Dow - Which Way?

[Chocolate]

The links at livechart don't seem to work for me, but maybe that's just me. Thanks for the cbot Education link - there's way too much stuff there, really too much to have time to have a look at it properly. About trin, there seems to be no relation between trin's open and previous days close so the fact that it's bearish Friday afternoon doesn't really have much bearing on what will happen Monday (I don't think) - you'll have to watch it Monday morning, but personally this is the first I've heard of it so I'm not the best to comment.

But tricks, all the best...£20 is way too big to even contemplate for me - I was really annoyed when Finspreads stopped allowing their 1p min. stake; my only chance at that kind of magnitude would be if someone gave me a free bet (I wish). I know you know, but I think the key is 1) any individual loss should be a small percentage of the account, and 2) you have to try to concentrate on keeping the average profit > average loss, ideally more frequent as well and ideally much bigger, but these are just ideally and less important.

 

[Bid A-Tool]

Don't forget everyone that the last trade is on HOLD as announced in my previous post. Next few days should give us a clearer indication. SEE POST 1.

Bid A-Tool

 

[LongandWrong]

This thread appears to be taking on a bit of a schizophrenic feel....

Roses are red,
Violets are blue,
I'm long the Dow from 3 days ago,
And so am I.

Wahoo!

Everyone has won, and all must have prizes.

We would therefore suggest that one consider, as we do, being somewhat liberal with the stop loss activation point or trailing point. We are not saying that Stop-Loss orders do not have their place and function, however, great care should be exercised when used as sometimes they can work against the Investor.

Who are we, btw?

 

[tricks]

tricks,

What timeframe are you using?

SpeedScalper

Hi speed,

By the way, I love the 'nickname', it conjures up the essence of daytrading. I use 1 min, 5 min, 15 min MA charts for daytrading, (along with the usual macd/rsi etc.) and then get myself terribly confused trying to work out the direction! I guess that's we all do, ha ha.

cheers - tricks

 

[tricks]

This thread appears to be taking on a bit of a schizophrenic feel....

Roses are red,
Violets are blue,
I'm long the Dow from 3 days ago,
And so am I.

Wahoo!

Everyone has won, and all must have prizes.




Who are we, btw?

Hey LW,

I noticed that 'we' myself and also thought the same. Is this a Freudian slip or is BT 'Royalty'? One must have a sense of humour after all, to even be posting on this board, or even to be trading at all!

cheers- tricks

 

[kewbridge]

Tricks:
You're short the Dow at 11312 'June' contract at £20 a point? Hmm, well, depending on how deep your pockets are, we should hit that again in a few weeks time, but we could add a couple of hundred points in the meantime. We've all done it so don't beat yourself up about it! What is it they say? First you lose your money, then you learn how not to lose your money and then you learn how to make money!

As for time frames, for day trading I use 20, 50, 100 and 200 SMAs on a 1 min chart, with MA envelopes set at 51/.50. I also have longer positions running, sometimes for several weeks/months, using purely the 200SMA on a 10 min chart with MACD 45/144/45 for confirmation. That one is deceptively lucrative, backtest it and you'll see what I mean. Great for lazy traders!

I also sometimes use Fibs for projections.

I tend to daytrade no more than 20% of my capital. If a real nobrainer occurs I have been known to trade up to 60% for a VERY short time, I mean a matter of minutes and then I scale in and out with the TRIN. But as that can get a bit sweaty , it's purely reserved for extreme volatility when it can make my weekly target in 20 minutes.

 

[SpeedScalper]

Hi speed,

By the way, I love the 'nickname', it conjures up the essence of daytrading. I use 1 min, 5 min, 15 min MA charts for daytrading, (along with the usual macd/rsi etc.) and then get myself terribly confused trying to work out the direction! I guess that's we all do, ha ha.

cheers - tricks

tricks,

My "nickname" in another forum is "VSTscalper". My business name is "ViperSpeed Trader".

Viper...."fast like a Viper sports car or strike quick like a Viper snake"
Speed...."fast"
Trader...."what I have been doing for almost 10 years now"

Just trading....traveling....and living life to its fullest.

I use Tick charts....usually 20 to 610 ticks....depending on the speed of the market. I used minute type charts years ago....but switched over to Tick charts because of the ability to trade fast or slow markets. I don't have any Indicators overlayed on my Candlesticks....just one indicator at the bottom. When I travel....I take my Laptop....go to a Starbucks....and trade....without any charts. I use the Accumulated Volume of the Depth of Market to Scalp.

SpeedScalper

 

[Lightning McQueen]

don:
Thanx! It's not that I don't want to post but I find that merely lurking is less of a distraction when day trading in choppy seas! Whenever I get into a convo on a board I tend to lose the plot on the trading front. But I pass by several times a day and I do enjoy the posts here. There's lots of useful stuff. I just find Tool's posts - er, odd? For someone who's developed a winning 'system' he does seem to have strange gaps in his grasp of market behaviour.

Hi kew
sorry I didnt reply earlier Ive only just spotted your addition.
apologies if i appeared pushy I saw you lurking and wanted you to elaborate more on your previous posts as I have an interest in that area of tick tiki and trin as you could see a lot of others were very interested too. I believe you could be of benefit to intraday entry strategies on our respective long term swing strats and that goes for other daytraders too, my strat needs more ideas for entry and exits.

