Dow 2007

[Dinos]

Just got this text, love it, brought a smile, so I post this and leave you all until tomorrow

A man brings home a deer for tea and decides not to tell his children, what it is. He starts a game to let the kids guess what it is, "Its what mummy calls daddy sometimes" he said, his litlle daughter, yelled out "don't eat it, its a f**king A**ehole" she replied.

Goodnight all

 

[Atilla]

Not checked the charts since I stopped trading a few hours ago, so a little out of touch. My review will be on my journal, not here, so I'll stay on topic.

Atilla - your remarks are comforting. If you even have a monthly allocation, that convinces me that you aren't going anywhere fast. It can be difficult to determine another person's experience on these boards. I've just notice you mention getting badly burned (while short) quite a few times since I started posting. But I'm sure you'll live to fight another day.

Since I'm not holding overnights, I can honestly say I wish for the Dow to drop 500 points tomorrow, just to ease the pressure on you and other pained shorts.

You're right, fundamentally. But there is no right and wrong, only price.

bottomleyp - I hope what I've just said to Atilla (that I'm confident he has the experience and risk management to remain in the game) can be equally applied to you. Good luck!

Dinos - sorry to hear you are having a bad day, but I am sure you have spent less time letting it worry you than I have taken to type this sentence! I'm sure you'll capitalise on the opportunities the market presents tomorrow.

Does anyone get a small rush from the freedom that trading brings? I'm only up +3 pips today, but they are MY profits and the losses are MINE. My success or failure is not determined externally, but lies entirely with me and the decisions I make. That's a nice feeling, and I think it can be good to own that every so often.

Best of luck to those with open positions - I'm off to write my journal, and will be back here tomorrow.

LL,

It's all about money and risk management. The money I lost in the first year was the worst. Second year not as bad but losing money is always bad. Third year I took some time out traded with less frequency. Read a lot did paper trading at times.

This year compartively speaking is my best year yet. Sometimes you win sometimes you lose. Average Win/Loss ratios hovering around 43-53 / 57-47 % on a monthly basis. Also, learning to cut losses sooner. This current one is a bad move but I'm sticking to it based on weekly plan. Number of trades per month various between 50 - 70.

A little like Firewall says sometimes letting losses run out does many small wins.

However, I'm now running this like a business. I can see the improvement in the stats. Just need to stick with it and sharpen my phsychology and discline coupled with the ideal system.

So far my favourite system is still BB breakouts with MA + MACD, RSI & Stochastics. I've been experimenting with different time charts but that's got me into trouble.

What I have noticed is on the Indeces & Gold I'm better at long term charts. On FX and Oil short term charts. Trying to bring them together with all different probabilities is the trick.

I've scalped oil really well in particular in high volatility markets. Had a good run on gold too. FX and Indeces record is patchy.

All in all I'm satisfied with my progress and development. I can relate to some of the losing experiences shared and at the same time feel there are lots of mentors, genuinely egging and inspiring us slower traders all to succeed. Really heart warming.

I've heard it can take any where from couple of years to 7 or more. I'll plod on. My family comes first and I'm not risking a great deal. The IT freelance consultancy pays well enough. I have the Mrs blessing so life is cool. She's the Financial Director but I think I'll leave that out...

Nice to see DOW coming back down again. -70 ish.

On my hourly chart it's usually been picking up support on MA34. If it breaches it be a good sign for tomorrow.

Good luck everyone.

 

[lurkerlurker]

LL,

It's all about money and risk management. The money I lost in the first year was the worst. Second year not as bad but losing money is always bad. Third year I took some time out traded with less frequency. Read a lot did paper trading at times.

This year compartively speaking is my best year yet. Sometimes you win sometimes you lose. Average Win/Loss ratios hovering around 43-53 / 57-47 % on a monthly basis. Also, learning to cut losses sooner. This current one is a bad move but I'm sticking to it based on weekly plan. Number of trades per month various between 50 - 70.

A little like Firewall says sometimes letting losses run out does many small wins.

However, I'm now running this like a business. I can see the improvement in the stats. Just need to stick with it and sharpen my phsychology and discline coupled with the ideal system.

So far my favourite system is still BB breakouts with MA + MACD, RSI & Stochastics. I've been experimenting with different time charts but that's got me into trouble.

What I have noticed is on the Indeces & Gold I'm better at long term charts. On FX and Oil short term charts. Trying to bring them together with all different probabilities is the trick.

I've scalped oil really well in particular in high volatility markets. Had a good run on gold too. FX and Indeces record is patchy.

