Dow 2007

[firewalker99]

Looks like I have missed a few good days on the YM. A few nice short opportunities signalled today, so scaling into a position on pullbacks when new short signals were given by my system would have been rather profitable indeed. I have Mondays Dow available for replay, so I'll do some paper trading against that for practice. I think since my bankroll is so small at the moment I should go for very high probabilty trades on trend days and hold a position until stop or EOD. Move stop to breakeven at +30 and take the rest of the day off.

Sounds like a sensible thing to do.
Keep us updated on your results from backtesting/papertrading once you have some more trades to get some more reliable numbers that adhere to the necessary confidence level.

 

[firewalker99]

+50 for today and calling it a day
it's getting too hot in here! good luck everybody

I wish I had stayed around looking at the charts now... the break of 13700 (fut) signaled a short for me.
And then we went down 100 points. Something had to bent sooner or later. Shame I missed it but congrats on those who did take nice profits, especially steve.

 

[Atilla]

Atilla,
having probs getting chart from my trading platform into paint so will have to make do with bigcharts.Dax signal today was same set up as NDX monday.Today Dax went over high of Monday at 8096 and closed below it today at 8090 on lighter volume..this is a rejection of price in my method...think of it as less buyers prepared to pay a higher price....If there were only 3 people in your local pub and 10 pints on the bar would you pay over the asking price or bid the price down,knowing there were no takers for the other 7 pints......

Dax looks like it's possible to get back to 7650 on the basis of an ABC which would again fill it's gap at 7750/00....It'll have trouble breaking 7860 as there was massive volume there,(or 10 people chasing 3 pints).....

Thank you for the chart and the explanation Steve, I do hope it goes down further. Let the Teddies get some too.

I would like to see some more down side especially on the weekly charts. Number of times DOW has sunk and risen again it's like a monster thriller movie or something. Certainly needs the retrace.

Good luck everyone.

 

[2468steve]

try saving it as a smaller filetype (JPEG, PNG,...)

for example (this is tafita's chart exported to JPEG)

Thnx FW.....but when I right click on Bigcharts for example and save as all the pop up allows me to do is save as type bmp....how do I alter it to png,jpeg etc ..

I managed to post a chart earlier as thumbnail but not sure what/if anything I did different.....

Thnx again

 

[Hook Shot]

Smart Money

Can't see the smart lads at Blackstone floating their company directly into a falling market...... So we should be okay this week. Probably :cheesy:

 

[catracho]

Catalyst For Next Major Move In Stocks?

Oil may be the key for the next major move in stocks...imho scenario 1 is favoured (demand from Asia/India) - which probably means the alt will happen!!

 

[firewalker99]

Thnx FW.....but when I right click on Bigcharts for example and save as all the pop up allows me to do is save as type bmp....how do I alter it to png,jpeg etc ..

I managed to post a chart earlier as thumbnail but not sure what/if anything I did different.....

Thnx again

Converting is very easy. Just open the image in paint and choose Save As...
Bitmap files are way to big anyway

 

[2468steve]

Converting is very easy. Just open the image in paint and choose Save As...
Bitmap files are way to big anyway

Thnx FW,you're a star.....me and computers do not get along.....

 

[Hook Shot]

Dax needs a 150pt pullback and that probably means to 8k or perhaps a bit under...

Not a BAD day considering... caught the first bounce early then when that faded it was heaven from then on........... Thinking about going long for potential rally but that might be one trade too far... don't want to start giving back hard-earned do we ? But it is tempting.

This just reminds me once again sometimes you have a strong feel about what's going on and execute well. Conversely, when I don't have a real feel I should stand aside.

Catracho - I concur on oil I think I said somewhere else it's a sleeper... not much noise on the TV about it but big brkout on continuous charts....and recent pbk may have been retest!

Well played all those who made money the last 24hrs whatever they "felt"!

 

[jacinto]

interesting pattern forming.

 

[2468steve]

oooh when a plan comes together.....320 next maybe......luvvly jubbly.....

 

[2468steve]

NDX not playing ball....showing strength at the mo.....need that to breakdown....bit cautious here....

 

[lurkerlurker]

Short 13605, target 13500, stop 13635. Holding until limit hit or MOC.

 

[free4440273]

long 488.

 

[2468steve]

long 488.

some shakeout going on here both up and down.....added short @ 499 cash

 

[lurkerlurker]

Short 13605, target 13500, stop 13635. Holding until limit hit or MOC.

Stop moved to breakeven at +30. I really need some encouragement from you guys to trade my plan and hold my short. It was only £1pp so I can't cover half. I have a risk free trade now, right? So I should go for a walk.

 

[lurkerlurker]

Stop moved to breakeven at +30. I really need some encouragement from you guys to trade my plan and hold my short. It was only £1pp so I can't cover half. I have a risk free trade now, right? So I should go for a walk.

Out +7. Waiting for another short entry.

 

[2468steve]

how can you trade this ...up and down like a whore's drawers.....

 

[lurkerlurker]

Couldn't get back in at a decent price. I wasn't going to let a profit of +30 become a loss, and I was wise to take the +7 as my BE stop would have been broken, probably also with some TradIndex style slippage.

 

[lurkerlurker]

how can you trade this ...up and down like a whore's drawers.....

Short term direction from confirmed breaks of 600 and 570. I'm not touching it until I can trade on that basis one way or the other. Is volume unusually high today, or is it me?

I don't want to give back my +7, but at the same time I'm pretty infuriated at getting +7 from a +35 trade.