Dow 2007

[firewalker99]

Just had a nice 100pts off the dow cash on cmc lol. As some of you probably have already read, i'm going back to uni in september to further my degree, so i won't have time to sit day trading for 16hrs. So after a chat dino, i've been looking at the bigger time frames to position trade that are less demanding to manage. Today i tried the dow on 1hr and caught the 100pts right at the end. Nice easy stuff that i just left to its own devices whilest i cooked my dinner. Once i'm confident with the system and i'm taking just the safe steady shots, then i'll gear the pips up to match my earnings from day trading

Kev

Good luck on that degree.
Presumably you went long on breach of 13400 fut price?

Daytrading doesn't have to be demanding really. Like today all you had to do is place a limit order at the right level and let the trade manage itself. Obviously it's not always that much fun

 

[firewalker99]

Tempted to go short again based on gut instinct. Charts look bullish to me so will stay flat for today and overnight.

Hopefuly will get to play tomorrow.

Good trading everyone.

Now that I don't have the luxury to trade during the day, I might as well make a prediction lol. Not my kind of game, I trade on what I see and not what I am expecting to see or wanting to see but just in case anybody's wondering I favour upside and am thinking of 13650 cash as a potential target.

Btw, Atilla, I joined your fantasy game but apparently it's game over at the end of July? So unfortunately I only managed to play one day but you can see me in the rankings.
"Your ranking is 23 with a balance of £11,527.00". Not bad for my first day as a SB'er lol (11,5% gain). Sorry to see you didn't make it into the top 3 though, I thought you were looking pretty good there!

 

[bottomleyp]

Hi Dinos, Steve, LurkerLurker, Atilla, Kevin, Firewalker

Nearly a full house tonite.

Must thank you guys for converting me from trading based on it is too high or too low,
buying and selling based on that data, leaving it to run, and hoping it would turn my way eventually to trading based on charts.
Fortunately I came out on top , after a few sleepless nights, down 16K at the worst.
I will not trade like that again, I have learned my lesson.
Made a few mall trades tonite, picked up 25 points, but am getting used to reading charts and trade, usually closing position at end of day.
Enjoy reading all your comments.

Keep it up !!!

 

[Atilla]

Good luck on that degree.
Presumably you went long on breach of 13400 fut price?

Daytrading doesn't have to be demanding really. Like today all you had to do is place a limit order at the right level and let the trade manage itself. Obviously it's not always that much fun

Looking at the charts again I'm beginning to catch sight of a H&S reversal. FW you are probably right and I was thinking if 13500 is breached and then holds this bounce can go some way to 13860 before it turns back down again.

I think Feds speech will steady and spur the markets on again.

Will watch this and possibly change the lining in my gut to a long position...:cheesy:

 

[Kevin21]

True FW, my problem is the markets that i trade. I got blinded by the lights a bit and started chasing after the megga points, and the markets that i trade are so volatile that i don't dare leave them to their own devices. For example, a lot or makerts tend to get from point a to point b 1pips at a time fast or slow. The spmib moves 5pips at a time. You go to the toliet and come back to find the market has moved a few hundered points lol. Apart from that, i'm also interested in trying new systems because you never know what you might learn from doing so... For example i'm looking into trading off a 39,1,1 and support and resistence levels in commodites and the dax after having a chat about it over on the daily dax forum, as well other systems based on the elliot wave theory...

Today in total i only made a touch over 176pts out of 3 markets, which isn't not a right lot compared to when i'm sat 16hrs a day, but i'm a lot more chuffed with these 176pts. Went a tenner a point, so i made a tidy sum for the day, but the difference is that today i've been to town, saw my girlfriend on her lunch break, been shopping, walked about in the sun for bit etc, instead of having my eyes glued to the screen all day

 

[Kevin21]

Looking at the charts again I'm beginning to catch sight of a H&S reversal. FW you are probably right and I was thinking if 13500 is breached and then holds this bounce can go some way to 13860 before it turns back down again.

I think Feds speech will steady and spur the markets on again.

Will watch this and possibly change the lining in my gut to a long position...:cheesy:

I literally just got off the phone to my old man stating that in my humble opinion if it goes through 13500 and holds then hopfully we'll have a nice long position lined up. I don't think he was really bothered tho, he started telling about how when he types 'o' on his laptop he gets the number six....

 

[2468steve]

Hi Dinos, Steve, LurkerLurker, Atilla, Kevin, Firewalker

Nearly a full house tonite.

Must thank you guys for converting me from trading based on it is too high or too low,
buying and selling based on that data, leaving it to run, and hoping it would turn my way eventually to trading based on charts.
Fortunately I came out on top , after a few sleepless nights, down 16K at the worst.
I will not trade like that again, I have learned my lesson.
Made a few mall trades tonite, picked up 25 points, but am getting used to reading charts and trade, usually closing position at end of day.
Enjoy reading all your comments.

