Diary of a swing spread better

[hungvir]

Chris,

Looking back at the daily chart, it looks like there had been something that Nison would call 'pregnant bars' or something. I know the move today has been news driven mostly but what would the pregnant woman pattern would tell us?!

Thanks a lot,

Hung

Well, I just looked at the chart again and yesterday's bar seemed to be too big for a bum

 

[Slapshot]

Slaps,

Where do you get data for the DAX from?! And how is it different from the FTSE in terms of volatility?!

Thanks a lot,

Hung

Hi Hung,

I get the data through myTrack which I use with SierraChart. I'm not sure about the FTSE as I don't follow it closely. I find the daily moves on the Dax quite good so I follow that instead. Today for instance was a corker!

Cheers
Slaps

 

[hungvir]

Hi Hung,

I get the data through myTrack which I use with SierraChart. I'm not sure about the FTSE as I don't follow it closely. I find the daily moves on the Dax quite good so I follow that instead. Today for instance was a corker!

Cheers
Slaps

Great! I should have a look at it. Thank you!

One of the nice things about daytrading the DOW is we can get free feed from ADVFN and their chart is quite good as well. I don't know of any site that offers the same free realtime data for other indices. May be there's no such site.

Best,

Hung

 

[Slapshot]

Slaps,

I did not see a nice and clear tripple top there. And we kept seeing higher high (sort of) and higher low. It's still the case of the trend is your friend.

Cheers,

Hung

Yeah definately. The trigger was the triple top and the N/D on the RSI. Had I been long from the rocket at 7.15 the exit would have been the final peak of the 3 with the ND as confirmation. As it was it failed. I'm not going to worry to much as we've seen those drop more times than they haven't. Win some lose some I guess.

Cheers
Slaps

 

[chindl]

Completely agree with that Slaps, all in all small loss for the day, (I too took the Triple top failure) but not too worried as I traded the news rather than the plan and I know that on a more stable day that would not have been the case. I just fancied a play and it charged me a small premium of 20 points for the thrill, two cinema tickets on the amounts I placed today, and there's feck all on the cinema!

 

[hungvir]

Yeah definately. The trigger was the triple top and the N/D on the RSI. Had I been long from the rocket at 7.15 the exit would have been the final peak of the 3 with the ND as confirmation. As it was it failed. I'm not going to worry to much as we've seen those drop more times than they haven't. Win some lose some I guess.

Cheers
Slaps

And I assume on big news days we can't really argue with the market. We either go with the flow or stay out. There was nothing on the chart that really predicted that 100 move, was there?! We just needed to have gut to buy high to sell higher in such cases. And stakes should be small enough as they're very much speculative trades.

Best,

Hung

 

[Slapshot]

Great! I should have a look at it. Thank you!

One of the nice things about daytrading the DOW is we can get free feed from ADVFN and their chart is quite good as well. I don't know of any site that offers the same free realtime data for other indices. May be there's no such site.

Best,

Hung

That's great Hung, we like free

I'm not sure of another free site myself. I used to use www.prorealtime.com for EOD. I also used CMC's marketmaker software with it's live charting which was quite good. With ADVFN do you have to manually refresh or is it automatic?

Cheers

 

[hungvir]

... I just fancied a play and it charged me a small premium of 20 points for the thrill, two cinema tickets on the amounts I placed today, and there's feck all on the cinema!

So you won't be able to see 'United 93' then Here's a tagline for you my friend

September 11, 2001. Four planes were hijacked. Three of them reached their target. This is the story of the fourth.

 

[Slapshot]

And I assume on big news days we can't really argue with the market. We either go with the flow or stay out. There was nothing on the chart that really predicted that 100 move, was there?! We just needed to have gut to buy high to sell higher in such cases. And stakes should be small enough as they're very much speculative trades.

Best,

Hung

Absolutely. When I counter trend I always go smaller on my stake size purely because the risk is higher.

It was certainly interesting watching it unfold, I was watching £/$ at the time and it really took off, faster than the Dow.

 

[hungvir]

That's great Hung, we like free

I'm not sure of another free site myself. I used to use www.prorealtime.com for EOD. I also used CMC's marketmaker software with it's live charting which was quite good. With ADVFN do you have to manually refresh or is it automatic?

Cheers

It's 100 per cent automatic and I am still amazed that such thing exists. I've been using it to daytrade for some months now and have got a single problem. But I did not day trade everyday so I can't say for sure that it works all the time.

