Dow 2007

[29Investments]

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.

I dont believe that there is any difference between sb and cfds these days (apart from the capital gains tax that is). Capital spreads pay you funding on short positions.

I use both, but the CFD acct is only because you can use CFDs on a SIPP. With identical spreads, instruments and with CMC identical software, it makes sense to take the tax advantages surely.

Of course disregard all of above if you want to trade direct access futures. Commissions and CGT then BUT.......... No spread :cheesy:

 

[daytradingUK]

Ah but I use my CFD account for a little DMA with equities too (mainly the miners that give me such a headache).

Still each to their own and I hear what your saying with sb.
I'm currently with IG and ETrade (ETrade is better on commissions but prefer IG software).

 

[29Investments]

Ah but I use my CFD account for a little DMA with equities too (mainly the miners that give me such a headache).

Still each to their own and I hear what your saying with sb.
I'm currently with IG and ETrade (ETrade is better on commissions but prefer IG software).

OK, Interesting... Can you clear up a question I have ? Do you get real DMA or synthetic provided by the broker. I.e. If you stick in a bid which is above the current market bid, will the whole market see it or just IG/e-Trades other customers ?

 

[daytradingUK]

I have stuck orders onto the orderbook but at the yellowstrip or below. That was IG, I think the ETrade stuff is all their BoS deciding whether it jumps in through the orderbook or goes synthetic. I think it depends on the risk they want to take on the stock although am not an expert on it.

The web based IG is not DMA though you have to get a free upgrade for their pro app, its not setting the world on fire but I like it.

Oh and before anyone asks I don't work for either of them! I am an amateur trader/ software programmer

 

[Dinos]

Looking goood to hold overnight. Night all

 

[Dinos]

Steve, have you checked out stockcharts yet?

 

[stevechelt]

Thanks Dinos! I paper traded your settings (without the TRIX as I don't have the chart yet), and made 65 points net, with just one small loss of 2. That was between picking the kids up from school, helping make their meal and doing homework with one! I will try with £1/pt tomorrow. My horrible short is looking better now and I feel it may look better again tomorrow, which I hope has not given it the kiss-of-death.

I use Worldspreads for SB, they have a 2pt spread on the rolling future during market hours. Anyone know of any better sb'ing companies, they looked the best a while ago but times change.

Time for a drink now to celebrate my 65 paper points of almost stress-free trading. I suppose I should just have a paper drink!

 

[tightstops]

Me too hornblower, been long since 12,571 so looking rosey.

Why are some of you guys wanting to short it here ??

Now, am I missing something here … if the markets going to drop I'd want confirmation, and as I'm an EOD trader I'd want it to drop probably about 100 points for it to break any support levels (maybe a little more) but then I've been long since 12,571 so 200 points is not a big deal.

I had tried to anticipate reversals in the past and some I predicted right and some wrong, mostly wrong. Anticipation almost killed my bank, so now I want confirmation every time. :cheesy:

youre not missing anything kinger. for the perfect example of how to get into a bet as an underdog sell the dow or buy usd/cad

 

[Pat494]

Its going UP imho
bear titbits on toast.

 

[lurkerlurker]

Oh dear.

Sold £2 at 14:33 @ 13230 on 120 EMA cross / retrace. RSI and CCI are in normal ranges.
Sold £1 at 14:58 @ 13216 (add on retractment back to EMA, continuation)

It keeps breaking the EMA in the other direction by 1 or 2 tics, and the sudden rally is worrying me...

 

[brutusdog]

very quiet on here today, im on the sidelines at the mo...

 

[lurkerlurker]

So my position is £3 at an average price of 13225...

A few painful retracements, but we've just had a small downside break in the EMA(100). CCI and RSI are dropping with price also. I think that 13227 is a little high, and volume drops off sharply at higher prices. I think a lower close isn't too much to expect. There are many gravestone doji and hanging men on the (1 min) chart also.

Anyone else have a position in todays Dow?

 

[lurkerlurker]

Sidelines are where I wish I was right now brutus. I am expecting a drop, but not too sure exactly when.. Holding my short from earlier, and angry for not taking 25 tic profit when it was on the table.

 

[stevechelt]

I had one little long earlier, for 17 pts, now also on the sidelines

 

[lurkerlurker]

Quick terminology question: for indices (whether CFD, SB, or DMA futures) - is it tic or point (I'm pretty sure pip is only for forex)?

 

[lurkerlurker]

Anyone else see a potential head and shoulders forming here?

 

[29Investments]

Quick terminology question: for indices (whether CFD, SB, or DMA futures) - is it tic or point (I'm pretty sure pip is only for forex)?

Futures is ticks

SB is Points

(But use any of the above and everyone will know what you mean )

 

[brutusdog]

dont think it matters what you call them as long as their in the bag

 

[lurkerlurker]

Thanks for clearing that up 29. Brutus - fair point, but I'm holding my short...

 

[lurkerlurker]

Interesting. On a 1 minute chart, we have 4 candles with OHLC below the EMA(100). No divergences in any indicators, solid volume. Is this the reversal?

And as I type this, a gravestone doji...