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Commodity Trading Discussion Forum

Re: Something Fishy Going on/Ronbo

Posted By: Trades
Date: Thursday, 2 July 2009, at 9:01 p.m.

In Response To: Re: Something Fishy Going on (Ronbo)

Your welcome. But if you ever get rich and famous you can make me rich and famous as well,lol. I'm comfortable with the Silver position and buying right at support like I prefer to do so I know where the stop loss is even with a little leeway. Not much to lose if dead wrong. Buying breakouts spook the hell out of me as they can reverse end of day or even right after they breakout as they can be out of ammo right after the breakout and cant hold. Then the big question is where is the stop as the price is a long ways from support. By the time you give it some room below the breakout pt test and then it plunges it can get costly. The best patterns are a breakout and then a tight consolidation pattern that holds for a few days above the breakout pt. It doesn't get much better than that. The Dec Corn chart I posted was a perfect example of that for a short. Or Copper all the way up from early in the new year did it over and over again.

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