Bloodhound
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Just stopped out at break even courtesy of the Dax at 4600 - am going to wait until it breaks through before shorting again. Am still bearish for today. What do yo think Vin?
The arrows are roughly in the right place but the numbers are correct. A small green bar started developing and became a small spinning top, the 4266.0 number came from being just above that candle which got broken by that candle.
As it happened I could have had more, but I think for the long term my exit was better. Many of these could have reversed.
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vinicius
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I`m still bearish.. I will start looking for long if price break trough 4300.. Otherwise I`ll wait for a short entry..
DAX and DOW are very interesting to watch as well, anything what happens there Footsie will follow..
If you dont mind.. I`ll give an ideia..
I use to move my S/L to breakeven as soon as a could and most of the time got stopped just to see the trend going without me..
My strategy now, instead of move my S/L to Break Even i buy two contracts and I sell one of then when the price reaches my stop loss level.. Like this you give trully room for the trade and dont lose money..
Hope you undestand what I`m trying to say.. My English still bad!
vinicius
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Not bad mate.. Nice entry..
But with you want some bigger moves forget about small TF.. You will get too much noise... And lose some good trades..
Bloodhound
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Hi Vin,
Thanks for that and it's certainly something I should be doing except that I am only trading 1 at a time at the moment. The reason for moving the S/L was I hate being exposed pre-US open. Had my fingers burnt too often!!! Anyway I have decided that the market is too stressed out by the 4pm (possible) US announcement. As a result I've placed OCO orders as follows:
Buy @ 3407 - S/L 4285 - Target 4335
Sell @ 4226 - S/L 4252 - Target 4140
I am still bearish but need to go out later so want to have both bases covered as, and when, the current range breaks....
All the best
KJ
Thanks for that and it's certainly something I should be doing except that I am only trading 1 at a time at the moment. The reason for moving the S/L was I hate being exposed pre-US open. Had my fingers burnt too often!!! Anyway I have decided that the market is too stressed out by the 4pm (possible) US announcement. As a result I've placed OCO orders as follows:
Buy @ 3407 - S/L 4285 - Target 4335
Sell @ 4226 - S/L 4252 - Target 4140
I am still bearish but need to go out later so want to have both bases covered as, and when, the current range breaks....
All the best
KJ
Bloodhound
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Completely agree re TF's. I now trade 1/2 hour and sometimes 15 min. It's made me understand what's going on a lot better.
KJ
wallstreet1928
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Yaw, Yawn..........
stop loss hit on both trades.........
strange market!!
Still shorting this market .....
minime69
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since this morn's awfull trading i have stepped back, i know as well as you the market will lower, but keep getting stopped out, why? because i don t want to miss the move lower and keep selling.
stop.
take a step back.
and wait.
if the move lower is going to be as big as you think, then you will have loads of chances to enter.
Bloodhound
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Totally agree - hence short order at 4226. Want to see the price break away from its initial balance...
wallstreet1928
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yes Im licking my lips wanting to short DAX and FTSE but that Geithner chap is starting to annoy me, what time is he coming out with his master plan?
wallstreet1928
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Oh forget it...................short 4640 ...stop loss 4670!!
minime69
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1500 US Wholesale Inventories M/M (Dec) -0.7% -0.6%
1500 US IBD/TIPP Econ. Optimism M/M (Dec) 44.0 45.4
1500 US Treasury's Geithner Testifies on TARP
1600 US Treasury's Geithner on Financial Rescue Plan
Bloodhound
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I'd heard it was expected at approx 4pm (GMT) but it might worth checking......
wallstreet1928
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short FTSE 4300 ...stop loss 4330!!
wallstreet1928
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amended both positions to break even...........
lets see where this goes people..........
lets see where this goes people..........
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