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trader_dante
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When I first went in at 11,155, I had a stop at 11,114 (41 ticks) which was the day low before the entry was triggered.
The remaining three times I bought it my stop was at 11,111 (44 ticks) which was again for the same reason as above.
The reason I wanted to be a buyer was because of the hammer on the hourly TF that occured close to the previous days lows and also at the bottom of a trend channel on the hourly and daily TF. (see chart)
I tried to run this as I thought it could possibly have good potential upside but the volatility caused me to take a few ticks on each trade despite seeing about 120 in profit over the four trades.
I missed the double bottom as I was at home. Very annoying as I would no doubt have taken it if I had been in the office!
I believed it was going to be an up day today.
I called the long from 11,155 with a stop at 11,072 (82 ticks) to my systems subscribers on Collective2.com and the trade is, currently, still in play and +80 ticks.
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Atilla
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I had one good run and death by a thousand cuts as they say. Getting stopped out many times. I think this market is moving sideways and will give way sooner or later. The pattern has been amazing.
I considered going short again before leaving work but didn't take it which I now regret.
I still hold the view market is more likely to rise than fall at the moment based on the weekly charts but looking at the smaller time frames I'd say after another bounce to 11400-500 we will soon test 10930s. (Perhaps my earlier target of 11600+ was a little premature.
Fibonelli, if you are out there, Mr Bernanke is
I'm looking for a target of 11400s tomorrow.
trader_dante
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That is true but they give you a daily loss limit which for us, in the beginning is £400 - £500.
I trade differently to the large majority of traders at my firm who are either scalpers or very short term traders.
spanish89
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Oooh that is just harsh, as stop was barely above the 5day low..
Would you ever have traded with a stop at around 11,075??
trader_dante
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Oooh that is just harsh, as stop was barely above the 5day low..
Would you ever have traded with a stop at around 11,075??
11,072 was where the "safe" stop was placed on the original call I made.
I traded it a little tighter at my prop firm.
trader_dante
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Can i ask what your capitalis in your account at your firm btw please mate??
We start with zero in our account but are given the margin to buy a certain number of lots in the market we trade and a daily stop loss of £400 - £500.
Lot sizes vary from market to market. FTSE trades initially have 6 lot limits (£60 per full tick)
I've got access to more markets than others because of the strategy I trade.
spanish89
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trader_dante
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Yes, that's exactly what I do.
spanish89
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trader_dante
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You have to be in for the 7am open...
dans_ya_man
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I too had a hard day yesterday but still managed a little profit.
I watched my first two longs go into profit, moved stop losses to b/e which both got hit
Third time lucky though, got in on the last low of the day (being the weekly low) at around 11085, was a bit premature pulling the trigger on this one as didnt want to see my profits disappear again, sold at 11175.:cheesy:
Theres lots of talk on bloomberg about this being a bottoming process:?:
Im not to sure and feel the longer this sideways movement goes on the more likely we will continue on the downside.
For now I will be trading the range, keeping s/l tight
I watched my first two longs go into profit, moved stop losses to b/e which both got hit
Third time lucky though, got in on the last low of the day (being the weekly low) at around 11085, was a bit premature pulling the trigger on this one as didnt want to see my profits disappear again, sold at 11175.:cheesy:
Theres lots of talk on bloomberg about this being a bottoming process:?:
Im not to sure and feel the longer this sideways movement goes on the more likely we will continue on the downside.
For now I will be trading the range, keeping s/l tight
Atilla
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Just gone long... Target 11400... Tight SL
Atilla
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Another loss another bleeding cut...
Best to sit and watch... Expecting a bounce still but when???
i should have added wednesday the 16 july as this is my first choice for a turn.
Fibonacci cycles, 16 of july is 144 days from the 18th Dec low and 89 days from the 10th of March low.
the 22 of Jan low to the 19 of May high is also a 50% time extension on the 18th of July.
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bottomleyp
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Dow
Long DOW, small position, no stop at the moment, must be close to Low.
Probably falling mainly to Oil price
Long DOW, small position, no stop at the moment, must be close to Low.
Probably falling mainly to Oil price
dans_ya_man
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Stop losses getting hit left right and centre today, just taken a long at 11020, s/l just under 11000
dans_ya_man
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Dam s/l hit again.
Should of kept my short going after initial break of range, price shot up after this though knocking my s/l out again, since then i have been bottom hunting.
Like Atilla said best sit this one out for a while I thinks
Should of kept my short going after initial break of range, price shot up after this though knocking my s/l out again, since then i have been bottom hunting.
Like Atilla said best sit this one out for a while I thinks
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