nickbennett
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I'm pretty new but has the Nikkei just broken the neckline of a head & shoulders started in jun 01. If so would this be a good LONG spread bet ?? Or am I just confused....... 
New trader thinks he's seen winning bet
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nickbennett
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Since I posted this observation of one of the most reliable signals in the chartist's book, the Nikkei has risen from 12,600 on day of post (7/9) to 13,750 on 4/10 but has subsequently dropped back to 13,227 (7/10). I believe there is more upside to come. Although none of you commented on this before does anyone have any comments now? I gained 650pts on this trade before stopping out but if uptrend continues am looking to get back in.
Don't agree with your H&S analysis but the odds favour continuation of Nikkei uptrend.
I would prefer to have a third day of weak performance before going long but this might not be a bad place to enter long, though with a tight stop as the US looks ambiguous at best.
I am watching the FTSE tomorrow as this has marked 4 consecutive weak days to the Nikkei's 2.
What are you going to do?
Tom
I would prefer to have a third day of weak performance before going long but this might not be a bad place to enter long, though with a tight stop as the US looks ambiguous at best.
I am watching the FTSE tomorrow as this has marked 4 consecutive weak days to the Nikkei's 2.
What are you going to do?
Tom
TWI
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I was originally in at 12460. Still retain 1/3rd of position and looking to increase again on dip.( Always like to leave some position in a market if I think it is still in trend even on pullbacks as it makes it easier to manage. Find it harder to get fully out and still maintain a good feel for what is going on). Think Japan has good potential from here. There is a good feature on what is happening there in this weeks economist.
I do concur the Head and Shoulders on the weekly.
I do concur the Head and Shoulders on the weekly.
nickbennett
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Got stopped out as was running 300pt trailing stop. As a newcomer I have no idea if this was too tight but with hindsight I am beginning to think it was. I use stops "mentally" as there seem to be a lot of intra day spikes in many shares and indices so I just check each open position at end of day. If share or index seems particularly volatile i use a very wide stop with the S.B. Company, as an emergency back-up in addition to my mental stop. Have opened another long position at just below 13500 still based on H&S and uptrend. In theory am quite confident of mid-long term gains but in reality haven't got a clue and stomach is churning like a milk maid on speed. Please give advice on stop strategies. Cheers, Nick.
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nickbennett said:Since I posted this observation of one of the most reliable signals in the chartist's book, the Nikkei has risen from 12,600 on day of post (7/9) to 13,750 on 4/10 but has subsequently dropped back to 13,227 (7/10). I believe there is more upside to come. Although none of you commented on this before does anyone have any comments now? I gained 650pts on this trade before stopping out but if uptrend continues am looking to get back in.
I'm so sorry. That's the worst that can happen to you if you're new to trading :cheesy:
I wish you good luck, and don't forget that sometimes it works but sometimes it doesn't. Be prepared for when it doesn't.
Silvia.