JillyB said:
Is this for short term trading or longer term investing? Short term I stick to FT100. The others seem to have spreads that I don't like too much, probably because the trading is thinner, The Darvas system is a version of the double bottom trend change system, isn't it? I use that for investing longer term, i.e. actually buying shares, but the fundamentals have got to be good, too!
Split
This is one of those days. I'm down 0.3 of a point on HBOS. Will, probably, close it out within an hour. Yesterday I had a stop on at 950 and It triggered before going up. If I had had no stop I would still be long.Instead, I reversed, with no stop, yet, and no profit, either.
Split
Split
JillyB
Established member
- Messages
- 791
- Likes
- 38
Splitlink said:
Depends on your definition of short term trading - I'm looking at the end of day data, so it's certainly going to be a case of holding them for a few days, weeks, maybe even a month. This will all depend on the darvas theory and seeing how this works with the shares.
For instance yesterday IMT moved up outside it's previous range of 1745/1665(taken from ProReal Time EOD data, however CMC has the range as 1734/1665) and is now trading nicely above that. It seems that from here I can look to form another Darvas box built on top of the existing one, which is what I'm going to do. I'm going to follow this through on paper to see what happens.
Based on ProRealTime eod we have the following additional breakouts.
RB. 2139/2016 Broke below 2016
ETI 947.5/915.5 Broke above 947.5
PSON 790/762 Broke above 790
EMG 2617/2427 Broke above 2617
PSN 1365.5/1268 Broke above 1365.5
AVZ 562.5/519.5 Broke above 562.5
JillyB
Established member
- Messages
- 791
- Likes
- 38
hungvir said:
Don't be so hard on yourself - a profit is a profit! Better 2 points in your pocket than theirs.
I was long on the Dow at the open and scalped 5 points, then watched it go down and got back in again to go up. My trading plan had it to go up to the high of yesterday and above (it just didn't say by how much!). Great day though! :cheesy:
So I have been working for Finspread for a while now Each time I trade they make 8 points. This is outrageous but they're the only one having the system that meets my needs. CMC spreads are better but they don't take orders based on market price.
Each time I trade they make 8 points. This is outrageous but they're the only one having the system that meets my needs. CMC spreads are better but they don't take orders based on market price.JillyB said:Don't be so hard on yourself - a profit is a profit! Better 2 points in your pocket than theirs.
I was long on the Dow at the open and scalped 5 points, then watched it go down and got back in again to go up. My trading plan had it to go up to the high of yesterday and above (it just didn't say by how much!). Great day though! :cheesy:
Thanks, Jilly.
I know I should not day trade but I just can't help not to.
Glad to hear you've been having a good trading day!
H
I am also thinking of fiddling with the system I am using. Marc Rivalland says wait for three down days to buy (when the price starts to go up after that) in a bull market but I think a modification to just two down days in a roaring bull market like we're seeing now may be more suitable. Three down days are hard to find when people are so bullish.
Last edited:
Splitlink said:Stop moaning, Hung, I know you're minting it!
My short HBOS is just in profit by a few points.
Split
I did not mean to
But not making a lot of money in this market seems like a joke, isn't it. I would refrain from shorting in this market. A better time will come before autumn I believe.
Later,
Hung
Yes, it looks as if you are right on both counts. Take care this afternoon with the Dow. I'm off trading until Monday. Tomorrow, I have a 5 year old grandson's birhday. Expensive and exhausting- just like the markets. He knows what he wants and has rung up and told us.
Split
Split
Similar threads