Cheers

Don

 

[dick_dastardly]

We would therefore suggest that one consider, as we do, being somewhat liberal with the stop loss activation point or trailing point. We are not saying that Stop-Loss orders do not have their place and function, however, great care should be exercised when used as sometimes they can work against the Investor.

This thread appears to be taking on a bit of a schizophrenic feel....

Roses are red,
Violets are blue,
I'm long the Dow from 3 days ago,
And so am I.

Wahoo!

Everyone has won, and all must have prizes.




Who are we, btw?

I think it's just a piece of text he cut and pasted from some web site he visited.

dd

 

[Bid A-Tool]

ALERT. STAND BY: POSSIBLE SELL ORDER TONIGHT (GO SHORT). IF THE SIGNAL STAYS THE SAME I WILL CALL THE SIGNAL AFTER THE DOW's CLOSE.

Please use the simulator to test the signal.

NO responsibility will be accepted if you use real money.

 

[JFK]

Hi Bid,
By the dates you have mentioned so far, I think with a bit more back testing you might see a more accurately position for your stops?
p.s. I think you had a typo on 145?

 

[Chocolate]

That's interesting because I'm kind-of bullish right now (though my money isn't on the table). You'll have to declare where your stop is too.

 

[Bid A-Tool]

That's interesting because I'm kind-of bullish right now (though my money isn't on the table). You'll have to declare where your stop is too.

Don't worry, I will. I am thinking of a maximum Stop Loss of 75 points. This will be moved closer to entry point as the trade goes in our favour thus cutting down on the risk.

Bid A-Tool

 

[rols]

Please be kind everyone.....

O.K. Traders. Do you like a challenge?

This system will teach you discipline and unemotional trading.
PLAN THE TRADE. TRADE THE PLAN.

I have seen more traders loose money through the bad placing of "Stop Loss" orders.

You can't deny it wouldn't work mathematically. How do you think the big boys do it? To illustrate: Take the S&P 500. It stands at 1,309.99. The doubling up process is best used for going Long on contracts (Why?...because what is the most the S&P 500 can rise........No Limit. What is the most it can fall?........to "0".

Say you decided to go Long on the S&P 500 and your strategy was to double up on contracts every 100 point fall (strict adherence). Is it not so you would make a profit some where along the bounces back up again? Mathematically it's sound......but I agree if you used this strategy above you would need "Deep pockets". You would have to work out how much money you would need in the worst case scenario.

The idea of the "doubling up" strategy is that in the above example you would only have to bounce back 50 points above your last 100 point marker to make a good profit at any one time in the process. That is where you would take profit every time.

Once you had made a profit you would start the process all over again with 1 contract only to start with......

I personally am going to decide on a "Stop Loss" of 150 points at first (entry point).
Bid A-Tool

Yes 150 points would be stupid for Day Traders. Bid A-Tool

The thing is because the way the signals work I was thinking a "Stop Loss" of maybe 120 points to let the trade flow. I just feel you may loose money on the "Stop Loss" than the actual trade. Am I making sense?

Bid A-Tool

I am thinking of a maximum Stop Loss of 75 points.
Bid A-Tool

Worked out a stop loss of 65 Points ...
Bid A-Tool

Approaching the Mont Blanc tunnel......

 

[Bid A-Tool]

I will put the Stop Loss Rols where I like. Obviously you wouldn't have a clue because you haven't come up with any ideas yet on the stop loss..... Mr. negative.......but we still Love you!

 

[rols]

I will put the Stop Loss Rols where I like. Obviously you wouldn't have a clue because you haven't come up with any ideas yet on the stop loss..... Mr. negative.......but we still Love you!

This may be a more suitable site for you.....
http://www.teenvestor.com/

 

[Bid A-Tool]

DATE: 24th April 2006 9:03pm

At the close of trading today, the indicators have confirmed a reversal (FALL - GO SHORT) is on it's way.

How long it's duration or strength or how many points it will fall, I am unable to say.

Trade entered (Sell order) DOW: 11,340
Stop loss entered just above the Last High (Logical): Maximum position loss in this trade 80 points or less. Stop shall be moved closer to entry point if the trade moves in our favour.

Bid A-Tool

 

[Chocolate]

As of close of trading today, I have gone long. (God help us!) How long it's duration or strength or how many points it will rise, I am able to say! The duration of the continuation will be 2 days and it's magnitude will be 140 points. Of course, Bet-A-Trend is probably going to win this little contest.

P.S. Let's not talk about my stop, it's of the "dizzying" variety; 80 points or so.

 

[Bid A-Tool]

As of close of trading today, I have gone long. (God help us!) How long it's duration or strength or how many points it will rise, I am able to say! The duration of the continuation will be 2 days and it's magnitude will be 140 points. Of course, Bet-A-Trend is probably going to win this little contest.

I just thought what about Bid-A-Trend? Brilliant. Anyway I'm off for a Bath and Bed time. Decision made.....no going back now!

What about Bid A-Trend.....Brilliant.

Anyway I'm off for a Bath and Bed time. Decision made.....no going back now!

Sleep well all you traders and no Fretting! Out all day tomorrow so will not be back until 3:00pm.

You would take your profit in this trade if it moved lower down, on the next buy signal or near to it.

Bid A-Tool

 

[frugi]

I just thought what about going short? Brilliant. Anyway I'm off for a Bath and Bed time. Decision made.....no going back now!

No, wait, hang on .. What about going long instead.....Brilliant.

Anyway I'm off for a Bath and Bed time. Decision made.....no going back now! This time I mean it. Honest.

Have you considered scalping?