Keep it up !!!

It's a big learning curve m8.....keep it up....well done..:cheesy:

Fed meeting 2row so will be hitting the binaries again.....looks like we've got a consensus that a break of 500 cash could lead to 650....good volume tonight but ultimately the force is still downtown....

 

[Atilla]

Now that I don't have the luxury to trade during the day, I might as well make a prediction lol. Not my kind of game, I trade on what I see and not what I am expecting to see or wanting to see but just in case anybody's wondering I favour upside and am thinking of 13650 cash as a potential target.

Btw, Atilla, I joined your fantasy game but apparently it's game over at the end of July? So unfortunately I only managed to play one day but you can see me in the rankings.
"Your ranking is 23 with a balance of £11,527.00". Not bad for my first day as a SB'er lol (11,5% gain). Sorry to see you didn't make it into the top 3 though, I thought you were looking pretty good there!

Thanks FW,

And good going too. I didn't want third or second place for £300 or £100 so I went all out placing multiple entries on instruments that were related all to move in the same direction. I made the wrong call of going short and markets picked up a little.

I did enjoy it though. Wouldn't trade like that in a live scenario unless I had money to burn. Having said that I made more than I lost.

I'm now thinking of opening an account with IG as you can trade from any browser with them.

Regarding your note on markets will still be here:

I was rushing to catch a British Rail train once and as I went to buy my ticket I could hear the train pulling off leaving the platform. In a harrassed and stressed way not thinking I asked "Have I missed the last train?"

This charming elderly chapy sitting on behind the window, said "Oh no sir... You'll never miss the last train... There will always be another train."

He said it in a slow well informed way. It realy brightened up my day that did. I could'n't care less if I waited another 30 minutes for the next one as I smiled and pondered his inspirational remarks.


Good luck to you too...

 

[Atilla]

I literally just got off the phone to my old man stating that in my humble opinion if it goes through 13500 and holds then hopfully we'll have a nice long position lined up. I don't think he was really bothered tho, he started telling about how when he types 'o' on his laptop he gets the number six....

Is he using IBM Thinkpad?

Anyway there will be a Function key with Fn and also a Numlock key Nm.

Hitting a combination of Fn and Nm will enable or disable the number pad on your keypad.

It's like an ON / OFF switch. You may have LED buttons showing when it's on or not.

Hope it helps.

 

[2468steve]

True FW, my problem is the markets that i trade. I got blinded by the lights a bit and started chasing after the megga points, and the markets that i trade are so volatile that i don't dare leave them to their own devices. For example, a lot or makerts tend to get from point a to point b 1pips at a time fast or slow. The spmib moves 5pips at a time. You go to the toliet and come back to find the market has moved a few hundered points lol. Apart from that, i'm also interested in trying new systems because you never know what you might learn from doing so... For example i'm looking into trading off a 39,1,1 and support and resistence levels in commodites and the dax after having a chat about it over on the daily dax forum, as well other systems based on the elliot wave theory...

Today in total i only made a touch over 176pts out of 3 markets, which isn't not a right lot compared to when i'm sat 16hrs a day, but i'm a lot more chuffed with these 176pts. Went a tenner a point, so i made a tidy sum for the day, but the difference is that today i've been to town, saw my girlfriend on her lunch break, been shopping, walked about in the sun for bit etc, instead of having my eyes glued to the screen all day

no point killing yourself m8 for 16 hrs a day...after all the dream of trading is to have a better quality of life,financially independant,away from the rat race.....it can allow time to do the truly important things in life.......

"health above wealth...wisdom above knowledge" don't know who quoted that,but hey they were right.....

 

[Kevin21]

Is he using IBM Thinkpad?

Anyway there will be a Function key with Fn and also a Numlock key Nm.

Hitting a combination of Fn and Nm will enable or disable the number pad on your keypad.

It's like an ON / OFF switch. You may have LED buttons showing when it's on or not.

Hope it helps.

Cheers Atilla... he's been annoying me recently with his ridiculous uneducated tangents about trading, trying to tell me what to do. So i'm just gonna be cruel and leave him to work it out. Thats just the way he is tho, i remember when my brother breifly turned professional at boxing, he used to give my brother advice on boxing before a fight when he didn't know a damn thing about it all lol.

Anyway as you started before about 13680, i completely agree with you there as it can clearly be seen on the daily graph. The weekly graph is still suggesting we're going south a bit more in my opinion, so it will be interesting to see what happens. Longs above 500 and shorts at 13680.... would be nice in and ideal world

 

[lurkerlurker]

Good luck on that degree.
Presumably you went long on breach of 13400 fut price?

Daytrading doesn't have to be demanding really. Like today all you had to do is place a limit order at the right level and let the trade manage itself. Obviously it's not always that much fun

I went long on that too, but with a target of +40 which was hit. I was furious to come back and see the rally. I've been scalping the FTSE in the mornings, and position trading the Dow, so I was pretty knackered by 8pm.

