Dow Intraday charts 07/Feb - 11/Feb

[ChartMan]

3rd peak of a bear flag, 3rd low at 805.2 peak div. getting scary...

 

[ChartMan]

Target 30 ish...

 

[tradesmart]

Lookin’ quite bullish for a bear flag then……?......

See the depth of the current consolidation? – about 45 points…..

Add that to the top price today, 10835, and what do you get…….?

10880………!

(Lucky I had my calculator handy…… )

 

[ChartMan]

Arhhhhh plop...

 

[tradesmart]

Arhhhhh plop...

Well, it's never a one-way ticket.....!.

790 here we come.....

10880………!

I didn't mean to imply today.....!

 

[ChartMan]

nah we're on the third cycle of a bull flag with a higher last low But only 3 mins to go....

 

[tradesmart]

Oh well, looks like my Dow Comp entry has missed by a mere couple of points....

You have to get used to these little disappointments in trading.....!......

 

[ChartMan]

Good call though, TS
Onwards and upwards with a nice 100 break...Nice expanding triangle B/O.

 

[ChartMan]

The hundred was easy, but I should have left well alone, looking for that final push to retest the highs.

 

[sall]

All, Guys I enjoyed the commentry on this board as the dow was being traded, doesn't happen too often but it was a good learning experience. I would just like to say Thanks for our inputs while you were trading.

Thanks

 

[ChartMan]

I wish I could do it more.... Maybe when I've finished my current Flat conversion and the cash is in the bank, 'Er indoors may let me have a sub......

 

[Pat494]

CM
Ever thought of starting your own hedge fund ? Seriously - a lot of bods on this website would be interested.

 

[wellshot]

price action

hi just my musings

 

[ChartMan]

Pat.... if I knew what a hedge fund was, maybe I might Probably not appropriate as I only trade once in a blue moon....

 

[wellshot]

THats me done

more gaps, waves etc for friday afternoon

 

[Bigbusiness]

I enjoyed watching the online videos about the ACD method by Mark Fisher. He is a bit loud and American but he knows his stuff. http://www.trade2win.com/boards/showthread.php?t=12695

I noticed he is in the list of 100 top traders, earning $10-15 million a year. I spent some time last week looking at how the ACD method would work on the mini dow (YM) and I think it is a good method to use when there is a low risk trade setup.

 

[TGM]

I enjoyed watching the online videos about the ACD method by Mark Fisher. He is a bit loud and American but he knows his stuff. http://www.trade2win.com/boards/showthread.php?t=12695

I noticed he is in the list of 100 top traders, earning $10-15 million a year. I spent some time last week looking at how the ACD method would work on the mini dow (YM) and I think it is a good method to use when there is a low risk trade setup.

Fisher is a class act. He is loud and obnoxious like all other NYC oil traders. But a good guy. He is an AMAZING floor trader. Maybe one of the best in the history of the business. I have been in his office at MBF in Nymex. We have a mutual friend. If you are ever in New York. Go to one of his free seminars at Nymex.

Many of the NY floor traders use the ACD method on the floor and he has upstairs traders using it as well. FWIW, it is an approach that has been duplicated by several floor traders. I do not personally know anyone who trades the method in a computer. Although, there are some in his office.

I have been using the same aproach for too long to use another and I am not a floor trader. :cheesy:

 

[Pat494]

CM
I guess you are right ( perhaps being a bit modest ?). Anyway for any tigers out there wanting to play with other people's money they could have a look at hedgeweek.com for instant offices, advice etc.

 

[TraderTony]

9:59 1) S 10728. It is moving down but force lacking. Stops quickly to b/e. Sharp pullback. And down again. But could be reversing at 710 level. Yep - back it comes.
10:28 EXIT: B/e. Here we go again.
[Alternative hypothetical exits: Trailing stop = +10. Target at +6 hit, +12 hit, (average +6 from 3).]

11:04 2) L 10746. And strsight up. Nice. Stops to b/e.
11:13 EXIT: +30. At last. Sweet!
[Alternative hypothetical exits: Trailing stop = +30. Target at +6 hit, +12 hit, +30 hit (average +15 from 3).]

11:26 3) L 10792. This is where I get nervous - high, just below 800 level. But it is trending hard so I'm back in. Stops to b/e. Wow.
11:29 EXIT: +30. Unreal.
[Alternative hypothetical exits: Trailing stop = +30. Target at +6 hit, +12 hit, +30 hit (average +15 from 3).]

Ok - I probably should do this but I'm away this evening for a week so will cash in there and call it quits.

+60 from 3
+57 for the day after comms.
+144 for February so far after comms. (9 trading days)

Hypothetical alternative exits:
Using +6/+12/+30 targets = +36 average
Using swing high/low trailing stop = +70

Turned out to be a good decision!

 

[ChartMan]

Nearly back to 15 per day.... WD