Dow 2007

thinking about it despite the rate cut and the Central Banks joint effort to provide liquidity the fact that we are not powering off to new highs shows something is weak somewhere? or maybe its too soon to tell.
 
if anyone is looking for a long and tempted as we close gap into the close, Dont do it
 
the more points I make in the morning the more reckless I am in the US session :eek:

I was long the Dow when DC said don't be, but since I don't listen to anyone, I held ..I broke all my own rules I didn't cut and reverse I held until the bitter low ..then I averaged :eek: then I got out too soon in the closing relief rally .. I made 11 . count em .. points
never again! (again)
just once I want to be on the right side of a big Dow move :mad: :mad: :mad: :mad: :mad:

:D
 
shortorlong said:
the more points I make in the morning the more reckless I am in the US session :eek:

I was long the Dow when DC said don't be, but since I don't listen to anyone, I held ..I broke all my own rules I didn't cut and reverse I held until the bitter low ..then I averaged :eek: then I got out too soon in the closing relief rally .. I made 11 . count em .. points
never again! (again)
just once I want to be on the right side of a big Dow move :mad: :mad: :mad: :mad: :mad:

:D
Click to expand...

Patience is important too. I am annoyed at myself beyond belief. I sold a binary bet (dow to finish up, daily expiry) for £10pp at 92 (maximum risk £80). The price went as low as 5, which it touched repeatedly for around 20 minutes before the big reversal. I covered at 88, being concerned about the erosion of time premium as the index was still trading 200 points higher than the open, despite clear rejection of the highs after the FOMC move was retraced.
 
lurkerlurker said:
Patience is important too. I am annoyed at myself beyond belief. I sold a binary bet (dow to finish up, daily expiry) for £10pp at 92 (maximum risk £80). The price went as low as 5, which it touched repeatedly for around 20 minutes before the big reversal. I covered at 88, being concerned about the erosion of time premium as the index was still trading 200 points higher than the open, despite clear rejection of the highs after the FOMC move was retraced.
Click to expand...

bad luck lurkerlurker ,, I guess we just need to keep casting the line until we catch a big one while avoiding being dragged overboard :eek: and eaten by sharks .. um .. I know . A metaphor too far :LOL:
 
shortorlong said:
the more points I make in the morning the more reckless I am in the US session :eek:

I was long the Dow when DC said don't be, but since I don't listen to anyone, I held ..I broke all my own rules I didn't cut and reverse I held until the bitter low ..then I averaged :eek: then I got out too soon in the closing relief rally .. I made 11 . count em .. points
never again! (again)
just once I want to be on the right side of a big Dow move :mad: :mad: :mad: :mad: :mad:

:D
Click to expand...

patience is the key to getting into a good trade but its also about working out at what price you would be comfortable buying or selling, once in you need to work out where the market could go and where you are happy to take profit

ie: looking at todays action where would you be comfortable going short tomorrow? and where would you be comfortable going long?
 
dc2000 said:
patience is the key to getting into a good trade but its also about working out at what price you would be comfortable buying or selling, once in you need to work out where the market could go and where you are happy to take profit

ie: looking at todays action where would you be comfortable going short tomorrow? and where would you be comfortable going long?
Click to expand...



I'm currently short at the mo.

However, for tomorrow assuming I wasn't short already and waiting for that high probability trade...

Short if climb up to 13730 is rejected

Long 13800+ (with tight SL)

Both subject to MA and price crossovers on 4hr & 1hr charts for me.

Good trading everyone... :)
 
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