I'd like to trade FX, particularly cable when I improve. I think the Dow is just above volatile enough for me right now. I also think that FX is moved more by news, fundamentals, and insiders compared to equities and indices. As far as I am concerned, the house has a larger edge in commodities and oil, so I am staying away until I can develop a sufficient edge to make it worthwhile. For now, its indices - Dow and FTSE mostly, although I'd happily ditch the FTSE for the Dax when I understand more about the German market. I'd still take a few swing positions on equities if the right setup came along, but I try to avoid them and I feel they take up too much margin while index trading (not so much of an issue now I've capped my size).

All in all I'm satisfied with my progress and development. I can relate to some of the losing experiences shared and at the same time feel there are lots of mentors, genuinely egging and inspiring us slower traders all to succeed. Really heart warming.

That puts it best of all. I feel the same way. I have received so much encouragement from experienced traders on these boards - especially at a time where my confidence was faltering regarding my trading. Also, I feel that participating in these boards creates an expectation of accountability which is beneficial when planning and executing.

I've heard it can take any where from couple of years to 7 or more. I'll plod on. My family comes first and I'm not risking a great deal. The IT freelance consultancy pays well enough. I have the Mrs blessing so life is cool. She's the Financial Director but I think I'll leave that out...

Seems to be a good position to approach trading from, combined with an equally good attitude. I'm sure many on these boards would give their left nut for the Mrs to stop nagging them about their "gambling" - you are a lucky chap indeed!

I'm off to read more Mark Douglas, and then hit the hay.

Just got this text, love it, brought a smile, so I post this and leave you all until tomorrow

A man brings home a deer for tea and decides not to tell his children, what it is. He starts a game to let the kids guess what it is, "Its what mummy calls daddy sometimes" he said, his litlle daughter, yelled out "don't eat it, its a f**king A**ehole" she replied.

Goodnight all

That was absolutely side splitting.

 

[firewalker99]

well done, question is, where will your exit be.

I moved my stop to BE now. will use a different approach this time. will take a 50% out for +23 at 83 cash if and when that happens, and trail the rest or exit at market when I get a price dictated exit

good luck.

j

Irrelevant post now that I am stopped out. sorry.

A good exit would've been when price hit the supply line. I know, easy for me to say, I wasn't around to trade the last hours of the sesssion... unfortunate really, because I definitely would have taken a short at 13550 (see chart)

 

[Atilla]

I'm sure many on these boards would give their left nut for the Mrs to stop nagging them about their "gambling" - you are a lucky chap indeed!

I object to the gambling bit.

I used to trade shares. Now I moved on to SB. Although betting sounds like gambling my approach is a combination of technical and fundamental analysis. Not heads or tails.

I've had this discussion many a time so please no lectures.

Just my approach that I consider it a business not a gamble.

If you consider it a gamble then that's fine with me.

Might be worth having a poll on this one. How do we setup polls? Never done that before.

 

[firewalker99]

I object to the gambling bit.

I used to trade shares. Now I moved on to SB. Although betting sounds like gambling my approach is a combination of technical and fundamental analysis. Not heads or tails.

I've had this discussion many a time so please no lectures.

Just my approach that I consider it a business not a gamble.

If you consider it a gamble then that's fine with me.

Might be worth having a poll on this one. How do we setup polls? Never done that before.

you need to ask one of the admins
you can't do it for yourself (or it least not last time I checked)

anyway about the gambling/trading part... I believe there's another thread better suited for this discussion:
http://www.trade2win.com/boards/showthread.php?t=24211

 

[Atilla]

you need to ask one of the admins
you can't do it for yourself (or it least not last time I checked)

anyway about the gambling/trading part... I believe there's another thread better suited for this discussion:
http://www.trade2win.com/boards/showthread.php?t=24211

Thanks firewalker,

I've already had the third degree umpteen times I was only making a point. Really don't want to go into it in a big way.

I think I may have referred to you as firewall earlier on sorry about that. That's what IT does for you.

I'll post admin now to set one up on your highlighted thread.

Regards,

 

[frugi]

Atilla if one starts a new thread there's a 'post a poll' checkbox at the bottom. But adding one to an existing thread is, I think, not possible except for admins. Please be aware they send all poll results straight to the New World Order HQ.

 

[Atilla]

Atilla if one starts a new thread there's a 'post a poll' checkbox at the bottom. But adding one to an existing thread is, I think, not possible except for admins. Please be aware they send all poll results straight to the New World Order HQ.

Thanks frugi I may just choose to open a new thread question.

