Dow 2007

Kevin21 said:
a question for you guys trading the mini dow with IB... I thought that if you were trading futures in the mini dow then you wouldn't be restricted to the day trader rule where you have to have $25000 in your account?
Click to expand...

I'm not trading the YM with IB, but I hope this helps anyway. As far as I know (not qualified to give investment or legal advice) the Pattern Day Trader rule applies to equities (and equity options) only. Forex and futures (the YM is a future) are exempt from this rule. Furthermore, as far as I know this requirement is only imposed by the NASD member firms in the US, so I think some non-US brokers can waive this requirement. This shouldn't be a hassle for futures anyway.

Hope this helps.
 
firewalker99 said:
Don't expect too much posting from me... I'm pretty busy around here last couple of days.
Just had a look at the charts, looks like not much volatility last week, guess I didn't miss much.

Will try to pop in from time to time and have a look.

Meanwhile, keep up the good work lurker (and everybody else) and make it a profitable summertime! :)
Click to expand...

Don't expect too much posting from me either. I am currently monitoring a wide range of instruments, although I am not actually trading. My YM trades will be restricted to trades over news only. No news today, so I'll be fairly quiet.

Trying to keep up the good work here - thanks firewalker - I'll be doing my position trades on the YM before long I hope!

I'll also ahem, lurk around here meanwhile.

Good trading all.

Anyone been watching the morning CMC Markets bulletins? Todays edition here. Does anyone else know of a free (as in beer) squawk box or other live audio trading news? I wouldn't mind something running in the background as I watch the markets.
 
lurkerlurker said:
You are trading the YM outside of the US stock hours? Who else does this as a matter of course?

Do you cover before the open to avoid volatile whipsaws.
Click to expand...

Hi LL,
I think Azimut posted by mistake....that long @ 27 was meant for Dax thread...

cheers
 
Azimut said:
Lurker, see post 4614 for you answer:LOL:
Click to expand...

Very amusing post. Thanks.

I see the YM held key support at 13700 earlier today. Would have been a nice place to take a position long with a 10 point stoploss and a target of 13750. Earnings season now, and apparently this drop is due to profit warnings.

I will be watching closely for a confirmed break of 700, after which I may consider a short. Otherwise, I am on the sidelines so far.

I don't really wish to trade at the moment except on news. While I have what appears to be a working intra day strategy I wish to position trade and haven't refined a system for doing so. Any non-news trades I make will be on the same intra-day plan as I am accustomed to using. Perhaps I am looking to trade for the wrong reasons at the moment, and I should paper trade or stay flat.
 
Hello & good afternoon all

Time on my hands today, so going to trade the US session for a few hours today.

Weather here glorious 28C rising to 32 C for the weekend.

Hope you are all doing well and milking the markets.

Lurker, as you know I position trade as well as day trade, I do have some info for you to perusal, which hopefully will help you in getting your strategy right, it is here on my laptop somewhere, I drag it out and PM you asap.

Notice the boards a bit quite, 2 things, maybe its dropping off a bit or the fact I away and not posting as much!!!!

Lets see how we get on, my target for the day, as usual 20 points then finish.

Clearly, without stating the obvious, "down we go", markets already marked down, how far will she go???
 
Dinos said:
Hello & good afternoon all

Time on my hands today, so going to trade the US session for a few hours today.

Weather here glorious 28C rising to 32 C for the weekend.

Hope you are all doing well and milking the markets.

Lurker, as you know I position trade as well as day trade, I do have some info for you to peruse, which hopefully will help you in getting your strategy right, it is here on my laptop somewhere, I drag it out and PM you asap.

Notice the boards a bit quite, 2 things, maybe its dropping off a bit or the fact I away and not posting as much!!!!

Lets see how we get on, my target for the day, as usual 20 points then finish.

Clearly, without stating the obvious, "down we go", markets already marked down, how far will she go???
Click to expand...

Thank you very much for that Dinos. Much appreciated. I've just gone long, and in addition I see heavy buy orders just around support (400 odd lots). I'll be quite happy to stop myself out and reverse if the markets tank, but I think it is still a bull market and there is strength above 700. I'm worried at my reasons for trading though.

Will check back in here soon.
 
Lurker, there will be no positions taken by me until the market opens, only when my inidicators highlight the trade will I take, whilst daytrading, I personally feel to exposed taking a position when the markets closed.
 
Dinos said:
Lurker, there will be no positions taken by me until the market opens, only when my inidicators highlight the trade will I take, whilst daytrading, I personally feel to exposed taking a position when the markets closed.
Click to expand...

