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
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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
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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
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lurkerlurker
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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
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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
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Tricks, have you seen the YM order book?
firewalker99
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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
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Yes I have, two longs for +10 and one (admitted stupid) short for -5.
lurkerlurker
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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
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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
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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
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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
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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
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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
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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
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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.
