Diary of a swing spread better

[chindl]

Elefteros,



DA miniDow futures are open for electronic trading from 00:15 till 22:00 Mon - Fri (UK time BST)

Frugi, who do you use for DA to the e-mini, If you don't mind me asking?

Hung - the Big Chill comes with the Chindl recommendation, great gig and one of the few festivals in which families can really enjoy themselves. The family camping area is some way from the noise and is usually down this torch lit wooded area, and as you walk down it there's loads of animal noises playing, quite weird and really peaceful late on. A great gig and the venue is amazing.
Chris

 

[hungvir]

Cheers, Chris. I should give it a try next year then.

 

[Vaco]

this thread goes at a much slower and relaxed pace when your not trading hung 😉

I'm not great at reading candlesticks so someone point me in the right direction if i've got this wrong.

the daily candle today looks like a 'star' to me signalling the end of the recent move upwards.

the monthly pivot point is at 11079 whic was not breached today however i have i brought my stop/short trade in at 11075 based on todays daily candle.

Any thoughts??

 

[chindl]

Evening Eleft,
Without the reference material to hand, I believe a star would need to be a gap, up gap for an morning star and a downward gap for an evening star. Stars are reversal patterns, morning being at a top of a trend and evening being at the bottom of a trend. The daily ADVFN chart did not gap up today, looks more like a gravestone doji. See attached.
Chris

 

[hungvir]

We need a break here as well don't we 🙂 Believe it or not, I am learning Thai 🙂

Today's action was very interesting. Up, steady down (too steady for my liking), then up after a tripple bottom then down again.

In terms of daily chart, Fibonacci 'fanatics' would have made loads of money buying in at 62 and then 50 per cent level. We're now at 38. Should we buy?! I am willing to risk around 80 points and go long if today's high is taken out tomorrow from below.

Not sure about the star though. May be Chris can shed some light on that.

I stayed up till 2:30 yesterday in the office so will go to bed early.

Good night,

Hung

 

[hungvir]

There you go, Eleft. You have a star in Chris 🙂 He beat me again on touch typing.

 

[Vaco]

Evening Eleft,
Without the reference material to hand, I believe a star would need to be a gap, up gap for an morning star and a downward gap for an evening star. Stars are reversal patterns, morning being at a top of a trend and evening being at the bottom of a trend. The daily ADVFN chart did not gap up today, looks more like a gravestone doji. See attached.
Chris

i thought morning star was a 3 day pattern?,

also looking bearish the 2 previous candle 'dark cloud cover' maybe?

 

[chindl]

Hi Eleft

Firstly, you are correct, stars are generally completed on three price candles, except a shooting star, it does not require the third candle as confirmation. I attach a couple of examples and definitions from StockCharts.com for reference below.

The chart I posted shows a bearish engulfing pattern that devoloped on Friday, i.e., the range for Friday engulfed in total the previous days range and is bearish because it is black. It would have been bullish had the candle been white. Now, given the fact we also have a gravestone doji then, according to Nison's teachings, this should show that we should expect to have a bearish view in the coming days. Thats how I read it.

Chris

 

[Vaco]

thanks chris,

the confusion is due to john l. person's discription of a 'star' he describes it as been the same as an inverted hammer but signalling the end of a uptrend rather then a downtrend.

whatever way you, i, we look at it we both saw a downward move comming and its avoided a large loss as i'm now short from 11075 so 20pts loss on first trade using monthly pivots.

 

[Vaco]

wish this market would decide which way its gonna go....

also scrapped the monthly idea back to the weeklys which i know works, i dont have the paitence for the longer term.

 

[hungvir]

Today's fall was quite decent, wasn't it?! The bulls put up a good fight but always lost in the end.

I am only looking at the chart now as I had no time during the day. Am actually packing for the flight tomorrow.

By the way, I am doing a bit of investigative reporting here 🙂 I am trying to decipher these messages to see if we can say anything about the person on the receiving end. They're all from different cards/postcards.

Cheers,

H

1. I think this card has the perfect mixture of Lazy-fat-cat and lucky pants! If you remember your lucky pants, you'll have nothing to worry about on Wednesday! I'm sure you'll do excellently, but good luck anyway.

Lazy Cat xxx

2 Not that you'll need any luck!, but here's something which may give you more options when it comes to putting on some magic panties on Wednesday morning!
Hope they help - (...) xx

3. Dear ...

Thank you for being such a good friend to me when I really need a good one!

Thank you also for putting up with my less charming traits.

I hope you like your presents they were selected with much love! Just the thing for maths teachers to wear.

I wasn't brave enough to give you the birthday card I bought you but I like this card (can't think why).

I want you to know that you are very special to me.

(...) xxx

from one of your many secret admirers. You have a lovely **** and a not too bad personality. So you deserve a really special St Valentines card, but you'll have to make do with this.

(I would have been too embarrassed to buy anything too demonstrative).

xxx

Note: (...) = name removed

 

[dcarrigan]

Today's fall was quite decent, wasn't it?! The bulls put up a good fight but always lost in the end.

I am only looking at the chart now as I had no time during the day. Am actually packing for the flight tomorrow.

By the way, I am doing a bit of investigative reporting here 🙂 I am trying to decipher these messages to see if we can say anything about the person on the receiving end. They're all from different cards/postcards.

