S&P 500 & other indexes - intraday. Plus chat

[counter_violent]

What're the odds eh. T2W article with scatter chart just released

Yes but your classic "risk on" would be +ve gold +ve FI -ve equities not all three +ve as is the case this morning, no? Saying that, FI now a risk asset?

wtf is FI?

 

[scose-no-doubt]

fixed income

 

[counter_violent]

fixed income

Ok I see. Well that looks like a whole nother area which for my purposes, I don't take account of.

 

[kimo'sabby]

Tis very true, I like to think there are ways of tipping those odds in our favour. Thats what most traders struggle with I recon.

I think most people end up realising that the easy money just isn't there. Back to work Monday...

 

[scose-no-doubt]

I think most people end up realising that the easy money just isn't there. Back to work Monday...

I'd settle for lucky money if I could get it. Any money at all actually...

 

[counter_violent]

I think most people end up realising that the easy money just isn't there. Back to work Monday...

Yeah exactly.

Just because they are at the PC they suppose they have to be doing something, being productive, trading for the sake of it. Completely wrong approach obviously.

We can only take what the market gives and they cannot be willed or forced so choose battles wisely !

 

[kimo'sabby]

I'd settle for lucky money if I could get it. Any money at all actually...

Lol. Good title for a trading book: The Art Of Jaminess....

 

[scose-no-doubt]

Just because they are at the PC they suppose they have to be doing something, being productive, trading for the sake of it. Completely wrong approach obviously.

When my account is empty I sit and think for days/weeks about whether and where I should place a long term and trade talk myself out of positions.
When I put money in an account I find that within minutes I've inexplicably placed an 85%+ TA FX trade that's fast approaching my stop.

That's why I watch this thread. It's nice to see people who despite trading short term are taking zero to few trades per day and doing proper pre-market planning. It's a bit of an inspiration.

 

[kimo'sabby]

First got stopped. I'll have a go at bid upside of 1340. Here's some images to get your eyeballs around.

 

[robster970]

Everybody was looking at 42 so they gunned the stops to take the weak hands out by the looks of it.

I would be surprised if it did hold up here...

 

[robster970]

I heard something yesterday that resonated for me:

Retail traders (aka amateurs) are generally right but at the wrong time..........

 

[kimo'sabby]

Everybody was looking at 42 so they gunned the stops to take the weak hands out by the looks of it.

I would be surprised if it did hold up here...

Tbh mate, i was expecting a bit more downside (obviously). Looks like the bids have kicked in...we'll see.

 

[robster970]

No trades for me today - way too much pushing out of range to participate.....

 

[kimo'sabby]

No trades for me today - way too much pushing out of range to participate.....

At the mo, the day resembles a mark-up.

 

[scose-no-doubt]

As a chart only viewer I'd have said s'gotta be fadeable...

need to get my cqg or something back again

 

[kimo'sabby]

Moved stop. It's Friday, and i don't see the sense in giving too much away. This is my final trade of the week.

 

[splashy]

hi,
busy day today, lots of action on the charts for me...
Dax
Pattern A and B weren't taken because they were right up against resistance and no room for 2X.
Pattern C was taken. It was a small reverse but illustrates what i mentioned yesterday about small targets being achievable against the trend as long as you ride the sentiment and don't get greedy etc.
Pattern D wasn't taken because the PA was still flirting with the t/l.
4 complete patterns on dax, all of which made their target although i was only left 1 to trade (ironically against the trend on an upside day). That what happens sometimes when pa is flirting with resistance and then pushes through. maybe i should be looking at whether its a common thing where 2 or 3 signals continually push against an area as to how often the break is made? I'll ponder on that.
ftse
pattern A wasn't taken because of the closeness of the resistence line. It hit target.
Pattern B gave a trigger beyond the line but fell foul of my 2X rule for the next resistence i had mapped. It failed to reach target.
pattern C was the same reverse short as appeared on dax. Just managed to squeeze within 2X rule so i took it and it hit target.
pattern D was a long after a double bottom. It was also heading into resistence but took off when the US markets opened and hit target.
4 complete patterns on ftse, 3 making target, of which i was again left only one to trade.
8 complete trades today, 7 targets hit so its a little frustrating as i could have really filled my boots today with 150 odd pips. However, resistence came second today...on other days it wins.
For the record, I take a trade when the trigger at 4 has exceeded point 2 by 1 pip, and i place the stop at 1 pip beyond the other end. So my risk therefore = distance 2-3 + 1pip + 1pip + spread. Target = risk for 1:1 ratio.
2 trades today +25 pips. :cheesy:

I

 

[piggybridges]

+5.9 handles today on my only SP500 trade.
Good week.
(trade highlighted in blue on the statement.)

Don't get carried away. Been a particularly good week for me in terms of points made. Back to normal next week at a guess...

 

[kimo'sabby]

Here's the move. Had to change my mind from offer -1335.00 (does ya head in) and join the the bid +1340.00.

 

[scholfield]

piggy and Kimo took the same entry? Good trading, either way