shortorlong
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thanks Firewalker, that explains it
thanks Firewalker, that explains it
Atilla
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Hi guys,
I see a very strong H&S reversal on the 4 hour charts.
What do you / are you guys thinking at the moment?
I don't think I have the balls to go long on live account but will set everything to long on the indeces on my virtual one.
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Atilla
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Based on this H&S reversal I've gone long @ 13428, SL @ 13380.
Will leave it alone hopefuly until close this evening...
Trading on pure technics.
brutusdog
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was just tempted to short but not getting the dow at the moment
think i will just observe and wait untill i can figure out the best zones to trade from. i also need to change my charting package as i dont have volume on my dealer provided one and i have another on for fx but not for dow...any sugestions? has to be web based..
all the best trading today.
firewalker99
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Based on this H&S reversal I've gone long @ 13428, SL @ 13380.
Will leave it alone hopefuly until close this evening...
Trading on pure technics.
I wish I hadn't closed my longs though! my entry price was about as good as one good get today (7 points of the lowest price traded)...
had a feeling this would go higher really, looking at dax before US open...
I think this could be the kind of days that price hardly looks back (dax already up +150pts)
lurkerlurker
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Good evening traders! I'm back from a lazy lunch to take a look at the markets.
Meh - TradIndex still having problems with their site. I just had to close another trade by telephone (long from 67) before I wanted to - efficient enough customer service though (he said he would close me at the market (94) when the systems come back up)- I don't know what the heck is wrong with their IT though.
That means I should have +27 on that trade I think.
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target 470 ...also test of high from Thursday's downdraft
firewalker99
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you have a 5 point stop? that's very tight, how do you manage that?
lurkerlurker
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I wish I hadn't closed my longs though! my entry price was about as good as one good get today (7 points of the lowest price traded)...
had a feeling this would go higher really, looking at dax before US open...
I think this could be the kind of days that price hardly looks back (dax already up +150pts)
Yeah, your entry was amazing. However, I know your trading well enough to know that you had a good reason for putting your target where you did at the beginning of the trade. You assessed the risk:reward, and showed good discipline in keeping your exit. You were not to know that there would be a rally all day.
I went long at 67, just before the long white candle at 18:10, and tried to cover it by phone at 94 (panic exit as TradIndex down) ten minutes later.
firewalker99
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Thanks, I have fixed first targets indeed, but I probably need to be more dynamic on the second part. Otherwise I'm never going to catch the very big moves.
anyway, so you made 27 points on a single trade? looks like you started off the week pretty good then?
short 70
firewalker99
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We just hit that 50% there...
lurkerlurker
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No - I'm not counting that just yet. I'm long, and the Dow could fall to nothing. I have a risk of £13,567 and a SB account which is still not flat.
They have said they will close me out at 94, but until I get the order tickets the contract isn't finalised. I'm getting very worried as I have heard many tales of these spread betting "bucket shops" ripping folk off sometimes. I want to point out here that I have had nothing but outstanding service from TradIndex in the 6 months or so I have held an account with them, so this is more fear and paranoia than anything else. I'm quite worried though.
It was a good long trade, not as good and entry as yours I'm sure you'll grant, but I played an upside breakout flagged by NYSE $Tick and Volume pretty nicely I thought.
Since TradIndex say they'll fill me when their system comes back up, but won't confirm I am flat, what should I do? Set a sell limit order at 74 (my entry plus 7 points, the CMC spread) with CMC so that if the price goes below my entry and my TradIndex long is open it will be hedged by my CMC short?
Anyone else have experience with SB firms when their systems crash? I have no reason to suspect they will be anything but fair about this, but I've heard some horror stories and I'm pretty sure the Terms and Conditions will say that a SB bookie can fill you wherever they damn well please if they have technical issues....
Ahhhhh! Not a good start to the week.
I am going to relax about it though - circumstances beyond my control, and I really shouldn't be liable for losses which may occur on a trade I have instructed that they close.
Wish me luck - looks like I am hamstrung from trading today anyways, but if my long is closed where it should be then I'll have a nice wee start to the week!
