Trading the SPX

wasp

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Right, I'm on a mission... :cheesy:

I'm looking to take the summer off from work so I'm in the need of earning enough to worry less.

Apologies if this has been covered before. did try a search but with not much luck.

I trade forex all day and usually finish around 6pm (GMT) and have been considering trading the last couple of hours of the DOW to finish off the day!

I'm sure theres plenty of people who trade in the evenings, so I was hoping if anyone can offer their opinion on these hours. I don't want to increase my risk during the day but then I don't want to diminish some of profits from the day. The extra hours aren't a problem but it needs to be worthwhile.

I'm in the process of looking back over data and charts to see the possible rewards but any experienced thoughts would be appreciated...

Cheers
 
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Cheers Racer,

Already started on that one, a good few hours reading in front of me!
 
Hi chrisw,
I can see no earthly reason why such an approach should not work as well as any other approach. Effectively the US markets trade to some degree in two halves, (it's a game of two halves :LOL: ) The morning session and the afternoon session, separated by the "lunchtime doldrums" Trading the whole day it is often useful to view the day as in efffect two separate days, you may get a move in the morning session which may see follow through in the afternoon, or may see a reversal in the afternoon. The lunchtime period characterized by relatively light volume can almost be viewed as a kind of composite of the normal pre-market / after hours session where some speculative players may position themselves for what they believe the afternoon will bring.
Hope that makes sense.

Heres a chart of the last 2 1/2 days INDU
 

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Yes it does, cheers.

As long as the 'second half of the game' offers 5 - 10 points as likely as the first then it seems worth my while!
 
Thanks Joules, the chart has no meaning, nor the Fib on it, sorry if I have created some confusion. The site has changed since I last used it and I was only experimenting with sizes/format for posting charts. As far as your comments go, I consider March to be the low point for my fib. I will try to remove the offending chart
 
Slight edit to the thread title for you there Julian! :cheesy:
 
......Or maybe not! Doesn't seem to allow changing the thread title. As you were....
 
Joules MM1 said:
There's no news sp this is all trend, all pattern and no excuses.

Erm F and GM credit rating cut to junk might constitute news for some even though expected :LOL:
 
Joules MM1 said:
Who me? Long in a bear market? Must have been tewibly tewibly dwunk!

Or too much caffeine in the system and pressed the wrong button :)
 
Not looking too clever for bulls so far today.. but this market is so fickle lately anything could happen!
 
Joules MM1 said:
Someone cry foul and unleash the dogs please

They have just announced that they made a mistake and added a 2 in front of the jobs number
:cheesy:
 
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