Dow 2007

Cable

Atilla said:
I'm still short on Dow and Cable.
Click to expand...

Yes, and we've failed to break $2.02 for the second time this week, even with the BoE rise priced in. Nonfarms tomorrow, and US yields up. I suppose you have a target of around 2.0060 to cover? I'm considering shorting now, but I am only bid 2.0115 so the risk/reward isn't there.

Anyway, I don't trade the forex....yet. Come to think of it, a paper trade would be a good place to start.

Limit Sell 1 lot at 2.0120, stoploss 2.0135, buy limit at 2.0000.

We shall see!
 
lurkerlurker said:
Yes, and we've failed to break $2.02 for the second time this week, even with the BoE rise priced in. Nonfarms tomorrow, and US yields up. I suppose you have a target of around 2.0060 to cover? I'm considering shorting now, but I am only bid 2.0115 so the risk/reward isn't there.

Anyway, I don't trade the forex....yet. Come to think of it, a paper trade would be a good place to start.

Limit Sell 1 lot at 2.0120, stoploss 2.0135, buy limit at 2.0000.

We shall see!
Click to expand...

Need to rush off now but if it's a paper trade I'd hold that short until 2.0020. It's 2.0085 at the mo.

Bring down your stoploss so you are in some profit and then watch the fall. :)

Spent 4.5 hours on the underground and with BRail yesterday and had to pay for the experience. Just off again and using the Central Line I think I'm going to have another adventure today. :LOL:

Good trading everyone. :)
 
Position Trading

Lurker.

Position trading may well be a good option for you if you are feeling at all uncomfortable with day trading, which is inherrently stressful (imo). If you can master position trading, then you can be just as, if not more profitable than intraday trading. I find the best set up for position trading is using the 3 & 4 hours charts, patterns, entry and exit points are easily identifiable .:)
 
I have been short for several days and am still heavily short DOW and to some extent XLF (Financials) too, given the sub-prime story.
I feel it's 60-40 Bearish at the moment looking for a dip below 13581 (F) (100EMA on 4 hours) to close out.
 
Well, hope you bears enjoyed nonfarms. I missed it. Nevermind. I probably woudl have been faked to the upside anyway.
 
Just to give you guys the benefit of someone else's wisdom

3 DAY CHART ALERT 10, Strong bullish 3 day chart pattern.


BREAKOUT WATCH for possible breakout above 13727.72, no resistance in area just above.
Type: True breakout from double resistance.
Target: 14133, 4.2% Stop: 13423.31, Loss: 1.1%, Profit/Loss ratio: 3.8 : 1 - Excellent
Breakout stock patterns

BREAKDOWN None.
 
Pat, you may well be right and I'll end up with egg on my face, but looking at my 4 hour chart, all of these point downwards:
LinReg, TSF,ROC,Stoch,Fisher with PP and BOP just about to cross over.

No, I don't use all of these indicators usually :rolleyes: , but i do refer to them individually occasionally for signal confirmations. I do use Parabolic SARS alot and they are also pointing down.
So as yet, i haven't seen anything to prompt me to close my short pozzie. Fingers crossed or it's the Poorhouse for me.

HeikenAshi just gone red on 2 hour chart, looking for follow through on 4 hours.
 
To back that some way PnF double top breakout 29 June 07 , suggesting Bullish Price objective of 14,100
 
Azimut said:
To back that some way PnF double top breakout 29 June 07 , suggesting Bullish Price objective of 14,100
Click to expand...

NDX just got nice bounce off it's 10 day uptrend @ 1973.....this also still looks bullish whilst above that level
 
brutusdog said:
just took a quick long from 550 cash for +20pips.

good trading to all today.

:D
Click to expand...

Brutus, that looks like a very clear-cut signal and trade, congrats.
I might have joined you if I hadn't resolved to resist intra-day. I find I give up most of whatever profits I make in comms if i trade too much, so am trying to trade less frequently. Downside of course is that the intraday fluctuations sometimes put me a few hundred up, sometimes down. Just hope I can time my exit right...
 
rathcoole_exile said:
Brutus, that looks like a very clear-cut signal and trade, congrats.
I might have joined you if I hadn't resolved to resist intra-day. I find I give up most of whatever profits I make in comms if i trade too much, so am trying to trade less frequently. Downside of course is that the intraday fluctuations sometimes put me a few hundred up, sometimes down. Just hope I can time my exit right...
Click to expand...

thanks rathcoole,

i'm currently making the switch to hourly trading on exactly the same system but still trading the intra day in the evenings or when i'm at the screeen in the day...just cant get the time away from the real job to trade intra day full time. had a nice hit on the ibex yesterday though.:D

maybe it would be better if i was out in the sun down your way, then it would be trading and go go bars all night and hitting the beach during the day:cool:

what trades are you holding at present m8?
 
Last edited:
I'm short at 13665(F) for a position.
Also wrote the DJX July 138 Call and bought the XLF Aug Put.

and it's been pissing down non-stop for days :cry: I guess that's why they call it the rainy season. bloody rats are everywhere :cry: :cry:
 
rathcoole_exile said:
I'm short at 13665(F) for a position.
Also wrote the DJX July 138 Call and bought the XLF Aug Put.

and it's been pissing down non-stop for days :cry: I guess that's why they call it the rainy season. bloody rats are everywhere :cry: :cry:
Click to expand...

was over in january and it was great, hit the islands for some sun and samsuong :eek:
 
rathcoole_exile said:
either way, there's still s*d all volume :(
Click to expand...

True. I was tempted to buy the double bottom which also corresponded with the earlier NFP low (very strong support indeed) but the volume wasn't there and I'm building up a bankroll, not daytrading the YM. I just need to remember that.

Good trading all.
 
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