Dow 2007

lurkerlurker said:
Thanks for the advice. Fact is, the stop would have been set just below the main support, which wasn't actually broken. So perhaps I should stay in this trade. I don't see the market moving much further down from here - I have a stop in at 13265, and until that is hit I shall stay in. There is some minor news at 5pm, so I am a little worried here. I think I should keep my stop where it is, set my limit order at an achievable retracement, and walk away from the screens. I have other stuff I could be doing instead.
Click to expand...
Stopped out. -50 tics. A little slippage. Out of the market for today.
 
lurkerlurker said:
Stopped out. -50 tics. A little slippage. Out of the market for today.
Click to expand...

Hi everyone,

I've been very busy and have been in and out scalping the SPX. However, I closed my short position around 1.30pm today as my pips went down to +41 in a short while and as I was stepping out I thought bird in the hand is worth two in the bush. Looking at the stats now I feel closing my short at 1508 cost me +100 pips further potential gain. :confused:

Typical isn't it. Like busses you wait for one and half a dozen turns up but you don't get to ride in them all.

As for my friend Oscar he fell into the same trap we all do. Bit like football, you run down the pitch screaming your lungs out your friends holds the ball until you are off-side and then he decides to release it by passing it to you. Whistle goes and you have got a fat pain on your side.

Still musn't grumble as long as my P/L shows blue I'm ok.
 
Atilla said:
Hi everyone,

I've been very busy and have been in and out scalping the SPX. However, I closed my short position around 1.30pm today as my pips went down to +41 in a short while and as I was stepping out I thought bird in the hand is worth two in the bush. Looking at the stats now I feel closing my short at 1508 cost me +100 pips further potential gain. :confused:

Typical isn't it. Like busses you wait for one and half a dozen turns up but you don't get to ride in them all.

As for my friend Oscar he fell into the same trap we all do. Bit like football, you run down the pitch screaming your lungs out your friends holds the ball until you are off-side and then he decides to release it by passing it to you. Whistle goes and you have got a fat pain on your side.

Still musn't grumble as long as my P/L shows blue I'm ok.
Click to expand...

Don't grumble. I am in the red for today, you are not! I have the grumbling rights!

One heck of a bearish day, and I get caught long. Over a 100 pip drop. Nice to see some volatility back, but I had better keep my stake size properly small.

Lost £95 of the "free" £100 CMC gave me to play with when I opened my account with them the other week. Oh well, there will be other days, and other opportunities.

My mistake here was not defining a stop before putting on the trade. (funny, I know all this stuff, and can recognise mistakes in hindsight, but I continue to make them. Weird or what?

Where will the dow go next - we've not been this low for a week.
 
Evening all, not bothered today, looking at charts now, missed a fantastic opportunity, will have a look to see if I can get a position in befire the close
 
5, 10 & 15 min charts still trending down below my ema8, which will stop me taking a long position just now, 1 min chart, shows positive divergence MACD (weak), ema8 still below 21 day trend line, just sit a wait for me
 
Long DOW

13275 June Futures

Unless it moves up rather quickly I'm out though.

Edit: Okay out with small loss... one good (big) short and two small long losers... it was risky

Edit: next point looking to buy 13250
 
Last edited:
FW, absolutely right, my setup was not saying buy, but building that way, recent price action "forced my hand", 5, & 10 min charts now looking to support the move
 
Hope you all managed to catch some of that, closed long at 56 (cash) for + 30.
 
fwiw:- 1min PnF chart is neutral, sell at 225, stop 255

10 Min PnF, sell at 266. res 282
 
fw, well done, it was certainly there for the taking from 13259 & 13245 on my charts

Goodnight all, back tomorrow
 
Last edited:
lurkerlurker said:
Don't grumble. I am in the red for today, you are not! I have the grumbling rights!

One heck of a bearish day, and I get caught long. Over a 100 pip drop. Nice to see some volatility back, but I had better keep my stake size properly small.

Lost £95 of the "free" £100 CMC gave me to play with when I opened my account with them the other week. Oh well, there will be other days, and other opportunities.

My mistake here was not defining a stop before putting on the trade. (funny, I know all this stuff, and can recognise mistakes in hindsight, but I continue to make them. Weird or what?

Where will the dow go next - we've not been this low for a week.
Click to expand...

The DOW will surge up into May June according to most people. Seeing the continuous rise I think so too. No point in standing in front of a juggernaut. However, I am bearish but I'm not going to quote FA just TA. Trade the charts.

I've been short since yesterday evening based on hourly charts and BBs and SAR indicators. I've noticed on a number of occassions the DOW (& SPX) rises towards afternoon sessions, ends up high at the end of the day totally overbought. Comes down in the morning sessions and picks up again in the evenings. I mentioned this before and also traded these patterns before and recall claiming some nice pips in the past. Most people are creatures of habit.

I was expecting the same today in fact but went in the other direction instead. :rolleyes:

My life of leisure and lordship may be coming to an end as my Disaster Recovery work is picking up again. Hence, will not be able to participate in all these posts as much as before. I will try and play catch up in the evenings.

Good trading everyone.
 
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