DaddyJohn
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well you held longer than I did.... one of my big problems is that I try and be too smart.. i.e looking for more prices by playing the pullbacks.. problem is you never seem to do quite as well as picking a good entry .. nice stop / risk profile and letting it run... story of my bloody trading life... am going to have another word with myself
dc2000
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I like the 4 day
I also took the early price on the FTSE and DOW 81 and 125 looking for a large move today and my preference would be DOW at -80 at the open I know big ask that would also see FTSE circa 5442 which is it target so maybe a decent pull back after to get short overnight
Mornington Crescent
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Cant keep up with all these quick trades you guys are posting
Hope you are all makng money from them
but from my perspective I havent seen a single sell signal during this "santa" rally
maybe today is the day but the need for year end window dressing seems to make this unkikey
Hope you are all makng money from them
but from my perspective I havent seen a single sell signal during this "santa" rally
maybe today is the day but the need for year end window dressing seems to make this unkikey
dc2000
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one needs a bigger poster to take your mind elsewhere
barjon
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don't you guys play the clock? reversal times (or attempts)usually 8:30, 9:00 and 10:00
DaddyJohn
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Hi barjon, no I have never done that.... what's the rules around these plays? sounds interesting.
We are coming up to 9.00 lets see what happens.
(I think it reversed around 8.20 this morning)
dc2000
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why the need for window dressing given all the anti wall street sentiment in the news a drop of 5 to 8% on indices would have jo public thinking traders had lost this year whilst reports to clients go along the lines of we kept our heads above water and made 1.5% etc
dc2000
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I have three time frames I look at intraday 16 mins 30 mins and 90 mins these are from start of session on any index
DaddyJohn
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Understand your point MC.. you could also take the view that this year has been more or less written off by the big funds.. noone will blame them for low returns given the environment.. however .. a lower print in December gives them a very good run at 2012.. and they wont have missed the rally.. everything I am hearing tells me much of the big money is waiting on the sidelines.. I doubt they will enter at these prices.. but 4500'ss there is a bargain...
Will see.. my pension fund hopes you are right.. my trading account hopes I am right..:cheesy:
Mornington Crescent
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I really couldnt say DC
I cant see why the markets are at this level at all other than they now have to attack
the big down candle from Oct 31 if they are to make further progress
(best seen on the cash)
that could well take it up to expiry or beyond
barjon
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No rules as such, DJ. If I was short as you were I'd be pretty confident to go to around 8:30 before getting worried about covering. Conversely, if I was looking for a long after an opening down move I wouldn't look 'til near 8:30.
More often than not you'll find a reversal attempt around 8:30 and if that fails another try at around 9:00 and whichever way it's been going thereafter some sort of attempt around 10:00.
Today the reversal was a tad early (around 8:25) - which was a relief since I'm holding long and would have protected with DOW short had it failed - and 9:00 called a halt to the retracement and we should be ok 'til 10:00 (although it's not looking too pretty at the moment
)jon
DaddyJohn
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No rules as such, DJ. If I was short as you were I'd be pretty confident to go to around 8:30 before getting worried about covering. Conversely, if I was looking for a long after an opening down move I wouldn't look 'til near 8:30.
More often than not you'll find a reversal attempt around 8:30 and if that fails another try at around 9:00 and whichever way it's been going thereafter some sort of attempt around 10:00.
Today the reversal was a tad early (around 8:25) - which was a relief since I'm holding long and would have protected with DOW short had it failed - and 9:00 called a halt to the retracement and we should be ok 'til 10:00 (although it's not looking too pretty at the moment
jon
thanks BJ will look out for this type of trade stup
barjon
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not so much "set-ups" but if you are into reversals (or looking to close a trade) they are times to keep in mind when things tend to happen. The other one is 15:00 (which is the DOW half an hour in like the FTSE 8:30).
The 10:00 try is still undecided but I'd prefer not to be in Split's shoes (which I am of course
so I've just protected with a DOW short)jon
