Dow 2007

lurkerlurker said:
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.
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good to see you back lurker, + is always better than -

:D
 
2468steve said:
out @ 72......+27....to whippy at the mo.......will wait for some sanity to return...
Click to expand...

Good call. I could have had over 30 at that price, but I was convinced I was being panicky and taking a profit too soon, as per usual. I think longs are quite risky now FWIW, so I will watch upper resistance carefully.

I shouldn't short now given that the price is above the 100 minute EMA and that tick has made 4 consecutive higher lowers on the 5 min.

We still don't have a convincing break of the 620 resistance zone as I type this though.
 
lurkerlurker said:
Short 13605, target 13500, stop 13635. Holding until limit hit or MOC.
Click to expand...

have you looked at the chances for a trade to go +100 points in the right direction on intraday basis? seems a bit stretched to me... unless you plan to hold overnight :?:
 
looks like this trendline saved it earlier....certainly got a big bounce off it.......
 

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firewalker99 said:
I thought your target was 90? it went to 89 on my chart?
Click to expand...

TradIndex price when my otFeed for YMU7 went to 90. They do have a spread around the underlying, which I didn't think would shift closer. That wasn't really a premature exit. Generally for the Dow their Bid is market mid -1 and their offer is market mid +4. You take what you are dealt. Maybe had I been cheeky I could have got 93 when the underlying went to 89, but my plan was to exit at 90, which I stuck to. (and not waiting around for just one more tick after your target is pretty good discipline, no?)

Also, I use the underlying price from my otFeed for trading decisions, and only refer to the SB price for opening or closing a trade. I accept the 5 point spread at £1pp as nothing more than a £5 commission - steep, yes, but I'm not risking $5pp on the YM just yet.
 
lurkerlurker said:
TradIndex price when my otFeed for YMU7 went to 90. They do have a spread around the underlying, which I didn't think would shift closer. That wasn't really a premature exit. Generally for the Dow their Bid is market mid -1 and their offer is market mid +4. You take what you are dealt. Maybe had I been cheeky I could have got 93 when the underlying went to 89, but my plan was to exit at 90, which I stuck to. (and not waiting around for just one more tick after your target is pretty good discipline, no?)
Click to expand...

In that case, no comment. Well done. Keep it up :) but did you use a limit or market order to close the trade?
 
lurkerlurker said:
Covered -5. Lucky escape. Good thing I have a fast finger. When I saw the plunge I only paid the spread.
Click to expand...

I entered on a positive tick div near support. It was a good trade on paper. Execution flawless both in and out. A loss, but a good trade.

Sidelines now till Philly Fed.
 
firewalker99 said:
In that case, no comment. Well done. Keep it up :) but did you use a limit or market order to close the trade?
Click to expand...

Thanks! I used a limit order at the current market price to close :D

So far today:

3 trades
2 wins
1 loss
66% win ratio
Average Win: 10
Average Loss: 5
 
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