Came home to see the DOW having dropped some 80 points and trying to head up. I have no idea where it's going to go next. A buy when the trend line was broken would have brought in around 20 points.
Will have to go to work now and my daughter keeps saying 'Daddy, let me have a go please!' while am typing this.
Later,
Hung
Will have to go to work now and my daughter keeps saying 'Daddy, let me have a go please!' while am typing this.
Later,
Hung
Attachments
Out of the short at break even. Funny that both trades showed a bit of a profit then just went the other way. Should have moved my stop to break even for the first trade as well. But greed intefered 
But I like Finspreads way of handling orders. I am thinking of using them as my only bookie.
But I like Finspreads way of handling orders. I am thinking of using them as my only bookie.
Attachments
Apart from the 80 point plus fall in the first 75 minutes or so, the DOW had no directions for the rest of the day. The channel was too narrow to make a profit and the breaking out of the channel was a false move.
I will still stick to my tight stop loss to preserve my capital.
Entries can be improved a bit more.
I will still stick to my tight stop loss to preserve my capital.
Entries can be improved a bit more.
Attachments
hungvir said:
My opinion on BLT is that, for an EOD trader yesterday's fall was too far, too fast, to chase, especially since it has to go through Tuesday's support. History shows that there will be a pullback towards the high, probably within a day or so.. I would calculate where to put my stop, then wait for the price to riise to a reasonable risk entry point. If it doesn't and you miss it, hard luck, there's always another share.
Splitlink said:
Hi Split,
I put a limit sell order for BLT above its most recent day high the other day. It looks like placing a stop sell below the most recent day low to capture some 15 points intraday seems more sensible.
BLT and other trades made me want to become a buy and hold
Majority of my trades became winners the instance I was stopped out. But I know there'll be a day when the market really makes its mind up about going up or down and that's why I still trust stop loss (or stop win at the mo )Best,
Hung
It's so quiet here today on T2W. Hope you all are enjoying your weekend. And I know there's at least one trader busy dancing at the moment
Just read an interesting article in the FT with the title 'Equities pay scant attention to thoughts of bubble territory.'
Interestingly it noted that the first boom in the London stock market dated back to 1691 when money was raised to aid efforts to search for shipwrecked treasure. Some of the brave people were said to have been rewarded £5000 for every £100 invested when a haul of gold was found. That first boom was said to last till 1694, roughly the same length of the current one.
It's a reassuring reading to the bulls as it says there hasn't been a fever of mergers in which companies use their own 'overly-inflated' share price as payment (a warning sign of a bubble boom). And UK equities are trading on roughly 13 times 2006 earnings.
For me the most important thing in it is MKS will issue a trading statement this coming Tuesday. My stop loss is in place but being stopped out was not the reason I longed it
Best,
Hung
Just read an interesting article in the FT with the title 'Equities pay scant attention to thoughts of bubble territory.'
Interestingly it noted that the first boom in the London stock market dated back to 1691 when money was raised to aid efforts to search for shipwrecked treasure. Some of the brave people were said to have been rewarded £5000 for every £100 invested when a haul of gold was found. That first boom was said to last till 1694, roughly the same length of the current one.
It's a reassuring reading to the bulls as it says there hasn't been a fever of mergers in which companies use their own 'overly-inflated' share price as payment (a warning sign of a bubble boom). And UK equities are trading on roughly 13 times 2006 earnings.
For me the most important thing in it is MKS will issue a trading statement this coming Tuesday. My stop loss is in place but being stopped out was not the reason I longed it
Best,
Hung
hungvir said:It's so quiet here today on T2W. Hope you all are enjoying your weekend. And I know there's at least one trader busy dancing at the moment
Just read an interesting article in the FT with the title 'Equities pay scant attention to thoughts of bubble territory.'
Interestingly it noted that the first boom in the London stock market dated back to 1691 when money was raised to aid efforts to search for shipwrecked treasure. Some of the brave people were said to have been rewarded £5000 for every £100 invested when a haul of gold was found. That first boom was said to last till 1694, roughly the same length of the current one.
It's a reassuring reading to the bulls as it says there hasn't been a fever of mergers in which companies use their own 'overly-inflated' share price as payment (a warning sign of a bubble boom). And UK equities are trading on roughly 13 times 2006 earnings.
For me the most important thing in it is MKS will issue a trading statement this coming Tuesday. My stop loss is in place but being stopped out was not the reason I longed it
Best,
Hung
Well, according to Sharescope, the MKS EPS is supposed to rise 40% on last year but, looking ahead to the next a 12% growth is forecast. In my book, that makes them fully valued. Looking at the chart, the top was two to three weeks ago and there have been a couple of pullbacks since,
You must feel that the low of 28th March was a trend turn and it might be, but I'm not so sure, although, with figures like that it, probably won't go into a steep decline, either.
Anyway, good luck with it.
Split
Last edited:
Similar threads
