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Salty,
Great bit of traiding, as long as you keep making money then I would say your plan is working.
I dont really post my actual entries or exits but I took +22 points on cable earlier as well as 50 on Crude oil.
Day’s target done so I stepped away, but I was itching to short the ES ramp to 1697 but resisted as normally over trading leads to me loseing my days gain and some more.
I say keep doing what you’r doing.
Wow back to ES 1687 and we have some serious divergence on RSI 14 on the hourly from 23rd Sep to present.
So want to long this on the divergence. any thoughts?
Well done vrost. Two good ideas there:-
1. Winning trades – always a good idea ! I noted your comment on oil earlier a good heads up even if I don’t often dabble in commodities.
2. Having a daily target and stepping away. I TRY to do the same. Everything you can do to take stress and emotion from the trades is good.I was looking at S and P / ES. I think that the POMO effect may have caused it to go up a bit. See the amount of liquidity being pumped in from the horses mouth here
http://www.newyorkfed.org/markets/pomo/display/index.cfm?showmore=1&opertype=orig
that link shows the last two weeks purchases of securities, todays programme is somewhere on the same site. Note the timing and the corresponding rises in the markets.
The ongoing negotiations about allowing an increase in US govt debt could be a real mover. That and ending of taper doesn’t offer support for much higher markets soon.
There is also the possibility of a credit rating downgrade for Italy this weekend to consider. Of course there is always the question of what the markets are already accounting for.
With so many ways for official and unofficial manipulation and leaking of data (like the decision not to taper last week) us little guys have to keep our wits about us and make capital preservation paramount without being to afraid to take a position.
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
NOTICE
This is just to say that there is a chance we may get some downtime and the pad may go down
I am in the process of moving the site to new webhosts.
Not sure if it will happen now, in 1 hour or overnight.
Plan your trade, trade your plan!
Well that was certainly a KP that worked!
We went down in style. Apologies for the outage and thank you for your patience.
All the web work is now complete apart from the odd bug which may creep up over use.
Good luck all today and see you later.
Those that are subscribed to email alerts will now now the site is back
Plan your trade, trade your plan!
Thanks gecko. A lot of money being put into the market today. I think I will be going long 1695 ish cash SP500 hoping to be out early. 3 points will do me, but stop would have to be below the support identified at 1690 cash so weighing up if it is worth it.
May just be a scalping morning and worry free weekend.Not adding to AUD/JPY long yet. It is underwater now but was always a longer term position.
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
buying at 1691.6 cash (ooh capital spreads) for +/- 4 points
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
adding to AUD/JPY at 91.67 avge entry now 92. Hard stop placed trade idea is wrong if goes below 90.80 big risk don’t expect anyone to follow without own reasoning.
edited AUD/USD to AUD/JPY
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
Glad to have taken profit on yesterdays short cable position. USD looking weak at the moment. 2 hourly closes above 1.6120 for cable could open up 1.63. Anybody else see that ?
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
Well done Salty on taking profit.
I played GBP/USD a few times at 1.5530 and 1.5730. After that I deem it to be in an uptrend for whatever reason and have stood aside.
For me just as well really.
Plan your trade, trade your plan!
Well my sP500 stop survived the open of US market but not for long. The anticipation of FED money coming into the markets did not counter the down trend – I think that Khalsa will have been happy as I suspect he was short. At least loss was limited and made up for by gains yesterday. So that is me done for this week. Good luck and safe trading to anyone reading.
Not sure if this counts as a support break yet but beginning to look like two levels gone now.
Please feel free to trade the opposite to me - but whatever take responsibility for yourself and above all DYOR !
Thanks and you too Salty.
Indeed happy today as 10 points on S&P in the coffers.
Lets see if we now get an early low or it rallies
Plan your trade, trade your plan!
Intraday wise … Resistance now is 1686/7 and then 1692 before gap fill at 1694.25 Support is at 1680.25 and then 1675.
I posted this nearer open.
We just hit 1680 as a low hence my “early low” comment.
Resistance to hold for bears is now 1685/6 area
Plan your trade, trade your plan!
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