I don't know if any of you guys have read The Master Swing Trader, by Farley, but it does provide some interesting insight into market behavior and tactics. He shows that a loss in momentum is the calm before the storm as the market has energy that it must dissipate. I guess we'll see.
Hi Bonsai,
Do you ever set-up short and long at the parameters - say for the Dow long at 9240 & short 9140 at the same time.
Toyed with the idea, but my clems aint big enuff. Read on one of the sites could have been incredible charts- a lot of traders over the pond doing just that. It's only in exceptional circumstances when the market hits the doldrums you can really take advantage of this set-up.
See as Iam typing instead of trading the INDU breaking to 9140-
bollox :cheesy:
Do you ever set-up short and long at the parameters - say for the Dow long at 9240 & short 9140 at the same time.
Toyed with the idea, but my clems aint big enuff. Read on one of the sites could have been incredible charts- a lot of traders over the pond doing just that. It's only in exceptional circumstances when the market hits the doldrums you can really take advantage of this set-up.
See as Iam typing instead of trading the INDU breaking to 9140-
bollox :cheesy:
Yep,
I have 2 SB trading accounts with D4F- initially for increasing the 3d spectrum of the DOW or the UKX( before the software was dramatically improved, enabling to view as many charts as you like of the same index/ equity)
So have the opportunity to trade both ways at the same time- had the notion it could be done at any time see which way the market is heading & opt out of the loosing set-up. Ideally you would probably need more than one operator. 'cos I know I'd make a right mess of it.
I have 2 SB trading accounts with D4F- initially for increasing the 3d spectrum of the DOW or the UKX( before the software was dramatically improved, enabling to view as many charts as you like of the same index/ equity)
So have the opportunity to trade both ways at the same time- had the notion it could be done at any time see which way the market is heading & opt out of the loosing set-up. Ideally you would probably need more than one operator. 'cos I know I'd make a right mess of it.
Cguesty,
First of all Iam no expert.
But after trading a while- I came up with the notion that the problem was deciding which way the market was going to go after a period of indecision.
Take today for example.
The Dow Jones has been hovering around the 9200 mark.
You could do one of 2 things.
Set a long and a short bet in seperate accounts at 9200 so you're potentially giving the spread away twice.
then wait & see which way the market tumbles & bail out of the loosing trade. you have to make twice the spread before you are in profit, but while you are in both trades you're maximum risk is twice the spread- I think.
Alternatively you could set your long and short bets at a distance from each other- say long 9240 & short 9180 & see which one gets activated- I don't think you can do that with one SB account ??
First of all Iam no expert.
But after trading a while- I came up with the notion that the problem was deciding which way the market was going to go after a period of indecision.
Take today for example.
The Dow Jones has been hovering around the 9200 mark.
You could do one of 2 things.
Set a long and a short bet in seperate accounts at 9200 so you're potentially giving the spread away twice.
then wait & see which way the market tumbles & bail out of the loosing trade. you have to make twice the spread before you are in profit, but while you are in both trades you're maximum risk is twice the spread- I think.
Alternatively you could set your long and short bets at a distance from each other- say long 9240 & short 9180 & see which one gets activated- I don't think you can do that with one SB account ??