Dow 2007

Hi Dinos, hope you had a good weekend!
I was also just looking at how PMs are enabled, it seems LL beat me to it. My old short is looking pretty grim and I hope to get out with less loss on the eventual pullback.

I'm paper-trading your system today, went short just after you at 13290 and exited at 13282. Possibly another short coming up, although I think it's going to be a fairly flat day today, just so long as they make another record close.
 
lurkerlurker said:
Short 13317 (June Fut)
Click to expand...

With the risk of sounding like a pain in the ass, why? :)

I have a rule that after a losing trade I should not re-enter in first 30 minutes after that.
I used to be a rather heavy overtrader, now I realize that it's very rarely that two good setups appear so close to each other.
 
I'm not revenge trading or anything like that. I couldn't pull the trigger so soon at some of the better price ranges. This was an opportunity to get another short in - I am still bearish on this contract, and the mistake on the last trade was the stop position. I entered on an EMA cross and pullback. Seems an okay setup most of the time...

I think I am seriously risking sounding like a pain in the ass myself here...
 
Firewalker, (why?), fwiw, we are still in a bull market and the trend is still up, perhaps on the shorter timesframes a short signal has been hit?, on my 1 min chart, a short has been triggered, however, I haven't acted upon it. I think at this stage, I'm sitting and watching until confident of the direction we are to go
 
lurkerlurker said:
I'm not revenge trading or anything like that. I couldn't pull the trigger so soon at some of the better price ranges. This was an opportunity to get another short in - I am still bearish on this contract, and the mistake on the last trade was the stop position. I entered on an EMA cross and pullback. Seems an okay setup most of the time...

I think I am seriously risking sounding like a pain in the ass myself here...
Click to expand...

Not at all lurker, I think this is very educational stuff!
And I think it's very good to see people calling it live like, because we are all putting ourselves on the line here. And if it starts to plunge in 15min everybody will be laughing at my longs :-0

But what's more important to me, is why... why enter trade, what technical reasons, I'm looking to improve my trades too and I think the exchange of ideas and views is very interesting.
 
lurkerlurker said:
Oh, the timeframe thing. I am used to day trading with 1 minute candles. I am working up to larger timeframes, but I suppose I should keep my eye on the 10 min, with 1 hour confirming longer term trends, and 1 min to identify potential reversals / short term stuff. I'm thinking that the 1 min chart says sell, and the 10 min chart says buy!
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Lurker, here is the problem in a nutshell. Looking at smallest time frames and working up is completely ass about face. Always use a top time frame down approach...the idea is to take your intraday trades with trend, whereas what we have here is trying to pick a top against the overall trend....not only is this thinking against the trend, but it's against a particular phase in a trend....the Dow is in blow off phase, which is the strongest phase of any price movements you will ever come across in trading. Until you see a break of a steep rising trendline that might signal that blow off phase is over, then all that should be considered are longs, using smaller time frames to time entries...hope this helps and my advice would be to turn this thinking around so that a proper perspective of this particular market can be seen.

C V
 
Steve, have altered my setting, think you can send an PM now if you still wish

Another 10 -15 mins for me today, going to enjoy the remainder of the Bank Holiday
 
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Trending around R1 13289, anybody use the pivots to base an entry position, if yes, would you care to add your views
 
Counter Violent - thanks for clarifying that for me, and also for reminding me because I have read that in countless places. I suppose I have essentially ignored good advice - I don't know why I am trying to spot a reversal on a 1 min chart....

I've watched crude rise for years even before I traded, and began to see the carcases of traders trying to pick tops in that...

I've read plenty, and apparently forgotten it.

Dont buck the trend. In a bull market, one should be long. Examine the trend on a timescale one degree longer than that which you are trading. Nobody picks tops.

All of that seems to have been forgotten. Thanks for putting me on the right track again. I've been an idiot here, but at least my money has gone to smarter traders!

firewalker99, I agree that it is interesting to have differing perspectives, but perhaps I should stop trying to wipe out my account by taking silly trades which are just plain wrong!

Hopefully I'll learn from it, this time.
 
Hi Dinos, I tried the email link in your profile but it is still disabled, maybe it takes a little time to be updated. Have a good rest of the day off!
 
Firewalker, you long should be looking good now, well done. 1 trade for me today, (Flat), off now, might look in later, otherwise tuesday for me. Good luck all
 
Dinos said:
Firewalker, you long should be looking good now, well done. 1 trade for me today, (Flat), off now, might look in later, otherwise tuesday for me. Good luck all
Click to expand...

Just exited first half at 13340 (+25)... I think the action will happen later on this week.
 
I'm taking a few days off. Sustained unacceptable losses today, for the second time in a week.
 
lurkerlurker said:
I'm taking a few days off. Sustained unacceptable losses today, for the second time in a week.
Click to expand...

Lurker, understand i'm not preaching...the intraday action today is at best quiet, but it does reinforce the idea that longs are still in play until evidence suggests otherwise...hope todays and previous days action has shown this to be the case.

I'm trying to find an attatchment that I posted on another thread some weeks back .....will post it later hopefully.

C V
 
Now

I am short... 13335

Edit: Okay... wrong call... exited it with -7
 
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so...

anybody still in a position?

I wish I held on to my long from 13315... looks like another "one day - one direction" day :|
 
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