A good position to have. I don't usually trade the open either. For some reason I saw an opportunity to get in at support circa 700. Silly me. Considering scratching this at breakeven or taking my loss now before the market gaps down 50 at the open. I still see strength above this point, with a revised target of 13740. I have a hard stoploss in place at -20 (which is really -16 after spread, so not too bad). That should be enough room for the buy orders to kick in at 90 and if they don't I'm wrong.
 
Well those 400 orders got pulle or absorbed pretty quickly. Hopefully the big boys are buying, but I think I may be on the wrong side of this.

I shouldn't be day trading this market, or looking to position trade without a firm strategy in mind. I should stick to news only while I refine my position trading system. I took this trade without even the benefit of tick!
 
Dinos said:
Lurker, good luck in what ever decision you take
Click to expand...

Thanks Dinos. I'm long, bullish in the short term, and stops are in (so emotions are out). I'll either take a loss of £20 or make a profit. Still at £1pp, this won't break the bank, speculative blunder at worst.

Glad to see you back on the boards. Most of the regulars no longer post much, and I'm learning to position trade so not too active here except around economic news.
 
Lurker, I won't be around for long, my wife and kids come out next week, then the computers off until September. I think, Atilla has a new contract and is trading more in the evenings and I notice Firewalker states he's busy at the minute.

I have had a quick scout through my old files on position trading, I think you will find them usefull, (perhaps if you want to PM you email address I can send then through).

fwiw, I find position trading very easy, with extremely simple entry & exit rules, it is (imo) a stress free way of trading. I suppose the only downside is the size of you trading pot, as if I am looking at weekly, monthly positions, you need to have sufficient capital to allow the normal daily market fluctuations whilst the positions gathers momentum
 
Dinos said:
Lurker, I won't be around for long, my wife and kids come out next week, then the computers off until September. I think, Atilla has a new contract and is trading more in the evenings and I notice Firewalker states he's busy at the minute.

I have had a quick scout through my old files on position trading, I think you will find them usefull, (perhaps if you want to PM you email address I can send then through).

fwiw, I find position trading very easy, with extremely simple entry & exit rules, it is (imo) a stress free way of trading. I suppose the only downside is the size of you trading pot, as if I am looking at weekly, monthly positions, you need to have sufficient capital to allow the normal daily market fluctuations whilst the positions gathers momentum
Click to expand...

Thanks Dinos - I'll PM that to you now. Have a good holiday. I'm stopped out for -18 including spread. Let that be a lesson to me. I intend to build up a bankroll before position trading, so that shouldn't be too much of a problem.

All the best.

Tom.
 
Dinos said:
Lurker, I won't be around for long, my wife and kids come out next week, then the computers off until September. I think, Atilla has a new contract and is trading more in the evenings and I notice Firewalker states he's busy at the minute.

I have had a quick scout through my old files on position trading, I think you will find them usefull, (perhaps if you want to PM you email address I can send then through).

fwiw, I find position trading very easy, with extremely simple entry & exit rules, it is (imo) a stress free way of trading. I suppose the only downside is the size of you trading pot, as if I am looking at weekly, monthly positions, you need to have sufficient capital to allow the normal daily market fluctuations whilst the positions gathers momentum
Click to expand...


Spot on Dinos. I'm off ill today with the lurgies and so posting more but otherwise don't like to post from work, as that would be abuse of position and big distraction etc. Anyhow, instead of intra-day trading this type of trading is so much easier.

I think you'll be good at that LL.

I'm using weekly daily and 4 hourly charts. 4 Hourly charts are great.

Good day today too as I'm short on DOW and DAX. Went short on cable too at $2 levels.

Good trading all. :)
 
Mike, looks like it suits you as well, well done on your positions and good trading
 
Steve, 584 is R2, so can understand that, 30 Min backed back up by 1 hour chart, looking for further declines??. What do you think??
 
You must log in or register to reply here.

Similar threads

G
Naz 3000
Replies
8
Views
3K
pssonice
pssonice
Pat494
EOD Dow
Replies
18
Views
4K
Pat494
Pat494
D
3 Dow Futures
Replies
1
Views
2K
blackcab
blackcab
H
U.S. stocks closed higher ‧Dow Jones and S & P hit 5-year high - hpc
Replies
0
Views
2K
hpc
H
Zenda
Brokers Revenge - Spikes
Replies
10
Views
3K
RU12NVME51
R
Top