firewalker

Yeah I'm here Locked and loaded

For all you oil traders out there...: http://thestar.com.my/news/story.asp?file=/2008/6/3/nation/20080603103924&sec=nation

Spotted this elsewhere:

Well done. That was a superb entry! Not to mention you had to held through all the sideways movement... that sure lasted long.

Depends on where you have the entry ... Your way of drawing lines is interesting as they aren't really "trend"-lines... I mean you reverse direction on each and every swing. Take for example blue dot = entry, purple = exit. That's breakeven or a small loss... How do you draw a line? You need at least two points to draw a line. But by then some of the candles are already formed, no? The way you draw those lines is probably something you manage to do intuitively. But you could for example also see it this way:

ehm, nope! that's against regulations why? well I think a move lower is long overdue...

DOW short 12450, stop 470.

I see you added a new feature below our names? Thinking of what to put there

No argument there. Today wasn't one of these "runaway cases" and you had the opportunity to get along nice and early. "The green light" I mentioned was indeed the rejection. I wouldn't wait for more confirmation, because that would mean a wider stop.

It wouldn't be the first time this kind of move starts 10-15 minutes before the market opens. So what do you do? Jump the gun and take the entry because price is sitting there ready to go, or wait for the green light, risking jumping aboard a moving train? We Europeans have the luxury that US markets open mid-afternoon, but I guess you have to get up early But I agree, this was a no-brainer entry.

:shocked: A lot of the time trend can be seen by the naked eye though, but trendlines are a nice way of following momentum. I definitely wouldn't call them a hindrance though, unless you use them for something which they are not intended for?

exit other half at 495 for +90

exit half at 515 for +70

stop moved to 540.

Why, do you think they hold less importance?

stop moved to 565.

I've already started :o

[15:34:56] firewalker: dow short 12585 posted in the chatroom

Almost 10000 diggs, and one of the most viewed items in last 7 days, it's from a Belgian group: http://ipower.ning.com/netneutrality The woman in the picture is most famous for ehm... her "interest" in the national elections some time ago, with a notorious "offer" if she got elected: http://blog.wired.com/photos/uncategorized/2007/05/21/picture_39.jpg Ah, and this one is for Wasp ... "save the internet" people: http://dontstayvirgin.movielol.org/main3.php enjoy! and now back to serious business

:o only serious people here wasp, you can't start another of those joke threads. It just won't work Of course I could starting posting youtube videos of "Belgian finest"... (and I'm not talking about the chocolates, the fries nor the beer for that matter

Excellent post imo. I think a lot of people are looking for 'opinions', while sharing observations in itself can also be very beneficial. Here are couple of personal observations on the charts you posted: It shows a slightly weaker DOW.

I look at hourly and daily charts too... and sometimes I wonder whether swing trading can yield to better profits, but I quickly realize it would be difficult to do so, especially since there are less opportunities. If you have 10 trades a year or 100 or 1000, there are more swings to catch and short term trends to ride. Ofcourse you don't want to get into every little tiny retracement. Basic problem I had this week, was that there was no or little follow through to the downside. I've attached some red dots, I don't know all my entries by head but these should be close. After the trendline from 13130 to 12450 broke, I should have realized it might consolidate or retrace a portion of that move. Unfortunately I was too focused on a trend continuation that I shorted each swing up, instead of taking the long at 12450 when there was no Lower low. Beside, the level had been support from in the past. I'll write some more of this in my blog, because this thread isn't about me. But this is one of those moves where if you shorted from the high, stayed in till the TL broke, you could've bagged about 600 points. With intraday trading (which means close out at the EOD), you've got no other option than to re-enter each day. But only in an ideal environment you get that entry where you want it, and sometimes price runs of without you...

Enough of this low volume, sideways, choppy, no good trading opportunity screen-staring for me! Have a good weekend and cu all on Monday!

just please get us of out of this 630-670 range

that was one hell of an entry there gilligullu... :applaud: