US Indices intraday trading - JUNE 2003

SUNSEEKER

Established member
nah, Paul, this is dead,,,,better off going for some fresh air, or whatever you guys do in Lincoln which by the way I have no idea where is.....

:))))))))))))))))))
 

Paddington

Junior member
Tom,
why do you think likely manipulation later this week? I can understand it today being last day of quarter, but why the rest of the week?
 

Trader333

Moderator
Well it was close as you say but there you go and yes it is Arnie.


Paul
 

SUNSEEKER

Established member
hmm, that prolly a beer expense on my account! blast, can't trust that sun/moon anymore, let alone the market makers
 

SUNSEEKER

Established member
volume wise it is quite significant that the second largest spike is the closing bar....it does not bode well for tomoorw
 

SUNSEEKER

Established member
Paddington, have a look at the beginning of july last year and the year before..As I said in the morning update, it does not make sense, but they may have a reason.....

hope this helps...I know one I can ask....but asnwer will have to wait til manjane

good evening to you all
 

Trader333

Moderator
Tom,

I seem to remember you saying you're from Bournemouth so if I ever come down that way we will have to go for that beer ?

Cheers


Paul
 

Paddington

Junior member
OK had a look. So in 2001 the mkt went up on 1/7 but then down 4 of next 5 days. Last year seemed to go up strongly on the 3rd. Not sure I see alot of similiarity between the two - perhaps missing something here.

This year I would agree that there could be some short term support around 9000 on the dow, but generically would expect the mkt to continuue to trend down if this has been a major top (which I for one do believe).

As ever time and the markets will tell........
goodnight
pad
 

a320

Established member
Paul how's the level 2 coming along?


Cheer a320.
 

SUNSEEKER

Established member
ARNIE, totally, come to Bournemouth,and the beer is on me...

i forgot to mention something in my morning update....Imagine you are a hedge fund, then you will want to market down prices to make that look the best possible....anyway just a thought....

I just noticed i am now a senior member...how the heck did that happen.????

I also dont quite understand that score thingy....I went and looked at my own...and I accidently think I rated myself as absolutely crap.....well...someones got to do it.....


NOW, Good night...and sllep tight
 

a320

Established member
Last time I asked you were still in the process of paper trading Nas level 2, just wondering how its going? :D


Cheers a320.
 

jonnyy40

Experienced member
Sorry Paul,I thought the picture was the guy who played Robo-Cop!So when I said there wasn't much human to you - that was the reason!
 

Trader333

Moderator
a320,

I remember now, I am probably a little unusual in that I am never in a rush to trade until I am happy with all aspects of it. I paper traded Level II but realised that I needed more knowledge than I had so far attained to be successful and there was also the whole issue of which broker and which Level II platform to use. In addition to this I also had some consultancy work which slowed me down on the trading progress a little. I have more knowledge and experience now and so I am back to paper trading which is getting better but I am still not where I feel I need to be to commit myself with cash. That said I would only be trading 100 shares at a time to start with and with very tight stops so my risk per point move would be only $1 and it would be unlikely that I would risk much more than around 12c per trade ($12) which is not too bad.

In the next 2 weeks I am hoping to be ready but this will all be down to how successful I am, or otherwise, with daily paper trades. I find it very different to the trading of futures and I want to be sure (as far as I can) that I am stacking the odds as much in my favour as possible. I still find that I am learning everyday and I am always reading up and gaining new insights and in that respect I think that it can only be of benefit.

The structure and nature of the US markets and, in particular, the Nasdaq is quite complex in my view. You have all sorts of things that you have to understand from knowing why a move in the futures will cause a move in stock prices, to overall market strength, sector strength, Tier 1 generals and their influence, which indicators lead, The Ax and their games, time of day, economic news, chart patterns etc.

There is a lot to learn and understand and when the market is live you have to have an almost spatial awareness in many cases to know the likely probability of a trade being successful if you enter it. Once in the trade I have found that watching the level II screen makes the most sense to me as you can quickly see if anything is likely to make the trade successful or not.

So I am getting there but I am in no rush to commit my money to find out that I am not ready yet. Others may be much quicker than myself at this but I am a brutal realist with myself and I will know when it is time to trade for real.

Cheers


Paul
 

Car Key Boi

Well-known member
yuo know something guys, i have the utmost respect for technicians, it truly is a mathematical art form and THE most valuable tool in a trader's tool box. TA tells yuo what direction the market is likely to head, when to get in the trade and when to get out. If a trader can master those three variables, he's set for life

BUT

i only believe in TA in the short to medium term

some of yuo guys are talking about what the market was doing in 2001. IMO what happened in July 2001 will have NO bearing on what is likely to happen in July 2003, the same way the Iraq War affected market of March 2003 will have no relation to the market of March 2004 (assuming we don't have a Gulf 3)

sorry if i'm coming across as a complete tard, i know yuo TA guys are very religious about yuor charts, i mean no offence. I'm always willing to learn new things which is why i take the time to read yuor posts, which i find, for the most part, enjoyable and very informative
 
 
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