Dow 2007

[Dinos]

Aquired from elsewhere

US OUTLOOK: From economist Chris Low at FTN: "Bernanke will talk
about inflation today in a speech to the NBER (National Bureau of
Economic Research). According to the WSJ, the audience will want to know
if the Fed prefers a 1.5% or a 2% core rate of inflation, a question the
Chairman will not want to answer."

 

[rathcoole_exile]

down to 662 (F). this beautiful. I've been short for days, paper losses of hundreds of $, now finally back in positive territory. have tightened up my stop now though, but real glad I kept faith in my interpretation of my indicators. i hate to think I might have panicked or got stopped out for big losses at the end of last week only to see things finally come right.
Huge sigh of relief ..... cigars all round chaps.

 

[Atilla]

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??

Closed both DAX and DOW shorts for nice profits.

Still short on cable but losing on that at the mo.

Not sure what that turn was but didn't want to risk gains.

I suppose we may have a some pull back.

 

[2468steve]

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??

I'm short m8 from y'day on Dax,SPX and NDX.......I had sell signals on all 3 indices but current strength in NDX is worrying.....

 

[lurkerlurker]

Long 77. Target 90.

 

[lurkerlurker]

Long 77. Target 90.

And out with +2. What part of target 90 didn't I understand. Second bad trade for the day. I should stop now.

 

[lurkerlurker]

Short 88. Target 70. Stoploss over 700.

 

[lurkerlurker]

Short 88. Target 70. Stoploss over 700.

Out with +2 again. Just can't seem to hold. That is me with net -14 for the day over 3 trades, 2 wins, 1 loss, average loss way too high, cutting winners short, etc.

This is why I wanted to stop day trading.

I'm finished for now.

Good trading all.

 

[Dinos]

Lurker, unlucky my friend, I'm still flat at these levels, whilst we hover around R2, I propose to stay out, 5 thro 15 mins charts perhaps looking at the upside, 30 min thro 2 hour charts suggesting further declines, 3 & 4, not confirmed downward pressure (just yet). with that in mind, I going away for a while and will return later when there may be more corelation between the timeframes.

Good Luck

 

[2468steve]

NDX has now closed it's opening gap....normal service resumed hopefully....

 

[lurkerlurker]

Short 88. Target 70. Stoploss over 700.

Target hit and I have +2 to show for it! Very angry with myself.

First trade was premarket against my rules and cost me 18 pips.
Second and third trades hit their sensible targets, but I covered prematurely for net +2 each time.

3 trades, 3 bad trades, 3 examples of not following the plan. Very annoyed with myself.

Had I not taken the first trade because it was premarket and held the other 2 trades to the plan I would be up over 30 pips now instead of net -14 for the day.

 

[2468steve]

Closed both DAX and DOW shorts for nice profits.

Still short on cable but losing on that at the mo.

Not sure what that turn was but didn't want to risk gains.

I suppose we may have a some pull back.

keep an eye on that cable m8....$ getting smashed at the mo'.....Bernanke at 6pm may swing it further.....
Euro breaking out and Yen back in it's channel

 

[lurkerlurker]

Great. Took another ill advised trade. Short coming up to resistance at 700. Got stung for a quick 20 pips. So, -34 for the day.

I'm no longer trading until I see an edge. I should have just written a £35 cheque to charity. Never mind - I'll be back here in a few weeks with a bankroll to position trade I hope.

 

[buzzee]

lurkerlurker

You need to stop daytrading, is not for you.
I have been trading for many years and lost a lot of money at the start of my trading career, mainly daytrading.

I remember myself doing exactly the same mistakes and having the same thoughts as you, "if i would have done this and if i wouldn't have done that....".

I have been a succesful trader for the past five years, but i will not touch daytrading.
Buy these 2 books and read them well, one day you will thank me!

Stan Weinstein's "Secrets for Profiting in Bull and Bear Markets"
Mark Douglas "Trading in the Zone"

They saved me.

 

[Hook Shot]

keep an eye on that cable m8....$ getting smashed at the mo'.....Bernanke at 6pm may swing it further.....
Euro breaking out and Yen back in it's channel

Steve can't see B2 saying the dollar is tanking ... I support a softer $ ..... it's in our national interest.... so the spike highs must offer some scalping opportunities... no ?
Prince Naz still still weathering the storm...!

Edit : sorry wrong thread.....

 

[lurkerlurker]

lurkerlurker

You need to stop daytrading, is not for you.
I have been trading for many years and lost a lot of money at the start of my trading career, mainly daytrading.

I remember myself doing exactly the same mistakes and having the same thoughts as you, "if i would have done this and if i wouldn't have done that....".

I have been a succesful trader for the past five years, but i will not touch daytrading.
Buy these 2 books and read them well, one day you will thank me!

Stan Weinstein's "Secrets for Profiting in Bull and Bear Markets"
Mark Douglas "Trading in the Zone"

They saved me.

I've read Douglas, but I need to go back to The Disciplined Trader and Trading in the Zone. I'll take a look at Weinstein also. What instruments do you trade now, and are you position trading.

Today should (if my discipline holds) be my last intra day trade on the YM. I got thoroughly bent over today and it was my own fault.

I'll be back in a few weeks hopefully with a bankroll and a swing trading strategy.

Thanks for the input!

 

[buzzee]

I trade UK stocks and swing trading the DOW. For swing trading I use the free Dowstomper's signal ,together with a strategy that i put together and at the moment it works better then just following the "Dowstomper".
But i need to stress out that my main trading method is medium term trading the UK stocks using Weinstein's strategy book, I have successfully traded stocks for 5 years and i would not change my way of trading for anything else!

 

[Pat494]

I trade UK stocks and swing trading the DOW. For swing trading I use the free Dowstomper's signal ,together with a strategy that i put together and at the moment it works better then just following the "Dowstomper".
!

What do you call Dowstomper ? sounds brutal !??

 

[Atilla]

keep an eye on that cable m8....$ getting smashed at the mo'.....Bernanke at 6pm may swing it further.....
Euro breaking out and Yen back in it's channel

Yes you may be right Steve. It's just that at the beg of the week I had it marked to fluctuate between 2 - 2.0200 and feel $2 needs to be retested.

Previous drop picked up from around 2.0180 and then 2.0160ish. These levels are very strong. May ditch my position if it breaks out of 250 again.

This DOW though is some performer. Good day but seem to have given it back on cable.

Regarding tonight with Bernanke speaking I intend to close all positions and just listen. A bit like your previous excellent predictions do you have any vibes for this evening on the DOW or DAX?

 

[Dinos]

Good evening all