Mini Dow daytrading

[viclondon]

In my view trading during the lunchtime session is fraught with danger as liquidity drops a lot.


Paul

I perfectly agree with that, but this is not lunchtime, right? Unless it is an Italian lunch😀

 

[N Rothschild]

5-7 is "lunch"

8-9 is where you get the best market action

 

[viclondon]

Thanks for the info, that explains a lot of things.
I thought it was 5-6, more like a British lunch (a bag of chips in front of the PC)

 

[N Rothschild]

look at a days volume on a 5min chart, is a U shape..high at the open drops off during the day when high again at close

 

[viclondon]

Long at 8114, target 8160.
Wow, the action is back after a good lunch

 

[viclondon]

Out at 8126 for +12. Not enthusiastic about the big spike and the trin pointing high. Better to wait for the 20:30 move

 

[viclondon]

Wow! just in time

 

[viclondon]

Long at 8129, limit the sky. Go babe!

 

[viclondon]

Out at 8155. +26

 

[viclondon]

Now short at 8132. Target 8890

 

[viclondon]

Close at 8116. +16

 

[viclondon]

Not a bad day after all: 122 points in the bank in spite of plenty of connection problems.
But mostly I have learnt a lot of interesting things (including lunch habits) and met other nice traders.
See you all tomorrow, I have a game of pool with a friend at the pub

 

[candles]

Not a bad day after all: 122 points in the bank in spite of plenty of connection problems.
But mostly I have learnt a lot of interesting things (including lunch habits) and met other nice traders.
See you all tomorrow, I have a game of pool with a friend at the pub

That's fantastic! Good lad.

 

[Phil Mibbutz]

Good stuff, vicl. Have you looked in at Tra**s L**orat**y chatroom... we need some YM people over there!

 

[gedward3]

You are prolly right, as this week I get everything wrong

Looks like you were right mate. I went to the gym and had my stops in so noticed
when i got back.

Well Done Vic :clap:

 

[viclondon]

Thanks a lot guys.
It has been a fantastic day for me, not so much because I had decent trades, but because I got in contact with a lot of really nice people who can also give me great input and share each other experiences. I am sure we can help each other to get better in this game.
See you all tomorrow.

 

[viclondon]

Good stuff, vicl. Have you looked in at Tra**s L**orat**y chatroom... we need some YM people over there!

Hi Phil, no, I haven't heard about this place.
Would you care to develop?
Thanks

 

[viclondon]

Finally, what a breath of fresh air this place is, after what I have seen at Elite trader, where everybody insults everybody.
Trading is a very lonely business and to have a chance to share experiences with nice people is a great privilege

 

[viclondon]

wouldnt worry about pivots to much on the dow, they are more powerfull in forex than equities, good for a scalp tho

You raise a very good point here.
IMO in the forex market practically everybody uses 24 hours charts, so there is a strong consensus on the position of the pivots.
On the YM some people use 24 h, other market hours, with or without pre or post market, so there are just too many way of computing PP.
Still, when the market hours and 24 hours PP lie in the same position and there are not weekly or monthly pivots in the way, PP are for me the most powerful tool for anticipation market turnover points.
For example yesterday between 8100 and 8120 there was a bunch of pivot points within a few points, so I placed twice a limit order at that level and the market rebounced twice in that area

 

[viclondon]

Good morning.
It doesn't look too exciting today:
- Probably slow day before the long we
- No real opening gap
- The pivot point are all over the place today, no real area of support at all
I don't think there will be much to do, but you never know...
Happy trading