Dow 2007

btw, there was a Resistance R1 pivot point at 13573. has that now become Support wonder ?
and if you have faith in Fibonacci, just based on the low & high so far today, together with the pull back to C at 13570 (spot on Mr Fibonacci), D should be at 13737 !!!
 
rathcoole_exile said:
out for Even. this is stupid, i promised myself i wouldn't trade until there was a TREND and here I am trying to scalp a few bucks here and there.
I'm gonna pull the plug and come back Thursday after the Septics have had their holiday. We didn't want them anyway, ungrateful sods :rolleyes:
Click to expand...

I should pull the plug here too. I'm just getting whipsawed. I started off the day quite well too. I should have taken note of the low volume after the numbers at 3 and stopped. I've wasted 3 hours of my time and £43 in a crappy slow moving market.

My own shoddy discipline at fault here. Would someone like to tell me how I have executed fifteen round trips against a 4 point spread today? No wonder I've lost money.

Grr.
 
Is this going to be my fifth...yes fifth consequitive loss since Thursday last week? I read, I study, I backtest ( with my limited knowledge) but the market defies me nearly every single time. I am at the pint where I am going have to hold my hands up and say YES I am one of the 90% of spead beters that lost my money.............what a Tos**er
 
chartgonzo said:
Is this going to be my fifth...yes fifth consequitive loss since Thursday last week? I read, I study, I backtest ( with my limited knowledge) but the market defies me nearly every single time. I am at the pint where I am going have to hold my hands up and say YES I am one of the 90% of spead beters that lost my money.............what a Tos**er
Click to expand...

Gonzo,
we are ALL idiots for trying to make a buck or two at the moment. The market is not trending and everyone is getting whipsawed, Stopped etc.
Keep the Faith mate, things will get better .....

Put these losses down to cost of doing business, training expenses whatever. shut up shop for a week and come back once normal business resumes, hopefully by early next week. June, july & August are always the quietest months, if you can get yourself back on even keel in july, you'll be all set for the autumn .....
 
So that was a fake out / double top, not a break to new highs then. Interesting. I hope that was the top. I'm still short here. It is getting a little uncomfortable, but that is due to my earlier losses more than the trade.

The tick divergence and the failure of RSI to break 70 are pretty clear short signals.

Heck, that is 620 again. Getting worried.

Edit. Got stopped out at the very top tick. Silly me indeed. That was 10 points up from here. Another loss of 13, leaving me with -£56 for the day. Ouch.
 
Thanks rathcoole,

To you and any other interested parties out there...........I seem to have developed a 100% loosing system...so I suppose the more savy members could turn it around into a 100% winning system? ............maybe I am honing in on the alter-world millionaires trend line?
 
lurkerlurker said:
So that was a fake out / double top, not a break to new highs then. Interesting. I hope that was the top. I'm still short here. It is getting a little uncomfortable, but that is due to my earlier losses more than the trade.

The tick divergence and the failure of RSI to break 70 are pretty clear short signals.

Heck, that is 620 again. Getting worried.

Edit. Got stopped out at the very top tick. Silly me indeed. That was 10 points up from here. Another loss of 13, leaving me with -£56 for the day. Ouch.
Click to expand...

I am Long, avg 13606 after adding to my pozzie. was $400 up at one stage, went down to $65 up, now $165. sell or hold, sell or hold, sell or hold ...............
 
i can see the 34 and 100 MAs flattening. If the 9 MA goes through it, that's it, I'm out.
However, if there is a nice juicy bounce .........
 
The worst thing in this business is the bloody price graph laughing at you from 30 mins ago............just saying, I know, I wanted to go up..........no matter waht your signals told you, you should have seen the pattern. Everything toldyou I was going to dive.........but no one can predict where I will go. You have your charts , your mechanical systems, you have programmed yourself to push the button ( against your rational better judgement) because you are following your system to the end................and the end it wil be.......................help I am near the end of my capital
 
this is no good for the old ticker.
$400 up one minute, $200 down the next, held my nerve, now back up $240.

aaaagghhhhhh what to do ? there's a thin line between taking your profits while you're ahead and letting them run ........
 
Rathcoole............If I'd been trading your stakes I'd have lost my house by now..........................
 
chartgonzo said:
The worst thing in this business is the bloody price graph laughing at you from 30 mins ago............just saying, I know, I wanted to go up..........no matter waht your signals told you, you should have seen the pattern. Everything toldyou I was going to dive.........but no one can predict where I will go. You have your charts , your mechanical systems, you have programmed yourself to push the button ( against your rational better judgement) because you are following your system to the end................and the end it wil be.......................help I am near the end of my capital
Click to expand...

stop .. today is no good .. this week probably .. but don't go bust .. test your system with the smallest bet until you make consistent wins day in day out .. only then increase your bets .. don' worry about what you lost already don't chase your losses .. when you have perfected your trading system/style you will make it back then.
 
rathcoole_exile said:
this is no good for the old ticker.
$400 up one minute, $200 down the next, held my nerve, now back up $240.

aaaagghhhhhh what to do ? there's a thin line between taking your profits while you're ahead and letting them run ........
Click to expand...

take you money .. wait for a clear opportunity to get back in .. maybe not today, not tomorrow but one day . and for the rest of your life .. um .. that must be from a movie :LOL:
 
chartgonzo said:
The worst thing in this business is the bloody price graph laughing at you from 30 mins ago............just saying, I know, I wanted to go up..........no matter waht your signals told you, you should have seen the pattern. Everything toldyou I was going to dive.........but no one can predict where I will go. You have your charts , your mechanical systems, you have programmed yourself to push the button ( against your rational better judgement) because you are following your system to the end................and the end it wil be.......................help I am near the end of my capital
Click to expand...

please ignore my advice by all means, but i suggest you take a few days off, practice your golf swing and come back next week when this consolidation will hopefully be over. once we're trending again, you'll be laughing .....
 
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