Dow 2007

I guess what I don't understand is why some people think theres no more money around, thus will drop ? whos got the money ?

I bet someone said the same thing at 10,000 :)
 
Lurker, don'y apologise, we are all here to do the same make money, and if we can share ideas and strategy's, hopefully we can all win, good luck
 
Ok if your scalping, but I need a steady hand for my day job ... so not for me.
 
Don't profess to been smart, when I started trading 12 years ago, I loss my trading pot twice, due to lack of knowledge and understanding. I have developed a trading system thats suit my style and works for me.
 
Thanks. My short is going well, but I don't have it in me to hold a position overnight just yet. I've held limit orders in equities overnight after sound TA, but nothing more. I've effectively paid for financing in the spread, so I may as well.

I'll see how it goes...
 
Who professed to be smart? (hopefully not me - I'm new to this, and probably will be in 10 years)
 
My 5 min set up confirming my 1 min charts,and the price action is trending down below the ema (8), the 10 min chart is gearing towards supporting the move.

Any else any position, apart from those already posted
 
I dont think its unreasonable for people to be looking for another pullback.
We're at all time highs against a backdrop of a slowing economy plus all the other worrisome global conditions that have been listed above.
Most importantly though we all know what happened last time it pulled back. The longs all scrambled to lock in profits and we saw a massive drop - thats the real reason the bears are so hopeful (including myself) who wouldnt want another go at a 500 point drop !

Same as always - fear and greed :)
 
I don't profess to have proven success with the Dow, but I am currently using a 100 period EMA, 14 period RSI, and 150 period CCI - anyone else use any other indictors.

I have read some articles suggesting an entry in the direction of an EMA break, which seems to make sense since every losing trade I've had on the Dow this week would have violated that method if I had had it in place.

I also use a 14 period EMA for crossovers.

Anyone else care to weigh in?
 
I'm not smart … far from it .. lucky streak but realised I can't day trade ..at all. So took a step back for the bigger picture.

Don't profess to been smart, when I started trading 12 years ago, I loss my trading pot twice, due to lack of knowledge and understanding. I have developed a trading system thats suit my style and works for me.

Well, I almost lost all mine following Dowtrader .. anyway ... I wokeup and saw the light. Trouble is you only learn from bad experiences and they always cost you ! But you almost need to go through this until you learn, I got fed up with looking at a screen every 15 seconds. If Finspreads crashed on you around Feb time it we probably me logging in again !!!
 
Lurker, probably said before, I use Standard RSI & Trix, MACD, set at 12, 39, 9 and ema set 8 & 21, act on 8 day
 
Sorely tempted to stick a sell stop somewhere.

Wall Street Weekly(Jun) - 4 May (TradIndex)

Sold @ 13268
Coverered @ 13258
 
Thanks for those settings. I am still on intraday trading, I hope to swing trade for a 3-4 days when I improve.
 
fwiw, my 5 and 10 min charts point to holding my short, 1 min ema 8 crossed 21, but histogram, suggesting trend change back downward, difficult one, at this point I would close the position, bit haven't and watchiong closely, alloweing short to continue
 
Lurker not sure how other people feel about it but I use CFD account instead of spreadbetting, can be risky and you pay capital gains but a good vehicle for learning and if you short you get the interest.

Can't believe we're in May and the profit taking hasn't started yet... well as you say the volumes are extremely light so it could be some big boys having their fun as they do.

Hope you guys have some success, take it easy gents.
 
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