lurkerlurker
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Well I do feel inadequate. Still, that was my first ever attempt to trade news, and I didn't lose.
Great work Dinos - you are The Master of the Universe with a BSD!
blankmaster
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Just tried to play the 1-2-3 on that. Multiple requotes on CMC. Eventually grabbed 17 pts.
lurkerlurker
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Requotes from CMC? You're scaring me. More details please (and do they show up as such on your statements?).
I got +13.
I got +13.
lurkerlurker
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For clarification, thats short as soon as you can, then SAR when it stops plummeting, and then cover near pre-news resistance?
Also, I think they went to manual fills there. Stuff took ages, but I'm not complaining.
blankmaster
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It's just their way of stalling. You click sell/buy and they throw another window at you and you have seconds to respond. What could have been a 40pt short got reduced to 17.
Dinos
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LL, not great work, like you I took a structered position based on what I saw, foolishly, I took a huge gamble on that trade, it could have so easily gone the other way. But hey, its nice to get a good winner, been an exceptional week for me, thinking about taking take the rest of the week off, then again, just closed last trade for + 10, thats me done for today.
By the way, whats BSD stand for
By the way, whats BSD stand for
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lurkerlurker
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What does this window say, and whats the fastest way to tell it "trade at the price I asked for damnnit" ?
lurkerlurker
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I've had a shocking day Monday, good day with small stakes Tuesday, and an okay day today (+14 over 2 trades).
I'll call it a day quite soon, I want another short from 13350 though.
I'll call it a day quite soon, I want another short from 13350 though.
blankmaster
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To be honest I didn't read it. Trying to watch two screens here, aint got four eyes
It's a bit of a jolt getting one and my reflex was to cancel it.
It's a bit of a jolt getting one and my reflex was to cancel it.
lurkerlurker
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Shorted (13364) , and had an open profit of around +15 tics - left it on the table due to slow reaction, and now heading for a loss.
lurkerlurker
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I'm going to finish this trade and call it a day I think.
On the BSD:
"[John] Meriwether, to use Michael Lewis' term, was a Big Swinging Dick, a Master of the Universe, an Uber-Trader."
It's a compliment (and in hindsight, probably highly inappropriate - sorry if I have caused any offence)
lurkerlurker
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Sorry about the wait there. MarketMaker is still confusing me. I was wondering about some stuff. I appeared to have covered at 13350.
Entry was on 1 min chart candle patterns, confirmed by bearish RSI and MACD.
Confirmed by MACD histogram divergence on the 5 min (failure to register a new high).
I don't take new trades in the last hour of any index (and I don't like to be holding positions as the close approaches either). I've lost track of pips, will work that out later, but I have grown my account by 7.2% today, and offset more of my losses. Time to take the rest of the day off methinks.
Maybe back tomorrow.
Enjoy your abnormally large profits!
Entry was on 1 min chart candle patterns, confirmed by bearish RSI and MACD.
Confirmed by MACD histogram divergence on the 5 min (failure to register a new high).
I don't take new trades in the last hour of any index (and I don't like to be holding positions as the close approaches either). I've lost track of pips, will work that out later, but I have grown my account by 7.2% today, and offset more of my losses. Time to take the rest of the day off methinks.
Maybe back tomorrow.
Enjoy your abnormally large profits!
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Dinos
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Lurker, I didn't have a signal when you did, I got mine a little later on the 1 min chart, macd divergence and cross over, Trix crossover, I don't rely to much on RSI. I don't enter a trade on these entry points alone, I wait for my final confirmation a crossover of the ema 8 & 21, this allows me to rule out false signals than can generated by trading the MACD alone, although, I don't enter a trade at the high or low or the movement, I generally jump on board, probably, higher or lower than you do, after the movement has begun.
As we are now, my indicators have gone to sell, but I'm not taking the trade, I have concerns about the PnF as well as I'm off to watch the Man U V Chelsea match in 10 mins
Good Luck & speak tomorrow
As we are now, my indicators have gone to sell, but I'm not taking the trade, I have concerns about the PnF as well as I'm off to watch the Man U V Chelsea match in 10 mins
Good Luck & speak tomorrow
lurkerlurker
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Cheers for that. I've finished for the day also. I've never read point and figure charts (although I hear they can be pretty useful). You have an interesting take on the TA aspect. I agree with everything you have said, except the 8 and 21 ema. Confirmation is good, but even with a fast ema you are waiting aroung quite a bit for a crossover.
If you got your signal a little later, what data feed do you have? I am forced to use the CMC feed from inside marketmaker. Before I traded my CMC account I kept the Dow chart up on MM while trading with TradIndex, and the quotes seem fine. I very rarely catch the high or low of a movement - my appetite for risk demands some confirmation from the price movement.
I don't tend to rely on RSI too much, though it can be a useful confirmation of MACD, depending. I am getting to like the CCI at the moment though - I use 5 min bars of the last week, and look for the readings of CCI after extreme movements. This allowed me to tell that the uptrend wasn't going to continue right away, and greenlighted my short plan.
In saying that, I am going to go and stick your ema settings over the Dow just to see how much of a move on average is missed waiting for lagging confirmation. If it is less than I think it is, I may borrow that part of your strategy, since I don't like whipsaws and would like to reduce the risk on my entries.
All the best, speak tomorrow.
~LL
If you got your signal a little later, what data feed do you have? I am forced to use the CMC feed from inside marketmaker. Before I traded my CMC account I kept the Dow chart up on MM while trading with TradIndex, and the quotes seem fine. I very rarely catch the high or low of a movement - my appetite for risk demands some confirmation from the price movement.
I don't tend to rely on RSI too much, though it can be a useful confirmation of MACD, depending. I am getting to like the CCI at the moment though - I use 5 min bars of the last week, and look for the readings of CCI after extreme movements. This allowed me to tell that the uptrend wasn't going to continue right away, and greenlighted my short plan.
In saying that, I am going to go and stick your ema settings over the Dow just to see how much of a move on average is missed waiting for lagging confirmation. If it is less than I think it is, I may borrow that part of your strategy, since I don't like whipsaws and would like to reduce the risk on my entries.
All the best, speak tomorrow.
~LL
Pat494
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S&P 500 & EMINI (ESM7) June 07
OMNI RESISTANCE = 1511.00-1512.00 MIT
OMNI TURNS NEUTRAL IF ABOVE 1517.75
OMNI PROFIT OBJECTIVE = 1499.00 MIT
OR EXIT BY TODAY'S CLOSE
NOTE: SUPPORT IS EXPECTED AT THE 1503.00 LEVEL
Tut tut Oscar got it wrong again yesterday ( unlike this thread ) - maybe he should be watching us rather than vice versa :cheesy:
OMNI RESISTANCE = 1511.00-1512.00 MIT
OMNI TURNS NEUTRAL IF ABOVE 1517.75
OMNI PROFIT OBJECTIVE = 1499.00 MIT
OR EXIT BY TODAY'S CLOSE
NOTE: SUPPORT IS EXPECTED AT THE 1503.00 LEVEL
Tut tut Oscar got it wrong again yesterday ( unlike this thread ) - maybe he should be watching us rather than vice versa :cheesy:
