Dow 2008

[firewalker99]

I tried full time trading last year around March / April time but couldn't manage to get consistent returns. So I started contracting again in June. However, since last August results, stats and expectancy ratios very good. Since January this year, exceedingly good. Seriously would consider having another go now that my system is bringing in the lolly.

That's an interesting observation Atilla, you should give it some deeper thought. Have you tried comparing your results to the patterns the market presented during each time period? For example, in March we needed consolidation to continue the bull market after a (presumabley) second correction took place near the end of February.

It was very different from April, which was very much a one way market until around June. Considering your tendeny towards shorts, it shouldn't be surprising you didn't manage to get a lot of profits there. In July we started going sideways and in August - as in November - the volatility expanded greatly which could also be a factor as to why your average profits might be larger in absolute value, but not in relative terms.

As for "since January"... well that's pretty self-explanatory really, just look at the chart. It must be all you've ever dreamt of

 

[firewalker99]

see chart..do we get a move to 12550 then a fall to break this weeks lows? OR if that was the bottom...then..new highs or at least a test of the highs in the making...

I'll eat my shoes if we get new highs in the next couple of months.
And I'll put a video of it on Youtube.

 

[DDI]

If you are a believer in candlestick theory then we had two hammers (maybe impeerfect ones) in last 2 trading days. so a possible reversal?

 

[Devilicus]

Im trying a short here on the dow cash at 12261

Clsing half of this trade from last night here at 12186 for 75 points profit.

Letting other half run with stop at BE

 

[firewalker99]

Clsing half of this trade from last night here at 12186 for 75 points profit.

Letting other half run with stop at BE

Excellent short (from a technical point of view). I'm totally with you on that one, but have my target around 12100... remains to be seen if we get there.

 

[firewalker99]

If you are a believer in candlestick theory then we had two hammers (maybe impeerfect ones) in last 2 trading days. so a possible reversal?

Idd, a temporary one... most likely.

 

[jonnyy40]

They reassured about the insurers so they have their eye on the ball.As long as that worry is jumped on quickly there won't be a panic at least. (For fun I'll say it will go to 12800 from here but I don't trade like that).

 

[Atilla]

That's an interesting observation Atilla, you should give it some deeper thought. Have you tried comparing your results to the patterns the market presented during each time period? For example, in March we needed consolidation to continue the bull market after a (presumabley) second correction took place near the end of February.

It was very different from April, which was very much a one way market until around June. Considering your tendeny towards shorts, it shouldn't be surprising you didn't manage to get a lot of profits there. In July we started going sideways and in August - as in November - the volatility expanded greatly which could also be a factor as to why your average profits might be larger in absolute value, but not in relative terms.

As for "since January"... well that's pretty self-explanatory really, just look at the chart. It must be all you've ever dreamt of

You are absolutely right Firewalker. I think based on fundamentals I have been short. I have managed to shake the FA stance quite a bit and have noticed I do much better in down trends than long ones. I am now far more aware of market moves, technical analysis and my psychie than I ever was before...

I'm continuing in the same pattern now having identified what works for me.

I'm not working today taking a rest day and so hope to trade a little more actively today.

Currently bullish. Expecting rises across the board.

Long on DAX, Short on FTSE (pair trade) and flat on DOW for the time being.

 

[dc2000]

I'll eat my shoes if we get new highs in the next couple of months.
And I'll put a video of it on Youtube.

can you just confirm new highs for year? or new highs since start of downtrend ?

 

[dc2000]

this sideways action means one thing we are gearing for a monster move if I wasnt already in long FTSE short Dow I would be looking to fade the first spike on Dow possibly with a limit order as this will be fast, 2fast 2furious 2fast for y'all

 

[dc2000]

just doing some calcs this morning 11186 still the same given the slight gap in futures the next target after that is 13502 and thats not a long term target, its based on march futures expiry max
So youtube could get interesting

 

[Paul71]

Im trying a short here on the dow cash at 12261 - Got a stop in at 12350

I agree with FWs comment. I thought this trade was absolute value for money, Dow at the top of it's bearish channel, it had sell written all over it. Good trade Devicus.

 

[firewalker99]

can you just confirm new highs for year? or new highs since start of downtrend ?

I mean new highs in higher than the all-time high of the DOW (around 14200-ish).

 

[Atilla]

just doing some calcs this morning 11186 still the same given the slight gap in futures the next target after that is 13502 and thats not a long term target, its based on march futures expiry max
So youtube could get interesting

Bullish view confirmed for me. Reversed pos and now long on FTSE and DOW.

Expecting further rises. Don't know about the magnitude of these rises though. I'll be sticking with my moving average directions.

 

[firewalker99]

Excellent short (from a technical point of view). I'm totally with you on that one, but have my target around 12100... remains to be seen if we get there.

Looks like it was only good for a nice +100 points. Back at the entry point now. A clear break above 12350 futures would make me consider longs. But until that happens back to 12100 futures seems likely.

 

[firewalker99]

just doing some calcs this morning 11186 still the same given the slight gap in futures the next target after that is 13502 and thats not a long term target, its based on march futures expiry max
So youtube could get interesting

Depends... will yoù eat yoùrs if it doesn't go to 13502 before the March expiry?

 

[dc2000]

now out of FTSE long @875

will only short at 918

 

[Devilicus]

Looks like it was only good for a nice +100 points. Back at the entry point now. A clear break above 12350 futures would make me consider longs. But until that happens back to 12100 futures seems likely.

Yep. Looks like I closed out the first half at a fairly decent point. Other half has since obviously been stopped out at BE. Cant complain. Onto the next set-up. Good luck

 

[jonnyy40]

Was anyone here trading in the last Bear Market?Looking at the charts you can see the range was great but you must have made some serious easy money?

 

[firewalker99]

Yep. Looks like I closed out the first half at a fairly decent point. Other half has since obviously been stopped out at BE. Cant complain. Onto the next set-up. Good luck

Likewise here Devilicus, my other half stopped out too.
Thanks and good luck to you too today.