My most recent trades seem to be doing OK, I am still not sure on gold as there has been massive swings??? so I’m glad I have kept out of that. Keep an eye on the Indices coming up to the festive period as apparently you can make long-term profits trading just those sort of dates every year. I had some junk mail come through the door today advertising a new get rich quick scheme, It appears to have come from a guy called Simon coulson but it smells of for a couple of scam artists called Andrew Reynolds And Tim Lowe, my advice to you is leave well alone, the only people that will make money out of anything Reynolds and Lowe are involved in is them. How ever good you think the sales copy sounds bin it because it will save you a fortune, you only fall for it because you need the money or want to believe it is going to help you, but one year later, a load of dvds , £6000 on the credit card for a **** seminar you’re even more skint. Be smart and leave it alone.
Moving averages are an invaluable tool trading the markets but especially so using the Vince Stanzione system, a great piece of advice from Mr. Stanzione is to run a lot longer moving average in the background to give you a good general direction of which way the market is moving. As you can see from this graph, the thick black line underneath the graph tells me that the long-term trend is up. Obviously very useful when taking a longer term view on any position.
I was stopped out of my gold trade after a drastic swing in price see graph. Vince Stanzione recommends using guaranteed stops when you start and that’s obviously good advice as it saves you money and also takes any emotion out of making a loss.
I have taken a couple of other positions.
Buy Wal Mart.
May also reverse my position on gold again once the system generates a sell signal which I think it is going to.
Vince Stanzione seems to be an avid reader and learner and has indeed recommended some excellent reading, one I have found really interesting although it is coming to the end of the year is Stock Trader’s Almanac, it’s not exactly a book that has loads of chapters as I suppose you can gather from the title, but it has some real gems inside and some fascinating facts and figures, for example there is a section showing the profits you could have made trading the holiday periods and that alone is amazing and easily worth the price of the Almanac. Definitely worth a read.
Gold has just generated another buy signal so I have reversed my position [Gold buy 1390] as it looks like it was just price correction and I think I should be in for some good profits on this next move? I am already over 20 points in profit following the system over the last few days. As you can see a clear buy signal was generated not long after the sell signal. It’s all ups and downs but I’m really enjoying it. I was stopped out on my Tesco’s trade but I have not reversed my position.
It’s been a really hectic week for me so apologies for the late update; I haven’t stopped with one thing or another. I have managed to keep an eye on my trades obviously but to be honest they do run on autopilot. Once you have entered and set your stop loss you can relax really. It does prove to me Vince stanzione is telling the truth in regard to how long he works because once you have learnt system just check your trades once a day and that’s it. So if you were a big trader making serious money you could truly enjoy your wealth.