Diary of a swing spread better

[hungvir]

I like this rise. Very decisive.

 

[hungvir]

I could have used the trend line there as my entry/stop loss to go in the trade.

 

[hungvir]

I am long now. A bit early but will see how it goes. But I have a good place for my stop.

 

[hungvir]

Closed the trade losing 8 points.

 

[hungvir]

I went in the trade when previous bar's high had not been breached. And there had been only two down bars at that point, not three. May go long again.

 

[hungvir]

It looks like a head and shoulder pattern is being formed. Have to go now so will look at it later.

 

[Vaco]

the plan is for the dow to drop to 10785 where i will cover my short and go long, 10785 offeres support from the daily pivot points and the weekly.

 

[hungvir]

Hi Elefterso,

It looks like your plan worked out well. You made me curious about pivot points as well.

I came back too late to trade so I'll probably go and do something else before the DOW seduces me again

Have a good weekend mate!

Hung

 

[Vaco]

Thw dow couldn't break below the black line which is the daily pivot point unfortunatly this was not my target the green line further down was so i've closed the trade for a small 10 pt loss.

The close above 10900 yesterday and now almost certainly today has given me confidence we will c a rise next weekso i'm in long at 10920.

Enjoy the week end all

 

[hungvir]

Right, I just looked back and it indeed only came down to 10870.

Good luck with your long!

Later,

Hung

 

[chindl]

Thw dow couldn't break below the black line which is the daily pivot point unfortunatly this was not my target the green line further down was so i've closed the trade for a small 10 pt loss.

The close above 10900 yesterday and now almost certainly today has given me confidence we will c a rise next weekso i'm in long at 10920.

Enjoy the week end all

Quite a bit of news next week on the inflation front and the market may move on this. WHich way, who knows. It's so volatile out there at the moment, it does have the look of a top, but it will take some turning this market into anything resembling a big ginger snapping grizzly, at the moment the battle has just begun!! Currencies seemed to stagnate today and the Euro and Pound seems to have stopped the drop, with a DOJI no less although they did come off an high earlier in the session, which could be a little positive for the Dollar.
Anyways, off to bed, fecked after that day out!!
Have a good weekend folks.
Chris

 

[Vaco]

This week has really warn me out,

On reflection i traded badly although luckily it hasn't hit my pocket.

The worst sin for me this week has been to make trading decisions whilst the markets are open.

I forgot who I am which is an EOD Trader, this is what i'm good at and this is what i should stick too.

The other sin has been trying to catch more then one move per day which sends me back to sin one of trying to day trade

I'm gonna tell my wife to lock the pc next week and only give me the key after 9pm This will make her VERY happy :cheesy: and should also get my trading back to where it was a couple of weeks ago ( i feel i've been slipping slowly) u guys must be a bad influence Guess i'll be posting a little less often as a result but it should improve my trading.


Enjoy the weekend and i'll catch up on mon night.

 

[Splitlink]

This week has really warn me out,

On reflection i traded badly although luckily it hasn't hit my pocket.

The worst sin for me this week has been to make trading decisions whilst the markets are open.

I forgot who I am which is an EOD Trader, this is what i'm good at and this is what i should stick too.

The other sin has been trying to catch more then one move per day which sends me back to sin one of trying to day trade

I'm gonna tell my wife to lock the pc next week and only give me the key after 9pm This will make her VERY happy :cheesy: and should also get my trading back to where it was a couple of weeks ago ( i feel i've been slipping slowly) u guys must be a bad influence Guess i'll be posting a little less often as a result but it should improve my trading.


Enjoy the weekend and i'll catch up on mon night.

Yes, trading New York is a very unsociable occupation for the UK , which is why I only do London shares. Besides, most days I am by myself in the mornings.

Even though I select my stocks beforehand they, usually, have to get into position before I enter. That means watching them until entry and I use 30 or 60 min. charts for that. Perhaps I should use orders for this. Do you ? My problem is that the pattern can change and make the share not so attractive and, If you have a limit order on, you may not see that happening

Regards

Split

 

[chindl]

Volatile markets wear us all out. The reason being we feel that there is more to be made than is on offer cos the market is moving so much. The reality is that quite frequently people lose just as much if not more than they make in a volatile market when they day trade. I've not day traded at all this week. In fact, after taking my profits off the board early in the week I have stood aside. I will come back in next week. I will review the daily and weekly trends this week and see where I will be best positioned. Not sure if it's a top in the metals, but if not then their may be something there next week. There may also be a bargain or two in the currencies.
All the best and enjoyt this glorious weather.
Chris

 

[hungvir]

I think the market does not know where to go next so standing aside is probably a good position to have at the moment. The thing is it's hard to do so when you're in front of the computer

Elefteros,

If your method is a good one, it should work in any time frame, daily or intraday. It's just that making decision intraday is much harder than at the EOD. As such we need to be more disciplined when we day trade and only hit the buy/sell buttons when all the right conditions are satified. It's easier said than done but it will become a habit if we do it every so often I believe.