Cheers,

H

 

[rols]

Well, I just looked at the chart again and yesterday's bar seemed to be too big for a bum

Reminds me of a terrible joke....

Q: What did one birka clad lady say to the other birka clad lady?

A: Does my bomb look big in this?

 

[chindl]

Chris,

Looking back at the daily chart, it looks like there had been something that Nison would call 'pregnant bars' or something. I know the move today has been news driven mostly but what would the pregnant woman pattern would tell us?!

Thanks a lot,

Hung

An Harami you mean, in order for the Harami to form we would need a tight range tomorrow with a close quite near to the open and the tails within the bars of today's body. It would signal the potential change of trend. I'm not sure we'll see an harami tomorrow, I think the momentum has changed, this, according to Market Watch, was the biggest daily gain on all three indices since the Spring of 2003. I think that will continue tomorrow. As I posted earlier, there was a hammer on the Sept contract yesterday, like there was on the Copper Aug contract and that took off today as well. They will generally act as support, especially on a daily chart.

As for the chart predicting the move, the fact that it opened so high and has rallied for the previous day could have been a precursor for some. The only thing that would have stopped a big day today would have been a surprise hike, and the economy in the US is a little too unstable to take a surprise just now, especially with Crude rallying again on supply concerns and the slow home starts. So no surprise from Ben today.

Speak later.
Chris

 

[hungvir]

Rols,

No explanation will suffice here I did not get the joke Just tickled myself to laugh at it

Cheers,

Hung

 

[Vaco]

Eleft,

You should be glad that you took the loss as planned. It's been a whopping 215 point jump today. Did you go long at all?!

Cheers,

Hung

went long at 11100 closed and went short on the close at 11189.

89 pts in the bag

 

[hungvir]

Well done! Go and buy one more St. George's Cross Flag for the game on Saturday will you

 

[Slapshot]

Here's the chart.

As we can see the rises were getting shorter and shorter as it ran out of steam. I've circled two areas that were key in my decision to go short. Here the market is not decisively making a move back upwards it's kinda dilly-dallying around, the second one moreso than the first. As it was it moved on to 11190 but imo not very convincingly, I wouldn't be surprised to see a pull back tomorrow.

Enjoy

 

[hungvir]

An Harami you mean, in order for the Harami to form we would need a tight range tomorrow with a close quite near to the open and the tails within the bars of today's body. It would signal the potential change of trend. I'm not sure we'll see an harami tomorrow, I think the momentum has changed, this, according to Market Watch, was the biggest daily gain on all three indices since the Spring of 2003. I think that will continue tomorrow. As I posted earlier, there was a hammer on the Sept contract yesterday, like there was on the Copper Aug contract and that took off today as well. They will generally act as support, especially on a daily chart.

As for the chart predicting the move, the fact that it opened so high and has rallied for the previous day could have been a precursor for some. The only thing that would have stopped a big day today would have been a surprise hike, and the economy in the US is a little too unstable to take a surprise just now, especially with Crude rallying again on supply concerns and the slow home starts. So no surprise from Ben today.

Speak later.
Chris

Thanks a lot, Chris! I do not intend to predict tomorrow's candle though. I just thought Tuesday and Wednesday's candles could have made a harami but from you explained it was simply not the case.

Have a good night!

Hung

 

[Slapshot]

Here's the Cable chart, almost a 200 point move in 45 mins

 

[hungvir]

Here's the chart.

As we can see the rises were getting shorter and shorter as it ran out of steam. I've circled two areas that were key in my decision to go short. Here the market is not decisively making a move back upwards it's kinda dilly-dallying around, the second one moreso than the first. As it was it moved on to 11190 but imo not very convincingly, I wouldn't be surprised to see a pull back tomorrow.

Enjoy

Nice chart, Slaps!

There may be people who have completely missed today's action like me and will be hungry for a long trade tomorrow If so, don't bet on a pull back yet We never know though.

Good trading,

H

 

[chindl]

Here's the chart.

As we can see the rises were getting shorter and shorter as it ran out of steam. I've circled two areas that were key in my decision to go short. Here the market is not decisively making a move back upwards it's kinda dilly-dallying around, the second one moreso than the first. As it was it moved on to 11190 but imo not very convincingly, I wouldn't be surprised to see a pull back tomorrow.

Enjoy

Good chart again Slaps.
As for the pullback, it still closed on the highs, even if by only grinding there. That must be a positive?