Spread Betting the Wall Street Rolling Daily

Hi
I have sold at 10083 a couple of minutes ago 8.34pm to close my long position

Mobanded

I was not convinced the Dow will get through 10100 at its first attempt to bounce back and sold close to it and sufficient to give me a £120 pounds or so profit
 
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Ross Spur said:
I really have no idea whether the Dow bottomed today. Could be more carnage this week if tomorrow's unemployment figures disappoint and Bernanke admits that a recovery is still a long way off.

Sorry to keep saying the same thing, but that wouldn't matter much if you were using stops and were prepared to accept small losses when you got it wrong.:)

btw, you must have been pretty close to an automatic stop-out on that spike down.
Click to expand...

Hi Ross Spur

I did not look at the stop position on my trade. What is the point in putting pressure on myself.

My faith in my system has, once again, turned out to be correct because I have closed at a profit.

Regards
Mobanded
 
mobanded said:
Hi
I have sold at 10083 a couple of minutes ago 8.34pm to close my long position

Mobanded

I was not convinced the Dow will get through 10100 at its first attempt to bounce back and sold close to it and sufficient to give me a £120 pounds or so profit. A further point I forgot to mention was that the Dow (on the one minute charts) gapped up at 10048 at about 8.31 and so could be expected to return to fill the gap at some point.
Click to expand...

Mobanded
 
mobanded said:
Hi
I have sold at 10083 a couple of minutes ago 8.34pm to close my long position

Mobanded

I was not convinced the Dow will get through 10100 at its first attempt to bounce back and sold close to it and sufficient to give me a £120 pounds or so profit
Click to expand...

can't believe you sold for only 10pips profit, you need to develop a run your winners, cut your losers strategy, as against what you think, you will not elude that 200pip Dow swing against you 94% of the time, or in other words you have to be right that the Dow is not going to swing 200pips against you at least 15 times out of 16 !

You've seen how news can cause the Dow to drop 200+, how does your "System" predict the news? does it have a Crystal Ball?!

I quite expect you to finish 10 days in profit, but you will lose it all not long after...!
 
leonarda said:
can't believe you sold for only 10pips profit, you need to develop a run your winners, cut your losers strategy, as against what you think, you will not elude that 200pip Dow swing against you 94% of the time, or in other words you have to be right that the Dow is not going to swing 200pips against you at least 15 times out of 16 !

You've seen how news can cause the Dow to drop 200+, how does your "System" predict the news? does it have a Crystal Ball?!

I quite expect you to finish 10 days in profit, but you will lose it all not long after...!
Click to expand...

Hi Leonarda

I got out with 10 pips profit as it worked out, but that was because of:

1. I had an idea the Dow would bounce off 10100.
2. The Dow had gapped up at 10048 at 8.31pm. I am always aware that the market tends to come back to fill gaps (that in itself is a worthwhile strategy to follow).

It is now 9.25 pm and the Dow is at 10054, so was my closing trade a good one or not?

Regards
Mobanded
 
mobanded said:
Hi Leonarda

I got out with 10 pips profit as it worked out, but that was because of:

1. I had an idea the Dow would bounce off 10100.
2. The Dow had gapped up at 10048 at 8.31pm. I am always aware that the market tends to come back to fill gaps (that in itself is a worthwhile strategy to follow).

It is now 9.25 pm and the Dow is at 10054, so was my closing trade a good one or not?

Regards
Mobanded
Click to expand...

maybe, maybe not. I suspect the Dow could move intra-day well into the 10100s tomorrow, based on a low bounce.
 
leonarda said:
maybe, maybe not. I suspect the Dow could move intra-day well into the 10100s tomorrow, based on a low bounce.
Click to expand...

Hi leonarda

I hope you are right because I much prefer going Long to going Short. My trades will be dictated by what my indicator suggests early tomorrow morning.

Regards
Mobanded
 
mobanded said:
Hi Ross Spur

I did not look at the stop position on my trade. What is the point in putting pressure on myself.

My faith in my system has, once again, turned out to be correct because I have closed at a profit.

Regards
Mobanded
Click to expand...

'What is the point in putting pressure on myself'... But isn't that exactly what you're doing with your method of trading?
 
Hi

I begin Day 5 with a £620/62 pips profit.

The indicator for today is to buy the Dow. Accordingly I go Long for £10 at 10084

Mobanded

Sorrry, time was 09.02pm
 
mobanded said:
Hi Hoggums

I think I get what you are saying but not 100% certain.

Mobanded
Click to expand...

You know those people who watch F1 just to see the accidents?

btw, Mob, did you take the profit at around 10100? At least that would have been consistent.
 
mobanded said:
Hi Ross Spur

Now I get it.

Have you noticed the DOW gapped down at 11.47 am to 1084. If I wasn't already long I would be now.

Mobanded
Click to expand...

I don't think much will happen until the news at 1.30, unless people want to get out in case Dow crashes on 500K+ unemployment. Sadly, I'm going to miss the fun.
 
This is confirm I have sold the Dow at 10120 at 13.34.
Mobanded

Further information:

I have made a profit of £380/38 pips on this trade. Now, I will stay out of the market until the Dow opens at 2.30pm UK time and review my options thereafter. Based on my indicator I will make only Long trades, if any.
Mobanded

[/COLOR]
 
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I have sold the Dow at 10086 at 15.02 with about £360/36 points profit
Mobanded

added information: this market is moving up and down at a nice pace and I am happy to jump in and out for quick profits; always going Long..
 
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