007, Any view on timing ?
cheers bud... Yesterday was my best day ever tho, took well over 1000points as all the markets head south. The spmib gave me 900points in one nice trend, bottom of the dow, ftse and dax all went. Then the nikkei was just the cherry on the cake
You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.
Abraham Lincoln
Good call that 007, one that I 'was' going to take and didn't! However, I'm short 13872 from last night, and looking for a similar target. Stop in at 862 at the mo, so a free trade. Hope you have a trailing stop in also, I wouldn't leave it where it is , just to see the profit evaporate?
Your entry, however, looks pretty good to me. I think at that level a few days back, the MACD crossover was in all time frames up to and including 4 hr.
Was your entry based on anything to do with that, just out of interest?
cheers - Tricks
P.S. It's tempting to close this trade now, as it is 52 pts in profit.
P.P.S. As I type, now back to 30 pts !!!!!!! Mmmmmm. Beginning to think I should have taken the 52.
1000 points!!!!
Kevin 21
I'll be blunt and to the point, I've been trading a decade now and never in my time have I come across a newcomer to trading who can return so many points so quickly, as a relative newcomer to these charts, I generally can recognise traders who hold a breadth of knowledge about the market, Atilla, Dinos, Firewalker, Hookshot & 2468 Steve to name but a few, (apologies to those I haven't mentioned).
I note that Firewalker & Dinos generally post their trade on the board less than a minute after the event, this give the trade authenticity, recently Firewalker has suggested that if anybody posts a trade, back track when possible and put your reason and analysis why you made the trade.
Kevin, all due respect, all I read from you is made xxx points, I maybe speaking out of turn, but this thread is an opportunity for old heads and newbies to learn, simply saying how many points you gained is of no use to anybody.
May I suggest then, you post 3 or 4 of your trades as they happen, and why you entered, if what you say is correct in that you trade approx 100 times a day, it is not possible to post them all, but in posting some gives authenticity to your claims
Kevin 21
I'll be blunt and to the point, I've been trading a decade now and never in my time have I come across a newcomer to trading who can return so many points so quickly, as a relative newcomer to these charts, I generally can recognise traders who hold a breadth of knowledge about the market, Atilla, Dinos, Firewalker, Hookshot & 2468 Steve to name but a few, (apologies to those I haven't mentioned).
I note that Firewalker & Dinos generally post their trade on the board less than a minute after the event, this give the trade authenticity, recently Firewalker has suggested that if anybody posts a trade, back track when possible and put your reason and analysis why you made the trade.
Kevin, all due respect, all I read from you is made xxx points, I maybe speaking out of turn, but this thread is an opportunity for old heads and newbies to learn, simply saying how many points you gained is of no use to anybody.
May I suggest then, you post 3 or 4 of your trades as they happen, and why you entered, if what you say is correct in that you trade approx 100 times a day, it is not possible to post them all, but in posting some gives authenticity to your claims
OIL is going ape ......... you guys really should take a look .... for old school dow traders this is the one...
http://www.livecharts.co.uk/MarketCharts/brent.php
Oh I'm looking to short but trend says we get a 7800 test so just jiggling at the mo nothing to speak of....
http://www.livecharts.co.uk/MarketCharts/brent.php
Oh I'm looking to short but trend says we get a 7800 test so just jiggling at the mo nothing to speak of....
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Kevin21
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if you look back through all my posts you will find that a lot of them i have posted at the time i've traded them. Recently i've have just posted at the end of the day because i am busy trading, scrolling through a forum when you're in many trades is a bad distraction. Also if you look at all the markets that i trade, on tuesday over a 1000 points wasn't really to hard. For example the spmib was a clean down trend all day for 900 points and to be blunt, you were an idiot if you were in the market and didn't see it coming at the time. I'm sure people here made well over 100pts on the dow alone.... do the maths. Don't forget i trade many markets and i sit here all day every day. Some of the markets i trade have a daily range of around 400pts. Infact i'm gonna stop now because i can't be bothered + don't need to justify myself to you or anyone else.
edit to say that i wasn't just a complete new guy who walked into this either. Ok i've only been live trading 6months, but i've been lucky enough to have a handful of experience traders help me along the way. The couple that are on these forums know who they are
edit to say again - if you've got nothing good to say then don't say anything at all. If you really feel the need to question me or tell me i'm twat then pm me because i really can't be bothered having arguments on public forums
edit to say that i wasn't just a complete new guy who walked into this either. Ok i've only been live trading 6months, but i've been lucky enough to have a handful of experience traders help me along the way. The couple that are on these forums know who they are
edit to say again - if you've got nothing good to say then don't say anything at all. If you really feel the need to question me or tell me i'm twat then pm me because i really can't be bothered having arguments on public forums
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Tightened trailing stop to 832 and just got taken out for +40. Market already back down to 818 as I post. However, I just hate to see the whole trade go back to zero profit, which happens 'oh so often'. Probably regret moving that stop so close?
