As it happens, I didn't place the buy, patiently waiting for a better short entry, and still waiting!!!!!! I wan't to see this nearer to 80 before I short it. I do think that there is a sell-off on the cards however.
As it happens, I didn't place the buy, patiently waiting for a better short entry, and still waiting!!!!!! I wan't to see this nearer to 80 before I short it. I do think that there is a sell-off on the cards however.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Right, so I was down -18. 10 for the order execution error gives -28.
And I'm still short from 45, giving an open loss of -48. In a day. I'm not doing very well with this at all.
And I'm still short from 45, giving an open loss of -48. In a day. I'm not doing very well with this at all.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
I hope there is. I'm averaging down at 80. And if my account gets wiped out, I'm hanging this up.
I don't seem to be able to do this properly. I am getting pretty frustrated. I either take £5 out the market for 8 hours work, or get shafted to the tune of £20 a day.
I don't seem to be able to do this properly. I am getting pretty frustrated. I either take £5 out the market for 8 hours work, or get shafted to the tune of £20 a day.
Atilla
Legendary member
- Messages
- 20,851
- Likes
- 4,031
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Atilla, are you around? Still short? I'm just trying to calculate how much I'll get paid for holding this short overnight. (LIBOR - 3%)
To be fair, I got a signal to cover that short just before the recent high, then it broke that, then another high. I've really no business holding it. But, like so many bears here, I can see me holding this for as long as I can afford to.
To be fair, I got a signal to cover that short just before the recent high, then it broke that, then another high. I've really no business holding it. But, like so many bears here, I can see me holding this for as long as I can afford to.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Got stopped out.
That's it for today on the DOW.
Good trading everyone...
See my above post.
I'm still short from 45. I am thinking about holding it. Without a stop. Time for my first margin call?
In all seriousness, I'm going to average down at 80 should we get there, then turn everything off for the day. I cannot seem to get anything right.
Short 68, one off my favorite number, sorry Ladies, no offence!
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Tricks, have you seen the YM order book?
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Déjà vu
Big déjà vu feeling here... everybody trying to short while the odds for a sell-off are very small in this type of market... :|
Big déjà vu feeling here... everybody trying to short while the odds for a sell-off are very small in this type of market... :|
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Yes I have, two longs for +10 and one (admitted stupid) short for -5.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
I'm only short from 45. Breakeven is quite near. I'll cover if it takes out the high at 85.
Eeek. Just realised that would be a 40 pip loss. I cocked up the planning of this one good and proper, and then mistakenly sold more (I covered as soon as I realised my mistake, for -10). I'm only short £1pp from 45, but I'm feeling the pressure considering my miserable track record.
Eeek. Just realised that would be a 40 pip loss. I cocked up the planning of this one good and proper, and then mistakenly sold more (I covered as soon as I realised my mistake, for -10). I'm only short £1pp from 45, but I'm feeling the pressure considering my miserable track record.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
It gives me time to determine trend from the 2 15 min bars. Also, I don't like trading just at the open. What is an appropriate time to wait, in your opinion?
I really don't like being in this short. Part of me wants to cover just so I can view the market from a neutral point again.
Now, doesn't that tell a story!!!!!!!!!!
By the way, if you're looking at that, what does it tell you?
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
That I'm going to get shafted. What does it tell you?
(I don't usually include DOM in my strategy, so I'm not entering or exiting based on that).
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
It all depends on the signals you are waiting for. If you backtested your system and it works then I see no reason not to take the signal. The only reason for me not to enter a trade is when figures are economics news is imminent.
Somewhere along the way you said you were going to stop looking to short.
Today the DOW offered at least a dozen (on 1 or 2min chart) entries for 13535 cash or 13570 futures, which would've been excellent entries with close stops in case of a break.
Two of my longs were on that support level, my mistake today was that I missed the 3rd possibility while I was eating
Yes, I did say I wouldn't look to short earlier in the day. I've lost on long trades also. But yes, this all comes back to where I would be if I had taken the long at 35 and held it until now.
I'm not actually sure where I will cover this position. It is open purely out of indecision. I support since it is only 15 points away, I ought to stick a stop above the high at 70 and hope for the best.
If I trade tomorrow, I think I'll try and hold a position for a few hours when it is winning. That long would be looking rather nice now.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Covered by ****ing accident at 80. Not in the plan. -63.
Straw poll - should I hang this up? (no jokes about me paying you guys please)
EDIT - explanation - I had a open order box with it preset to cover. I hit execute instead of cancel.
Straw poll - should I hang this up? (no jokes about me paying you guys please)
EDIT - explanation - I had a open order box with it preset to cover. I hit execute instead of cancel.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
I've already exceeded my loss limit. I might as well continue to trade until the close. Looking for another entry. It feels so good to be flat.
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
Short 75 (DEMA crossover, CCI out of overbought, RSI out of overbought)
lurker,
think any feedback or comments from my end should be in your journal. I can only tell you one thing right now:
now you are in a trade. it is under water. you have a stop. when and if it is hit, go out for a walk. leave it alone. forget about it. dont trade again.
dont trade tomorrow. use the time to think.
all the best.
j
think any feedback or comments from my end should be in your journal. I can only tell you one thing right now:
now you are in a trade. it is under water. you have a stop. when and if it is hit, go out for a walk. leave it alone. forget about it. dont trade again.
dont trade tomorrow. use the time to think.
all the best.
j
lurkerlurker
Senior member
- Messages
- 2,482
- Likes
- 150
I've read your other few recent comments on the matter. I can't understand why I am doing these things. I went to great effort to formulate a plan, created a journal, read and understood all the advice which had been given here...
I am having difficulty understanding my own behavior.
I am in a trade at the moment, and exiting a position early due to overtrading wasn't in my plan either. I have a stop. If it is hit, that is me for the day. Good advice jacinto. Otherwise, I'll babysit this one until I greedily take a 2 pip profit so I can have one more mistake to add to my twenty odd for the day.
For those of you who are interested, I intend to post a full review of todays crappy performance, and what I can determine to be the reasons behind it, by around 10pm tonight. First, I will have this trade finished, and eat something. I've had no food all day either, which isn't helping my concentration.
I'm trading tomorrow on paper only. A break is in order. Something psychological is screwing with my performance, and I need to sort it out before I risk another penny.
Ironically, this trade seems to be the only one which may turn out okay (short 75).
Thanks for the advice again. Sorry about this.
