Short the Dow
Decided to short the Dow March at 11127 with stop loss at 11157. It's been confined in the 11100-11130 range for the last few hours. I'll get out at 11100. I know the risk:reward ratio is pathetic and this is one of my 'impulse trades'.
I'll try not to make decision during the day.
Decided to short the Dow March at 11127 with stop loss at 11157. It's been confined in the 11100-11130 range for the last few hours. I'll get out at 11100. I know the risk:reward ratio is pathetic and this is one of my 'impulse trades'.
I'll try not to make decision during the day.
Splitlink said:
Hi Split,
Good decision! I got a small profit from shorting the Dow yesterday. Haven't checked my CMC account but the one with Worldspreads looks like this. I've decided to use them for index trading only. The spread for shares is too large compared to CMC at the moment. I do like them and hope there'll be improvement on this front soon. Their online trading plastform is one of the simplest and accessible both at home and work.
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Small loss
I am in the pink/red at CMC, but just. All stop loss orders are in place and I am not worried about these long positions.
It's understandable that my long positions would suffer, at least for a while when I just pocketed a bit from an index short position. A good hedge, though.
I am in the pink/red at CMC, but just. All stop loss orders are in place and I am not worried about these long positions.
It's understandable that my long positions would suffer, at least for a while when I just pocketed a bit from an index short position. A good hedge, though.
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No more trades today
I may not place any more trades today until I can find time to study the market. Went to bed early yesterday and did not have time to read in and look at charts. I believe that a bad night sleep can affect one's IQ so I always try to have enough sleep to stay sobber.
I may not place any more trades today until I can find time to study the market. Went to bed early yesterday and did not have time to read in and look at charts. I believe that a bad night sleep can affect one's IQ so I always try to have enough sleep to stay sobber.
barjon said:hung
hope it wasn't me that put you off
For me it was yet another case of my rules winning out over my opinions - when will I learn.
good trading
jon
Hi Jon,
Absolutely not.
I just did not make my decision right then and haven't found any good opportunity to short it since. I'll keep waiting
I am also looking for a chance to short AZN but it seems to head up these days. Is it still in your short stable?
Good trading
Hung
Long Dow and FTSE
It's true that price falls three times as fast as it rises. That show that people tend to overreact, especially to bad news.
So, I decided to go long the DOW at 1103 and the FTSE 5771. Stop loss orders haven't been placed yet. I don't actually see the need to at the moment
It's true that price falls three times as fast as it rises. That show that people tend to overreact, especially to bad news.
So, I decided to go long the DOW at 1103 and the FTSE 5771. Stop loss orders haven't been placed yet. I don't actually see the need to at the moment
Splitlink said:
Hi Split,
I agree that stop loss distance is folly in this case:
But I do have a mental stop to get out at a loss of 100 points maximum.Anyway, both indices have been moving in my favour so I'll move stop loss to break even.
Good talking to you.
Hung
Could not access T2W for a while. There had probably a problem with the server.
Stop sell orders have been placed for the FTSE and the DOW at 5798 and 11009 respectively. So far I haven't left any winning trades to become losing ones.
I can see that overreaction to Google's 'bad news' brought the market down yesterday but I don't see any truly good news for them to go up today. Well, except for Bush's surprise visit to Afghanistan.
May be there are just many people like myself who buy into the market at the level that they missed out once.
Best of luck to myself!
Stop sell orders have been placed for the FTSE and the DOW at 5798 and 11009 respectively. So far I haven't left any winning trades to become losing ones.
I can see that overreaction to Google's 'bad news' brought the market down yesterday but I don't see any truly good news for them to go up today. Well, except for Bush's surprise visit to Afghanistan.
May be there are just many people like myself who buy into the market at the level that they missed out once.
Best of luck to myself!
hungvir said:Hi Split,
I agree that stop loss distance is folly in this case:
Anyway, both indices have been moving in my favour so I'll move stop loss to break even.
Good talking to you.
Hung
Nice rise, Hung. Maybe I should disagree with you more often, to bring you good luck! Mine, SPW, is one of a very few going down, so I am pleased, too. Trying to find something else to add. What do you think of MKS, another pullback, like SPW? If REL would go down a little more
I might be tempted to go long again. A lot of my other favourites hit highs within the past 2/3 days, so I consider that today is too soon for pullbacks.
Split
Splitlink said:
Thanks, Split.
ADVFN hung up on me so I haven't had a chance to look at MKS yet. But well done on the SPW! Even better that it bucks today's up trend.
From what I read, people are expecting a choppy period in the next 2 or 3 weeks until the FED meets by the end of March. It's the case of no news trading or sort of.
By the way, the FTSE is holding its breath waiting the Dow's open. I'll probably take 50 quids profit later today and let the rest run.
Good trading
Hung
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