If you ask me those questions you’re going to realise I know nothin.
Look with a wide trading range the hobby traders (me) don’t need to pick the very bottom or the very top of the range to trade profitably. Eg, from a .028 purchase the week prior I was lucky enough to close out at .038 as I was just to far away in the .039 queue. When RSI gets to the levels I touched on previously and the heat comes out of the buying and the sell side builds, it will normally drop a couple of pips quickly, then it’s just a matter of how far. This week was a bit retrace hence my comment re large range. I’m not used to getting those sorts of margins. A 10-15% gain is great for me.
The “real” traders would be great to watch at the moment. But you need to have the time, the hardware, the experience and be prepared to lose frequently. That’s where stop come into it.
It would be great if an experienced trader gave his views but I guess if you’ve been scanning the screens all day the last thing you’d want to do is scan these threads of a night.
Keep in mind all this doesn’t change the fundamentals of IMU which I have stated for months haven’t changed. If anything they’ve been strengthened of late. Although the funnymentals threads are fast becoming a waste of time with all the monotonous rubbish posted there. Where’s Meercat?
For now it’s a matter of where to re- enter, let’s see next Tuesday.
Cheers
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