Dow heading higher

[Scalping]

I'm expecting new highs today, since there is no resistance. :clap:

 

[timsk]

I'm expecting new highs today, since there is no resistance. :clap:

Don't you regard the morning high @ 14,650 as resistance? I do!

Tim.

 

[Scalping]

Don't you regard the morning high @ 14,650 as resistance? I do!

Tim.

Sure Tim we busy slicing thru like a hot knive going thru butter.

 

[Moneylender]

Originally Posted by timsk
Don't you regard the morning high @ 14,650 as resistance? I do!


Not anymore!!!

 

[stellarog]

Last through of the dice for the Dow, adding to my shorts here at 14665 target 13200 ish

 

[timsk]

Not anymore!!!

Fair play Moneylender!

Although my money is on a close (tonight) below the breakout 14,650 level. (Expect I'll be wrong about that as well, lol!)

 

[timsk]

Last through of the dice for the Dow, adding to my shorts here at 14665 target 13200 ish

Hi stellarog,
That's an ambitious target and it sounds very much as if you're scaling into your position? When you say "last through of the dice" - do you mean if the Dow doesn't sell off and continues to rise that you'll close / be stopped out of your trade(s)?
Tim.

 

[stellarog]

Hi stellarog,
That's an ambitious target and it sounds very much as if you're scaling into your position? When you say "last through of the dice" - do you mean if the Dow doesn't sell off and continues to rise that you'll close / be stopped out of your trade(s)?
Tim.

I mean I can't see it closing the week up here above14700 however if it does I will reconsider my position.

Regards Stella

 

[Scalping]

Last through of the dice for the Dow, adding to my shorts here at 14665 target 13200 ish

Stellarog, get ready to add more shorts at 15000.
What is your average price?

 

[stellarog]

Stellarog, get ready to add more shorts at 15000.
What is your average price?

Haha I won't be short at 15000. My average price is 14600 so about 100 offside at the moment although I expect to be in profit sometime tomorrow !

Stella

 

[timsk]

Haha I won't be short at 15000. My average price is 14600 so about 100 offside at the moment although I expect to be in profit by tomorrow !

Hi Stella,
In answer to my question you said you'll "reconsider your position" if price continues upwards. You're circa 100 points off side now, at what point will you reconsider and what does 'reconsider' mean? Does it mean:
A) You'll take the hit and close the trade.
B) You'll add to your position to raise the average entry price nearer to the current price.
C) Other - please specify.
Just in case you're wondering, I'm not someone who's against averaging into (or out) of trades, but not many people do it and those that do are often reluctant to discuss their approach. Suffice to say - I'm genuinely interested in how you manage trades that are off side.
Thanks,
Tim.

 

[stellarog]

Hi Stella,
In answer to my question you said you'll "reconsider your position" if price continues upwards. You're circa 100 points off side now, at what point will you reconsider and what does 'reconsider' mean? Does it mean:
A) You'll take the hit and close the trade.
B) You'll add to your position to raise the average entry price nearer to the current price.
C) Other - please specify.
Just in case you're wondering, I'm not someone who's against averaging into (or out) of trades, but not many people do it and those that do are often reluctant to discuss their approach. Suffice to say - I'm genuinely interested in how you manage trades that are off side.
Thanks,
Tim.

Answer A is correct. I'm out of that trade now !

Stella

 

[jlian]

Never mind about the losses (I had a loss as well near there). Do not base your trades on expectations!

 

[Cole Hann]

a 15K DOW. The market hates traders. Wants them to fail, and will do everything to get them to fail & lose $. The market hates winners. It's not going to be easy.