Dow 2007

attilla, i didn't say i believed him ,i just mentioned his remark,he also stated all the homeowners in this country like his parents who dont have a mortgage,house is paid off,and 100 billion on 12-13 trillion in the market place doesnt seem that much,ive read your posts,i took no offense

Thanks ammo, I thought I was replying to Bloomberg and I too heard some expert talking about some sub-prime being only 3% of the market etc and thought he is totally underestimating the situation.

I think it's Mr HS having too much time and fun I'd guess :D

I do like to get on my high horse - sometimes... ;)
 
dow direction

everybody looking at this I guess..

big move coming up soon?
 

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everybody looking at this I guess..

big move coming up soon?

dunno if big move.....but looking for a decent test of the open of that 2 week doji

BTW, I dont trade the Dow, but as someone mentioned before, the correlation (at least in the very low time frames) with EURJPY is making me to look more and more into Dow for trades on FX

j
 

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everybody looking at this I guess..

big move coming up soon?

According to the charts I'd like to see a higher high first. 13300 & then 13400 will need to go first.

It's possible but I don't see strength on buying. Volume was thin on the ups I read somewhere? :rolleyes:

If 13400 is breached I'll change my perspective. :)
 
According to the charts I'd like to see a higher high first. 13300 & then 13400 will need to go first.

It's possible but I don't see strength on buying. Volume was thin on the ups I read somewhere? :rolleyes:

If 13400 is breached I'll change my perspective. :)

This could of course also be interpreted as clever smart money accumulation...(nothing spectacular on volume)

cv
 
The week I decide to take time off is when the range suddenly expands and we get a few great trend days. I think we could see another test of 13,200 today, as we are certainly not making any headway north (and won't be until 250/300 is breached).

Short side only I guess. (I'm not trading though).

Never trade with a bias in mind.

Anyway, regardless of that, if you remember the trade I showed you from earlier this week (short from PDH on double top with lower volume), incidentally today is a very similar pattern... just a matter of timing the exit... a guaranteed 100 points. Now tell me again that the system I showed you didn't offer profits :p
 
Never trade with a bias in mind.

Anyway, regardless of that, if you remember the trade I showed you from earlier this week (short from PDH on double top with lower volume), incidentally today is a very similar pattern... just a matter of timing the exit... a guaranteed 100 points. Now tell me again that the system I showed you didn't offer profits :p

Firewalker, I have a long way to go yet! I will be looking into your system in much more detail over the coming days. I do not anticipate live trading any time soon though. The system you showed me broke even over a backtest where N=20 and trades were executed utterly mechanically. I never denied it had potential where N>20 and discretion is used in reading the market using Price and Volume! I look forward to tweaking it in the future.
 
If that trendline is the one connecting from the late July high, it's now made out of granite :LOL:

I think we have one last desparate run at highs and then it will tank.

Test of 12500 again...

Purely based on gut instinct nothing more. Call it market manipuplation. When ever Ben talks markets steady rise - news gets digested and off they go again. :rolleyes:

Fed will back track.

U.S. Economy: Expansion Was Faster Than Estimated - article on Bloomberg pointing to stagflation again.

Dichotomy of stats in the economy, credit squeeze and sub-prime problems coupled with inflationary pressures and growth.

Sooner or later it will be acknowledged. Steady as she goes...
 
I think we have one last desparate run at highs and then it will tank.

Test of 12500 again...

Purely based on gut instinct nothing more. Call it market manipuplation. When ever Ben talks markets steady rise - news gets digested and off they go again. :rolleyes:

Fed will back track.

U.S. Economy: Expansion Was Faster Than Estimated - article on Bloomberg pointing to stagflation again.

Dichotomy of stats in the economy, credit squeeze and sub-prime problems coupled with inflationary pressures and growth.

Sooner or later it will be acknowledged. Steady as she goes...

Too much volume at those lows for them not to be tested...a cert we'll be back down there at some point...
 
did't anyone trade it today? Best day for ages... Haven't really been about the forums much the past few days. Through my various networking i've got a mentor now that has taken me under their wing and what i've learnt this week has been mind blowing. This week we haven't even touched the tip of the ice berg of all the stuff he's got to show me, and still already from what he's showed me i feel a million miles infront.

When i think about it with my new found knowlegde i'm shocked that i've actually got anywhere with trading lol. When laptop was saying to me that in the long run i wouldn't make money doing what i was - i completely agree 100%

Anyway, to day on YM we did two trades. First we had a long straight off the bat from 13205 with a 10pt stop with an exit target of 13340-45 which was hit. Then had another long from 13240. 13340 was again a possible target, but because of areas of value that developed during the day we played it safe and covered 3/4 of our contracts just be safe at 13273. +106pts for the day.


Now that i've got a mentor i'm only trading e-mini's.

edit to say... Aparently there were 3 trade setups todaying from what i'm being taught, but at the moment i've only been shown two of the trade setups that he uses. Progressing through them 1 at a time....


