JillyB
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khi said:
Thanks for that, though I'm still not convinced on this one, my thoughts are still Long. What is you target and time frame to exit the trade?
I think it will be interesting to see what happens. Do you use TA to select the trades?
Sorry - so many questions. :|
JillyB said:
thats ok jill, as many questions as u like, i am not convinced on this one either thats why i have only shorted half of my usual size and also keeping half long in imt.
yes i do use TA for enter and exit, all i use is just 14 and 50 ma plus slow stocastic (not as sophisticated as many of u). to me the most important thing is stop loss. as whatever u do i still believe its 50:50 chance. so money management is the key for me.
i dont like posting the exact price i dealt, becos i dont want to creat any issues, but most of the time i post what i have done straight after what i dealt anyway. but if u like the price u can pm me, and i am more than happy to let u know.
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JillyB
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Thanks for that.
I was only asking about the exit price to see if you were considering a longer term trade on this, or just looking to catch a sharp movement and scalp it - so to speak. I'm looking forward to see what happens with this one.
I am also a great on for keeping things simple - on the Dow I scalp using mainly the candlesticks with support and resistance levels. I use the Stochastic, MA's and RSI just for confirmation nothing else. I scalp quite happily using these - no Level II, just the CMC dealing/charting package with two charts showing - 5 and 15 minutes. I can change these though and always check the 3 minute, for entry/exit points and 30 minute + 1 hour charts for trends.
It keeps me out of mischief
I was only asking about the exit price to see if you were considering a longer term trade on this, or just looking to catch a sharp movement and scalp it - so to speak. I'm looking forward to see what happens with this one.
I am also a great on for keeping things simple - on the Dow I scalp using mainly the candlesticks with support and resistance levels. I use the Stochastic, MA's and RSI just for confirmation nothing else. I scalp quite happily using these - no Level II, just the CMC dealing/charting package with two charts showing - 5 and 15 minutes. I can change these though and always check the 3 minute, for entry/exit points and 30 minute + 1 hour charts for trends.
It keeps me out of mischief
barjon
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jilly and khi
glh - and I'm sitting on the fence
The last swing low (solid blue line) may have been iffy (knocked out my addition ) and the last one (dotted blue line) may be the truer one. If so there'd have been a long entry just above the white line. On the other hand, the trend (my version) may have turned down by the break of that iffy swing low in which case another couple of highs may give a swing high to that new down trend which will confirm it. So waiting for the fog to clear
good trading
jon
glh - and I'm sitting on the fence
The last swing low (solid blue line) may have been iffy (knocked out my addition ) and the last one (dotted blue line) may be the truer one. If so there'd have been a long entry just above the white line. On the other hand, the trend (my version) may have turned down by the break of that iffy swing low in which case another couple of highs may give a swing high to that new down trend which will confirm it. So waiting for the fog to clear
good trading
jon
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JillyB said:Thanks for that.
I was only asking about the exit price to see if you were considering a longer term trade on this, or just looking to catch a sharp movement and scalp it - so to speak. I'm looking forward to see what happens with this one.
I am also a great on for keeping things simple - on the Dow I scalp using mainly the candlesticks with support and resistance levels. I use the Stochastic, MA's and RSI just for confirmation nothing else. I scalp quite happily using these - no Level II, just the CMC dealing/charting package with two charts showing - 5 and 15 minutes. I can change these though and always check the 3 minute, for entry/exit points and 30 minute + 1 hour charts for trends.
It keeps me out of mischief
i dont really have a target, i just try to make as much as (if in profit) possilbe with a trail stop. once i am in a position usually becos i guess (with my TA set up) there is gonna be a big move to my way with a stop, then i just wait for it to happen, it can range from hours to a couple of weeks. when and if it happens i just put on trail stop.
barjon said:jilly and khi
glh - and I'm sitting on the fence
The last swing low (solid blue line) may have been iffy (knocked out my addition ) and the last one (dotted blue line) may be the truer one. If so there'd have been a long entry just above the white line. On the other hand, the trend (my version) may have turned down by the break of that iffy swing low in which case another couple of highs may give a swing high to that new down trend which will confirm it. So waiting for the fog to clear
good trading
jon
thanks jon, it is unlcear, perhaps my money is going down the drain for me this one, well again, lets hope i am not gonna get stopped out soon.
cheers
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JillyB
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Morning Khi
Sorry about GLH -
IMT - I'm changing my feelings on this. There was a good bullish engulfing candle yesterday and there seems to be more of the same in store - could go as high as 1530-35.
Another tobacco company BATS looks like it may be good for a long.
CAT - looks like an opportunity for a short ?
Well those are my picks for the day :cheesy:
Sorry about GLH -
IMT - I'm changing my feelings on this. There was a good bullish engulfing candle yesterday and there seems to be more of the same in store - could go as high as 1530-35.
Another tobacco company BATS looks like it may be good for a long.
CAT - looks like an opportunity for a short ?
Well those are my picks for the day :cheesy:
thanks jill, its just one of those losses that has to be taken with no tears. the sector is bullish. agree with imt and bats, and i am still long in imt, but would n ot like to set a target, though there seems to be some resistance at around 1523ish. will set trailing stop.
