Day trading the DOW 17/03/03

[svengali]

FINS charts are non existant...

But would you use them if they existed? I have been thinking about charting the raw Fins data myself. It seems to me that using the Fins prices for a chart would give a more appropriate chart to trade off.

So are your reasons for not using Fins charts technical (you can't get any!) or philosophical?

Thanks,

-svengali

 

[ChartMan]

I did use D4Free charts (!!!!) for a long time with success. They reflected 100% their own "biased" pricing. So, by using thei support/trend lines, they worked very well. Their MA's were an absolute joke though. To be fair, they have now far improved software and so it may be that their MA is much better. Others that use D4Free will be better placed to give info. If FINS had charts, I'd use them to see where they put their support and resistance.( reflecting their bias).

 

[svengali]

If FINS had charts, I'd use them to see where they put their support and resistance.( reflecting their bias).

Excellent. In that case, I shall persue charting their prices rather than examining charts from another source.

Thanks for clarifying that. I'll let you know how I get on!

-svengali

 

[china white]

chartman,

it is quite amazing how similar out trading strategies are for the DJIA! however, I do prefer using 42 span for CCI, unlike yours of 150. I believe u get divergencies a lot more pronounced on a shorter span. Do u use 42 as well at all?

 

[ChartMan]

Idid for a while, but purely for evaluatiuon into some other possibilities. I was loking at the two values super imposed to see if they would produce reliable entry and exit signals. There seemed to be some merit in it, but I don't have time to persue it.

 

[darrenf]

I use d4f charts to base my trades on and the ma's seem Ok. You can choose ema or sma for periods of up to 100 and you can put several on a chart at the same time. They seem accurate but sometimes appear as a feint dotted line on the chart which can be a bit difficult to follow sometimes. Not sure why this is. Other than that it seems to work well.

The only criticism I would have is that you can't save the image of a chart, only print it. (unless anyone can tell me otherwise).

 

[JonnyT]

<i>The only criticism I would have is that you can't save the image of a chart, only print it. (unless anyone can tell me otherwise).</i>

Otherwise!

You can capture your screen using the PrintScreen key.

This image can then be pasted into paint or word or even better paintshop pro etc...

JonnyT

 

[darrenf]

Jonnyt

Mmmm! OK, so I am not the worlds best computer expert, but when I press the Print screen key, nothing happens.

could you explain this a little further if it's not too much trouble.

Cheers

 

[Newtron Bomb]

was just on here thought that i would put a quick 2 pence worht in. hope you dont mind JT.

press print screan, then in word, paint etc as JT mentioned go to edit and then paste. The image should then be pasted into whatever program you selected. Then you can select to save to disc.

hope this sorts it out for you

 

[Guesty]

Nice 1 newton,

ya learn something new every day here :cheesy: !

 

[china white]

quite a rubbish day to trade so far (unless of coz u shorted everything at Friday's close!)

 

[oatman]

Agree there, it killed me
It went the right way eventually but never broke and ran.

Be lucky

 

[bansir]

targets

Chartman,

Thanks for your explanation of how you set your exit targets.
It's something I've never paid much attention to in terms of the chart patterns; I've always set exits at a fixed no. of points away from the entry. Typically this would be 25 or 50 points. I'll review this now in light of your comment about target being a 'key weapon'.

Today the price action was poor but probably would have been good if one was playing a breakout game, similar to one of JonnyT's earlier systems. I guess there must be some merit then in running a couple of systems side by side?

Best Regards,
Neil

 

[oatman]

Darrenf,

I'm pretty useless on computers as well but I found this free newsletter quite good. Loads of it goes over my head, but there are plenty of straight forward tips as well. I only thought of it because I remember seeing that Print Screen tip in it.

Good luck

 

[svengali]

Just to complete the PrintScreen tip:

PrintScreen on its own: grab the screen to the clipboard.

Alt + PrintScreen: grab the active window to the clipboard.

Just grabbing the window means you don't have to edit the image to remove the extra junk like taskbars and desktop icons etc. Also it is easier to resize the window and then grab it if you want to post the image somewhere...

-svengali

 

[boxie]

Chartman, I have a few questions for you. On friday on the Dow, there was a rally - which was great, I thought the opposite would happen on friday and traders would not want to hold over the weekend. Then on monday the prices of the stocks on the U.S. markets opened lower than the prices they had closed at on friday. How does this happen? Also, if you can indulge me a bit more, I can see the war in Iraq is a big factor on the U.S. economy in general, and specifically the markets, but did people actually expect the war to last only one weekend? Is that why stocks were lower monday (yesterday)? Thanks for your help. Boxie

 

[ChartMan]

I'm not an analyst, but the reason for the drop ( I think) was the relativley bad news of progress over there. Beware, this current market will be heavily "news" driven. BOTH ways.

 

[Newtron Bomb]

Firstly thanks to Chart man for his excellent incite to his methodolgy of trading. I personally find it very interesting to see how other people trade and their logic for trading or not trading.

Anyway, a second thank you because having read and reread some of the entries for teh dow trading is has sparked of a few areas for condiseration to aid my trading.

I have also taken the posts from the board and put them into word, mainly so I could print them off so i wasn't spending more time than i prefered infornt of the computer.
Ive attached them so that otheres can read tehm with a bit more ease

 

[oatman]

On the news front, I was under the impression that a "short" war would last 4 to 6 weeks.
I can't hold my breath that long! Who can?

Good luck,

 

[Newtron Bomb]

Ruddy thing isn't let me put up last weeks doc!!

When i figure out whats up it'll be here