catracho
Well-known member
- Messages
- 355
- Likes
- 34
NDX looks like 1865 is the area to watch...then the obvious 1850 level...that held the rally twice before the break out in mid April..
NDX looks like 1865 is the area to watch...then the obvious 1850 level...that held the rally twice before the break out in mid April..
shortorlong
Established member
- Messages
- 659
- Likes
- 28
this is good stuff to learn from .. but bad luck for you LL .. commiserations .. paper trade till you get it right??
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
And I Dont ****ing Believe It- I Just Sold A Low.
Well, maybe not. It could go lower than 50 and the point is the trade was a loser, which I cut when I found my balls. I didn't sit around hoping, I guess that is the main thing.
Expensive lessons here. I'm going to find out if I have a future in trading somewhere within the next £240. Given the Dow margin requirement of 100, that gives me 140 pips to play with. Perhaps the Dax or FTSE would be more appropriate to recover my losses.
Quick straw poll: how long did it take each of you to become profitable? Am I going through a natural learning process, or am I just not suited to trading? Opinions welcome.
Should I set myself a target of making +10 pips a day from the FTSE or Dax and forget high volatility markets like the Dow?
The Dow has fallen over 160 pips today, and I've managed to make another loss.
Taking tomorrow, Saturday, Sunday, and maybe even Monday off. Most likely just paper trading from Tuesday onwards.
This is beginning to properly hurt. I've only lost £260 of my initial £500, but it seems like much more. I am now caught up with feelings of failure, combined with the omnipresent fear that I can never be successful in this line of work.
I'm waffling now, and this doesn't have much to do with the Dow. I also suspect that nothing above will surprise the vast majority of you.
Well, maybe not. It could go lower than 50 and the point is the trade was a loser, which I cut when I found my balls. I didn't sit around hoping, I guess that is the main thing.
Expensive lessons here. I'm going to find out if I have a future in trading somewhere within the next £240. Given the Dow margin requirement of 100, that gives me 140 pips to play with. Perhaps the Dax or FTSE would be more appropriate to recover my losses.
Quick straw poll: how long did it take each of you to become profitable? Am I going through a natural learning process, or am I just not suited to trading? Opinions welcome.
Should I set myself a target of making +10 pips a day from the FTSE or Dax and forget high volatility markets like the Dow?
The Dow has fallen over 160 pips today, and I've managed to make another loss.
Taking tomorrow, Saturday, Sunday, and maybe even Monday off. Most likely just paper trading from Tuesday onwards.
This is beginning to properly hurt. I've only lost £260 of my initial £500, but it seems like much more. I am now caught up with feelings of failure, combined with the omnipresent fear that I can never be successful in this line of work.
I'm waffling now, and this doesn't have much to do with the Dow. I also suspect that nothing above will surprise the vast majority of you.
Depends how weak this market is today....volume is big going down...so may see so called bargain buyers back in around now till just after 8ish...otherwise just trend lower until 8.20ish,shorts cover so we get a bounce up,then down more.....back above 480 and we may rally
hobby
Active member
- Messages
- 146
- Likes
- 10
U must be
well done hobby
Thanks! Yep, as per my game plan I shorted the DAX at 7765 (about 10-15 mins after the US housing figures)...a bit worrying at the time cost it had gone a bit mental at getting to that level!
...still holding
(though considering closing out presently as I can't decide whether we'll see a bounce back or further tankage)
Alas not big spondoolies per point, but hey lots of points!
Edit 19:59hrs: Just caught that spike down...closed at 7670 ...for +95 points.
Last edited:
Cheers and well played once again...
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Oh - when I have had successful periods, they have generally lasted some time. I was most successful trading with TradIndex, mostly using their chart which shows price only. I was getting in some great swings, and taking a small fortune out the Dow against a 5 point spread.
Could trying to trade mechanically with a bunch of indicators and graphs be the problem, or am I finding excuses not to take responsibility for my poor trading?
