PRU disappointed this morning. Bought to close although I feel that it could be a shorter once the Dow opens. I lost 5 points and was not prepared to lose more. There is a potential intra day head and shoulders that could complete. I got my timing wrong. I, also, closed DGE at break even.
Hope the rest of you have better luck this afternoon. T
Split
Hope the rest of you have better luck this afternoon. T
Split
My order to buy EMG was filled and I am up 20 points plus already.
Majority of shares in my basket had a good day today. MKS earned me some more points as well.
And I am thinking of increasing my capital and then stay true to the diversification rule of risking only two per cent per trade (I know one per cent is better but two per cent is not that bad after all).
What I am willing to risk is 25 quids per trade so the necessary capital will be £1250.
Majority of shares in my basket had a good day today. MKS earned me some more points as well.
And I am thinking of increasing my capital and then stay true to the diversification rule of risking only two per cent per trade (I know one per cent is better but two per cent is not that bad after all).
What I am willing to risk is 25 quids per trade so the necessary capital will be £1250.
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Lightning McQueen
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Splitlink said:
Hi Split
having a disastrous afternoon my Dow short has so far headed back deep into the red again I will see what happens in the last hour
Hi rols nice of you to drop by trading going well for you I hope
increasing your capital exposure Hung........, easy tiger
Don
don_h said:Hi Split
having a disastrous afternoon my Dow short has so far headed back deep into the red again I will see what happens in the last hour
Hi rols nice of you to drop by trading going well for you I hope
increasing your capital exposure Hung........, easy tiger
Don
Hi Don,
I think there're about hundreds if not thousands of points to be made from the FTSE in the next twelve months (from both long and short positions and more from the longs side, IMO). This is why I want to put more money into my accounts.
I wonder if you fancy a bit of backtesting using Marc Rivalland's method on the DOW. From what you've posted, I think you are very good at it.
Long whenever the price starts going up again (making higher high) after dropping for at least three days in an up trend (higher highs and higher lows). 'Inside' day when both the H and L lies within the previous bar is ignored. And if there's one day interuption to the upside but not by much, it will be ignored as well.
Short when the price starts coming down again after rising for at least three days in a down trend (lower highs and lower lows). Same rules apply to inside days and one day interruptions.
I assume the results should be very encouraging. How far back you want to go if all up to you. You can use this to complement your other way of trading. And the time frame for MR's method is much longer, from days to weeks and even to months.
Cheers,
Hung
Just found out that I was stopped out of MKS yesterday. Very strange but I bought June contract and CMC does not accept stops based on market price so I have no way to know if it was a fair deal or not. I am thinking of moving all my money there to Fins anyway so they help me to make it quicker.
And staying away from futures will save me from lots of surprises.
And staying away from futures will save me from lots of surprises.
hungvir said:
I have to add that for shorting, the 13 (or 21) expo moving average line should be heading down and the opposite is applied for going long.
And no short position should be openned when the 14 day RSI is oversold and no long position should be openned when the 14 day RSI is overbought.
Cheers,
Hung
rols
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don_h said:Hi Split
having a disastrous afternoon my Dow short has so far headed back deep into the red again I will see what happens in the last hour
Hi rols nice of you to drop by trading going well for you I hope
increasing your capital exposure Hung........, easy tiger
Don
Hi Don
I was long on YM yesterday +47. Once it had established itself on the pivot it had to be a LONG IMO. She's a moody mistress but a rewarding lover!
Seriously though, I keep an eye on pivots, big numbers and price (indicators IMO just confuse the eyes and the emotions), these are where the battles are won and lost. Many of my best trades on the DOW/YM are 'reverse if stopped out' trades so what the hell do I know! Also I guess I'm in slightly shorter time frames than you so all this is probably of no help at all!
The thing that put me off spread betting even though it has obvious benefits is that if you try to be an intuitive trader and 'tune in' to the market sentiment there is, at least for me, a feeling that I'm not a real player in the real market. There's enough smoke and mirrors in trading without having to add some more. Just my 2c...
hungvir said:
Hi Hung- I find this thread quite interesting and informative-thanks to all the contributors. My experience (8months) with Fins is- Fins quote the 'market price' for the future which is, I believe, equivalent (or very near) to the cash price for the instrument and I find it very useful for the entry and the stops; the 'our quote' price which they quote does not necessarily have a constant relationship with the cash price and quite often I have been caught off guard with the same. The only disadvantage, I find with the market price quotes is that the margin requirements increases quite a lot when I place the stop on the market price basis as opposed to placing an equivalent 'our quote' price stop. What is your experience in relation to placing market stops with Fins?
Lightning McQueen
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Hi Hung
Yes it will be good fun to have look at Marc's method I will post findings as soon as I have them.
I am very busy on my own uereka moment as last night while despairing at the Dow's rise I successfully got that BAT sonar ( the black swan cometh ) thingy to give signals on a 5 min chart and combined my trix strat with it, they compliment each other quite well and should improve entry / exit timing which was needed most urgently. I hope not to be in the same pickle in the future that im in now :cheesy:
Well done with EMG
Hi rols
Great going on the YM there rols. shes a moody mistress for me at present although another 30 more points down today and thats even ( I live in eternal hope here )
I looked at pivots after following yahoo's market commentary a while back and liked the way the price would stall and /or reverse at them. I purchased john carters trading the mini dow cd which explains the principles and calculations behind them. They are worth being aware of but I do not use them as such yet.
Indicators if used correctly can enhance the view given by the price IMO.
What a picture on the black swan thread very well done indeed
Hi Split
I see Hung has got the bit between his teeth again!
good trading all
Don
Yes it will be good fun to have look at Marc's method I will post findings as soon as I have them.
I am very busy on my own uereka moment as last night while despairing at the Dow's rise I successfully got that BAT sonar ( the black swan cometh ) thingy to give signals on a 5 min chart and combined my trix strat with it, they compliment each other quite well and should improve entry / exit timing which was needed most urgently. I hope not to be in the same pickle in the future that im in now :cheesy:
Well done with EMG
Hi rols
Great going on the YM there rols. shes a moody mistress for me at present although another 30 more points down today and thats even ( I live in eternal hope here )
I looked at pivots after following yahoo's market commentary a while back and liked the way the price would stall and /or reverse at them. I purchased john carters trading the mini dow cd which explains the principles and calculations behind them. They are worth being aware of but I do not use them as such yet.
Indicators if used correctly can enhance the view given by the price IMO.
What a picture on the black swan thread very well done indeed
Hi Split
I see Hung has got the bit between his teeth again!
good trading all
Don
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rajibde said:
Hi Rajibde,
Glad you like the thread. You have more experience with both spreadbetting and Fins than myself. And to be honest, I did not even notice the difference in margin requirement.
Fins does not offer the best spreads in the world but spread is not everything, isn't it. I don't think I can trust 'our quote' system. Furthermore, as a techincal trader, market price based orders are so important.
Good trading,
Hung
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