Dow 2007

[rathcoole_exile]

Rathcoole............If I'd been trading your stakes I'd have lost my house by now..........................

sorry i know i should have kept it business-like and just referred to pips and points but with adding to my position twice, it takes some working out to average out how many pips I'm up/down. easier just to read the $ value that the broker's system is showing me......

 

[Pat494]

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

Just maybe you are falling into the trap of the lagging indicators and tight stops.
The analogy of an athletic's track is I think a good one. If one is a bit late one can be 1/2 a lap behind when it whipsaws and consistently going the wrong way ??

good luck

 

[rathcoole_exile]

that's me done. Up $300 today. in theory. that's the last time i try to scalp off the 1 minute chart - i gave $200 back in commission and charges.
If I hadn't missed my signal off the 15 minutes and got in when I should have done, I'd be sitting on 70 points profit and only a single set of opening and closing charges. Lesson learned.

tomorrow's a half day on the index and Wednesday is a holiday so i guess I'll see you all on Thursday. Unless I can't resist popping in to have a look tomorrow.
Good luck everyone and keep your spirits up. it's a tough game, but isn't it the best way to make a living ?

 

[Azimut]

Originally Posted by chartgonzo
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...


"Whipsaw", "Traders Remorse", what ever you want to call it are extremely cruel if you don't get your entry right, "never catch a falling knife" falls to mind, I know I am new to this board, however I have many years experience, if you are going to use lagging indicators to enter a trade, it is just as important imho, that you use the right timeframe to confirm the entry position is valid, check the trend lines with various indicators, eg MA 1, 10, 20, 34 etc, and ask yourself are they telling you the same answer, read it, confirm it, the answers to whether you should enter a trade are there, you just have to find it.

 

[rathcoole_exile]

went long at 13609 (F) at eod yesterday. now up to 13645 so I've moved StopLoss to 13611 to close out for nowt or gain from (hoped for) Gap Up later.....


actually it seems to be having trouble getting through the R2 Pivot at 13667 so I closed out for now and will re-open if and when it breaches Resistance.

 

[nkruger]

it's a tough game, but isn't it the best way to make a living ?

Yes.

 

[Dinos]

Good afternoon all, thought you'd got rid of me didn't you!!!.

Hope you are all OK and doing well.

Settled in now, weather warm, but a few showers earlier, forecast from tomorrow through the weekend hitting 29-30C, sunny, no cloud.

Nothing planned for this afternoon, apart from R&R, a few beers and not a lot else!, so I'll stay around a while and trade the shorter US session, after this, circumstances permitting, I may call in a few times until my wife and kids come out in a couple of weeks for the summer.

 

[shortorlong]

Good afternoon all, thought you'd got rid of me didn't you!!!.

Hope you are all OK and doing well.

Settled in now, weather warm, but a few showers earlier, forecast from tomorrow through the weekend hitting 29-30C, sunny, no cloud.

Nothing planned for this afternoon, apart from R&R, a few beers and not a lot else!, so I'll stay around a while and trade the shorter US session, after this, circumstances permitting, I may call in a few times until my wife and kids come out in a couple of weeks for the summer.

welcome back Dinos
good trading to you

 

[lurkerlurker]

Good afternoon all, thought you'd got rid of me didn't you!!!.

Hope you are all OK and doing well.

Settled in now, weather warm, but a few showers earlier, forecast from tomorrow through the weekend hitting 29-30C, sunny, no cloud.

Nothing planned for this afternoon, apart from R&R, a few beers and not a lot else!, so I'll stay around a while and trade the shorter US session, after this, circumstances permitting, I may call in a few times until my wife and kids come out in a couple of weeks for the summer.

Pleasure to have you back here Robert. Glad you've settled in okay - good luck this session.

I'm a bit wary of the low volume, so I just might do 1 trade on the factory numbers (though I doubt that will move).

Just started my platform and see that we are up to 650 in premarket trading. Treasuries?

 

[Dinos]

I'll be the first, short 41 cash

 

[lurkerlurker]

I'll be the first, short 41 cash

Interesting trade. I guess you aren't relying on your usual signals here? I'm sitting tight until 3pm - I've had a good few weeks, but they have been defined in smaller losses rather than larger profits. Then I let everything go pear shaped yesterday by overtrading and chasing losses - trading on no volume didn't help either.

 

[Dinos]

Short 63 cash

 

[Dinos]

Lurker, correct, not usual signals, just trying something else, very small positions, just in case, very simple, time will tell if it works. heres hoping

 

[lurkerlurker]

I want to short but I need a better price than this - I'm thinking near enough to 659 futures.

 

[Dinos]

Browsing through the posts, no FW, is he away?

 

[lurkerlurker]

Browsing through the posts, no FW, is he away?

Yeah, sorry about that mate. Most of the usual crowd haven't posted here in awhile - it has been pretty quiet in here.

Ooops - not smart doing this in the middle of a trade.

I managed to short 56 SB bid, which was 57 market last trade.

Stoploss at 70 (67), so hopefully this will be an okay trade. I'm pretty uncomfortable at these levels though - I've a feeling my stop will be hit any minute now. Not quite what I wanted.

 

[lurkerlurker]

****ed up on the news for -1. Stopped out on the short for -13. Net -14 for the day.

 

[lurkerlurker]

Short 65 (market 67), come what may.

Nervous about shorting twice, the market seemed to bounce okay off those manufacturing figures. However, Tick divergence signalled an entry here. Looks like I'll just cover in pain at -50.

 

[Dinos]

Shame, I hope it doesn't die off, its been very good over the last few months, I've enjoyed it.

I have now learnt my lesson, I have a trusted system which works for me, the old adage come in here (if is isn't broke, don't fix it). So from here on in I will stick with my ususal trading system and forget about tinkering.

The 2 positions I took earlier were based on a very simple system, perhaps it might work, for now, the positions were extremely small and I will let them run, unless there is a dramatic change in direction.

I will look to see whether it is possible to add a short with my normal methodology

 

[lurkerlurker]

Hopefully I've weathered the worst of it. I will cover if the high is taken out. My target now is a litte ambiguous, but is either in the region of 650 or 630 - I've not really decided that one 100% yet.