Dow 2007

[Dinos]

Trade entered

SL, Nick, its difficult to jump on board after the move has begun, I don't do it, I prefer to wait, but I have often thought about it, days like this are very frustrating. I have only traded once today, albiet very happy with the outcome.

Perhaps look at using the momentem between the macd line and target, as the gap widens the momentum grows and vice versa, (you already probably know that), maybe worth a look and paper test.

Short from 28 on the 10 min chart, reason macd crossover, divergence and stochastic movement, tight stop

 

[brutusdog]

SL, Nick, its difficult to jump on board after the move has begun, I don't do it, I prefer to wait, but I have often thought about it, days like this are very frustrating. I have only traded once today, albiet very happy with the outcome.

Perhaps look at using the momentem between the macd line and target, as the gap widens the momentum grows and vice versa, (you already probably know that), maybe worth a look and paper test.

Short from 28 on the 10 min chart, reason macd crossover, divergence and stochastic movement, tight stop

thing is some days you could get in halfway through a big move...great.

flip side is more often than that you buy a top and get stung....

each to his own for me wait till the right opp comes along.

had one trade today and happy to wait now although pretty bored at the moment.

 

[Dinos]

BD, well said, thats why I don't do it, to much of a gamble, rather miss a trade and wait than try and chase one.

Stopped out my dow -10, very hard to trade today, will watch for a while longer.

 

[brutusdog]

BD, well said, thats why I don't do it, to much of a gamble, rather miss a trade and wait than try and chase one.

Stopped out my dow -10, very hard to trade today, will watch for a while longer.

me too got the feeling this could go quite hard if it does wait and see time...

 

[lurkerlurker]

LL,
You need to change today.

Graham

Thanks for that. I got an email this morning from the folks at NinjaTrader advising about the futures rollover, but the CBOT website still has September as the front month for their live book. SB firms (FWIW) are also still quoting on YMU7.

 

[lurkerlurker]

Major trend day today - frustrated with myself for not getting in properly on it, however I am happy with the 57 pips I have made over a few trades. This makes up for the combined 22 point loss on Tuesday and Wednesday. I think I mentioned here yesterday that I always give back my first session gains when I come back at 7, so I am going to be extra cautious about trading this evening. I am away from my desk tomorrow, so if I quit now I am net +120 on the week (Monday-Thursday), so not too bad there.

Given that we have had a trend day already, the only good trades to my mind is either long on a break of 13,480, or shorting a "top". I'll try and call us a top here meanwhile...

 

[lurkerlurker]

Goldman Global Alpha

"Losses from the quantitative fund - which uses complex mathematical algorithms to construct its investment decisions - are understood to have resulted from a decision to sell Japanese yen and buy Australian dollars."

Yes, selling a low yield currency to buy a high yield currency is "complex". Damn quants.

 

[lurkerlurker]

Major support break, top most likely in. And I missed the price trying to sell 58, 55, 53 down there. Glad to be still flat though - that move didn't continue. Buy again?

 

[counter_violent]

I think this thread spends far too much time looking at fundamental nonsense.....but thats just my opinion

 

[brutusdog]

I think this thread spends far too much time looking at fundamental nonsense.....but thats just my opinion

i have to say that i agree with you cv on that. for short term day trading i dont see the point of knowing the fundamental position and anyway price discounts all news.

guess its different strokes for different folks.

btw, anyone know what has happened to firewalker, i found his posts very informative and the thread seems to have taken a bit of a nosedive in his absence. no offense anyone just my opp.

happy trading.

 

[Kevin21]

I think this thread spends far too much time looking at fundamental nonsense.....but thats just my opinion

totally agreed, no one really talks much about actual trading....

Today has been nice for me, been trading ES Z7, picked up 5 lots at 93 and 5 lots at 92.25 on the pullback. Covered 7 lots at 95 because i didn't like the volume situation and my bias was more weighted to going south,but i left three as runners with adjusted break even stops. Bailed out at 1500 because it was an important price on 4th. So just short of 8 full handels on ES, altho the majority of the position was covered back at 95.

Today = crap volume and plus it's a jewish holiday....

 

[Dinos]

BD,

He's away completing his thesis for his masters degree, back in October

I'll try and make a bit more noise to make up for him then!!!!

 

[tricks]

I think this thread spends far too much time looking at fundamental nonsense.....but thats just my opinion

Well said CV, couldn't have said it better myself.

cheers - Tricks

 

[lurkerlurker]

Some consistency is nice. Since I've not traded since 7pm, and I have given back all morning session profits (and more) in the evening session 2 days running, I won't be trading any more today. As I am away from my desk tomorrow, this marks the end of another week.

