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firewalker

Live Indices Trades

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Lets see if any of the rise was Oil assisted...its up...$4.5 from its lows today...

heading up to $131 at the high for the day...

 

wow I didn't realize it was that volatile lately

the papers were all over it when it dropped 4$, they only just got their articles printed :o

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FW agree Dow target...12465 still looks possible...

 

It looks like we took a small 'detour' back to 560-570...

 

but we still have 2 hours left before the finish line!

 

price seems stuck between 510-570 though

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good call, but what's so special about 500 that I'm not seeing?

 

Nothing magical, but I reckon all the big round numbers tend to have more psychological significance, and 12500 had been a pivotal or 'congestion' area before. If I'd been watching the 1m chart live I might also have been encouraged by a pin bar and volume spike.

With hindsight, I'm sure I could have drawn some lines that would provide all sorts of confirmation, too, but isn't that always the case!

btw. Im curious that you seem to be using 10pt stops recently. Is this a permanent plan, or does it depend on circumstances?

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Nothing magical, but I reckon all the big round numbers tend to have more psychological significance, and 12500 had been a pivotal or 'congestion' area before. If I'd been watching the 1m chart live I might also have been encouraged by a pin bar and volume spike.

With hindsight, I'm sure I could have drawn some lines that would provide all sorts of confirmation, too, but isn't that always the case!

btw. Im curious that you seem to be using 10pt stops recently. Is this a permanent plan, or does it depend on circumstances?

 

I never paid much attention to round numbers per se... but then again 450 was nice yesterday.

 

Ah someone noticed my revised 'tight stop' strategy :)

Yes, I put my stops closer than 20 points now. Primarily because I only take the entry if I can get it where I want it. If not, I usually skip the trade. Otoh, I must be careful not getting stopped out for 1 or 2 ticks.

 

Another reason is that lately there have been more 100-150 point range days than 300-400 that we had couple of weeks ago. That warrants a tighter stop imo, volatility has cooled down a bit.

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I never paid much attention to round numbers per se... but then again 450 was nice yesterday.

 

Ah someone noticed my revised 'tight stop' strategy :)

Yes, I put my stops closer than 20 points now. Primarily because I only take the entry if I can get it where I want it. If not, I usually skip the trade. Otoh, I must be careful not getting stopped out for 1 or 2 ticks.

 

Another reason is that lately there have been more 100-150 point range days than 300-400 that we had couple of weeks ago. That warrants a tighter stop imo, volatility has cooled down a bit.

 

I know that you're trading with a proper futures broker, but with spread betting 12-15pt is really the tightest initial stop you can use on their contrived 'Dow Cash' markets. Having said that, as I've been doing dismally on indices recently.

The only good news for me today was going long on Brent crude at 127 and being 350 pips up now, with 250 locked in, a trade placed after about a minute squinting at a chart!

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I know that you're trading with a proper futures broker, but with spread betting 12-15pt is really the tightest initial stop you can use on their contrived 'Dow Cash' markets. Having said that, as I've been doing dismally on indices recently.

The only good news for me today was going long on Brent crude at 127 and being 350 pips up now, with 250 locked in, a trade placed after about a minute squinting at a chart!

 

yes oil has been volatile, so I've heard

well done :applaud:

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Nice to see everybody so active here! This forum is almost running 24/7. :)

 

Thanks for contributing Soultrader, how refreshing compared to our previous site manager who didn't seem interested in 'trading'!

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