firewalker99
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whoops -30 today...
here comes a losing day! possible H&S reversal though... should've payed more attention
whoops -30 today...
here comes a losing day! possible H&S reversal though... should've payed more attention
firewalker99
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long 13500
hope you got out of your trade firewalker?.
another fund has problems, the end. 500 points?
firewalker99
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brutusdog
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out +25 net of spread
firewalker99
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out +30
firewalker99
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brutusdog
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very, looks like you pipped me on points though...
so tempted by another long but will wait till a possible test of 300 cash, also have to go soon so might get timed out
brutusdog
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very, looks like you pipped me on points though...
so tempted by another long but will wait till a possible test of 300 cash, also have to go soon so might get timed out
good luck all. will call it a day now all the best, hope you get another + fw.
firewalker99
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very, looks like you pipped me on points though...
yes perhaps on that trade, but I paid the price by going long too early before...
long 13410 now
Out +40 thankyou very much!
firewalker99
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out at 13475 = +65
very happy with that, lost 30 points earlier in the session but still finished with two profitable trades a +30 and a +65
firewalker99
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excellent stuff Dinos, your targets seem to be pretty far... how do you manage your trade? do you trail your stop? you don't seem to scale out so you exit whole of your position at once? I'm finding it very hard not to take profits at say 30 or 50 points...
your dax trade amazes me! taking 100 is a big bite! well done...
what signaled your exit?
tafita
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Good evening
Excellent short opportunity today on the Dow at 1900. As I trade in the evenings the first I saw of the chart was at around 1830. There I saw huge gains from the morning (US) session which had reached a plateau at around the 13450 level which provided support. However, IMHO, support was weakening because volume had shrunk and formed a U shape, which is not that discernable from the attached chart (Apologies, the intraday chart has volume much more pronounced).
I remember thinking to myself that if the price breached the low at 13443 of the bear candle maked with the first upwards pointing arrow, then this would be the start of an extremely bearish move since volume had already begun to pick up on decreasing price action: the Dow had made two lower highs by 1900. As this was all set up, I was poised over the sell button on my tradindex virtual account.
As the price went through 13443, I waited for a pullback before entering short marked at the downward arrow. I did not know at this stage when the pullback would occur and it could have escaped me at a much lower price level. I am glad it did not as the price began to fall. The events that kept me in the trade at 13400 when the hammer formed was the fact that volume was decreasing as the price was rising which signalled weakness for a bullish move. I would have expected much higher volume before exiting the trade. Later as the price fell on massive selling the only problem I faced was where to exit since all previous resistance levels of the day were being smashed. In the end, i exited at the last upwards arrow admittedly out of fear of losing open equity since the price had begun to stabalise at 13350. Out for +81.
As a newbie to day trading, i am finding it difficult sometimes to find opportunities every day to trade the Dow which is why I only trade it on the sort of high probability trades such as today. I wonder if people could advise if there are any other indices that offer the same volatility as the Dow? I am actually looking at trading US equities since I think this would provide more opportunities.
Thanks for reading and please feel free to ask questions or give feedback.
Tafita
Excellent short opportunity today on the Dow at 1900. As I trade in the evenings the first I saw of the chart was at around 1830. There I saw huge gains from the morning (US) session which had reached a plateau at around the 13450 level which provided support. However, IMHO, support was weakening because volume had shrunk and formed a U shape, which is not that discernable from the attached chart (Apologies, the intraday chart has volume much more pronounced).
I remember thinking to myself that if the price breached the low at 13443 of the bear candle maked with the first upwards pointing arrow, then this would be the start of an extremely bearish move since volume had already begun to pick up on decreasing price action: the Dow had made two lower highs by 1900. As this was all set up, I was poised over the sell button on my tradindex virtual account.
As the price went through 13443, I waited for a pullback before entering short marked at the downward arrow. I did not know at this stage when the pullback would occur and it could have escaped me at a much lower price level. I am glad it did not as the price began to fall. The events that kept me in the trade at 13400 when the hammer formed was the fact that volume was decreasing as the price was rising which signalled weakness for a bullish move. I would have expected much higher volume before exiting the trade. Later as the price fell on massive selling the only problem I faced was where to exit since all previous resistance levels of the day were being smashed. In the end, i exited at the last upwards arrow admittedly out of fear of losing open equity since the price had begun to stabalise at 13350. Out for +81.
As a newbie to day trading, i am finding it difficult sometimes to find opportunities every day to trade the Dow which is why I only trade it on the sort of high probability trades such as today. I wonder if people could advise if there are any other indices that offer the same volatility as the Dow? I am actually looking at trading US equities since I think this would provide more opportunities.
Thanks for reading and please feel free to ask questions or give feedback.
Tafita
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Hi guys,
been away for long weekend to Yorkshire......what a nitemare with the rain,I now know how a duck feels.I think i've developed webbed feet....
Kept my shorts for the week and pleased to see they were closed out yesterday .....all my targets were hit convincingly.....13320 on Dow +310....1495 on SPX +430.....Dax 7845 +250...total +990......
Think it done me a favour tho' being away from the screen as last two days appear to have been quite volatile and not sure whether i'd have held on....sometimes it's maybe best to just place a trade and then walk away......
I've got today as a possible low and pivot to the upside with higher prices into weekend....a big but tho' is if today ends negative even by a few points we are going much lower thru' this week and into next.....sub 13000 and into the 12700/600 area.....
good luck all
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