firewalker99
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Mr_Stochastyk said:
The minis are interesting for sure, I think it's a bit of a shame we don't have similar e-mini's in Europe. I like trading DAX for instance, but it has a huge margin requirement (+7000EUR) as compared to the minis.
firewalker99
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firewalker99
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Slapshot said:Very low volume on the latest push up. Should be sunny in the south
enough to keep it going further apparently :-0
http://www.interactivebrokers.co.uk
Hi sorry to crash your thread but I guessed at least someone would still be around.
Can you tell me when I hear of IB over and over again as who many people here deal through direct on to the exchange is this who they mean?
Does anyone here trade through them?
Should I close my sbet acc. for these fellows?
Stephen McCreedy
Hi sorry to crash your thread but I guessed at least someone would still be around.
Can you tell me when I hear of IB over and over again as who many people here deal through direct on to the exchange is this who they mean?
Does anyone here trade through them?
Should I close my sbet acc. for these fellows?
Stephen McCreedy
firewalker99
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smccreedy said:
Hi, when people talk about IB thes usually refer to Interactive Brokers yes that's correct.
But I suggest that if you have any questions about brokers etc you ask them in the approriate forum/thread: http://www.trade2win.com/boards/forumdisplay.php?f=62
If you are trading DOW at any time, please come back to this thread
Meanwhile, best of luck in your trading aspirations!
Thanks
For what it's worth I'm short the Dow March Fut from 12,521, currently around 150 points against me at £10pp.
Good chance to cover yesterday but felt it would go lower still; how wrong I was!
It still feels like it's slowly rolling over to me and even the bullish US press talk of the Dow topping out, let's hope it happens soon (well hope for us bears anyhow).
Stephen McCreedy
For what it's worth I'm short the Dow March Fut from 12,521, currently around 150 points against me at £10pp.
Good chance to cover yesterday but felt it would go lower still; how wrong I was!
It still feels like it's slowly rolling over to me and even the bullish US press talk of the Dow topping out, let's hope it happens soon (well hope for us bears anyhow).
Stephen McCreedy
firewalker99
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smccreedy said:
From 12521? That's from quite some time ago then...hmm, sorry to hear that.
We all feel that it should go this or that way at some time, but when it doesn't we hold on to our beliefs too long....
Never belief what the press say but for what it's worth, I'm bearish too. But it takes time to form a top - if we are making one.
Good luck, I'm hope you'll be in profit sooner rather than later!
Cheers Andy
I was banking on the gap getting filled.
How annoying when your postions move your way over a few days to a small loss from a huge loss.
You want to exit and move on but then you think 'ride the winners', 'the trend is your friend' etc and I have visions that it will go even lower so I hang on although if feels uncomfortable as I feel it is the right thing.
Now I see my mistake isn't hanging on but not adding a trailing stop; I guess I got complacent.
My problem is I started trading in early 2000 and made all my money on the short side for years. I sometimes forget markets can go up as well as down!
Thanks for the support I'll let you know how it pans out.
Stephen McCreedy
I was banking on the gap getting filled.
How annoying when your postions move your way over a few days to a small loss from a huge loss.
You want to exit and move on but then you think 'ride the winners', 'the trend is your friend' etc and I have visions that it will go even lower so I hang on although if feels uncomfortable as I feel it is the right thing.
Now I see my mistake isn't hanging on but not adding a trailing stop; I guess I got complacent.
My problem is I started trading in early 2000 and made all my money on the short side for years. I sometimes forget markets can go up as well as down!
Thanks for the support I'll let you know how it pans out.
Stephen McCreedy
Mr_Stochastyk
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Stephen, of course, the markets will eventually go down. But the recent 6 months have shown how strong they are. All the pull backs were bought: there is no fear and no continuation of the down moves. The institutions are not selling yet. On the contrary, there is nearly 5bill. on the table in SPX March options contracts alone. Unless I see them close these positions, It's difficult for me to imagine a serious pull back before the March expiration. We'll need a lot more volatility too. Currently I just see a little weakness in the NDX - we'll see how this evolves this week.
Good luck
Andre
Good luck
Andre
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Stephensmccreedy said:
i suspect it happens to many but not because of not being sure but because they can call the market 10-20 maybe 30 times in a row and then complacency sets in due to great ability and you get spanked, HARD
the dow should have a retracement but equally it can have a topping action but for now the moves down are still counter trend the smart money are still buying dips and selling on the way up but i think we are close to a temporary top, a nice good move down to clear the cobwebs
good luck on the trade lets see how deep it can go today
I think you are right, short of Jun might have been a better idea, I'm expecting a first half pull back even if we close the year out at all time highs on all indices, I thought pre March but might have jumped the gun.
Still I bought what looked like some ridiculous calls a few weeks back that are holding up alright and acting to lessen the up moves a little.
Good luck to you too, I'm thinking of shooting Bush or Blair to help my short trade but am not convinced the markets would see it as a bad thing! Might give me a dip to exit on though.