Going back over my trading logs, I've not had a losing week since week beginning 09 July. Given that I have traded at least one day per week since then, today marks my ninth consecutive profitale week in a row. This is the second major milestone for me (the first being breaking even after all these months).

Given that people are now trading the Z months, why are the U months still quoted over at the CBOT live book adn the SB firms? Will this change tomorrow / Monday?

Kevin, 8 handles - a nice trade indeed! Have a good weekend all.

We will all look forward to the return of firewalker. Now that we are rolling over, we can add around 100 points to the YM for FV adjustments / cost of carry. Given the day we have just had, and the bullish employment number, I suppose we are now heading for clear strength well above 13,500 on the futures. Perhaps certain commentators who said the bottom was in were quite correct after all.

 

[laptop1]

totally agreed, no one really talks much about actual trading....

Today has been nice for me, been trading ES Z7, picked up 5 lots at 93 and 5 lots at 92.25 on the pullback. Covered 7 lots at 95 because i didn't like the volume situation and my bias was more weighted to going south,but i left three as runners with adjusted break even stops. Bailed out at 1500 because it was an important price on 4th. So just short of 8 full handels on ES, altho the majority of the position was covered back at 95.

Today = crap volume and plus it's a jewish holiday....

You have come a long way in a few months Kev, from trading £1 a point spread betting to trading 10 lots on ES, thats £250 quid on 1 ES point

 

[Kevin21]

You have come a long way in a few months Kev, from trading £1 a point spread betting to trading 10 lots on ES, thats £250 quid on 1 ES point

One thing i've learnt recently is no matter how hard you work and how well you do for yourself, there's always someone there to try and put you down.


Edit just to say, the last time i was using spread betting i was doing some stuff on the cac dax on 3hr time frames that i talked about with dino's, i was going 50 a pt back then. Now i just trade eminis and i've jacked up my size under the guidence of my mentor.

This leads me onto something else whilst i'm here. Why the hell does everyone rave on about IB? Once you get out there and start talking to people in the business, especially over in the states, IB are quite crap. No service and stupid sized margins. The only thing they've got going for them is they've got a nice platform if you're trading multiple accounts. $3200 margins per contract on YM.... sod that when you get $500 marings per contract

 

[brutusdog]

BD,

He's away completing his thesis for his masters degree, back in October

I'll try and make a bit more noise to make up for him then!!!!

look forward to m8

 

[lurkerlurker]

One thing i've learnt recently is no matter how hard you work and how well you do for yourself, there's always someone there to try and put you down.


Edit just to say, the last time i was using spread betting i was doing some stuff on the cac dax on 3hr time frames that i talked about with dino's, i was going 50 a pt back then. Now i just trade eminis and i've jacked up my size under the guidence of my mentor.

This leads me onto something else whilst i'm here. Why the hell does everyone rave on about IB? Once you get out there and start talking to people in the business, especially over in the states, IB are quite crap. No service and stupid sized margins. The only thing they've got going for them is they've got a nice platform if you're trading multiple accounts. $3200 margins per contract on YM.... sod that when you get $500 marings per contract

Kevin, I'm looking to do direct access myself (2 lots maximum though!) - what other brokers would you recommend. 10 lots on the ES is very impressive indeed - your trading has gone from strength to strength (you've been on these boards less than me, and as laptop1 says you have increased your contract size 250x). Do you still trade the YM, or have you switched over to the ES entirely? Could I ask if your trading strategy involves market internals in any way - ie NYSE A/D issues, TICK, etc (for the ES).

Are you also using Dinos systems for position trading the CAC and Dax? How are those working out for your? Have you applied the system as stated, or made some adjustments yourself? Do you use volume, open interest, and the order book when trading?

How have your found it to adjust to making such significant profits? Some of my best weeks I've taken around £1k, and that takes a little bit of getting used to. How have you adapted to taking a few grand per trade, making such large pip gains trading such a size?

 

[Atilla]

Well said CV, couldn't have said it better myself.

cheers - Tricks

Can we have some charts and technical speak to add substance to these threads.

I like to see both on a personal level.

 

[tricks]

Can we have some charts and technical speak to add substance to these threads.

I like to see both on a personal level.

Hi Atilla,

I agree with that. In fact, this thread is in great danger of 'failing' because of a certain 'type' of verbal diaohrea! And that would be a very great shame.

Yes CV, you are thinking what I am thinking, no doubt?

P.S. Robert, keep up the good work, and speak soon.

P.P.S. Short FTSE Oct. (IG Index) 6401. And I know this is the DOW thread, but as we all know, the FTSE is led by the DOW, as indeed are all other indices, and the spread is lower!

cheers - Tricks