lurkerlurker
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Pleased to see you are still developing mate. Perhaps you should start a journal or post your system and MM rules? Very glad that you are getting a much deserved break! Enjoy.
lurkerlurker
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PANIC!. There is NO VOLUME here. Look at the last 5m bar. This is disappointing indeed. I hope we don't get a day like yesterday; I am quickly regreting trading at all. I should have just done the news and taken my -1.
shortorlong
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Oscar the OMNI guy recommends taking today and the 5th off
lurkerlurker
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Out of that short for -10. I've had enough. Net -24 for the day.
lurkerlurker
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Done! I was going to, until I thought I would trade the news. I shorted for goodness knows what reason before the news, covered at a loss, shorted the news, was too slow to cover so got out with -1, and then sat around looking for yet another short.
I am in control of one thing though - the market is getting no more money out of me today. I'm taking the rest of the week off. Back on Friday.
shortorlong
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Damn .. so I missed the 4PM short then .. I have noticed the FTSE quite often loses 20 points or so at the end of the day when the DOW is being less than emphatic
oh well . another one that got away
oh well . another one that got away
shortorlong
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I managed to restrain myself and only went short after the news when the indices looked a bit tired . ( I watch the DOW but trade the FTSE at this time) I managed 6 points . which is my total for the day .. slowly I claw my money back
:| :-0
Kevin21
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Alright guys.... Just a question for those of you trading mini futures with IB... I've sorted got all my wenga out my cmc account and i'm just opening my IB account. Do i want bundled or unbundled pricing designation? I just wanna trade mini futures in the dow, s&p italy and the nikkei 225. It says something about unbundled being better for high volume, but at the moment i wouldn't say i'm high volume, but if things go well i may well have 20k to put in by the end of the summer, then i'd be going for high volume. What do you guys think?
lurkerlurker
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Bugger. I actually covered near enough the bloody top. Oh well - perhaps I should just take a break for a few days and "catch myself on".
Kevin, can't comment on IB tariffs, but I wish you all the best with your DMA trading. 20k should be enough to allow sensible risk/reward and good position sizing. Would you consider starting a journal of your DMA trades and progress?
Great, I see the Dow is really coming off now. Utter balls. I covered my short a damn top. I'm a sloppy trader. This would be +25 now!
Dinos
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Very dissappointed today, not a lot of action, so I'm left with 3 positions open, I will allow these to run, but will put stops on them. I will need to keep an eye on them, so I will call in towards the end of the week.
In the meantime, good luck to you all.
Right, off for a swim, food and a few beers.
Bye
In the meantime, good luck to you all.
Right, off for a swim, food and a few beers.
Bye
Triple top in prospect........
I know this is really a thread for the fast money brigade but...... for the lazy (or the inept day traders) ... it looks like we might be headed to triple top at the top of the range (if we get there) .... Will it be significant I ask myself ?
I know this is really a thread for the fast money brigade but...... for the lazy (or the inept day traders) ... it looks like we might be headed to triple top at the top of the range (if we get there) .... Will it be significant I ask myself ?
possibly a triple top....although going by the Nasdaq Comp and NDX it could be an upside breakout.They've both closed above highs.....TBH though I don't like these short trading weeks.Fake moves all over the show......
cheers
Kevin21
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right guys... i didn't trade today, too flat for my liking, but i got my IB account sorted, took me three and a half hours of going through all the paper work lol. All i have to do now is go to the bank with a form i've printed off to wire my money through to the citi new york branch and then i should be away. Time to go for gold now... I'll start a journal as i'm gonna be trading 5 different markets. Good luck eveyone, remember you've got to be in it to win it
SOCRATES
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You know why he says that ?
It can statistically be shown that the day after a holiday in the US market is a down day, much more often than an up day.
Tomorrow is the 4th July, US Holiday.
lurkerlurker
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In that case, you seem to imply that Oscar doesn't want people to trade on a down day? Why would that be, when he sometimes advocates selling ES and YM futures?
Also, did you post "The Fed leaves rates unchanged" the other week here, and then immediately delete the message?
Atilla
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I'm with the triple top reversal brigade.
Currently short on the Dow. Considering if I should place double pos size
Feeling fairly confident it's going to be a picnic. My belly says 75-80%...
Previous support line I think is going to act as resistance. Also, lower highs is not a good sign imo. It's summer time. Weather thinks we are in Autumn. Market doesn't know where it's going either.
Rise in interest rates in Europe will not be received well in the US. Dampening demand in rest of globe trying to reign in inflationary pressures will make US budget defecits worse than they already are and so further deteriation and vulnerability in the sub-prime market.
In fact for the first time in a long while FA and TA are in almost perfect harmony. Music to my ears.
Good trading everyone...
Attachments
Triple Top
Thanks Atilla ! Your chart seems to be moving me to the upside breakout camp.
Steve's point that The Naz brothers are solid and broke out leads me to believe that markets are still okay - or at least someone wants us to believe they are at any rate. If you are right about bearishness then Dax will tell us.
A The July range has been over 50pts basis s&p 500........probably 400pts in dow money
that's ever since 1996 -apparently
B Early July selloffs are not uncommon....3rd July 06 was a swing high ... what was today's date ?
(cheers Socrates)
C 24th July is often interesting .......
Thanks Atilla ! Your chart seems to be moving me to the upside breakout camp.
Steve's point that The Naz brothers are solid and broke out leads me to believe that markets are still okay - or at least someone wants us to believe they are at any rate. If you are right about bearishness then Dax will tell us.
A The July range has been over 50pts basis s&p 500........probably 400pts in dow money
that's ever since 1996 -apparently
B Early July selloffs are not uncommon....3rd July 06 was a swing high ... what was today's date ?
(cheers Socrates)
C 24th July is often interesting .......
Last edited:
fibonelli
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PnF Triple Top Alerts
http://stockcharts.com/def/servlet/SC.scan?s=TSA%5Bt.t_eq_s%5D!%5Bt.e_eq_x%5D!%5Bas0,20,tv_gt_40000%5D!%5Byk_eq_1%5D
It will be interesting to see what happens.
http://stockcharts.com/def/servlet/SC.scan?s=TSA%5Bt.t_eq_s%5D!%5Bt.e_eq_x%5D!%5Bas0,20,tv_gt_40000%5D!%5Byk_eq_1%5D
It will be interesting to see what happens.
catracho
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I'm with the triple top reversal brigade.
Currently short on the Dow. Considering if I should place double pos size
Feeling fairly confident it's going to be a picnic. My belly says 75-80%...
Previous support line I think is going to act as resistance. Also, lower highs is not a good sign imo. It's summer time. Weather thinks we are in Autumn. Market doesn't know where it's going either.
Rise in interest rates in Europe will not be received well in the US. Dampening demand in rest of globe trying to reign in inflationary pressures will make US budget defecits worse than they already are and so further deteriation and vulnerability in the sub-prime market.
In fact for the first time in a long while FA and TA are in almost perfect harmony. Music to my ears.
Good trading everyone...
Not so sure about triple top..mkts seem to be ok..and we have had a month of consolidation after the BIG run up since March (with relatively little downside)..so my feeling is we will break out to upside DOW 14k +, NDX 2k + and MAYBE then it will be a short..but would have to wait and see how mkts behaving...
CHART..look at MACD ..RSI nowhere near overbought...unless we get some geopolitical event - it looks to go higher
