphite Tue, 02 Mar 2010 01:56:35 +0000 http://sovereignspeculator.com/?p=4034#comment-8639 I was short on Friday and had a stop in at 3.2950. I bought THE top tick of the session and avoided yesterday's opening gap. Crazy. I was short on Friday and had a stop in at 3.2950. I bought THE top tick of the session and avoided yesterday’s opening gap. Crazy.

]]> By: PEJ http://sovereignspeculator.com/2010/02/28/earthquake-chile-copper-prices/#comment-8636 PEJ Mon, 01 Mar 2010 21:36:09 +0000 http://sovereignspeculator.com/?p=4034#comment-8636 good point. I've been looking for an entry point in the short base metal trade, and it looks like patience pays! good point. I’ve been looking for an entry point in the short base metal trade, and it looks like patience pays!

]]>