Cheers,

H

1. I think this card has the perfect mixture of Lazy-fat-cat and lucky pants! If you remember your lucky pants, you'll have nothing to worry about on Wednesday! I'm sure you'll do excellently, but good luck anyway.

Lazy Cat xxx

2 Not that you'll need any luck!, but here's something which may give you more options when it comes to putting on some magic panties on Wednesday morning!
Hope they help - (...) xx

3. Dear ...

Thank you for being such a good friend to me when I really need a good one!

Thank you also for putting up with my less charming traits.

I hope you like your presents they were selected with much love! Just the thing for maths teachers to wear.

I wasn't brave enough to give you the birthday card I bought you but I like this card (can't think why).

I want you to know that you are very special to me.

(...) xxx

from one of your many secret admirers. You have a lovely **** and a not too bad personality. So you deserve a really special St Valentines card, but you'll have to make do with this.

(I would have been too embarrassed to buy anything too demonstrative).

xxx

Note: (...) = name removed

al the best till your safe return. will miss your patter.

 

[hungvir]

And all the best to you! I should be able to post weekly if not daily 🙂 It may just be the right time to be away from the market though.

Good trading,

Hung

 

[chindl]

Thought I'd try and bring this back to life a little in Hung's absence. It's all gone very quiet.
Well - this market at the moment is untradeable. It is moving over ten points in a minute on some of these bars and I, for one, am not taking gambles on these moves. Seems to be a battle between the 50 and 60 mark, which incidentally seems to be just above 10800 on the future. Been switching over from 10800's to 10700's on the Sept for a couple of days now. Tough to call, and not able to trade anything this last few hours as a result of this volatility within a range....

 

[Vaco]

i got battered on thursday/friday,

got caught out switching back to the weeklys as greed and trying to over optimise the system kicked in, all i ended up doing was overtrading and getting wipsawed as i tried to trade breakouts in both directions.

So a bit of a mountain to climb now in order to end the month with a + we shal see what happens,

Next trade is looking like a long at 10820.

 

[chindl]

Looks like it's me an thee Elefteros.
You're not alone, been a bad few days myself, Wed, Thurs Fri and today have been negative days. I tend to be giving them back looking for killer late trades, last minute trades when in reality the computer should have been switched off. and the watering can being filled for the dust that was my lawn. Each of those days except Wed I have been in positive figures for the day until 8-15/30pm then I give it all back and usually some more on trying to get those last few points on offer. I need to stop trading after 8.30pm really. I got burned on that last spike up, as I was short and expecting one more dip before TP, but it just reversed and I gave back all I had made plus ten more.
Tomorrow is another day and I hope I am learning from these lessons that the market is giving me at this moment.
Cricket anyone - shame we could not take care of them today and bowl them out, declared too late and Plunkett should never have been bowling after tea. An earier dec and we may have had an opportunity with a new ball after tea, could have made the difference between a draw and a win.

 

[ammo]

tight range

Thought I'd try and bring this back to life a little in Hung's absence. It's all gone very quiet.
Well - this market at the moment is untradeable. It is moving over ten points in a minute on some of these bars and I, for one, am not taking gambles on these moves. Seems to be a battle between the 50 and 60 mark, which incidentally seems to be just above 10800 on the future. Been switching over from 10800's to 10700's on the Sept for a couple of days now. Tough to call, and not able to trade anything this last few hours as a result of this volatility within a range....

we,ve got bernanke speaking again on wednesday and thursday so tommorrow might be more of the same.i,m not afraid o short the top or buy the bottom and keep covering small profits thinking that we are range bound til wednsday

 

[Phil Mibbutz]

At least I wasn't the only one to make stupid mistakes late on Fri and give back everything, plus a bit more! Today I saw sense and stayed away.

 

[dcarrigan]

Looks like it's me an thee Elefteros.
You're not alone, been a bad few days myself, Wed, Thurs Fri and today have been negative days. I tend to be giving them back looking for killer late trades, last minute trades when in reality the computer should have been switched off. and the watering can being filled for the dust that was my lawn. Each of those days except Wed I have been in positive figures for the day until 8-15/30pm then I give it all back and usually some more on trying to get those last few points on offer. I need to stop trading after 8.30pm really. I got burned on that last spike up, as I was short and expecting one more dip before TP, but it just reversed and I gave back all I had made plus ten more.
Tomorrow is another day and I hope I am learning from these lessons that the market is giving me at this moment.
Cricket anyone - shame we could not take care of them today and bowl them out, declared too late and Plunkett should never have been bowling after tea. An earier dec and we may have had an opportunity with a new ball after tea, could have made the difference between a draw and a win.

good on you to keep thread going. just noticed. have sat right through this session dieing to trade but unable to. when it failed its rise early on i thought it was going to be a bad trading day. managed to sit on my hands just. was expecting fall into close .

 

[chindl]

Ah, so it's not only Eleft and myself being suckered at the moment!
The annoying thing is I was up to the tune of 24 points by 7-30pm, yesterday, 46 on Friday, 36 on Thursday. On all those days I gave back late in the session. AFter Friday I made a mental note to call it a day once 30 points to the good. Today I should have called it a day 6 short of the target.
The Dow is not the only market making life difficult at the moment. There are a very many counter trend moves on the go at the moment, strong trends in which various indicators predict long moves, but they don't follow through and reverse off. I for one will be keeping lighter positions on all markets until such time as the global events calm down a little, which we all hope will happen sooner rather than later don't we.
Have a good day.
Chris