Stephen
Still I bought what looked like some ridiculous calls a few weeks back that are holding up alright and acting to lessen the up moves a little.
Good luck to you too, I'm thinking of shooting Bush or Blair to help my short trade but am not convinced the markets would see it as a bad thing! Might give me a dip to exit on though.
Stephen
Andy, so true!
I have traded 7 full years and each one is made of a decent year wiped out by one or two out of hand losers when the market changed and I didn't change my mind with it.
Common mistake and I assure myself because I am often right I have a future in it but if I can't stop losers when the crop up at the end of a great run I have no future in trading at all.
It is such a mind game isn't it, easy if you crack it I'm sure a bit like Golf one day it just clicks you don't have to hit the skin of the ball and it's pretty straight forward from then on.
Losing a whole years money on one bad trade you wouldn't accept you were wrong on is sickening but after seven years of it I'm not sure I will change now.
I read in a great book that a man who won't change his mind does not have a mind worth changing, how true in trading.
Stephen
I have traded 7 full years and each one is made of a decent year wiped out by one or two out of hand losers when the market changed and I didn't change my mind with it.
Common mistake and I assure myself because I am often right I have a future in it but if I can't stop losers when the crop up at the end of a great run I have no future in trading at all.
It is such a mind game isn't it, easy if you crack it I'm sure a bit like Golf one day it just clicks you don't have to hit the skin of the ball and it's pretty straight forward from then on.
Losing a whole years money on one bad trade you wouldn't accept you were wrong on is sickening but after seven years of it I'm not sure I will change now.
I read in a great book that a man who won't change his mind does not have a mind worth changing, how true in trading.
Stephen
andycan
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Stephensmccreedy said:
i suspect there is a simple solution
i too can call markets very accurately but i always allow the possibility im wrong, always! because by doing this you allow new information to be evaluated.
so just before i enter a trade i look at where im right and where im wrong and take action accordingly
if im right and i know where its going then i adjust approprietly.
if im wrong im out or i reverse but what i will never do is knowing where im wrong allow it to carry on.
i have seen great traders trade and they blow you away its almost like they are told where they market is going
but even they have a bad day, rare but they do and they always have a point that they say 'thats me done'
firewalker99
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andycan said:
so far it looks more "how high can it go today"
guess we'll have to wait and see what Bernanke has to say...
andycan
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firewalkerfirewalker99 said:so far it looks more "how high can it go today"
guess we'll have to wait and see what Bernanke has to say...
it appear a big move is coming either way
at this juncture its at MOB i have not looked at the longer term charts
or the timing so im eyeballing
there is a gap to be filled at 12710 which i would like to see it shy of filling, not as obvious as the one below on the day session but its closer at this moment
its into the sideways area i personaly would like to see it drop to the12500 area but there is no sell signal as yet
my target area is at 12703 i will see how it acts there and then act
Thanks Andy.
I so regret not going to uni, getting a city job and some experience before going it alone.
I thought I'd go it alone instead and it's proved expensive and at times lonely.
Just one week shadowing a good trader would change my life I'm sure.
I guess it's trading from a point of desperation that makes it harder to take a loss and accept you're wrong; it's easier to have false hope than face the facts.
When I get to a point of financial comfort and can trade without as much pressure to have to make money each month I think taking the losses will become easier.
Sometimes I dare myself to take a loss and feel so proud having the balls to take it on the chin.
It's just the 'need' for money that throws what you know you should do and what you do in to conflict.
If anyone is a great trader or know's any that like tea on demand I'd love a day just to watch them work.
The problem is when you have 'done the wrong thing' hung on forever and finally it's come good it makes you think hanging on everytime will work.
I am 100% certain there are some people holding shorts on the FTSE from the 3,300 low.
Isn't human behaviour crazy sometimes.
Good luck this afternoon. I won't offer my opinion on today's price action as I'd obviously be talking my position rather than evaluating the facts!
Stephen McCreedy
I so regret not going to uni, getting a city job and some experience before going it alone.
I thought I'd go it alone instead and it's proved expensive and at times lonely.
Just one week shadowing a good trader would change my life I'm sure.
I guess it's trading from a point of desperation that makes it harder to take a loss and accept you're wrong; it's easier to have false hope than face the facts.
When I get to a point of financial comfort and can trade without as much pressure to have to make money each month I think taking the losses will become easier.
Sometimes I dare myself to take a loss and feel so proud having the balls to take it on the chin.
It's just the 'need' for money that throws what you know you should do and what you do in to conflict.
If anyone is a great trader or know's any that like tea on demand I'd love a day just to watch them work.
The problem is when you have 'done the wrong thing' hung on forever and finally it's come good it makes you think hanging on everytime will work.
I am 100% certain there are some people holding shorts on the FTSE from the 3,300 low.
Isn't human behaviour crazy sometimes.
Good luck this afternoon. I won't offer my opinion on today's price action as I'd obviously be talking my position rather than evaluating the facts!
Stephen McCreedy
