The best system for the Dow and not an indicator in site.

Hoggums said:
Will you go long or short on 4/2 ?
Click to expand...

Hi Hoggums,

It depends what the market does on the 4/2 as the time of the trade is after the phsical 22.32pm to be exact. If it is positive I will be short, If negitive I will be long.

Regards Steel :)
 
I can't really get my head around this, it would seem that you could toss a coin and get the same result. Which could still be a profitable system as long as you used correct money management and had a good system for exiting your trades. After all, entry is only a small part of any trade.

Seems that you missed a profitable trade this week, as the Dow did bounce up to 8160. So your long position could have turned profitable if you had a bigger stop loss. But how do you calculate a stop loss based on yor system? 100 points just seems arbitrary.
 
PokerBrat said:
I can't really get my head around this, it would seem that you could toss a coin and get the same result. Which could still be a profitable system as long as you used correct money management and had a good system for exiting your trades. After all, entry is only a small part of any trade.

Seems that you missed a profitable trade this week, as the Dow did bounce up to 8160. So your long position could have turned profitable if you had a bigger stop loss. But how do you calculate a stop loss based on yor system? 100 points just seems arbitrary.
Click to expand...

Hi PokerBrat
I think if you toss a coin over a long period you should get 50/50 in theory and then there is the direction and what day do you trade or just trade every day. With all the testing that I have done 70% over time is the results that I'm seeing for a change in direction.
I used a 120point stop when I started and that worked when the market was at 14000-11000, I believed 100 points would be OK with the market at 8000 but may have to reconsider, as i was stopped last night before the move up.

Regards Steel:)
 
Hi

The second date has past and I got the direction correct but was stoped at 100 points. So as we go forward 200 points down at the moment.

Looking to the next date on the 11/2/09


Regards Steel
 
Next Date

Hi
We have my next date coming up on the 11/02/09 at 13.00 this can cause a spike reversal as it is in the middle of the session. So I will advise direction as we go.

The last date was successful in the direction but I was stoped by about 10 points. No fun in that.

Regards Steel
 
:confused: Not looking good at the moment DJI futures are making new lows since Nov.
 
So I guess you were stopped out again before the market rallied +200 pts to 7930?

You might wish to take a look at the Dow 2009 thread. People there are picking up 100s of points a day riding the current volatility between support and resistance levels.

I don't think your system is doing you any favours at the moment.
 
steel12358 said:
Hi

These are the dates and times for the next month, All in NEW YORK USA Time

31/01/09 3.46am

04/02/09 22.32pm

11/02/09 13.02pm

17/02/09 3.24am

25/02/09 16.09pm

01/03/09 17.00pm

Happy to answer questions that you may have. :)

This is not trading advice for education only

Regards Steel
Click to expand...

is this thread still running?
 
400 points

Hoggums said:
DOH! -400 points here we come.....
Click to expand...

Hi Hoggums,

Someone said it is impossible to tell the furture in an earlier post on this thread,
well you have done it. :clap:
We are 400 points down and I think you were about 2 hours ahead of time in you forecast.

Steel
 
I actually think your long is correct today - however I believe this is just a technical bounce which will falter around 7700.

The DJI transportation index is looking very bearish and this is often a leading indicator.
 
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