Dow 2007

Hook Shot said:
My reason for going short today was in the expectation of a market pullback...
The short was executed when the market had already had quite a rise so unless it was going to go beserk the risk was manageable .... for me.

As it turned out I was able to add to the short at a higher price - well done FW for your comment about another 100 or so pooints! - and when the pbk came to around the 830 area was able to close at a profit... for second time (did it in pre-sesh too). Did I get what I expect .... not really was the day profitable yes but could have been moreso...

FW you're a disciplined day trader and I'm more of a swinger... looking for high probability triple digit moves. Yes this does mean I leave many of the intraday moves on the table.... but it does not bother me too much cos to get those bundles of cash I would have to pay alot more attention .... whereas as a swinger I have time to write silly messages on bulletin boards ........ and write up one or two projects at the same time....

Would I make more money as a day trader....? Probably a lot more... but in this kind of volatile environment swingers do okay :D When low vol comes back things might be a bit different at least as far as playing indices are concerned...
Click to expand...

Hi Hook Shot, you mention adding to your shorts in your post above . "another 100 points or so .." does that mean your first position went into severe draw down before you added? .. :confused:

as for me today . I made some points , lost some points, ended the day down 40 points which is a *&%£** as I made those 40 points yesterday.. my stupidest trade was buying the top of the FTSE .. :mad: :rolleyes: and adding to it .. doh!
 
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Hiya...

shortorlong said:
Hi Hook Shot, you mention adding to your shorts in your post above . "another 100 points or so .." does that mean your first position went into severe draw down before you added? .. :confused:

as for me today . I made some points , lost some points, ended the day down 40 points which is a *&%£** as I made those 40 points yesterday.. my stupidest trade was buying the top of the FTSE .. :mad: :rolleyes: and adding to it .. doh!
Click to expand...

Yes some swing positions do go underwater for a bit... I'm not sure a public explanation would help... I'll probably reply to you privately...
 
lurkerlurker said:
Isn't that a little bit of a contradiction? Also, no stops? Where are you wrong? 13,500? 14,000? 14,200? A new all time high? I don't see the Dow taking out August lows, but that isn't the point. The point is are you comfortable with your risk, and do you have a plan for each trade that gets you out when you are "wrong"?

I'm a little concerned as I know you've been burned once or twice being a little too stubborn in your shorts. Just trying to help - I'm still a pretty rubbish trader who keeps bailing out of his hourly positions too quickly!
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Not really Lurker... It depends on your trading time frame.I will look at the situ again in the morning and take another view.

I do place SL when going long as I see the down side as an abyss...

I think we will head towards 12860 (c) in this morning session before anything else for starters.

Currently 12887 (c) on CMC prices. If 12260 is taken out then this can go all the way to 12810s imo...

Heading due South is good for me. Trailing stops now in place @ 12910 I'll get some pips out of this last night short either way...
 
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Hook Shot said:
Yes some swing positions do go underwater for a bit... I'm not sure a public explanation would help... I'll probably reply to you privately...
Click to expand...

I guess that's pretty normal for a swing position...

As an intradaytrader I don't allow positions to go against me much. There's always the possibility of a re-entry.
 
seems we will have another zig zag day :p

wouldnt be surprised to see a 2820 low on the futures :eek:
 
mrng chaps looking good for the long part of the position as posted last night dont forget still got the short bias here, higher it goes the harder it falls imo, did anyone else take the second hit on the FTSE will you be looking to take at 208(squidgy safe option) or 258(steel gonnads option)
 
Just a thought.....

We had insiders in both spx and dow and so a break of tues range should be interesting.

US still has not posted anything more than a 2d counter trend for ages ... and even a run into Friday would only be 4d up which is standard counter trend territory!!!

13092ish is first potential rez being the 25% of the decline off the all time highs ... but only +120 from here as I type.......... 13285/90 might be more important if we travel that far being the 38% level.

Ftse is still playing around below 200 and more significantly below their 38% retrace around the 300-310 zone.........so at 190 as I type ... if we get a bullish dow ftse could be worth
+110 from here before the end of this week.



Lets see.....
 
Hook Shot said:
We had insiders in both spx and dow and so a break of tues range should be interesting.

US still has not posted anything more than a 2d counter trend for ages ... and even a run into Friday would only be 4d up which is standard counter trend territory!!!

13092ish is first potential rez being the 25% of the decline off the all time highs ... but only +120 from here as I type.......... 13285/90 might be more important if we travel that far being the 38% level.

Ftse is still playing around below 200 and more significantly below their 38% retrace around the 300-310 zone.........so at 190 as I type ... if we get a bullish dow ftse could be worth
+110 from here before the end of this week.



Lets see.....
Click to expand...

Got stopped out and went back in short again around the 12960s and now makig a loss for the day.

I think this flurry by bulls is heading to 13063 which is R1 on my pivot points on the hourlies.
 
hello DC2000,
A couple of days ago you said we could get a move upto the 13600 area. Do you think we are going to break the 12500 area lows before we get that move up.

thanks,

breadman
 
time for a wee short on the futures :p from 3050 :confused: :p

seems like winnie wants the loo again :p my risk is 8 pips :cheesy:
 
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breadman said:
hello DC2000,
A couple of days ago you said we could get a move upto the 13600 area. Do you think we are going to break the 12500 area lows before we get that move up.

thanks,

breadman
Click to expand...

hi breadman
the low Im looking for is 12680s then onto 13600+ as I said last nightmy calculations are pointing to a 400 point day with all points on offer should be quite a ride
 
short dow 13040, looking to close at the close today if it's a down day, it must close below last nights close 12958 or I will roll the trade over. If it get's to 12700 during the day I will also close.
 
Nice channel forming with small pull backs, (5 min CASH)
Looking for a good break of the channel before going short
 
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