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firewalker

Live Indices Trades

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The move down from 928 to 885 was the left shoulder imo and now we are forming the head. Will look for weakness around 950-960 (fib target)

 

Are you also paying attention to other markets?

 

For example, the strength in the NQ in comparison to the relative weakness of the ES?

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I am but have no idea how to interpret the lack of correlation.

Any ideas? One leads and the other either follows or not?

 

Lately the NQ has been dragging other markets along (up)...

 

I probably should've reversed my first short. Would've had me trading on the right side. Didn't except such a U-turn.

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Lately the NQ has been dragging other markets along (up)...

 

I probably should've reversed my first short. Would've had me trading on the right side. Didn't except such a U-turn.

 

Yes i have noticed that, the index seems to be much stronger than the ES or Dow.

I usually keep an eye on FX and Commodities. Fall in oil, gold and euro = markets up = $ up

 

I even had a long signal just under 900 but chose to ignore it as my bias was so set in markets going down.

Edited by smbtnt
addendum

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I even had a long signal just under 900 but chose to ignore it as my bias was so set in markets going down.

 

Hey, I was going to say that!

 

Very true. I should really clear my head of any bias too. There are higher highs and higher lows all along the way.

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Hey, I was going to say that!

 

Very true. I should really clear my head of any bias too. There are higher highs and higher lows all along the way.

 

yes biases get in the way of good signals.

I had a short signal 952 but ignored it as we are moving up and I really do not want to be heroic in calling the top here.

Would prefer reversal at 980-990.

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Had a mental day at work.... So did not post any trades...

 

Bad day.... Kept getting stopped out, down 70 pts for the day.....

 

Hopefully can catch up some points tonight.

 

Sorry to hear that, I'm sure you'll get it back soon!

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Sorry to hear that, I'm sure you'll get it back soon!

 

Thanks FW, I think the biggest problem was I set limits that were too high, and I was not able to look at the computer all the time today. It got near to the limit and then went the other way.....:angry:

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Thanks FW, I think the biggest problem was I set limits that were too high, and I was not able to look at the computer all the time today. It got near to the limit and then went the other way.....:angry:

 

I think you should only take your eye of a trade, once you already took some profits and have a tight stop on the remaining part.

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Thanks FW, I think the biggest problem was I set limits that were too high, and I was not able to look at the computer all the time today. It got near to the limit and then went the other way.....:angry:

 

I know how you feel... one of those days... I keep switching between two pairs and whichever I go for stalls and the other trends nicely... sods law!

 

Fuggedaboudit as an Italian gangster would say... each new trade is the first trade of the rest of your career! :\;)

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I think you should only take your eye of a trade, once you already took some profits and have a tight stop on the remaining part.

 

I know how you feel... one of those days... I keep switching between two pairs and whichever I go for stalls and the other trends nicely... sods law!

 

Fuggedaboudit as an Italian gangster would say... each new trade is the first trade of the rest of your career! :\;)

 

thanks guys, I think it was mostly my fault for not sitting on my hands when I knew I have a busy day, and a little bit of bad luck.... Always just a few points from my limit........

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well guys, this is just my opinion so please ignore this, I feel a mammoth fall is coming, my gut is saying. This bullsh*t up move has screwed me right up. You see there are no stops as you can see from the left side of you chart on the hourly so price can move up quite freely without much combat. However I feel the shorts are in place even though we are stlll rising. I am hoping the move down will make up for today ( +25 and -9). Now if she does not tank then believe you me I want to be on it from 980.

 

Damn this looks like it wants to go now...

 

Patience and waiting for a signal.......

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after waiting so long I just closed it for zip!

what a day! twice the effort, but not half the result of yesterday :/

 

Let it go FW, you'll learn to trade eventually ;)

 

(that's for your comment on my thread!)

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I am reluctant to trade any more today... I am well up mostly on Dax...and more afraid of giving it back...than bagging a few extra points....

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Let it go FW, you'll learn to trade eventually ;)

 

(that's for your comment on my thread!)

 

Actually, I'm hoping to improve here. My main problem is having a bias. Yesterday I had a long bias, which prevented me from taking shorts, which was correct.

 

Today I had short bias but price came back and actually made a higher low and not much selling volume. I was too focused on pinpointing my short that I didn't realize this at the time, until it was too late.

 

Sorry, this is probably stuff for my blog, but I thought I'd let you know so you get some insight in my psyche :\

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I am reluctant to trade any more today... I am well up mostly on Dax...and more afraid of giving it back...than bagging a few extra points....

 

Considering how many points you normally average on the DAX, I think you owed yourself a break (and a beer!) :)

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waiting for 950 to short.

 

i should say waiting for 950 for a reaction. But this just does not look like it wants to go down, I am not going to force this.

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