Dow 2007

firewalker99 said:
may I ask why did you close out your position?
was your stop hit?
Click to expand...

Downside break of a fairly solid looking triangle. Covered in a bit of panic, but wasn't prepared to hold it below that trendline. I come back 10 mins later, and it's up again.

I hate these trading ranges. I'm not going in again until it trends.
 
I'm not adverse to chopping one off, but normally when I do it has to be be a prettier than this! :cheesy:
 
lurkerlurker said:
Downside break of a fairly solid looking triangle. Covered in a bit of panic, but wasn't prepared to hold it below that trendline. I come back 10 mins later, and it's up again.

I hate these trading ranges. I'm not going in again until it trends.
Click to expand...

I don't see any notice of "triangles", "trendlines" or "trading ranges" in your plan though?
 
Of course, back before this indicator rubbish I loved days like this.

I remember back when I traded with price, volume, and chart patterns, On a particularly choppy day, I once took £195 out of the Dow in an hour, trading no more than £5pp. Of course, I thought I knew everything then! Stop and reverse at key S/R levels.
 
firewalker99 said:
I don't see any notice of "triangles", "trendlines" or "trading ranges" in your plan though?
Click to expand...

:eek: Duly noted. There aren't. The exit was Wrong. I'll make a note of that. Not trading at the moment until ADX > 20. Even though that's not in the plan, can I just decide to stay out at a time when I can't call direction? Or am I a slave to my signals?

Congratulations on the longs.
 
lurkerlurker said:
:eek: Duly noted. There aren't. The exit was Wrong. I'll make a note of that. Not trading at the moment until ADX > 20. Even though that's not in the plan, can I just decide to stay out at a time when I can't call direction? Or am I a slave to my signals?

Congratulations on the longs.
Click to expand...

Not if you have a certain discretionary factor calculated in that leaves room for personal interpretation... but each personal interpretation made on the spot will be made on an emotional bias the moment you step in the trade.

You yourself should not be calling direction, the plan should work out that for itself. So yes, you are a slave to your signals :)
 
Covered flat on attempted upside breakout. It failed, but we are too close to resistance to take chances. And no, firewalker, it honestly had nothing to do with your bullish sentiment. I felt at that time the possibilities of the trade were greatly diminished.

Watching it fall to 40, I'll admit it was a panic exit.
 
Atilla said:
Short @ 13544. SL @ 12569

Target 13510 regions.
Click to expand...

I've just covered a short flat (at a higher price than yours). I'd agree now with fw about the longs - don't change your trade based on comments here, but consider why you are short. I think its a little dangerous. Also, your target is a few supports away.

Also, 25/35 isn't very favourable risk / reward. How has your trading been on other instruments recently?
 
brutusdog said:
very sound plan f.w.
Click to expand...

thanks, although haven't been setting good example really today
best thing to do was held on to my earlier long and take +15 on first half and move stop to BE, I'd still be in and holding and would've saved me the commissions.
 
Holding a long at this price, through a 20 point retracement!?

(needless to say I am beating myself up for not holding that short)
 
lurkerlurker said:
Don't say that - I just went short.
Click to expand...

Brave man ll, this has been trading in a tight (30 point range) since 6.00 AM, and what about your previous post 1861, waiting until it starts to trend). I'm no expert, believe me, but I would have thought this was best left alone right now? No offence intended!

cheers - Tricks

P.S. Having said that, it has now dropped 20 points, but still within that range!!!!!

P P.S. Was that MACD divergence on the 15 min?
 
tricks said:
Brave man ll,

Not really - lost confidence in it 5 mins later, covered flat.

this has been trading in a tight (30 point range) since 6.00 AM, and what about your previous post 1861, waiting until it starts to trend). I'm no expert, believe me, but I would have thought this was best left alone right now? No offence intended!

cheers - Tricks

P.S. Having said that, it has now dropped 20 points, but still within that range!!!!!

I know - I covered flat before it though

P P.S. Was that MACD divergence on the 15 min?
Click to expand...

IIRC yes
 
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