Diary of a swing spread better

[Vaco]

We have it, two whole bars above the 100 MA.

But as I don't have an age old long position to fall back on, I stay aside.

Hmm this one looks like one for me to respond to...

You cant really take previous trades or trades placed using longer time frames into account when deciding to dip in or not, each trade has to be decided on its own merits.

The age old positions that i keep serve a purpose for me they make a profit and they stop me from placing my short term trades counter trend.

 

[hungvir]

Agree up to 80 per cent

 

[hungvir]

I had to take three point profit to go and read my son a story.

Talk to you guys later,

Hung

 

[chindl]

Out at 24, ten pips, she'll be a dipping now so someone fade me..

 

[chindl]

Told you!!!

 

[chindl]

May look again if we retrace to 130 (100ma on the minute chart), but it is doubtful whether the set up will occur..

 

[JillyB]

Jilly,

So who's going to make the market dance now ?

Well, you've chosen the right time to have a holiday. I don't know what to make of the market at the moment.

Enjoy it and tell us a tale or two when you're back! You're not going to Germany by any chance?! I can't imagine how crowded it'll be with the World Cup there in a few weeks.

Best,

Hung

Hi Hung,

I'm back - rather tired as the flight was overnight and we had to wait for our connecting flight to Guernsey this morning. Judging from what everyone has said about the weather here, I think we picked a good two weeks to go away.

Tenerife was hot and sunny - only on two mornings did we see clouds and they'd gone by 11.30am. :cheesy:

Doesn't look as if I've been missed! I mean over 30 pages on this thread in two weeks!!!- it's going to take me a day or so to get up to speed with what's been going on - unless anyone fancies giving me an edited version? (Please!)

I'm wondering if the Dow is starting to change trend. My Trading Plan has thrown up 6 new trades in 10 days - which is extremely unusual. Since October it's really been in a steady uptrend with only a few retracements. I'm just wondering if something more major is starting to rear it's head. I suppose it could always just be short term - the index is struggling with 11,100 area and seems to like to bounce of it. Will it hold? I don't know.

 

[hungvir]

Hi Jilly,

I am very glad to hear from you and that the holiday was fantastic. A colleague of mine went to Tenerife last Xmas and I was so envious that he was out there enjoying the sun while I was fighting the cold in London and still had to come to work immediately after Xmas.

No doubt you picked the right time to go on holiday (May be not if you miss the chance to short the DOW - it dropped some hundreds points since you went.) You were away so long that I forgot that you had been on holiday. Actually just thought about PMing you earlier today.

Regarding the 30 pages, well... I don't know how to give you a brief run down We have Chris and Elefteros coming to post here quite often along with Split, Chorlton and Jon,.... I don't think any of us is doing badly (Well, while you were away, I made two records - the most gains in one day - 130 points plus and the largest loss - more than 200 points ).

And I was recommended a few goodies. The 'Trading Day by Day' book by Chick Goslin, the free prorealtime software and a few other things.

Again glad to have you back to ''milk'' the DOW yet again

Best,

Hung

 

[hungvir]

As it happened, both of my trades earlier today were openned right before a trading range. I was fortunate to make 2 points from my long (I was stopped out) and 3 points from my short.

 

[hungvir]

Out at 24, ten pips, she'll be a dipping now so someone fade me..

Well done, Chris! I guess you haven't looked back to see where it is now

 

[Splitlink]

Thanks, Chris, for your remarks in today's post. So many pages back now, it's incredible how much is posted.

I bought BARC this morning at 594.1 and it closed at 617.5. I've got to handle it in the morning, though, so we'll see what the final profit will be.

Hope you have all had a good day- souinds exciting stuff!

Split

 

[JillyB]

Hi Jilly,

I am very glad to hear from you and that the holiday was fantastic. A colleague of mine went to Tenerife last Xmas and I was so envious that he was out there enjoying the sun while I was fighting the cold in London and still had to come to work immediately after Xmas.

No doubt you picked the right time to go on holiday (May be not if you miss the chance to short the DOW - it dropped some hundreds points since you went.) You were away so long that I forgot that you had been on holiday. Actually just thought about PMing you earlier today.

Regarding the 30 pages, well... I don't know how to give you a brief run down We have Chris and Elefteros coming to post here quite often along with Split, Chorlton and Jon,.... I don't think any of us is doing badly (Well, while you were away, I made two records - the most gains in one day - 130 points plus and the largest loss - more than 200 points ).

And I was recommended a few goodies. The 'Trading Day by Day' book by Chick Goslin, the free prorealtime software and a few other things.