As for the NWO it's like fashion everybody is talking about it.

One other question. What does the NWO think about DOWs direction and how much would they charge to help it down somewhat for us bears? :cheesy:

 

[lurkerlurker]

I object to the gambling bit.

I used to trade shares. Now I moved on to SB. Although betting sounds like gambling my approach is a combination of technical and fundamental analysis. Not heads or tails.

I've had this discussion many a time so please no lectures.

Just my approach that I consider it a business not a gamble.

If you consider it a gamble then that's fine with me.

Might be worth having a poll on this one. How do we setup polls? Never done that before.

No no no. The "gambling" was enclosed in "sneer quotes". I was stating that many people are probably nagged by the Mrs about what she considers "just gambling".

I do not consider it gambling for one minute!

 

[lurkerlurker]

It is only gambling to the extent that a financial wager is made on an unknown outcome. The similarity ends there. I was commenting that many people, especially wives, do not take trading seriously and see it as gambling.

Hope this clears things up.

Back ontopic -where is the DJIA going today? It closed around 13460, so I am looking for a support test at 13440 in the first hour.

Expecting a selloff into EOD/EOW, but could be quite bullish before that, possibly testing new highs in the early evening.

I'm on the sidelines for the first 15 mins. Thoughts?

 

[firewalker99]

It is only gambling to the extent that a financial wager is made on an unknown outcome. The similarity ends there. I was commenting that many people, especially wives, do not take trading seriously and see it as gambling.

Hope this clears things up.

Back ontopic -where is the DJIA going today? It closed around 13460, so I am looking for a support test at 13440 in the first hour.

Expecting a selloff into EOD/EOW, but could be quite bullish before that, possibly testing new highs in the early evening.

I'm on the sidelines for the first 15 mins. Thoughts?

I won't be around today, but I hope you guys all have a good day!
I'll read up on the forum over the weekend.

My analysis: longs, longs and more longs... European markets all higher, and DAX broke resistance, so expecting this to end near the highs. Consumer sentiment could spoil things though...

 

[lurkerlurker]

I won't be around today, but I hope you guys all have a good day!
I'll read up on the forum over the weekend.

My analysis: longs, longs and more longs... European markets all higher, and DAX broke resistance, so expecting this to end near the highs. Consumer sentiment could spoil things though...

I agree. Will be looking for pullbacks, and will trade in the direction of the Trend.

 

[Atilla]

It is only gambling to the extent that a financial wager is made on an unknown outcome. The similarity ends there. I was commenting that many people, especially wives, do not take trading seriously and see it as gambling.

Hope this clears things up.

Back ontopic -where is the DJIA going today? It closed around 13460, so I am looking for a support test at 13440 in the first hour.

Expecting a selloff into EOD/EOW, but could be quite bullish before that, possibly testing new highs in the early evening.

I'm on the sidelines for the first 15 mins. Thoughts?

Hi LL,

Don't worry no offence taken just thought I quote my perspective.

Still short and still losing -108 on the DOW so far. But I'm going to see this through to the end.

Made some on USDYEN fall this morning up on the day so far. Just looking to have a nice cup of tea in the sunhine and I'll come back to have another look around 3ish.

 

[lurkerlurker]

Hi LL,

Don't worry no offence taken just thought I quote my perspective.

Still short and still losing -108 on the DOW so far. But I'm going to see this through to the end.

Made some on USDYEN fall this morning up on the day so far. Just looking to have a nice cup of tea in the sunhine and I'll come back to have another look around 3ish.

I'm considering finishing up early and having a cold Hoegaarden on my balcony. Made +3 on the FTSE earlier, stuff seems quite slow today.

 

[jacinto]

afternoon all

I will be away until about 5. Im looking for heavy shorts today.

good trading

j

edit: leaving order for short at 545 and looking for decent profit taking today. catch u later

 

[lurkerlurker]

afternoon all

I will be away until about 5. Im looking for heavy shorts today.

good trading

j

EOW sell-offs aren't uncommon in a bull market. Make sure you have confirmation first of course. I'm going to do a session until eight I think.

 

[lurkerlurker]

I can't actually trade until around 3. Most of my indicators work off 20 periods or longer, in which case the out of hours trading SB price will skew the figures. Seems to be a strong up at the moment, am looking for a short opportunity (or failing that, a pullback for long entry).

Good luck all.

I'm trying to trade the trend today, so won't be short biased until much later in the day.

 

[lurkerlurker]

Short 512. Stop 524. Target 490.

Stopped out -12

 

[lurkerlurker]

Long 19.