Dow 2007

firewalker99 said:
exit first half at 13450 = +20
(just in case this level holds), stop set BE, might leave other half open till EOD
Click to expand...

Gutted about not selling 70. I could cover at +20 now if I had.
Good call firewalker - I guess volume reading comes with experience - I read it as less selling pressure instead of a rest before bearish continuation.

Well done on your pips!
 
lurkerlurker said:
Gutted about not selling 70. I could cover at +20 now if I had.
Good call firewalker - I guess volume reading comes with experience - I read it as less selling pressure instead of a rest before bearish continuation.

Well done on your pips!
Click to expand...

You did have the same idea in mind about selling there though. Shame you didn't take it, but at least you can take comfort in the fact you were reading it reasonably right.
 
I'm not doing so well today. I'm not taking about pips and pounds either.

I went long on a pullback to the EMA after a downside break. My first trade today was the exact opposite of what my method told me (adapted chartman method, I'll post the full system on the journal in the next few days). I must have had a reason for doing this, but I'll have to read further up the thread for what it was.

I can scalp pretty well sometimes, but only for gains of 1 or 2 because of the spread. The second trade was a scalp opportunity against the trend which I pulled off okay, moving my loss up to 15 from 16. If I had taken a short instead of a long at the same price, the recent pullback to 70 where the resistance held would have been an opportunity to add abother £1pp short, and I could have moved stops to breakeven on an average trade price of 80.

Perhaps I shold take some time off and try and work out why I'm not trading my system.
 
lurkerlurker said:
TradIndex have 2 futures you can trade. A futures which expires 9pm daily (5 points) and a futures you can hold overnight until expiry, which is 11 points (I don't trade that one, although I don't think they charge you financing charges above the spread- I've not tried futures overnight so I wouldn't know). The cash price has a spread of 5 also.

The way I see it, I am getting daily dow for 5 points instead of 4, but on a price I have a RT feed for.
Click to expand...


Thank you for the information LL. I'll probably stick with CMC.

I have moved my stop loss to 13328 and just got taken out. That's another +11 so up 3 on DOW.

Feel like taking a break but thinking I might miss that move down. I hope one of you guys can look out for it and surf that baby dow-nnnn... for me... :cheesy:
Just hope it doesn't rear it's ugly head up again. :eek: :LOL:
 
Dinos said:
Added long at 18
Click to expand...

Did you just average down? I thought you were long from 30 something. Is averaging down permitted in your system (I'm not saying it is a bad thing per se, just that you shouldn't do it unless your rules expressly permit it.). Long 440 futures would have been a nice entry, in which case if you added to a long there, it was probably wise in my view.

I just have a rule against all averaging down now. I could never seem to make it work for me, with a few rare exceptions which didn't justify all the times when I ignored the market telling me I was wrong.
 
Atilla said:
Thank you for the information LL. I'll probably stick with CMC.

I have moved my stop loss to 13328 and just got taken out. That's another +11 so up 3 on DOW.

Feel like taking a break but thinking I might miss that move down. I hope one of you guys can look out for it and surf that baby dow-nnnn... for me... :cheesy:
Just hope it doesn't rear it's ugly head up again. :eek: :LOL:
Click to expand...

Why not? Do you have an open Dow short on any time frame? If not (excuse the preaching), you should see a bounce as something to make money on, same as a move down.

I'm giving better advice than my trades today. Comments on my earlier post about not following my system (and somehow taking a contrary position which cost me 16) welcome.

Is the afternoon doldrums between 4:30 and 6 PM? (London time) If so, I'll take a break soon.
 
firewalker99 said:
You did have the same idea in mind about selling there though. Shame you didn't take it, but at least you can take comfort in the fact you were reading it reasonably right.
Click to expand...

Thanks. I didn't take it in the end because I wasn't confident. To clarify, I accept the possibility that even the best looking trade can go against me and plan accordingly. However, in this instance the possibility of a bounce seemed high enough to

  1. Make me wonder where to set a stop (this was not obvious in the slightest)
  2. Make me doubt my ability to manage the trade confidently and with a cool head

In short, my decision not to trade at that price was based more on psychology than on the market action. Maybe I should ensure I ponder this and write something in my journal later.
 
Dinos said:
Added long at 18
Click to expand...

Good luck Dinos, pa suggesting a temp respite at this level, nice tight entry, do you mind attaching a screenshot of your trading screen i.e stochs etc, unless you have reservations which I'd understand.
Thanks.
 
Lurker, I don't average down, not within my rules, I have adapted and included a couple of additional indicators which I have found extremely valuable identifying trades I normally would not have taken. I identified another position which was to good to refuse.

SNBTNT - will try do, not my best area, will have a go
 
These are the times I don't feel comfortable with, I min charts,starting to suggest a retracement down, 5 min charts not complete in their bullish cycle. 10 min chart showing signs of macd pos divergence, full and slow (Last) stochastic looking good for further rises. TRIN favourable

Will ride this higher I think
 
Last edited:
Charts

Somebody explain to once again, how to grab, attach charts, IT not my most best quality
 
I just gave back yesterdays profits, +1. In my head I was saying to myself over and over "go long on a break of 90). What the hell is wrong with me.
 
imho, 5, 10 & 15 charts suggesting more upside, TRIN still ok, holding out
 
Dinos said:
Somebody explain to once again, how to grab, attach charts, IT not my most best quality
Click to expand...

dinos

you'll need to have saved the chart as a file, then:

when you post, scroll down to "manage attachments" and click it; then browse for the chart file you've saved - needs to be one of the valid extensions mentioned above manage attachments - double click it to get it in the box then click "upload". That should do it :confused:

cheers

jon
 
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