Again glad to have you back to ''milk'' the DOW yet again

Best,

Hung

ProRealTime is excellent. I've been using their end of day data now for over a year. It's the same charts as CMC (they provide the feed to CMC), so it's easy to find your way around. Have you tried their free 7 day intraday data yet? It's worth having a go.

Yes, it seems I missed some good action on the Dow - but there will always be some more good falls and massive rises to come - that's the great thing with trading, it just carries on and there will always be another 'great' day!

I'll post tomorrow nearer the open time to let you know what the Trading Plan says for Thursday - that is, if it isn't another new trade!

 

[hungvir]

Thanks, Jilly! I save the 7 day trial option till I go to Bangkok. I won't be able to trade the DOW then and will switch to the FTSE.

I look forward to reading your comments here and in your journal.

Best,

Hung

 

[hungvir]

Thanks, Chris, for your remarks in today's post. So many pages back now, it's incredible how much is posted.

I bought BARC this morning at 594.1 and it closed at 617.5. I've got to handle it in the morning, though, so we'll see what the final profit will be.

Hope you have all had a good day- souinds exciting stuff!

Split

Split,

Now I officially accuse you of accusing me of spamming this board

Good one on BARC. With the DOW closing above 11160, I have every reason to close my REX short and you have every reason to be happy about BARC.

cheers,

Hung

 

[chindl]

No worries Split. And well done with BARC - lock in some profit and let the rest run!!! Never really traded UK issues as I always feel they're too sluggish. Maybe I should take another look someday.
Hung - I have indeed, looked at the chart. The market providing some insight into that bullish close by way of a buying opportunity at about 8.40 as it shot back over the 100 EMA from a short break previously. I had to sign some mortgage docs though, so had it in the corner of my eye but had to leave it.
Will try anlyse the day tomorrow morning when my charts upload. Overall, given the Fed minutes appeared to be a little bearish I feel the support offered at the 100 mark today is very positive and probably brings in divergence, certainly on the futures charts anyway. I feel the market priced in the minutes with the huge drop off yesterday.
Good night all.
Chris

 

[hungvir]

Tempted to go long the DOW now but successfully resisted it. I'll take my kids to Chessington tomorrow and won't be back until Saturday anyway. I'll watch Noddy instead of the DOW for the next two days for a change.

Have a good night everyone!

H

 

[hungvir]

No worries Split. And well done with BARC - lock in some profit and let the rest run!!! Never really traded UK issues as I always feel they're too sluggish. Maybe I should take another look someday.
Hung - I have indeed, looked at the chart. The market providing some insight into that bullish close by way of a buying opportunity at about 8.40 as it shot back over the 100 EMA from a short break previously. I had to sign some mortgage docs though, so had it in the corner of my eye but had to leave it.
Will try anlyse the day tomorrow morning when my charts upload. Overall, given the Fed minutes appeared to be a little bearish I feel the support offered at the 100 mark today is very positive and probably brings in divergence, certainly on the futures charts anyway. I feel the market priced in the minutes with the huge drop off yesterday.
Good night all.
Chris

Chris,

I love the way you cross-check news/markets :!: Keep them coming :!:

H

 

[chindl]

Heres a one min chart to show that last opportunity that was missed at about half eight. See how the 100 EMA is also on the turn as it passes back through on the pull back following the breach of the 100 EMA a short while earlier. Easy in hindsight hey. it also shows the divergence for my entry at about 7pm, I closed losing patience just before the dart south that lost me about fifteen points. Oh well, we live to fight another day.

Will turn my attentions to the futures market now and debate whether to hold crude or not on the back of that solid close from the daily low at $70. Probably close it for no profit, which is gutting when I had 140 pips yesterday. I did the very same thing with Gold last week, made 200+ and gave it back. What it is, before Xmas it used to take me a while for the trend to be identified and would go in early sometimes resulting in either a loss or a long drawn out hard worked trade for little profit. Since Xmas something clicked and I seem to be finding the market timing right, but not my exits cos I'm used to working them hard so am expecting them to move higher. Must improve that aspect and make more moola.

Good night all...

 

[Vaco]

who said dumb luck doesnt strike twice

Not a great month for me with only a 4.18% increase in capital, still cant complain better then a lose.

This months volatility has reminded me of the dot com years2000-2002!!

Watch your step guys and happy trading

 

[hungvir]

That's a great result, Elefteros!

Mind you Tesco is now lending at around 6% a year and you made more than 4 per cent in a month. Of course the difference is the risk element and consistency.

Chris,

How come you can concentrate on so many markets at a time?! I know it's great if you can afford to do that and I hope you don't lose sight of any of them

cheers,

Hung