FTSE, DAX, DOW Trading Ideas and discussions

[tokyojoe]

Love the analogy TokyoJoe ! Very true. I'm always suspicious if I see a set-up like that because the institutions are looking at it too and know that its easy to sucker in the masses with a move that looks good.

Thanks HH, ps I was never one of the poor bugger 1st formers that was actually hung on the school gates by my pants, but I did see it happen often, didn't have the heart to do it to them myself.

This game is very tricky, knowing all the set ups, pattens, levels etc is such a tiny fraction of it.

Yes it's heading for x y z level, but it's how it behaves around those levels I'm interested in.

 

[tokyojoe]

So how do you both personally tell when it's a legit move to place a trade on? That's something I have trouble differentiating.

Hi MA, I've posted a couple of my thoughts on this thread re my thought process before a trade, i.e who is in trouble etc & hope that helped.

Also each day presents a different scenario, the pa has now gone into a momentum trade situation, giving much more opportunity in my eyes, I always stay away from creeping pa.

What is typical is I like to turn off between 11/11.30am-1pm ish, I bet it goes mental while I'm away from my desk, it often does.

It's a fine line avoiding the carrot or missing a move, I'm still trying to perfect it myself mate

 

[Hedging Highwayman]

So how do you both personally tell when it's a legit move to place a trade on? That's something I have trouble differentiating.

A well renown trader once said (his name escapes me) that the only way to true success in this business is to learn a handful of set-ups very, very well. More often than not people are very knowledgeable about trading generally but when you come to pitch yourself against the institutions do you think a general idea of what is happening is going to see you prevail against the best and smartest traders in the market? The only real way is to choose set-ups that you feel you get along with and then learn, listen, read about, get screen time in front of as many of these as you can. If you know everything there is to know about a set up like a wedge, when you see one you know you will be able to exploit it and do battle with the institutions but you only get that from knowing the minutia about it (what the pa looks like running into it, during it, how the set-up 'feels', is there overhead resistance etc, etc). Knowing what a wedge pattern or a pennant or a bear flag is just isn't enough because everyone else out there knows that too and if everything behaved like the text books say we would all be millionaires!
There are certainly people on here who possess this knowledge and hats off to them...gentlemen you know who you are

 

[Dentalfloss]

there we are
a decent 100 point move unwinding that overbought position we talked about at the open
job done

 

[Dentalfloss]

breakout point this morning was 11556 area..remember,we had that marked earlier in the week
support should start to come in at 11520 area from this chart which is just the last 24 hours

pretty predictable price action so far

 

[Dentalfloss]

in for the bounce..a scalp

 

[Dentalfloss]

if we go down ..then 11500 and there is a 50% area at 11480

15 min data from 11th may

 

[Dentalfloss]

scalps in and out of 11520 area
if it bounces then 11560-11580 res

 

[Dentalfloss]

a pump up to 11580 area as we said earlier

 

[Dentalfloss]

stop tightened..lets see how far it goes

 

[Dentalfloss]

scalp short from 11580

 

[Dentalfloss]

and closed a couple of mins ago

 

[Dentalfloss]

and a decent move down from the 11580 res

 

[Dentalfloss]

with a move back into 11580 which was taken and a scalp short froom that area

 

[Dentalfloss]

back down again from 11580
options expiry soon in US

 

[tokyojoe]

back down again from 11580
options expiry soon in US[/QUOTE

Are you sure you are not an Artist, Dentist ?

That whole move just painted a very nice picture.

 

[MichaelJohnFX]

Short Dow 18225

 

[Dentalfloss]

back down again from 11580
options expiry soon in US[/QUOTE

Are you sure you are not an Artist, Dentist ?

That whole move just painted a very nice picture.

think i was mistaken..options expiry ??
saw something on twitter about how to trade options expiry
Durr...its the third friday
how did it paint a good picture ??

 

[Dentalfloss]

was so busy with the dax today
a 250 point downmove so far..it did not click
all my grey matter was concentrated on the dax

 

[tokyojoe]

think i was mistaken..options expiry ??
saw something on twitter about how to trade options expiry
Durr...its the third friday
how did it paint a good picture ??

with a general short bias 11580

assumed you were scalping down short ops