Dinos, the smart thing to do would have been to hold it, however I exited because the trade had gone wrong. Keeping it open because I had inadvertently given myself £2pp exposure instead of £1pp exposure would have been wrong. Also, with £240 left in the account I was 20 pips away from the dreaded margin call.
Could trying to trade mechanically with a bunch of indicators and graphs be the problem, or am I finding excuses not to take responsibility for my poor trading?
Dinos, the smart thing to do would have been to hold it, however I exited because the trade had gone wrong. Keeping it open because I had inadvertently given myself £2pp exposure instead of £1pp exposure would have been wrong. Also, with £240 left in the account I was 20 pips away from the dreaded margin call.
lurker,
sorry, this belongs to your journal, but go an have a look in the mirror. that is the enemy. learn to control the enemy.
learn to be a vulture, you will be taking pips like a pipping ATM card.
j
Edit: sorry for being blunt, but hope the message comes across.
Atilla
Legendary member
- Messages
- 20,851
- Likes
- 4,031
I'm no expert but I have this bouncing back up to 13480 ( for some reason most of my SAR lines end up there?) and then a fall to 13425
Looking to go short again after some bounce but on the short term TA charts I can only see longs. Will wait and watch.
As you know it's the winning not the taking part that counts ..Yep, as per my game plan I shorted the DAX at 7765 (about 10-15 mins after the US housing figures)...a bit worrying at the time cost it had gone a bit mental at getting to that level!
...still holding
(though considering closing out presently as I can't decide whether we'll see a bounce back or further tankage)
Alas not big spondoolies per point, but hey lots of points!
Winning is good for the soul
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
An exit at 40 would have been £20 worse for me. Pleased to be flat.
Straw Poll (can't be bothered starting a real one).
LurkerLurker should:
1) Continue to discuss things on T2W, paper trade for at least a week, read more, paper trade, keep working at it.
2) Deposit more funds and start trading "properly". (ie with enough equity to risk 1% per trade, etc).
3) Attend his local Gambler's Anonymous meeting.
Straw Poll (can't be bothered starting a real one).
LurkerLurker should:
1) Continue to discuss things on T2W, paper trade for at least a week, read more, paper trade, keep working at it.
2) Deposit more funds and start trading "properly". (ie with enough equity to risk 1% per trade, etc).
3) Attend his local Gambler's Anonymous meeting.
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
one too many! took -10...
I agree,
LL,you seem to be chasing winners and scared of losers...so cutting profits early and letting losers run....trade exit is the key.entry is the easy bit.....Any questions feel free to ask....Here to help...
cheers
Dinos
Veteren member
- Messages
- 4,113
- Likes
- 714
I cannot see a buying confirmation on my charts since the ema 8 crossover ema21 at 13500 at 2.05 US time, I took my long position early without final confirmation, which goes totally against my trading plan, so there you LL, we all (maybe) do it wrong sometimes.
Appears to be still trending down, might have to take a loss on this, have to wait, not the end of trading week I wanted before I go on my hols tomorrow
Appears to be still trending down, might have to take a loss on this, have to wait, not the end of trading week I wanted before I go on my hols tomorrow
Atilla
Legendary member
- Messages
- 20,851
- Likes
- 4,031
Been there felt it, said it and cursed it.
Take a nice shower - hot and cold... Switch the tap hot and cold.
Symbolic act to get rid of what ever is in your head. Water has unique properties. Essential to life, priceless yet absolutely free.
Soft and fluid, overcomes all obstacles.
Seeks lowest ground.
Persistant and perservering. Erodes all obstacles in its path. Even demolishing rock over time.
Freshen up.
Look up a good charity close to your heart.
Donate amount of money you lost to a good cause. - That's your punishment...
Find your true soul and purpose in life and then come back with more money.
You are not alone, I'm with you...
Atilla
Legendary member
- Messages
- 20,851
- Likes
- 4,031
It seems to have bounced off 13440 twice so far. Pretty close.
Matches Steves 8:20 time for support kicking in from buyers too.
Amazing stuff guys.
Dare I say it's still heading down and I'm now thinking it may land on 13425 but didn't go short.