Enjoy the great weather! I am in the office but will be able to watch the game later today between England and Paraguay. Good luck to the team and I hope both Rooney and Gerrard will be fit enough to play.

Here's the countdown - http://news.bbc.co.uk/sport1/hi/football/world_cup_2006/4852606.stm

H

 

[Splitlink]

I consider myself to be an EOD trader but that does not stop me from, once having selected my share, from using an intraday chart the next morning to try to get my entry right. Once the trader has identified, what he believes could be, the high or low for the day, then he can enter knowing that he is close to where he thinks his stop should be, with a consequent reduction of risk to within a few points.

Waiting for a breakout to confirm has the disadvantage of increasing that stop distance and the risk. although, I admit, it might make for fewer trades. I'm not so sure about that, though.

On the 8th, I bought BARC for 605.5 (provoking a post from Jon) just before going to work and thought a stop 5 points below at 600.5 wouild be OK. The price just touched that and I was stopped but that was bad luck because the price rose the next day.

On Thursday, I thought that the daily EOD for NG. was ripe for a bounce and looked for a bottom on Friday's intraday charts. I bought at 591.6 and put a stop at 585. That has worked, so far, and I am in the trade for Monday. How far will it go? Maybe it will sink Monday morning, there's no way of telling, but my risk is 5.6 points which keeps me in the survival stakes until I get one right

Regards

Split

 

[hungvir]

Interesting approach, Split. I haven't thought about this. But it will be hard for me to follow because I can't always follow the market during the day.

And the market is a bit unstable at the moment and I really don't want to go to sleep with any position open.

Good trading,

Hung

 

[hungvir]

Is anyone here happy with the 1-0 win?! Well, we got three points but lost a bit of reputation isn't it. The Paraguayans put the ball in their own net.

The team's performance in the second half was pathetic and my studio manager here said it was all because of Sven who he said was ''only interested in sex''

But the heat was so intense there and I can see one more reason for the performance.

Cheers,

H

 

[Splitlink]

Interesting approach, Split. I haven't thought about this. But it will be hard for me to follow because I can't always follow the market during the day.

And the market is a bit unstable at the moment and I really don't want to go to sleep with any position open.

Good trading,

Hung

No, I admit that EOD is not for Dow index traders but is suitable for swing or position trading Footsie shares and, possibly, some other instrument that I don't know about.


Split

 

[barjon]

I consider myself to be an EOD trader but that does not stop me from, once having selected my share, from using an intraday chart the next morning to try to get my entry right. Once the trader has identified, what he believes could be, the high or low for the day, then he can enter knowing that he is close to where he thinks his stop should be, with a consequent reduction of risk to within a few points.

Waiting for a breakout to confirm has the disadvantage of increasing that stop distance and the risk. although, I admit, it might make for fewer trades. I'm not so sure about that, though.

On the 8th, I bought BARC for 605.5 (provoking a post from Jon) just before going to work and thought a stop 5 points below at 600.5 wouild be OK. The price just touched that and I was stopped but that was bad luck because the price rose the next day.

On Thursday, I thought that the daily EOD for NG. was ripe for a bounce and looked for a bottom on Friday's intraday charts. I bought at 591.6 and put a stop at 585. That has worked, so far, and I am in the trade for Monday. How far will it go? Maybe it will sink Monday morning, there's no way of telling, but my risk is 5.6 points which keeps me in the survival stakes until I get one right

Regards

Split

Blimey, you are living dangerously looking for the bounces during the current carnage, split - hope you've got gloves of steel to protect your fingers as you catch those falling knives :cheesy:

I must admit I'm a firm believer in that, if I worlk from eod, my entry is set from eod. Whenever I've tried to "fine tune" via intraday patterns I've just ended up confusing myself Nowadays I just wait for the early morning mayhem to clear then stick my orders in, subject to a few caveats (like if I'm going long the price must trade up through the entry point and not down to it).

That does suit me where I can determine entry quite clearly from eod, but I can see it might not suit what you're doing. Not quite sure what persuaded you about NG, particularly since things were a bit confused by going XD to the tune of 16p on Wednesday, so it's not obvious if you had an entry point in mind via eod or if intraday was the only option.

Anyway, just my twopennorth - let NG keeps moving the right way for you

good trading

jon