free4440273
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bear in mind guys, volume has been relatively low today: i still see a pullback on the cards for the, say, september contract on the dow. 
Just old my house maybe that will send it down lol
Istill think the bears have the uperhand today.
This Canary has 9 lives though still swinging on its perch but not for long i think.lol
Snap mines gone now too.... phew...
Nice profit but would have multiplied my money many times if I'd have bought housing shares at the time...and kipped at my girlfriends gaff. Can't complain share certificates are not weather proof anyway ....so I heard...... but the divis have also been amazing..!
Bears upperhand.... I'll let Herr Dax tell me what the market is up to !
firewalker99
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Excellent trade and well done!
I did 4 longs and I made +60 in the end, but in terms of effortless trading you are the man
I still think this will close higher though...
Excellent trade and well done!
I did 4 longs and I made +60 in the end, but in terms of effortless trading you are the man
I still think this will close higher though...
nice trades both of u...well done....thats what makes a market
free4440273
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...that's certainly a brave call in the last (half) hour of trading
...that's certainly a brave call in the last (half) hour of trading
It's only money!!!!!!!!!!! Ha ha ha. Faint heart never won fair woman!
Minus 20. Oh well, the good news is, the fair woman is already won! And the roast chicken is in the oven.
Better luck next time!
short 530 cash -stop 565 (Wednesday's market)
Dax was a great indicator once again .... held in when dow was wobbling and in the end Dow fell into line !:cheesy:
The Germans are so reliable....vorsprung durch technic
keep an eye on 30 yr bond tomorrow..it's pushing support at 109 and if breaks will trade down to 106....this will spook equities...FOMC minutes tomorrow nite may provide catalyst....
cheers
Mmmmm, hot and spicy pizza.....love it.
Current price 13521
Support 13510 area
Target area 13580 area
May find resistance around 550. The market could drop to 500 area, maybe a weak hand shake out? Basically i'm long tomorrow, unless it takes out the 470 area.
Current price 13521
Support 13510 area
Target area 13580 area
May find resistance around 550. The market could drop to 500 area, maybe a weak hand shake out? Basically i'm long tomorrow, unless it takes out the 470 area.
firewalker99
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Enjoy your pizza
Nice market today. Some clean swings, decent 100-point range.
Let's hope for more of this. Should be an interesting week going into June... where IT is bound to happen :cheesy:
firewalker99
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Thanks but... this is actually a good example of where I miss out on a very decent move by moving my stop to breakeven after my first target is hit.
Price returned to my entry point as you can see on the chart.
The increasing volume on the following move up confirmed it was safe to re-enter a long there. By then I had spoiled my perfect entry because of the stop placement. Bit of a shame. Oh well... I would've got +100 points otherwise and probably be getting lazy for the rest of the week
Attachments
lurkerlurker
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You all seem to have done very well out of the YM today. I now have a realtime OHLCV feed from opentick for the YM through ninjatrader. See journal for details. Looking forward to seeing this in action during market hours, as I think I'll have time and sales stuff too. So far I've been relying on a skewed SB quote showing only price.
Firewalker - excellent call getting back in even after the breakeven stopout. Hope you caught the most of that move (although it only had about 60 points in it overall).
I'm still stuck papertrading, but I need to be patient. Just because I now have RT OHLCV + T&S does not mean I can neglect any thought of a "system" for trading this market.
Again, I'm having difficulty with the concept of formulating a system - I do not know how detailed the system needs to be or what it needs to do. I am getting hung up on the whole system / statistical edge / positive expectation / backtesting lark that I am feeling a little adrift.
Perhaps I should look at the markets in real time, work on my knowledge of the relationship between price and volume, and paper trade when I spot an opportunity. I can then post my trade, targets, stop, reasons for entry, etc in real time and try to stick to the plan.
I'll most likely catch you all in here tomorrow (for a little while, I'm having a bit of a busy week)
Good trading all.
How many people here who are spreadbetting also use a real time feed? How many rely on the SB price?
Firewalker - excellent call getting back in even after the breakeven stopout. Hope you caught the most of that move (although it only had about 60 points in it overall).
I'm still stuck papertrading, but I need to be patient. Just because I now have RT OHLCV + T&S does not mean I can neglect any thought of a "system" for trading this market.
Again, I'm having difficulty with the concept of formulating a system - I do not know how detailed the system needs to be or what it needs to do. I am getting hung up on the whole system / statistical edge / positive expectation / backtesting lark that I am feeling a little adrift.
Perhaps I should look at the markets in real time, work on my knowledge of the relationship between price and volume, and paper trade when I spot an opportunity. I can then post my trade, targets, stop, reasons for entry, etc in real time and try to stick to the plan.
I'll most likely catch you all in here tomorrow (for a little while, I'm having a bit of a busy week)
Good trading all.
How many people here who are spreadbetting also use a real time feed? How many rely on the SB price?
lurkerlurker
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Ponderings on Volume
I've been playing with my new toy (NindaTrader/OpenTick), and am pondering Volume Zones.
Attached 15 min Dow chart shows substantial volume on up bars above the key 13550 S/R level. Some of what I have been reading regarding volume suggests that the short term "value" of an instrument is where it traded at the highest volume. Following the general mass psychology inferences in TA, surely this would mean a strong long signal on a break of the 550 level?
I can see lower highs (2 of) and higher lows (2 of). I'll be watching for a break of the downtrendline (not shown) or the uptrendline for a buy / sell signal respectively. Is this sensible?
I've been playing with my new toy (NindaTrader/OpenTick), and am pondering Volume Zones.
Attached 15 min Dow chart shows substantial volume on up bars above the key 13550 S/R level. Some of what I have been reading regarding volume suggests that the short term "value" of an instrument is where it traded at the highest volume. Following the general mass psychology inferences in TA, surely this would mean a strong long signal on a break of the 550 level?
I can see lower highs (2 of) and higher lows (2 of). I'll be watching for a break of the downtrendline (not shown) or the uptrendline for a buy / sell signal respectively. Is this sensible?
