Dow 2007

[2468steve]

A very choppy day ,volatility increasing dramatically......the market is obviously uncertain and it's personality seems to have changed substantially these past few days....reminds me of the 250pt swings back in 2000.....

 

[Dinos]

Stopped out mate for -20, currently long cash from 328

Did well on my gold trade last week, shorted at 657 and closed at 645, well happy with that

 

[firewalker99]

long 13440

exit at +30

 

[Dinos]

Writing could be on the wall with a sub 350 finish

 

[tafita]

Hi

Nice short opportunity again today with exactly the same entry rules I applied on yesterday's post. The first arrow (5 minute chart) shows the entry. I was a little unhappy about it as I should have waited for the pullback to complete and entered on the bull candle. Like yesterda, the entry was based upon the breach of support, in this case, 13400. In respect of volume, the previous bear candle was only above average in terms of volume so from this perspective, I relied more on price as well as support and resistance.

Managing the open position was simply a case of trailing the stop to Tradindex's maximum: 30 points away from the price THEY quote.

The second arrow shows the point at which the stop was triggered: perhaps a little early in my opinion but hindsight is a wonderful thing and I was happy to get out since the Dow was quite choppy on the way down and both greed and fear were both felt by myself today. I really need to work on that. Out for +40.

Thanks for reading and I welcome any feedback. I'm off to watch Tycoon.

Tafita

 

[Hook Shot]

A very choppy day ,volatility increasing dramatically......the market is obviously uncertain and it's personality seems to have changed substantially these past few days....reminds me of the 250pt swings back in 2000.....

With 100-150 pt declines 4d out of 5 it makes it worthwhile to play intraday...
I'm a lazy trader not one of the smash and grab boys

Perhaps I meant hit and run...........

 

[shortorlong]

exit at +30

congrats!
What made you go long right there? it looked like it might reverse any time and had been making steady progress down and down .. but what made you hit the button?

 

[firewalker99]

congrats!
What made you go long right there? it looked like it might reverse any time and had been making steady progress down and down .. but what made you hit the button?

thx,
various reasons but basically a strong hammer like candle on high volume close to a support level... high probability for a scalp trade...

 

[Azimut]

New to T2W

Good morning and Hello

I'm new to T2W, I am a full time trader and have several years experience. I trade individual stocks and SB primarily US & European Indices, but do trade metals & Forex. I swing trade certain indices and day trade others.

If nobody has any objections, I would like to become part of this community and hopefully contribute thoughts and discuss trading strategies

 

[Dinos]

Azimut

Welcome, no problem, its a friendly little thread with great posters and a wealth of knowledge between everybody.

Have fun

 

[Pat494]

Good morning and Hello

I'm new to T2W, I am a full time trader and have several years experience. I trade individual stocks and SB primarily US & European Indices, but do trade metals & Forex. I swing trade certain indices and day trade others.

If nobody has any objections, I would like to become part of this community and hopefully contribute thoughts and discuss trading strategies

Welcome aboard

 

[Dinos]

2468Steve.

Brilliant trading the other day (990) points, I take my hat of to you sir, well done

 

[2468steve]

Thnx Dinos,
took a while for them to come good and some very whippy ups and downs.I'm beginning to think tho' I may have closed a little too early....Still,a bird in the hand,and all that

 

[Dinos]

Thnx Dinos,
took a while for them to come good and some very whippy ups and downs.I'm beginning to think tho' I may have closed a little too early....Still,a bird in the hand,and all that

Now thats just getting damn greedy, save some for us!!!!!!

 

[lurkerlurker]

Good morning and Hello

I'm new to T2W, I am a full time trader and have several years experience. I trade individual stocks and SB primarily US & European Indices, but do trade metals & Forex. I swing trade certain indices and day trade others.

If nobody has any objections, I would like to become part of this community and hopefully contribute thoughts and discuss trading strategies

Welcome to T2W Azimut!

 

[2468steve]

Now thats just getting damn greedy, save some for us!!!!!!

i was expecting a turn yesterday which never came...because of that I now think we could go a lot lower into next week and 4 July holiday...13200 is crucial for the bulls to hold.13175 is in fact the critical level & If broken i'd expect 12675 at least......if 1487 goes on SPX that gives me a target into 1436.Back in March when SPX was at 1436 Dow traded at 12470....
SPX is currently trading below 1487 pre-market and this is probably slightly bullish.....big moves pre-market tend to take a lot of energy out of the market,but if we are still below that after 5pm the above scenario becomes increasingly possible...

cheers

 

[lurkerlurker]

Tomorrow - big numbers at 13:30 and 19:15. I wonder how that will move the market. Watch the FOMC and the real GDP closely. Any weakness in that and we could see 13300 cash before long.

 

[2468steve]

Tomorrow - big numbers at 13:30 and 19:15. I wonder how that will move the market. Watch the FOMC and the real GDP closely. Any weakness in that and we could see 13300 cash before long.

Hi LL,
I've found a good way to play FOMC announcement is on the binaries....you can easily get a 150pt move after 7.15 and beauty of these binaries is you can go simultaneously long or short the market.Therefore your loss is limited,and as long as the market moves substantially you'd likely take a profit at some point.Of course the icing on the cake is you don't care if it rallies or tanks 150 pts....u just need it to move....


cheers

 

[lurkerlurker]

Hi LL,
I've found a good way to play FOMC announcement is on the binaries....you can easily get a 150pt move after 7.15 and beauty of these binaries is you can go simultaneously long or short the market.Therefore your loss is limited,and as long as the market moves substantially you'd likely take a profit at some point.Of course the icing on the cake is you don't care if it rallies or tanks 150 pts....u just need it to move....


cheers

Aren't you describing a synthetic straddle? I know nothing about options (well, I don't know enough to trade any option or option derivative). That sounds interesting but I don't want to open any more damn accounts. E*Trade SB (of 0.5 spread on the FTSE fame) are giving me bother with my application - I have accounts with TradIndex, CMC, and IG and I can say that the E*Trade application process is by far the most annoying.

It sounds interesting though. For example a "put" with a binary at 3:1 odds 50 points out of the money and a "call" with a binary at 3:1 and 50 points out would be an almost guaranteed profit as the market will move more than 50 after a FOMC announcement.

 

[lurkerlurker]

Short 13373