FTSE, DAX, DOW Trading Ideas and discussions

you then might get stopped out of the longs as they the range of the lows expands...but...who cares
you wont be sitting in a trade waiting for it to go in your direction...and you can always reeenter
 
OK thx for your response Dentist, unfortunately we trade in different ways... i.e. I trade very badly 🙂

I am long dax at 10853 (seriously don't ask...)
I am short dax at 10812

Currently trying to figure out how the best way of getting out of the hedge, normally I would pyramid out one way or the other.

I have now set alerts and will just wait till the position pops out of one side or the other.
 
f2calv said:
OK thx for your response Dentist, unfortunately we trade in different ways... i.e. I trade very badly 🙂

I am long dax at 10853 (seriously don't ask...)
I am short dax at 10812

Currently trying to figure out how the best way of getting out of the hedge, normally I would pyramid out one way or the other.

I have now set alerts and will just wait till the position pops out of one side or the other.
Click to expand...
Hi f2calv,
This isn't advice - just what I'd do in your shoes. Price is coming into support right now around 820. If it breaches this, ditch the long and ride the short. I'm short @ 819 - so a similar trade to you.
Tim.
 
Thanks tim - what stop do you have on your short, and what sort of timeframes are you considering?
 
f2calv said:
Thanks tim - what stop do you have on your short, and what sort of timeframes are you considering?
Click to expand...
Timeframes:
Trades taken on a 2.5 point Renko chart, but I also look at the 5 and 10 point respectively for a bigger picture. For a time based reference, I use a 1M and 15M Heikin Ashi chart.

Re stops, I'm loathed to answer that as it's a demo trade which means I'm experimenting with things one 'shouldn't' do! So, what follows is very much without my T2W hat on and is not T2W policy, lol!

Stops:
Much harder to answer!. Like you, I try and manage the trade with a hedge and close that if price moves back in my favour. As I type, that's been hit at 842. The Renko chart has now reversed, so I closed the long immediately for a small loss as price is now heading back into the range. So, I've now set another stop buy (hedge) at 846. It's a bit of a cat 'n mouse game when price is caught in a tight range. So far, 5 closed positions with a net loss of -4 with an open position still underwater.
Tim.

PS - here's (today's) screen and blotter. It'll be different tomorrow!
Tim's Screen.png
 
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On the Dow there is a trendline from the May and July Highs that will be at about the 17780 to 17800 level that I just noticed...if it gets there and reacts..

IT MAY be crossing that other longer term trendline that I indicated coming from 2011 lows....and if it is...and the market hits it.... I think we will either see fast decline or a further strong continuation....

Wonder what rate decision that they are going to come out with ?

Dentist, do you have any views on the US Indices remaining long term Bullish into 2016 ?

spx...dax...dow
dont guess the res
the market will tell you when
excellent movement from our bull flags we called
Click to expand...
 
Last edited:
Thanks for that Tim. I like the charts setup, have never used a Renko before... tbh I'm still struggling to understand RSI 🙂

Alas if only these were demo positions, so I'm going to take a break until FOMC and decide then what, if anything, to do.

Fallback scenario is to just leave the positions open overnight and look at them again in the morning after a good nights sleep [and half a bottle of red]!
 
Happy days, got out of that with -27, marginally better than the original -41
Now for that wine 🙂

*in hindsight yes closing both positions in profit was quite doable, however I didn't know which way the market was gonna go did I!? 🙂
 
2qa0aja.png


Circle highlighted - Dentists trap area / fake etc - time should have a clearer idea by 9pm.

2058 as dentist said as possible support.
 
Still feel we have more upside to go. 👍

The falls were so lame. 2045s not really tested. Skimmed off 2050s.

Now 2090 reached, why not try taking out 2100?

Why fight the CBs. Ride the wave all the way to the beach.

Life's a beach as they say 😎

German bond auctions went well at reduced rates with increased demand. So rates may yet continue to fall. Is that risk on or risk off? Well if rates drop and demand rises that's risk off to me. Volkswagen fiasco not dented any desire or appetite for all things German.

Euro heading to 1.08 so more upside for the DAX too imo. 1.10 was PP for quite some time. I do think the euro is grossly under valued but what else can the Fed do having set expectations??? FA because pigs will fly before they raise rates when all other nations far and wide are dropping theirs.

So DAX should try for 11000 also. Levels are there to be taken and it is the festive bonus season. 😉

I do hope however, come Friday we have some pull back and profit taking. 🙂
 
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