Dow 2009

breadman said:
added again 7252,

candles i am long only average for all four positions is 7403. my long positions are smaller than my short positions as we are in a bear market which has a couple more years to go i think.
Click to expand...

breadman, do you use stops? how low will you let this go or will you just keep adding each time it drops another 100 points? I got in at 7512 and again at 7275, but im a small time player, just £1 a point each time (av 7395). I will hold out for however long it takes but its not an easy thing to do.
 
i'm back in near the sessions lows. i've locked in again - hopefully this time i don't get broken out again...

3 times i've been stopped out - maybe the markets trying to tell me something...
 
yes interesting link, im not using stops for exactly those reasons. but boy do you need to have a big set to hold out come what may!
 
Thanks - very interesting reading...

i've been very lucky today - each time i've been stopped out i've been allowed back in the same trade at a lower price.

i certainly think when you're going against the market movement, it might be a good idea to use a stop...
 
moonwalker said:
breadman, do you use stops? how low will you let this go or will you just keep adding each time it drops another 100 points? I got in at 7512 and again at 7275, but im a small time player, just £1 a point each time (av 7395). I will hold out for however long it takes but its not an easy thing to do.
Click to expand...

moonwalker

no thats it, 4 long positions is the same as 1 short position for me.I have been looking for a turn this week. I was early with my first few positions but i still think the market is going to have a bounce that could last for the next 2 weeks. how high we bounce we will just have to see.my average is 7403 which i think we will see next week.
 
dow0220gbf2.png
 
nice - am in the money at the moment buy roughly 100 points...

i think i might roll the position and see what happens...
 
finmarx said:
what does that mean as an indicator? 61.8% retrace?
Click to expand...

61.8% is a fibonacci number, say a share goes from 1p to £1.00 then comes back to 38.2p that would be a 61.8% retrace. The fib retrace numbers are 23.6% 38.2% 50.0% 61.8% 76.4% and 100%.
this is a technical indicator which can be found on any charting package.

the low today for the dow at 6.18 pm was at 7250 and the high at 7.52pm was 7468, the 61.8% retrace was 7334
my entry was entered when the retrace was held at this level.
 
Last edited:
ok - thanks - as you can tell i'm not very clued up on fibonacci - I'll do some reading up in this area.

cheers for the explanation.
 
smbtnt said:
Ultimate target 7550?
Click to expand...

i still think we have a two week rally into 6th, 9th, 10th of March. this market is so oversold, but it is finding it very hard to rise. a move up to 7800/7900 area could still be on although it might not be able to get above 7700.maybe it's best to let it rally and then sell again.
 
You must log in or register to reply here.

Similar threads

T
Dow Jones... in pills
Replies
0
Views
1K
the-marketfighter
T
SeM0
Gold - December 21, 2009
Replies
12
Views
3K
SeM0
SeM0
T
Thoughts for 2009
Replies
17
Views
3K
N Rothschild
N Rothschild
T
Dow Jones: down… but just a little bit
Replies
1
Views
1K
demeanor
D
O
Dow Jones Update
2
Replies
38
Views
9K
makarona
M
Top