brutusdog
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stopped out -10 was just about to hit the button ad take +15 but thought i'd stick to the rules...
lurkerlurker
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Well done, good trade. I got the entry but I ended up getting out too soon. It is a difficult one to trade today. I'm net +4, so considering calling it a night. I don't suppose I will trade again until around 6pm, if there are some opportunities.
I see we're hitting resistance at 435 again. Strong uptrend on tick, so I don't really want to risk a short.
lurkerlurker
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stopped out -10 was just about to hit the button ad take +15 but thought i'd stick to the rules...
My rules aren't working today. My plan applies to trend days, so on ranging days I need to pay attention to the market telling me enough is enough even if my target isn't hit.
Still, 5/6 isn't too bad.
Resistance held - it wants to go lower. Perhaps we will have a bounce later in the week rather than today. We've been range bound for the last hour though. Consolidation before the move. Which way?
Dinos - even though you won't be trading, will you still pop in to T2W and see how we're doing from time to time?
lurkerlurker
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A question from a trading novice
Which is what I still am. I note from the economic calendar that the FOMC meeting begins today. I know that the result tomorrow will drastically affect the market, but why will there be a "medium" affect on the market when the meeting begins? Surely they don't announce news before the meeting?
07:30 PM FOMC Meeting Begins Medium
Which is what I still am. I note from the economic calendar that the FOMC meeting begins today. I know that the result tomorrow will drastically affect the market, but why will there be a "medium" affect on the market when the meeting begins? Surely they don't announce news before the meeting?
07:30 PM FOMC Meeting Begins Medium
lurkerlurker
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I don't like ranging days. The spreadbet commission of 5 points on the YM makes it fairly difficult to profit. Small scalps are not an effective use of risk capital. I think I'll wait for someone to explain further about how the FOMC meeting beginning this evening will affect the market before I consider anything.
lurkerlurker
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A good signal. I tried at 28 but didn't get filled. I don't think there is much of a move up left though, and it seems to be banging against 435 again. This may qualify as a lower high. I'm just looking for the support break or lower low.
lurkerlurker
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And that would have been a clear 15 points from 35 had I pulled the trigger instead of gassing here. However, a support break of 15, and a pullback would be a nice short signal.
lurkerlurker
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The Three Bees
The market can either be bullish, bearish, or boring. I think we know what today is.
The market can either be bullish, bearish, or boring. I think we know what today is.
lurkerlurker
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Long 403. Stoploss 380. Target 440.
watson
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Well, it was down... was just getting ready to post a rant that I hadn't got filled on IG and missed the move (as the dealing window was doing that "processing" thing with the hour glass...). Anyway, logged out and back in and lo and behold had been filled! A nice 20 point move from 321 down to 300...
A profitable 2/3 mins!
lurkerlurker
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Covered 10 for +7, and net +13 for the day.
lurkerlurker
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Well, it was down... was just getting ready to post a rant that I hadn't got filled on IG and missed the move (as the dealing window was doing that "processing" thing with the hour glass...). Anyway, logged out and back in and lo and behold had been filled! A nice 20 point move from 321 down to 300...
Profitable indeed. Well done. I managed to take +7 out of the upmove there. A difficult day in the markets. Getting nearer EOD, and I'm considering stopping. I got a good fill on the way out, the SB bid was 2 under the market, so I got out at 13413 - which is pretty much the upper limit of the potential for this move in my opinion. I think the HOD has definitely passed.
Okay, so we've seen 415 now, but I'm not bullish. Ive no idea how the start of the FOMC meeting can or will affect the market, and I see quite a bit of hasty profit taking on the bid here.
I've had a rather strange day, so please allow me to present my stats:
Trades: 7
Wins: 6
Losses: 1
Win %: 85 (I wish I could keep this up)
Average Win: a paltry 2.3
Average Loss: 14 (1 trade, SL plus spread)
I think today has been a day for scalping. However the real winner here is TradIndex, who get 35 spread points at £1pp while I go home with £14. However, 14 pips in a day on the Dow is still a pretty good result. (okay, so most of you here get 20 on a trade, but you get my point).
I'm getting pretty tired now, and I've been at this since my first premarket scalp at around 2pm. Not a bad day, but I think I should call it a night. I fancy a walk, and I want to have a profitable day. I lost £10 yesterday on a single trade, and more the day before, so I'd like to keep the dent in those losses. The risk:reward simply isn't there today any more, and if I can't call the direction properly there is no point in trading.
FWIW, I think we'll see 380 before EOD, as tick is in a firm downtrend and price keeps respecting the 100 minute EMA on the upside. Small consistent returns, and knowing when to call it a day.
Good trading all - Dinos, if you're still reading, have a great few months. See you back here in September?
