I've busy with other things, today, and have missed out on the good runs. At present I entered short at 6128 and am 4 up, having lost a previos 20 points on 3 trades, before. So I am having an indifferent morning.
Split
I've only ever traded indices....how does it compare to forex? I hear its more "trendy" than indices which i suppose would make it easier to grab points, especially with the ftse being a bit unpredictable at the moment anyway.
I've only ever traded indices....how does it compare to forex? I hear its more "trendy" than indices which i suppose would make it easier to grab points, especially with the ftse being a bit unpredictable at the moment anyway.
There's a competition going. Costs nothing, give it a try.
Split
damn , got it all wrong today, don't know why I went long just after 8am, Oscar is calling the SP up today, the Nikkei did reasonably well last night, and the FED guys are having a meeting today, I guess those are the reasons.
After going, long, short, short, long, short,short I have accumulated 1 point .. should've stayed in bed.
currently flat, maybe there'll be a surprise US interest rate cut later, ya never know
shorted earlier at 6090 cash stopped out to the point on my stop.
re-entered short at 90 and just out now at 65..maybe i should have held on? guess ill see later.
I'm working way too hard today and getting nowhere , currently +16 and flat but that's from 11 trades.
Now I am definately going to wait till the US open, damn (checks the FTSE chart) I closed my last short to soon.
That's working extremely hard though. 11 trades I wouldn't know where you got all those signals
I can only see only decent (safe) entry signal earlier on. Incidentally I've posted the chart in another thread because I could use some advice on exits, so anybody who'd like to have a look, check post #138 here: http://www.trade2win.com/boards/showthread.php?p=353098#post353098.
I have been looking at various technical indicators but have not found anything that works consistently enough. Well I can see the signals in retrospect for example check the MACD histogram on the chart attached, but I was not looking at the five minute chart.Probably it would only work with today's chart. Basically I am back to winging it until the next disaster.
You'll always find something that works at some point.
The clue is finding something that works most of the time and under different market circumstances. For me, it is basic price & volume.
Take today we had a sell-off from the open and a near-perfect 50% retracement swing up. So you could've shorted there witih a close stop in case you were wrong.
Later on the reversal down stopped at the previous swing (potential support) and showed a strong hammer which signals the long entry. Again a sharp entry with a tight stop would've got you in the move nice & early without much risk-exposure. Just my 2c.
FW,
hope this makes sense....
You'll always find something that works at some point.
The clue is finding something that works most of the time and under different market circumstances. For me, it is basic price & volume.
Take today we had a sell-off from the open and a near-perfect 50% retracement swing up. So you could've shorted there witih a close stop in case you were wrong.
Later on the reversal down stopped at the previous swing (potential support) and showed a strong hammer which signals the long entry. Again a sharp entry with a tight stop would've got you in the move nice & early without much risk-exposure. Just my 2c.
Useful stuff thanks. I have a tendency to try to jump on the first trend of the day, I might try waiting for reversal, trouble is the day I do will be the day the whatever instrument it is, will go one way only
One good trade on the DOW has fixed me for the day +40. it was touch and go, my twenty point stop was very nearly taken.:-0 Funny, my luck must be in, it usually does get taken
Not a bad call there for the close
We touched 6125 again...
hope someone traded it, I was too busy wrestling with the Dow. I don't find it any easier but I find out sooner if my trade is right or wrong.