Kevin
 
did't anyone trade it today? Best day for ages... Haven't really been about the forums much the past few days. Through my various networking i've got a mentor now that has taken me under their wing and what i've learnt this week has been mind blowing. This week we haven't even touched the tip of the ice berg of all the stuff he's got to show me, and still already from what he's showed me i feel a million miles infront.
I am still taking some time off, so I don't even know where the Dow closed today! I haven't been able to say that in months. Very well done on securing a mentor - that isn't easy!
When i think about it with my new found knowlegde i'm shocked that i've actually got anywhere with trading lol. When laptop was saying to me that in the long run i wouldn't make money doing what i was - i completely agree 100%
What do you agree with? I think Laptop warned you about scalping in general, but do you mean anything else? Further, are you referring to being more consistent following a few well defined and high probability setups as they occur, rather than trying to trade everything?
Anyway, to day on YM we did two trades. First we had a long straight off the bat from 13205 with a 10pt stop with an exit target of 13340-45 which was hit. Then had another long from 13240. 13340 was again a possible target, but because of areas of value that developed during the day we played it safe and covered 3/4 of our contracts just be safe at 13273. +106pts for the day.


Now that i've got a mentor i'm only trading e-mini's.

edit to say... Aparently there were 3 trade setups todaying from what i'm being taught, but at the moment i've only been shown two of the trade setups that he uses. Progressing through them 1 at a time....


Kevin

That sounds like the best way to learn. Would you care to describe the nature of these setups in more detail? Do they relate to breakouts, reversals, PV relationships? Naturally I would understand if you cannot comment further.

I wish you all the best for the future mate!
 
Quiet without Lurker ! Didn't fall under a bus hopefully ?

Sorry about that Pat - I'm still here, just taking some time off - everyone is suggesting I do so. I've withdrawn the balance of my trading accounts so I can receive an extra few days interest in my bank, and am doing some other things at the moment. I intend to pop in from time to time and make the odd post. In a few days (or up to 10 depending) I am going to start seriously studying ES and YM systems until I can develop or tweak one enough to suit my objectives. This will involve lots of chart studying etc. I'd ideally like a few high probability setups which I trade when they occur, and only when they occur. I'll also need to move towards systems which do not require me to sit at the screen for the entire cash market session.

I think firewalker may have given me something really good, but in my current condition it is casting pearls before swine. If I spend enough time studying it, I'll find ways of improving. My volume analysis could be better though, and I suspect that is a large component of the discretionary trade filtering. I might take another look at Atillas longer term moving average system, if I can get further details on what actually constitutes a clear signal.

More will follow shortly - I'll find something I am sure. The hard part will be backtesting in enough market conditions to verify it is profitable (I will have to do this by hand), and then optimising the money management. The harder part will be executions, but I will ensure I trade at a size where I can comfortably lose 20 times in a row trading the new system. (at £1pp that is £20 * the average stoploss amount). I'll do the last exercise in Trading in the Zone with the new system when I have something usable. I am still going to focus on the YM, as I know this market quite well, but I am looking to make the jump to the ES as soon as is possible. If I am still spreadbetting, a 4 point spread on the ES represents much better value than 4 points on the YM!

LL Cool J has probably won the lottery ....... and is now living on easy street.. ? :cheesy:

My chances of winning that are approximately zero as I don't buy tickets. However, if I were to buy tickets (I'd probably have to be tempted by a particularly large jackpot or something), and if I were to win, can anyone guess what I would be spending my days doing?

Got it in one - trading! The only change I would make would be getting a direct access account, however I would force myself to trade 1 lot until profitable.
 
This pop overnight throws up some interesting possibilities........ :LOL:

The more premium they build in before dow actually starts trading - the better the opportunity ... if you know what I mean....

I would prefer a bit closer to to 13400cash before NY opens :LOL: :LOL:
 
This pop overnight throws up some interesting possibilities........ :LOL:

The more premium they build in before dow actually starts trading - the better the opportunity ... if you know what I mean....

I would prefer a bit closer to to 13400cash before NY opens :LOL: :LOL:

this news is probably responsible for the gap up?:
Bush to announce sub-prime plan
http://news.bbc.co.uk/1/hi/business/6971746.stm
I want to go long, but surely it must fall into the gap a little.
 
this news is probably responsible for the gap up?:
Bush to announce sub-prime plan
http://news.bbc.co.uk/1/hi/business/6971746.stm
I want to go long, but surely it must fall into the gap a little.

Cheers SOL If it does fill the gap I ( a few others) will be really pleased ... :cheesy:

Remember we had a double top on the S&p futs @ 1484 so that level should be interesting 78/9 hit on spike today
 
Cheers SOL If it does fill the gap I ( a few others) will be really pleased ... :cheesy:

Remember we had a double top on the S&p futs @ 1484 so that level should be interesting 78/9 hit on spike today

what is the significance of a double top? Yesterday I watched the DOW make what might have been a double bottom at 19:57 (time) .. then it rebounded .. (I was on board:cheesy: but not because of a double bottom .. just on a hunch - and indicators)
 
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