If I had a gun, I'd be tempted to shoot myself right now, market down to 788. Only just hit the trailing stop and boom, off it goes down another 44 points. Knickers!
firewalker99
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Actually, I find it a positive distraction. I see no reason to stare at your trade for two hours if you have stop & target in place. I've been posting all of my dow trades live since a couple of months and have the time to trade DAX, NQ and ER2 next to DOW while I am busy on this forum, checking my emails, listening to music, etc... Unless you are a scalper (and by your comments about riding the trend I can see that you are not), you should be having plenty of time on your hands whilst trading. Yesterday I posted a trade with 2 minutes later the reasons for entry (one potential selling climax and the other being a re-test of the low), no one said you need to write proza or have to show full disclosure of your methods...
I doubt anybody invites you to justification Kevin... it was merely an invitation to post some live trades, if only 1 a day or a week it could help the people on this board and we could exchange some views/ideas about the market. As several traders have commented, I can honestly see little point in posting the number of points you've made at the EOD without explaining some reasons for entry/exit. I have given lurker the complete basics for a system away... for free... so in my view Azimut & laptop are correct to challenge you to come up with something more than just a points report :|
Having experienced traders help you is obviously a big benefit. So why not share some of that help/knowledge you've gained from others too? I have gained a lot from other people on this board and am now giving some of that back.
I'm really surprised why you are coming out so strongly Kevin. All people were asking was to join the other members who give their insights about the market, no one insulted you, so why go into an argument? I'm sure you can wipe the floor with us amateur traders, so why not show us your hand
firewalker99
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ok, let's talk about the dax / dow divergence last night... we had DOW on support but dax still somewhat off.. Seems like it's making up for that this morning with DAX approaching 7625-7650 (but I won't risk longing dax it's a different beast from the dow)
now it seems like they are converging again with DOW still trading above yesterday's low and dax some more downside potential... wouldn't be surprised if US open means up again
although if this support blows than I suspect yesterday's volume was only the beginning...
Hiya Fire
I've got 7570/80 for cash dax being 1/3 of the march-july move but it's just a number.
Ftse should react somewhere here given 50% retrace of March rally circa 6375.. and 200ma around 6350 so we should be close to something .... but we shall see...
regards
h
lurkerlurker
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What the hell was that!
I should have been shorting the Dow since 9am this morning, but was fighting my bucketshop and doing other stuff. Also, I really don't like trading on very light volume before the open.
I'll most likely take a trade over the US Unemployment number at 13:30, and from there wait until the open has died down - so no position trades until 3pm. Premarket is most often a small fraction of the daily range, so there should be enough pips for us all between 3 and 8.
I'm looking at the YM book, and we look pretty close to a "no bid" situation! If 700 breaks on volume we'll see 13500 futures by the EOW.
I should have been shorting the Dow since 9am this morning, but was fighting my bucketshop and doing other stuff. Also, I really don't like trading on very light volume before the open.
I'll most likely take a trade over the US Unemployment number at 13:30, and from there wait until the open has died down - so no position trades until 3pm. Premarket is most often a small fraction of the daily range, so there should be enough pips for us all between 3 and 8.
I'm looking at the YM book, and we look pretty close to a "no bid" situation! If 700 breaks on volume we'll see 13500 futures by the EOW.
firewalker99
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Stranger things have happened, but I'd be very surprised to see that so quickly.
US Housing... ON SALE!!!
US Homebuilders are in meltdown but its a simple business and people will still want somewhere to live presumably.... so once they declare their right offs and start getting off with one another .... it will be easy money ........
It's sooooooooo obvious.... I'm sure Buffett is buying from the panic sellers here........ when he's scaled in properly he'll anounce it and then the late comers will start buying..... making him money effortlessly .....
apologies if a bit random ...:cheesy:
US Homebuilders are in meltdown but its a simple business and people will still want somewhere to live presumably.... so once they declare their right offs and start getting off with one another .... it will be easy money ........
It's sooooooooo obvious.... I'm sure Buffett is buying from the panic sellers here........ when he's scaled in properly he'll anounce it and then the late comers will start buying..... making him money effortlessly .....
apologies if a bit random ...:cheesy:
lurkerlurker
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Took +1 net of a 4 point spread out of that unemployment number. There was 15 points on the table, and I prematurely covered on a very small bounce. Ouch!
Edit - nice to see the market didn't move all that far from my exit point. US GDP tomorrow will be nice.
Edit - nice to see the market didn't move all that far from my exit point. US GDP tomorrow will be nice.
lurkerlurker
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Very very interesting. Remember when he bought AMEX after it had to meet huge obligations in respect of the great soybean swindle?
Yeah, Warren Buffet could make even more money with pump and dump like that. "Warren Buffet owns this stock" is enough pump for most folk. Of course, I would rather just buy BRK.A, but I can't afford to (yet).
Yeh and remember when he got into citigroup when they had probs.... I think someone said it now yields him well over 80% per annum .....yes 80% plus divis alone ..... you aint gonna get those kind of returns buying brk.a probably...
I know you've mentioned that you're not a value/recovery guy but once these dogs bottom the only way is up all you have to do then is keep moving up your stop... but I'm waffling....
Edit: maybe it was Prince Al Waleed who bought Citigroup ... should have checked it first
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