Dow 2007

[tricks]

Good on you Tricks. I know exactly what you mean. I'm still of the instincts DOW should go down but as FW pointed out markets very volatile and in constant flux. I do believe we are at the tops but we are talking about the DOW here.

Given the strong reversal from two rapid descents I'm shocked at the resilliance of it all. I hope the Asian markets sell the DOW and you make your pips.

Good luck and my instincts are still with you. 60% Downside /40% Upsdie - if I had to put my neck on the chopper

Cheers Atilla,

Back to the screen and Asian markets flirting with intraday records overnight, 'typical'.
I confess to tweaking the stop this morning to stay in the trade moved it to 59, which if hit, takes me out for 15 pips, 10 + 5 spread out of hours.
Always a puzzle deciding whether to hang on to the trade, not because of emotion, but still believing in why I opened it in the first place!
As I post I am -1, perhaps I should have taken the +28 last night and 're-grouped' ?

 

[Atilla]

Cheers Atilla,

Back to the screen and Asian markets flirting with intraday records overnight, 'typical'.
I confess to tweaking the stop this morning to stay in the trade moved it to 59, which if hit, takes me out for 15 pips, 10 + 5 spread out of hours.
Always a puzzle deciding whether to hang on to the trade, not because of emotion, but still believing in why I opened it in the first place!
As I post I am -1, perhaps I should have taken the +28 last night and 're-grouped' ?

Don't look back with anger as the song goes.

Not sure about moving your stops though. Not that I haven't done it my self. Now days I only move my stops to lock in profits. Not the other way round.

I concur with Catracho that we may be seeing another move up.

I had a target yesterday and stuck to it. Also, I wasn't too hot on the move down 60/40 and so when it picked up again from 13685 at 23% felt it was strength.

Good luck with the trade.

 

[2468steve]

morning gents...
sticking with my short for now....have to trust my signals though this market certainly makes being short feel uncomfortable.....

Good luck today

 

[tricks]

morning gents...
sticking with my short for now....have to trust my signals though this market certainly makes being short feel uncomfortable.....

Good luck today

Hi Steve,

I'm still in also. Seems to be a bit of selling across the board at the moment DAX , FTSE, NAS and S&P. Anyone have a clue why the current weakness showing?

Either we get another bounce from here (603 cash) or the trade is valid?

This little drop also validates why I moved my stop earlier, hope it follows through.

 

[shortorlong]

Anyone have a clue why the current weakness showing?

Maybe this:

ZEW Economic Sentiment is down from last time but still positive

http://www.forexfactory.com/calendar.php

 

[tricks]

G o on baby, drop below 600!!!!

 

[tricks]

Maybe this:

ZEW Economic Sentiment is down from last time but still positive

http://www.forexfactory.com/calendar.php

Thanks for that, you could well be right, certainly brought the DAX down a little. Long may it continue

Have to go out now on business and playing golf this PM. Good trading to you all. Back later to pick up the pieces.

P.S. Stop back to BE. Just in case!

 

[Pat494]

Mr Nasdaq's viewANALYSIS: The price of $INDU closed at 13612.98 on Monday, down 26.5 from Friday and up 188.02 from last Monday's price of 13424.96. Since the price of $INDU rose from last Monday but was not confirmed by today's action, it remained neutral as compared to last Monday's neutral status.

The short-term trend of $INDU, which is determined by its week-to-week direction, is up.

The best trading strategy in an up trend is to buy when prices pull back to areas of Support, especially if prices pull back to areas of Gathering Support.

Gathering Support stands between 13242.54 and 13250

Gathering Resistance stands between 13688.66 and 13692

 

[Dinos]

When to close a position

Morning all

The dilemma of when to close a position is something which we all have gone through, Tricks I can see why you wish to hold, it is nice to get those bigger moves in the bag. I though of an overnight short last night, but had doubts due to stochastic readings, so choose to stop out, (Cash is King)

fwiw, if you hold a good position like you were in, and you have "gut" feelings it will continue along this path, you really have 2 choices, see it through and stick with your limit order to cash in or I prefer to do, towards the end of the session, bank what I have got and relax, I can then get back on the train in the next session, if I'm right I will still be able to increase profit, albiet, I may "lose" in the interim between the closure and re-open, but I have money in the bag and can rest easily overnight.. If I'm wrong, I still have a decent return anyway

I prefer not to hold overnight positions, but sometimes do when the writing on the wall suggests its a relatively safe position to take.

 

[2468steve]

just seeing if I can still manage to posts charts.....please ignore this setup....

 

[Dinos]

Permits having the opposite effect, nothing surprises me these days

 

[Dinos]

Out at 84 and short

 

[Dinos]

Out at 82 +2

 

[Dinos]

Long 82

 

[Dinos]

Out at 94 for +12, Daily target of 20 points

 

[shortorlong]

Out at 94 for +12, Daily target of 20 points

nice work! . not an easy market, you must have second sight

who do you trade with?

 

[Dinos]

for day trading cmc

I'm normally very conservative and use lagging indicators to join a trend after its happened, but I was introduced to using stochastic at 39,1,8, by Nick Kruger, it does allow entry earlier than I'm normally used to, I use with other indicators and seem to catch the turn earlier, doesn't always work out, but its not meant to be easy

I've finished now for the day as I have my son's birthday party, If I was staying, at this moment in time I would be looking to buy the dips as the 39ma is trending upwards, and the price action is above thisd line

 

[firewalker99]

short 13737 fut

 

[2468steve]

short 13737 fut

looks like another zzzzzzzzzzzzzzzzzzzz day.......

 

[firewalker99]

looks like another zzzzzzzzzzzzzzzzzzzz day.......

I had like 4 very nice 10 pointers on dax (scalps from 8100) this afternoon. So I can live with a zzzz dow day

but unless we see some more swings I'm going to have to take profits quicker then expected, my usual +20 seems like far away now