stoploss please
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Sun
I went long of the Dow today at 9118. I decided to try a filter of ten points above 9100. I hit IGs offer at 9118. Anyway got whipped out before the Dow powered higher.
Do you use any filters to take out whipsaws. Should I have just traded the break out of the pennant.
Cheers
Andy
I went long of the Dow today at 9118. I decided to try a filter of ten points above 9100. I hit IGs offer at 9118. Anyway got whipped out before the Dow powered higher.
Do you use any filters to take out whipsaws. Should I have just traded the break out of the pennant.
Cheers
Andy
10 point stop is a little close for SB on a day like today their bias is jumping around. If you can see the TA pattern, play the bias accordingly, its hard to hit the button in the opposite direction but it can be an easy few points in the pot thanks to bias. 
cheers a320
cheers a320
even on a strong trending day the market will tend to correct roughly 16 Dow points at a minimum, so 10 ticks stop is a bit tight Mr Stoploss...I have included a chart so you can see what i mean...notice the black lines
I dont use filters, I am more of a tape reader
Today was more whippy than a usual trend day...I would like to see 997 or so tomorrow and then let this baby turn down hard....TIME is up as they say...
sorry about your loss Mr stoploss, I had a naff day myself, but put on a good fight in the end, and after being down big due to a mechanical error, i ended slightly down....
I got two tv's tomorrow and then I am off for an early weekend.so if I dont post much, I will leave you with this, at your own responsbility,,,,,the Bradley model has turned today...I am looking for a good 50% correction of the rally from March....I dont know when it will start but it should be within the next 2 trading days....
Sun
I dont use filters, I am more of a tape reader
Today was more whippy than a usual trend day...I would like to see 997 or so tomorrow and then let this baby turn down hard....TIME is up as they say...
sorry about your loss Mr stoploss, I had a naff day myself, but put on a good fight in the end, and after being down big due to a mechanical error, i ended slightly down....
I got two tv's tomorrow and then I am off for an early weekend.so if I dont post much, I will leave you with this, at your own responsbility,,,,,the Bradley model has turned today...I am looking for a good 50% correction of the rally from March....I dont know when it will start but it should be within the next 2 trading days....
Sun
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china white
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Lads,
- 1st my apologies to Sid - sorry mate I am relatively new to this great community and had no idea u developed a model... no offence
- a320: I was to Las vegas once - had a good laugh with me mates, but honestly not a big fan of the place. Can't stand hordes of truck drivers in sweat "pants" punting away their nickels dreaming of "one million dallarrrs"..... However, if we organise a T2W trip there I'll b soooo up for it - I'm sure with our intellectual firepower we'll send them bust!
- Lambert: very good pt on time difference. Local time mrkt wud b opening at half-six am, so plenty of chances to capture a good cupl hours of trading before sun-seeking frolics.... My only concern would be the impact of mexican night-seeking jollies from the night b4!
- all of u lot - good profits and loads of fun!
- 1st my apologies to Sid - sorry mate I am relatively new to this great community and had no idea u developed a model... no offence
- a320: I was to Las vegas once - had a good laugh with me mates, but honestly not a big fan of the place. Can't stand hordes of truck drivers in sweat "pants" punting away their nickels dreaming of "one million dallarrrs"..... However, if we organise a T2W trip there I'll b soooo up for it - I'm sure with our intellectual firepower we'll send them bust!
- Lambert: very good pt on time difference. Local time mrkt wud b opening at half-six am, so plenty of chances to capture a good cupl hours of trading before sun-seeking
frolics.... My only concern would be the impact of mexican night-seeking jollies from the night b4! - all of u lot - good profits and loads of fun!
Hi guys
As expected we got the triple digit gain in the Dow, and the NASDAQ rallied by the “buy” recommendation on MSFT. The market did make a significant reversal off a major target point this week and has rallied sharply since. I suspect today could be another exaggerated move given the low volumes in the run-up to the holiday. I can’t rule out another attempt to get the market to break out above the 1000 in the SP. I follow the Bradley model here, which points to yesterday being the high. However, as this model does not point to direction, there is always the chance that it “inverses” and we are headed higher for the rest of the year. I don’t give that option much credibility but I am aware that many investors are wildly bullish. I know where I will put my money. I showed the model yesterday so you should be aware of its importance by now.
If the market breaks back below 980 it is confirmation that we are headed lower. However, above 995 in the SP would mean a trip back to 1000. Patience is required here but all points to a significant top is in place. Remember I said a while back that I felt 9350 was the high in the Dow but I would expect a lower high on the 2nd July. That is exactly what the market has done.
The path today is unclear and points to directionless trading day. The bias is to the downside, but I would follow the direction set after the unemployment numbers are released. The bulls will without doubt try to push the market higher going into the close to make the market look attractive over the holiday, and hopefully attract new money. Therefor there could be scope for a scalp long after the FTSE closes around 16:40.
