Diary of a swing spread better

[Vaco]

yuk,

what a tight range, haven't seen one that tight in a long time.

Bit the bullet at the end and closed my short at 11193 for a profit of 13 next trade is long just above R1 or long at the pivot point.

daily chart showing the pivots attached.

 

[chindl]

Agreed - dreadful yesterday, lost 11 points in that range. Such a tight **** today was Mrs Dow.
Where's the traveller, and where's Slaps gone????

 

[Vaco]

well i could easily be kicking myself today for coming out of my short trade, however it could just as easily gone the other way so i'll leave the kicking for real mistakes, not missed opportunities.

 

[Vaco]

Agreed - dreadful yesterday, lost 11 points in that range. Such a tight **** today was Mrs Dow.
Where's the traveller, and where's Slaps gone????

havn't u heard i'm covering whilst hung is away so its my trading journal instead of hungs till he gets back, :cheesy:

as for slaps he likes to take it easy with the ftse, same goes with his posting on this thread :cheesy:

 

[Slapshot]

Hi guys!!

I'm still here although waiting around on the 10min charts can be tiring.....anyhow, two trades triggered today Dow: Short 11160, Dax: short 5650, both on the cash markets.

Still ploughing through Steve Nisons book Chris, some of the patterns are now becoming so much clearer.

Funny you should mention the ftse El, I have had a quick peek now and then, trouble is now my job has changed I simply can't focus enough to day trade as I was. I'm hoping I may be able to get back to it in a few weeks, but then I was hoping for that a few weeks ago....lol.

 

[chindl]

Good to hear from you Slaps, and glad you're ploughing on wi Nison, it's tough to read as his style is not the best to take on board. At the end of it though, it really is worth it. I need to read it again to be onest.
Another tough tough day. Up 7 at the moment on two positive and two BE trades. Ranging 20 points from 100. Nothing doing, there's so many false sgnals on my plan, far too many. Need to tread very very carefuly. In fact, I'm tempted to leave alone and do some work work tonight. It's tough combining at the moment.
Chris

 

[chindl]

In this lack of trading range for me, I would like to ask a question. Does anyone reading the thread have any advice on how to implement volume into trading; any good volume resources out there?
I missed a signal just after 7-20pm, I was looking at all the 1-2-3's and missed it. Will post the madness of a chart later, nowt done this evening. Hugged the 100 EMA too much for my liking so everything seemd to break falsely. The Tempranillo now has my full attention. Sod work for tonight, go in early!
Chris

 

[Slapshot]

Sod work for tonight, go in early!
Chris

 

[chindl]

I was long on that move just before it started but got out at BE as I had a rethink cos o the last half hr principle. What did Byron say, better to have traded and lost than to have not traded at all, or something like that! feckin liar he was, what did he know!!!!! Have a good rest o evening chaps, I'm off to reminisce on what I would have done with those 30 missed points, not. Be good to hear from Hung sometime soon, wonder how he's gettin on? Nice 123 top forming for the close on the one min future!

 

[chindl]

WTF - here's my afternoon session chart. Make of it what you will. I think trading hooks and 123's would have been the way today, but I have no confidence in shorting tops and buying bottoms just yet. Hoping that will come with time and with my monitoring of these set ups. One thing seems to be clear, this is the way to go when in a range, plenty of price signals that it was heading back to the opposite side of the range, confidence in your actions is the key, along with the next step, documenting how to play this particlar sport, set the referee some rules and then game on, I'll be the bistard in the black for once and for once, the ref can hopefully ask who the daddy is round here.
Anyhow, took 4 points this afternoon and 7 this morning to reverse the negative yesterday. The morning was taken afer about 10 mins into the session and took a signal south. The chart did not save, so can;t post it.
Chris

 

[Vaco]

Hey Buster, you got a wheelbarrow for those incredibly big gonads of yours?

chris where did that post come from i cant seem to find it and your reply to it is the first time i've seen it

 

[frugi]

I deleted it as it was unprovoked abuse.

 

[Vaco]

I deleted it as it was unprovoked abuse.

Thanks Frugi, thought i was going mad for a min there

 

[chindl]

I've removed my reply, not needed now!

 

[Vaco]

Long order triiggered, lets hope we dont have a repeat of last wed where my entry was the top for the day.

chart shows entry.

 

[chindl]

Another tight range we're in. 20 points since NY lunchtime. Which way will we break. See below for the morning trade negative 7 points. I've also posted a couple of trades from FX this morning using Phil Newton's Asian breakout methodology, one positive one negative. This is still in test so only using Oanda demo on this one!!

 

[Vaco]

Chris,

You really do like to diversifty dont you

 

[chindl]

Do you like the trades, the range is broken, you wait for it to pull back then if it forms a doji or other reversal type candle such as a spinning top or an hammer, you take the plunge with the SL set at the top of the reversal candle. ever that was from either the top or the bottom of the range depending on the side it breaks. Newtron Bombs doing, KISS.
At this moment in time the Dow is not giving me any signals, I personally am finding it too choppy to trade the Dow at the moment. I will keep plugging away, but I want another intraday tool for the kit bag. I like the idea of trading the currencies as it is a market always available to you. I've always liked the FX arena, and if I worked as a full time trader that is the most likely area for me to trade. I know of a few strategies, but work will not allow me to acces MT4, VT or D4F s will work with Oanda. particularly like the idea of trading off the back of Asia. So far it's working ok, but it's very very early days. Essentially, I diversify and look at different markets so that my thirst for knowledge continues and I am able to trade more than one methodology successfully. Essentially, when it comes to intraday, when the well of the dow dries up, I don't want to have to walk too far away to go and get some water.
Another tough day for me, small points loss - 13 negative today, but I did have connectivity problems both at work and here at home. Resulted in me taking small losses this evening that I would have hung onto had I not been struggling with my connectivity. I'd post a chart for the evening, but not able to, it went with the connection and quite frankly, I can't be arsed fartin around drafting another now. What I will say, there appeared to be quite a bit of divergence between the cash and the future in this evenings session.
Sauvignon in the chiller tonight, have fun folks and speak tomorrow.
Chris

 

[Vaco]

I'm tempted to follow your lead and go in to fx, the dow has been very nervous girl ever since Israel attacked lebonan, take a look at the chart below, the dows range for the past 5 trading days has been an awfal 160 pts and weve only hit one of my weekly pivot points (R1). Normally 2-3 are hit.

As for todays long missed hitting my stop loss by 1 point so still in, will hold it overnight tommorow brings new pivots and they will be much closer together so we will hopefully c a break out early next week.

 

[chindl]

Eleft - Try this, really can't fault the simplicity of it. as with everything, you will need to apply some of your own things to it, but, it's good so far.
http://www.trade2win.com/knowledge/...s/general_articles/15-min-break-out-strategy/
As for the Dow, you're spot on, all financials are struggling at the moment cos of the atrocities in Lebanon. On the EOD cash Dow we have a 123 formed. See attached...
Chris