Last Friday as I was testing the market with real money, I got an answer from the market that Noble was indeed really weak. Of course, I went short with any price I could get. It wasn't the highest price on Friday, but doesn't matter because at least I was in short positions because I knew today(Monday) I could make money. Today, when the market first opened, I wanted to take it first thing in the morning at 1.375 - 1.38, but what happened was Cityindex platform was swinging from left to right and vice versa. It cost me some $$, because 1 pip was $1000. Did anyone of you experienced the same thing since last week? I was complaining non stop and still no resolution. Should we lodge a mass complain together?
Now like I said, I got no targeted price for Noble because I react to market conditions. When market conditions is weak, I better grab my profits first and observe further and vice versa. In my seminar, I told many that I don't stick levels and price targets in my mind, as it sort of crystallize my thoughts and it's hard to liberate from it. Maybe Noble will trend down later or it shall trend higher, whatever it is, I shall watch and take a position again but at least money in my pocket now.
Now I am here to not post my track record to show how much money I made or to show off. But I just want to be honest as being a real speculator as I do speculate everyday. The reason why I post my record is to show people my entry's and exit's and the speed of execution when it comes to cutting losses and taking profits. I do what I preach and that is I really have no target price levels. I REACT. By reacting, it allows me to be flexible and adapt to every single market conditions.
Ronald K - Market Psychologist - The Big Speculator
