US Indices intraday trading - JULY 2003

[bottomdollar]

Better than my record!! haha

 

[iwish]

do'nt worry bottomdollar i've been trying for three bl##dy years and i've had my first 3 wins on the trott .
OOHHH am i feeling like i can rip the market apart now or wot...!!

 

[SUNSEEKER]

its time to get the TRUTH, bigbusiness, will you do the honour

 

[Bigbusiness]

21.7.03

 

[SUNSEEKER]

hmm....:{

 

[Bigbusiness]

Sun,

Once again I am amazed at how close you can get. From 2:30 to 4pm I was thinking it might be worth flipping the chart over but then from 4pm to 8pm it is an amazing match. The last hour looks like it needs to be flipped again.

 

[bottomdollar]

Sun you seem disappointed in your path.. looks good to me!!!

 

[SUNSEEKER]

Big business, it probably wont make much of a difference, but can you try it with either the SPX cash or the SP future?

The good thing for me is that you prolly would not have lost money if you had sold it this morning, which is risky because you dont know if the path would open gap up or gap down...i took my chance, and put a stop in, not much more you can do, sums up the business we are in, in my view.....

i had a good day, mostly due to the Dax....one thing that gets me is that I took profits at 3346, and in effect left at least another 20 safe points in the market....

well, another one for the trading diary i guess...

 

[2468steve]

Tom,
what made you close Dax,given weakness in US

Steve

 

[Bigbusiness]

21.7.03 S&P

 

[SUNSEEKER]

Steve, it was a money question, the drop was straigth line...the trade was meant to capture 5-10 points on a handful of contracts. I got 40 points...I thought to myself " the SP futures are not moving very much, so it is not some kind of "bad" news, so it is probably stop-running. When you make that kind of money in less than 5 minutes, then I take it off immediately...yeah, of course it is kind of annoying to see you could have made the double, but that is what learning and improving is all about....it was never the less a very profitable trade....besides I am on holiday, and I was on my way to the pool when I saw the potential for a trendline break....took a chance, and was rewarded..


Steve, on a different note: my biggest short-coming ( this will raise an eyebrow or two, I am sure ) as a trader is that I feel the need to be in the market all the time. I dont mind admitting that because I have worked very focused on eliminating this trait.

When I trade using my method I will trade between 2-5 times a day.

 

[chester]

Sunseeker - The accuracy of your Daily paths could actually result in only one trade per day. If for example your path said down for the day, 'one' could open up a short for the day and set a limit to gain 40 points for the move and close. This would have been worthwhile doing in 9 out of 10 of your daily paths since the 9th July.

 

[SUNSEEKER]

Chester, I am glad you have noticed the power of the path...

enjoy it while it lasts

 

[chester]

Sunseeker - I noticed you said ' enjoy it whilst it lasts'. Does that mean you will be stopping giving the 'path' on here soon ?

 

[SUNSEEKER]

Chester, that was a Freudian slip. However, since I brought it on myself i will let you know that I dont intend to give it away for free for ever. This is a very powerful edge to have in your trading day, and those who use it will realise it. I dont post it as a cosmetic exersice in order to see how I fared at the end of the trading day. I use it every single day in my own trading.

But dont worry, if you like it, it will be here for some time to come

 

[chester]

Thank You for your prompt reply. As a matter of interest, I have no path for the day in the above chart. Is it just me who can't see it ?

 

[peto]

invisible to me too!

 

[a320]

Can't see a thing Tom

Hope this helps :cheesy:

cheers cj

 

[chester]

How come we couldn't see anything and then you manage to put it up ?

Thanks anyway.

 

[SUNSEEKER]

thx a320, beats me what happened there....As you can see I am expecting a down open, maybe to the 973 -974 area and then a bounce around 16:00...

I am very curios what kind of bounce they can produce now the trend is down and the tech stocks are being sold off