Anyone shorting the Dow Jones? pt 2

[Doomberg]

How much are you guys expecting it to fall when/if it does?

Well, it will one day correct to lower than 10,000 but god knows when, i have took a few similar trades to the above "hoping" that it's time, after all risking 40p with a 4000p target would be a phenomenal trade, and once the top is found it's entirely possible. But right now, i'm looking for 100-200p unless a clear reversal starts... If i am honest, i am at a loss this year from trading, only by a couple of 1000 £ but that's still a loss

 

[jlian]

Well, it will one day correct to lower than 10,000 but god knows when, i have took a few similar trades to the above "hoping" that it's time...

Hoping to catch such reversals is similar to buy lotto and expecting to win. After huge losses in similar trading choices, I only target to realistic trades

 

[Brumby]

The "three bar rule" includes the breakout bar or it is referred to the three that follow after? thx

The three bar following. I can't remember precisely where it came from as it is many years ago.

 

[Brumby]

How much are you guys expecting it to fall when/if it does?

There is an EW view that currently we are seeing a wave d of an expanding triangle on a weekly basis - being part of a major wave 4 that began around 2000. If this interpretation is correct, then wave d will most likely be terminal once we pass 14950 and begin wave e that will end in my view around 5650 in 2014/15. It will be another GFC all over again.

For those Prechter sceptics - it is not from him. LOL.

 

[Raj736]

Hi guys,

I have a short on the DOW at 14590... i am absolutely crapping myself will it ever come back dow nto the 14600 mark??

I'm new to trading..... How how will it go...do i inject more money a ride it out or will it keep getting higher n higher n higher???

Advice please

 

[brewski1984]

Nobody knows where it will go but if you don't know what you're doing then you probably shouldn't be trading.

 

[Raj736]

Nobody knows where it will go but if you don't know what you're doing then you probably shouldn't be trading.

So your thinking to just pull out and take your losses??? Realistically thought its bounds to come down or not? even just to the 14700 level?

Whats the reversal i keep hearing about ?

Come on north korea needs to give us a scare!!

 

[Doomberg]

So your thinking to just pull out and take your losses??? Realistically thought its bounds to come down or not? even just to the 14700 level?

Whats the reversal i keep hearing about ?

Come on north korea needs to give us a scare!!

It happens on the 17th of this month, at 11:47 uk time

 

[brewski1984]

For what reason?

 

[Doomberg]

Lol that was sarcasm :clap:

 

[2be]

Hi guys,

I have a short on the DOW at 14590... i am absolutely crapping myself will it ever come back dow nto the 14600 mark??

I'm new to trading..... How how will it go...do i inject more money a ride it out or will it keep getting higher n higher n higher???

Advice please

there is no place for "hope" in profitable trading.
my advise is to cut your losses short.

If in a loosing trade you detect hope, get out and build a habit of doing so until you come to decision/s by thinking, and preferably thinking statistically instead of heuristic (mis)judgement/s.
So, in order to protect yourself abandon hope when you are in a loosing position, or get some more toilet paper as for sure more of it will be required.
May the statistical thinking lead you to some good profits.
Best wishes,
2be

 

[jlian]

Brumby, I have in my mind that particular EW count and it is promising, from a bearish perspective of course. And thanks God it is not Prechter's view, anything that comes from these crooks is a contrarian indicator

 

[Brumby]

Hi guys,

I have a short on the DOW at 14590... i am absolutely crapping myself will it ever come back dow nto the 14600 mark??

I'm new to trading..... How how will it go...do i inject more money a ride it out or will it keep getting higher n higher n higher???

Advice please

You don't have a plan for the basis of your short and neither you have an exit plan when things do not work. Lesson number one is you need to have a trade plan to guide your decision making before a trade is actually taken.

Since you don't have a plan, you should exit your position. Having said that, you should conduct a professional withdrawal to minimise your loss rather than just exit your position. The DJI has recently broken out from a high and has made potentially a short term exhaustion move. Currently it is far from its 21 MA and may be over stretched. Prices typically conduct a re-test of the breakout i.e. around 14700. This is probably your optimal point to exit to minimise your loss. If you are more aggressive, you can wait for a pullback to its 21 MA which carries more risk to your position because prices might go a long way before doing that. All the best.

 

[Doomberg]

Hola traders, not been online much and god i'm glad i didn't try holding any Dow short trades for a long time... my heart goes out to any who have been short throughout this thread. Anyway i'm back in, open 14797 stop 14837

Hope you are all well, i think this is worth a 40p risk for a 100-200p target

GLA, who's long and who's short? :clover:

Stops moved to 14880 and added to my short at 14821

 

[Splitlink]

Hi guys,

I have a short on the DOW at 14590... i am absolutely crapping myself will it ever come back dow nto the 14600 mark??

I'm new to trading..... How how will it go...do i inject more money a ride it out or will it keep getting higher n higher n higher???

Advice please

You are crapping yourself because you are trading the Dow?

I'm not criticising your trading style, because I don't know what it is, but I am asking myself why you are trading that index when you could be trading the SP until you get more cofidence?

I think that your main problem is that you thought that it would go down and you are frightened because it is reversing on you. Regardless of what people may think of spreadbetting, that is what you should be doing at this stage.

 

[Splitlink]

Hi guys,

I have a short on the DOW at 14590... i am absolutely crapping myself will it ever come back dow nto the 14600 mark??

I'm new to trading..... How how will it go...do i inject more money a ride it out or will it keep getting higher n higher n higher???

Advice please

You are crapping yourself because you are trading the Dow?

I'm not criticising your trading style, because I don't know what it is, but I am asking myself why you are trading that index when you could be trading the SP until you get more cofidence?

I think that your main problem is that you thought that it would go down and you are frightened because it is reversing on you. Regardless of what people may think of spreadbetting, that is what you should be doing at this stage.

The Dow is a very fierce animal.

 

[SlowlyButSurely]

DOW consistently making record highs.

I definitely would not be short, QE means the money has to go somewhere...and its feeding straight into the markets. As long as QE continues, inflation will see the indices carry on rising

 

[Doomberg]

DOW consistently making record highs.

I definitely would not be short, QE means the money has to go somewhere...and its feeding straight into the markets. As long as QE continues, inflation will see the indices carry on rising

Boll.ocks isn't it... if this reches 14880 then i'll be curled up in a ball to try and stop the pain

 

[2be]

Boll.ocks isn't it... if this reches 14880 then i'll be curled up in a ball to try and stop the pain

It is not Boll.ocks, it is called trend
There are lessons to learn even though one is on the wrong side of the market, mind you in this case the side might only be wrong if you were looking for the profits.
Many are looking for pain or excitement without which they are not too happy, and market has often obliged to provide exactly that!
Looks that it might soon provide that again.

Please do remember that market takes liquidity providers very seriously and is not too choosy to take big or small amount of money in a very efficient way.

 

[Doomberg]

Stopped at 80, it will probs fall 5000 points now lol... gonna go for food and alcohol, just lost a substantial sum