 

[lurkerlurker]

Looking at the charts again I'm beginning to catch sight of a H&S reversal. FW you are probably right and I was thinking if 13500 is breached and then holds this bounce can go some way to 13860 before it turns back down again.

I think Feds speech will steady and spur the markets on again.

Will watch this and possibly change the lining in my gut to a long position...:cheesy:

Thanks for the long entries your system gave today Atilla. I agree with your sentiment, now we have seen strength above 13400. Next key S/R is 13550.

 

[lurkerlurker]

Thanks FW,

And good going too. I didn't want third or second place for £300 or £100 so I went all out placing multiple entries on instruments that were related all to move in the same direction. I made the wrong call of going short and markets picked up a little.

I did enjoy it though. Wouldn't trade like that in a live scenario unless I had money to burn. Having said that I made more than I lost.

I'm now thinking of opening an account with IG as you can trade from any browser with them.

Regarding your note on markets will still be here:

I was rushing to catch a British Rail train once and as I went to buy my ticket I could hear the train pulling off leaving the platform. In a harrassed and stressed way not thinking I asked "Have I missed the last train?"

This charming elderly chapy sitting on behind the window, said "Oh no sir... You'll never miss the last train... There will always be another train."

He said it in a slow well informed way. It realy brightened up my day that did. I could'n't care less if I waited another 30 minutes for the next one as I smiled and pondered his inspirational remarks.


Good luck to you too...

Ooops. The beginning of August has come and gone, and I didn't register for that competition. September? Sorry about that - I've been very absorbed with y actual trading. I am pleased to report I am now breakeven from last December, and have now effectively learned for free! Regarding IG - it is great - it woks on Linux, the java charts are very advanced and better than market maker in quite a few ways. Enjoy!

 

[laptop1]

Today in total i only made a touch over 176pts out of 3 markets, which isn't not a right lot compared to when i'm sat 16hrs a day,

Dont get to hung up over it Kev, only making 176 points ...you might have a better day tomorrow.

 

[Kevin21]

i am happy with 176pts, that was my whole plan. I could of had 500pt day today if i wanted to put the hours in, but i'd rather have more of a life, take 176 easier safer points, and gear them up. Currently going a tenner per a point with this system, but once i've finished everything i want to do and try, and have sorted myself a nice little steady cash cow that will make me 150-200pts a week without demanding too much screen time, i'll then start going 50+ quid a point.

Like i said, today has been nice and relaxing, and i can use the profits of this little experiment to put down a deposit on a new car, because the engine ramdomly blew up in my old car. I was left stranded on the only part of the m25 with no hard shoulder At least it wasn't raining tho...

edit to say... i miss read the post, i thought it was from lurker. In hindsight i wish i didn't bother replying...

 

[Atilla]

i am happy with 176pts, that was my whole plan. I could of had 500pt day today if i wanted to put the hours in, but i'd rather have more of a life, take 176 easier safer points, and gear them up. Currently going a tenner per a point with this system, but once i've finished everything i want to do and try, and have sorted myself a nice little steady cash cow that will make me 150-200pts a week without demanding too much screen time, i'll then start going 50+ quid a point.

Like i said, today has been nice and relaxing, and i can use the profits of this little experiment to put down a deposit on a new car, because the engine ramdomly blew up in my old car. I was left stranded on the only part of the m25 with no hard shoulder At least it wasn't raining tho...

edit to say... i miss read the post, i thought it was from lurker. In hindsight i wish i didn't bother replying...

Decided to go long on the DOW at the 13500 mark (c). Expecting good things from the FED.

A little risky perhaps but charts look too good. Should have gone long yesterday but losing the risk appetite perhaps...

 

[Atilla]

Decided to go long on the DOW at the 13500 mark (c). Expecting good things from the FED.

A little risky perhaps but charts look too good. Should have gone long yesterday but losing the risk appetite perhaps...

Stopped out for -30...

Inflation still a concern.

Although the DOW seems to be bouncing off 13400.

 

[Kevin21]

aye same here. Went long at 13500, then the bottom fell out with that news. Ended up -79pts because my stop didn't get filled Made 110pts out of the dax and ftse tho, it's lucky i decided to close them out before the 7pm. Just thought to myself walk with what you've got, you can always get back on in the morning. So much for 13680 tho.... :|

 

[Atilla]

aye same here. Went long at 13500, then the bottom fell out with that news. Ended up -79pts because my stop didn't get filled Made 110pts out of the dax and ftse tho, it's lucky i decided to close them out before the 7pm. Just thought to myself walk with what you've got, you can always get back on in the morning. So much for 13680 tho.... :|

Good going to end up on a positive Kevin.

Doing better on cable but still down approx -15 overall at the mo. Holding long pos on cable. Will leave it now for a few days as I do feel it will bounce off 2.02 regions.