As expected we got the triple digit gain in the Dow, and the NASDAQ rallied by the “buy” recommendation on MSFT. The market did make a significant reversal off a major target point this week and has rallied sharply since. I suspect today could be another exaggerated move given the low volumes in the run-up to the holiday. I can’t rule out another attempt to get the market to break out above the 1000 in the SP. I follow the Bradley model here, which points to yesterday being the high. However, as this model does not point to direction, there is always the chance that it “inverses” and we are headed higher for the rest of the year. I don’t give that option much credibility but I am aware that many investors are wildly bullish. I know where I will put my money. I showed the model yesterday so you should be aware of its importance by now.
If the market breaks back below 980 it is confirmation that we are headed lower. However, above 995 in the SP would mean a trip back to 1000. Patience is required here but all points to a significant top is in place. Remember I said a while back that I felt 9350 was the high in the Dow but I would expect a lower high on the 2nd July. That is exactly what the market has done.
The path today is unclear and points to directionless trading day. The bias is to the downside, but I would follow the direction set after the unemployment numbers are released. The bulls will without doubt try to push the market higher going into the close to make the market look attractive over the holiday, and hopefully attract new money. Therefor there could be scope for a scalp long after the FTSE closes around 16:40.
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China, no need to apologise. Sid's Model was just my way to describe my own trading style. It's taken me 2 years to develop a style that I'm comfortable with but honestly it's so simple (compared to some of the stuff that Sunseeker and Chartman and others come up with anyway) that if I published it you'd wonder what I'd been doing for the other year and 364 days! But it suits me and it's making money, at the moment at least.
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Errr ... is this the one where if the price is going up you're long, and if it's going down you're short? If so, it took me ages to figure that one out too!
Sid wrote:
. It's taken me 2 years to develop a style that I'm comfortable with but honestly it's so simple (compared to some of the stuff that Sunseeker and Chartman and others come up with anyway) that if I published it you'd wonder what I'd been doing for the other year and 364 days! But it suits me and it's making money, at the moment at least.
and making money is all that really matters...the rest is eye candy...
I know lots of guys who email me to say that this or that indicator is doing so and so....I ask, where is your stop....they aint got a clue.....keep it simple.......
good on ya, man
. It's taken me 2 years to develop a style that I'm comfortable with but honestly it's so simple (compared to some of the stuff that Sunseeker and Chartman and others come up with anyway) that if I published it you'd wonder what I'd been doing for the other year and 364 days! But it suits me and it's making money, at the moment at least.
and making money is all that really matters...the rest is eye candy...
I know lots of guys who email me to say that this or that indicator is doing so and so....I ask, where is your stop....they aint got a clue.....keep it simple.......
good on ya, man
china white
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Mags,
Just a note of caution here - even tho I do hold Mr Elliott as a person and a social behaviourist in great respect, sadly I have to admit that Elliott Waves work mostly in hindsight - at every single point in time u can come up with 4 labellings 2 of which will point north and the other 2 south. It is only very seldom that those 4 arbitrary labellings will point in the same direction - and that happens not more than 10% of the time. C'mon a reliable trading system needs to have a higher success rate!
I am aware of the fact that some cowboys make their living on Elliott predictions (their version of Elliott of coz). Check e.g. www.elliottwave.com - I actually followed that site out of curiosity - and found that they tend to become super-bearish at the bottoms and super-bullish at the tops.
Which of coz happens to all of us!
just a word of caution as a said b4.....
Just a note of caution here - even tho I do hold Mr Elliott as a person and a social behaviourist in great respect, sadly I have to admit that Elliott Waves work mostly in hindsight - at every single point in time u can come up with 4 labellings 2 of which will point north and the other 2 south. It is only very seldom that those 4 arbitrary labellings will point in the same direction - and that happens not more than 10% of the time. C'mon a reliable trading system needs to have a higher success rate!
I am aware of the fact that some cowboys make their living on Elliott predictions (their version of Elliott of coz). Check e.g. www.elliottwave.com - I actually followed that site out of curiosity - and found that they tend to become super-bearish at the bottoms and super-bullish at the tops.
Which of coz happens to all of us!
just a word of caution as a said b4.....
Skim,
Please tell me who leaked that information to you. My seminars are highly confidential and that information should not have been made public. Incidentally the cost to attend has now gone up to £10,000 due to overwhelming demand for places. Hurry, only 9,999 places left.
Sid
Please tell me who leaked that information to you. My seminars are highly confidential and that information should not have been made public. Incidentally the cost to attend has now gone up to £10,000 due to overwhelming demand for places. Hurry, only 9,999 places left.
Sid
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I was the right side of that swan as well, and hit market at 977.5 to cover my short and got a fill at 979.25, so 2 points slippage isn't bad on a move like that.
