Diary of a swing spread better

[Vaco]

Notice the bounce off the pp on the open and then the resistance at r1 before breaking through.

 

[chindl]

Pushing on R2 - missed the move out from open, in a meeting!!!! Doh!

 

[hungvir]

Hi guys,

I'll wait until a bit later to trade. Two meetings are coming up.

I wonder how long 11060 will hold.

Later,

Hung

 

[hungvir]

I just want to make it clear to avoid any confusion further down the road that there are different ways of working out the pivot points, the traditional method does not require the opening price and only produces 5 points, one one you put up is a variation to the original formula. On top of this my pivot points will be slightly different to the standard ones as i use cmcs charts to work them out and i believe they take midnight as the close of day rather then 9pm as the index is tradeble 24 hours. so to show the difference heres my cmc daily pivot points for today.

r2 11089

r1 11038

pp 10978

s1 10927

s2 10867.

happy trading

Thanks, Eleft!

If you went to the website, you'll see that they let users select different ways to calculate PPs. But it looks like they always use opening price in calculation.

Good trading,

H

 

[chindl]

Just 5 points from the morning session - need to leave as I have an appointment this evening so won't be back on track until 7pm, then it's Holland Argentina, this WC is hindering me a little on the dailies...
BTW - I prefer to use the close as determined by the ADVFN feed from the exchange rather than a bookies feed, as I use ADVFN charts for making my trading decisions. Out of hours trading for my daily dow strategy does not really concern me, apart from gauging the open.

 

[hungvir]

Just went long with stop loss at below 11080. I hope to make a quick 20 points here.

 

[hungvir]

Stop loss is now two points above BE. Have to go to a meeting now.

 

[dcarrigan]

Thanks, Eleft!

If you went to the website, you'll see that they let users select different ways to calculate PPs. But it looks like they always use opening price in calculation.

Good trading,

H

Using the Pivot Calculator
Enter previous days High, Low and Close then click on the Calculate button.

R3 [resistance level 3] = the most extreme high trading range.

R2 [resistance level 2] = the extreme high trading range.

R1 [resistance level 1] = the normal high trading range.

Pivot [the actual pivot point] = where the price should be.

S1 [support level 1] = the normal low trading range.

S2 [support level 2] = the extreme low trading range.

S3 [support level 3] = the most extreme low trading range.

The Fib Pivots are a similar calculation to standard pivots but are based on Fibonacci Ratios applied to the previous days trading range
hope this helps, free calc at live charts.

 

[hungvir]

Using the Pivot Calculator
Enter previous days High, Low and Close then click on the Calculate button.

R3 [resistance level 3] = the most extreme high trading range.

R2 [resistance level 2] = the extreme high trading range.

R1 [resistance level 1] = the normal high trading range.

Pivot [the actual pivot point] = where the price should be.

S1 [support level 1] = the normal low trading range.

S2 [support level 2] = the extreme low trading range.

S3 [support level 3] = the most extreme low trading range.

The Fib Pivots are a similar calculation to standard pivots but are based on Fibonacci Ratios applied to the previous days trading range
hope this helps, free calc at live charts.

Thanks a lot, Dcarrigan!

I don't think I am going to use it as one of the main tools but it's a good thing to be aware of it.

Cheers,

Hung

 

[hungvir]

Stop loss is now two points above BE. Have to go to a meeting now.

Worldspreads actually let me get out at three point profit. Haven't seen this generosity before

 

[hungvir]

The Dow is in a tiny channel now. Will see which way it breaks.

 

[observer MM]

Hi Hungvir,

I've been following your trading strategy from the beginning. learning a lot. I do not trade the DOW but JSE top 40 index. but the JSE trails the DOW.

Can u give me the URL for the live streaming prices for the DOW at Advern

Thanks

Observer MM

 

[dcarrigan]

Hi Hungvir,

I've been following your trading strategy from the beginning. learning a lot. I do not trade the DOW but JSE top 40 index. but the JSE trails the DOW.

Can u give me the URL for the live streaming prices for the DOW at Advern

Thanks

Observer MM

http://www.advfn.com/p.php?pid=char...&redir=1&period=1&freq=0&java_vm=ms&fp=8.0.22
sorry to but in but there you go

 

[hungvir]

You typed faster than me Dcarrigan

ObserverMM,

I am glad that this thread has been of some benefit to you. Here're some trading thoughts as much for me as for you.

1. Reduce trading sizes until you can sleep well at night.
2. ''Enter in mild time and exit in wild time''. Narrow bars give us perfect opportunity to get in with small stop loss.
3. If in doubt, stay aside.
4. Never take a profit I am joking here but the best thing to do is to keep trailing your stops and let the market take you out.

There're more but you might have seen it along the way in the thread anyway.

Good trading,

Hung

 

[hungvir]

And yes, take advantage of ADVFN's free feed if you could. They say there's no free lunch but there you go

Best,

Hung

 

[hungvir]

I am bored to death watching the DOW at the moment. Hopefully we'll see some direction soon. But it looked like people have made their mind up and they don't want to buy above 11110 and sell below 11100.

 

[dcarrigan]

You typed faster than me Dcarrigan

ObserverMM,

I am glad that this thread has been of some benefit to you. Here're some trading thoughts as much for me as for you.

1. Reduce trading sizes until you can sleep well at night.
2. ''Enter in mild time and exit in wild time''. Narrow bars give us perfect opportunity to get in with small stop loss.
3. If in doubt, stay aside.
4. Never take a profit I am joking here but the best thing to do is to keep trailing your stops and let the market take you out.

There're more but you might have seen it along the way in the thread anyway.

Good trading,

Hung

thats my main downfall taken profits to early. nothing better than experience imo.

 

[Vaco]

I am bored to death watching the DOW at the moment. Hopefully we'll see some direction soon. But it looked like people have made their mind up and they don't want to buy above 11110 and sell below 11100.

Its lunch time in the us hung, next big se=wing should kick off some point after 19:20 gmt.

 

[hungvir]

Now we're seeing some movement. I am long with stop loss three points above entry as it moved quite fast.

 

[hungvir]

And WS took me out at their quote. This is why I never use them at home. They don't take market order. Well, I got four points though.