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Peedee and Mr Chill:
Will you both kindly stop the bickering - if you wish to throw insults at each other please go elsewhere.
Thank you.
Will you both kindly stop the bickering - if you wish to throw insults at each other please go elsewhere.
Thank you.
Thread....
Position: "£7 per point (split like this) £2 @ 10074, £2 @ 10174, £3 @ 10264. HHHMmmmmm Time to make my mind up I think. My stop is at 10700, But thinks it will hit there."
Chill, I can't go through all the junk on this thread to find your advice. The guy asked for some help, I believe.
What did you say?
Position: "£7 per point (split like this) £2 @ 10074, £2 @ 10174, £3 @ 10264. HHHMmmmmm Time to make my mind up I think. My stop is at 10700, But thinks it will hit there."
Chill, I can't go through all the junk on this thread to find your advice. The guy asked for some help, I believe.
What did you say?
Cricket,
I am in exactly the same position. I was 9 short yesterday, but I sold 2 last night at small profits.
Here is my sixpenny worth. I know the children who visit these boards will tear me to shreds, but who cares!
1. Print out a 6 monthly daily chart of the Dow and mark on it your previous trade entry points and your overall breakeven point. Examine why you went short at the time and learn a lesson, because you were wrong ( so was I)
2 Decide if there is a sporty chance of the Dow falling to your breakeven point. I believe there is.
3 If your answer is NO, close the position and learn a lesson.
4 If your answer is YES, refine your entry signals based on the the analysis in "1"
5 The Dow has signalled a short term top and fell on Friday. At the completion of this down move ( and I have no idea when that will be), analyse your profit/loss. you may want to exit then. However, when the Dow next produces a BUY signal, you could buy 14 S+P Longs. I prefer double the number of hedged positions because it means that if I am seriously wrong my losses are reducing as the market moves against me.
6 At the completion of the next up move sell the 14 S+P Longs for a profit and buy a further 7 Dow shorts. You can carry on this procedure of going Long and Short until you are past breakeven of the original trade. However, longterm continuation of this steep uptrend will reduce the effectiveness of the strategy.
Now for the confession, I am unhedged at present because for weeks I have believed that the Dow could not go any higher! I have relearnt lessons which I first learnt about 20 years ago.
Trade what you see, not what you feel!
The first cut is the cheapest!
And finally, the market doesn't give a stuff what I think.
I'll recoup my position by buying S+P longs soon!
regards,
I am in exactly the same position. I was 9 short yesterday, but I sold 2 last night at small profits.
Here is my sixpenny worth. I know the children who visit these boards will tear me to shreds, but who cares!
1. Print out a 6 monthly daily chart of the Dow and mark on it your previous trade entry points and your overall breakeven point. Examine why you went short at the time and learn a lesson, because you were wrong ( so was I)
2 Decide if there is a sporty chance of the Dow falling to your breakeven point. I believe there is.
3 If your answer is NO, close the position and learn a lesson.
4 If your answer is YES, refine your entry signals based on the the analysis in "1"
5 The Dow has signalled a short term top and fell on Friday. At the completion of this down move ( and I have no idea when that will be), analyse your profit/loss. you may want to exit then. However, when the Dow next produces a BUY signal, you could buy 14 S+P Longs. I prefer double the number of hedged positions because it means that if I am seriously wrong my losses are reducing as the market moves against me.
6 At the completion of the next up move sell the 14 S+P Longs for a profit and buy a further 7 Dow shorts. You can carry on this procedure of going Long and Short until you are past breakeven of the original trade. However, longterm continuation of this steep uptrend will reduce the effectiveness of the strategy.
Now for the confession, I am unhedged at present because for weeks I have believed that the Dow could not go any higher! I have relearnt lessons which I first learnt about 20 years ago.
Trade what you see, not what you feel!
The first cut is the cheapest!
And finally, the market doesn't give a stuff what I think.
I'll recoup my position by buying S+P longs soon!
regards,
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Cricket
After yesterday I reckon you are now down by around GBP 1,900.
I reckon we are just seeing a short-term blip here before the Dow continues on its merry way to 11,000.
Maybe 1 or 2 more down days on Monday / Tuesday and then off to the races again. If I were you I would seriously consider cutting my losses early next week.
But as I have said b4, nobody has a clue what tomorrow will bring. Maybe OBL will get lucky and bring the whole house of cards crashing down.
After yesterday I reckon you are now down by around GBP 1,900.
I reckon we are just seeing a short-term blip here before the Dow continues on its merry way to 11,000.
Maybe 1 or 2 more down days on Monday / Tuesday and then off to the races again. If I were you I would seriously consider cutting my losses early next week.
But as I have said b4, nobody has a clue what tomorrow will bring. Maybe OBL will get lucky and bring the whole house of cards crashing down.
Thank you all Guys, Help from people like yourselves does seem to make things feel better and at this time they are, Yes i am running at £1900 loss, My break even number is about 10165 i Think, I am still in at present, I have been moving my stop loss closser and closser to where the Mar dow is, About 40 points away from it now on all 3 trades, Like alot of people on here I also feel it may come down more on Mon,Tues and then I Will get out with smaller loses.So looks like i will be going to the "Shattered" team on CH4 with a few nights watching. Again Thank you all without your comments i feel my Underwear would not of taken the presure.
Cricket
Having suffered the trauma you have experienced with this position, and it still has till March to mature, why not watch and wait and if in the meantime rises on an intra day basis, go long intra day to protect any more downside. However watch carefully you dont lose out twice over, if you elect to do this.
John
Having suffered the trauma you have experienced with this position, and it still has till March to mature, why not watch and wait and if in the meantime rises on an intra day basis, go long intra day to protect any more downside. However watch carefully you dont lose out twice over, if you elect to do this.
John
Cricket - why not use options to profit from the anticipated move. The example I originally posted here is now moved to it's own thread :-
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=7972
http://www.trade2win.co.uk/boards/showthread.php?s=&threadid=7972
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To all DOW enthusiasts
I receive a daily FREE newsletter from a guy called Charlie Miller on the DOW and COMPX with charts explaining his reasoning.
On 8/8/2001 he wrote 'DOW TO BOTTOM ON 22/4/03'.
Yes, he was predicting the DOW bottom a year and a half in advance!! HE WAS WRONG BY 11 DAYS!!!!!!!!!!!!!!!!!
He has been predicting the DOW at this current level and this time for the last 6 Months and he is spot on again.
Even when there are retracements (which of course, you don't know are such until they return to their trend) he still confidently states his case.He hasn't wavered from the DOW at 10600 and he's right again.
Well worth a look - he doesn't sell anything and he doesn't advertise anything and he doesn't have a website. He is an old guy who just enjoys writing his thoughts.
Just send an email to [email protected] asking to be added to his mailing list.
I receive a daily FREE newsletter from a guy called Charlie Miller on the DOW and COMPX with charts explaining his reasoning.
On 8/8/2001 he wrote 'DOW TO BOTTOM ON 22/4/03'.
Yes, he was predicting the DOW bottom a year and a half in advance!! HE WAS WRONG BY 11 DAYS!!!!!!!!!!!!!!!!!
He has been predicting the DOW at this current level and this time for the last 6 Months and he is spot on again.
Even when there are retracements (which of course, you don't know are such until they return to their trend) he still confidently states his case.He hasn't wavered from the DOW at 10600 and he's right again.
Well worth a look - he doesn't sell anything and he doesn't advertise anything and he doesn't have a website. He is an old guy who just enjoys writing his thoughts.
Just send an email to [email protected] asking to be added to his mailing list.
