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Lee Shepherd
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I actively track the dow and am trained to trade it successfully but all resources (mind and money) has been invested solely into S&P500 and Ftse100. This is my take on dow daily graph. From what I see we could have a play around 12000 before any significant move. Would expect by it's own play that we'll see higher end of 11900 before returning back upward. If it closes below 11800 then for the time since 10th march 08 (intraday low of 11730) we could see the first signs of a bear market. Dow has tested a double top on days 2nd and 19th May 08 before sliding back down. This has now given us the top end range or/and future resistance. Now we have to test and confirm this bottom. Support line is not in conjuction with anything you can see but is instead a factor of growth since the lows on 10th March and 21st Jan 08 for closes, I have drawn in a crude line as measure of this expected growth. If this breaks then it's highly likely we'll see more downside to a possible lower low. Sorry I cannot be of more assistance on an intraday basis. Graph attached to show example.
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Great trading Firewalker.
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Yo Dinos, Have a good one matey, catch you on skype.
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Well you sound a bit touchy on your position so apologies for the obvious upset I've bought upon you. You can of course see my trades on my blog if you so wish. Like I said, just a thought, you've asked me questions and I thought it went both ways, My bad, obviously not.
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Just a thought! As the markets were clearly down (and still seemingly that way) I'm sat here wondering why you didn't close off your Long, even if you believe the bigger picture to be on the upside, why not close it off taking small loss then buy back in when it reverses?
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Hi foale, My positioning of the week is in my blog on T2W, I still post it there since moving from traderchat.com for all to see and is updated weekly (usually Saturdays). Currently I'm undertraded and looking for a firm entry so trading is a little light at present. My current trading is descretionary until I find that entry.
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Hi firewalker, Was never meant as a bash as such, more shock and horror from a good trader as yourself. I think your last sentence possibly sums up this trade.
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Bloody hell firewalker, What are you doing, I watched this one since I read your PM, your head is somewhere else today, you're not trading as usual. That should have been a scratch at worst.
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Introduce Yourself Here - Don't Be Shy!!
Lee Shepherd replied to trading4life's topic in Beginners Forum
Hi, I have had this site recommended to me by a new member and friend from other site by the name of Firewalker, who has informed me that this is a no nonsense site and has many traders. I come from trade2win.com and prior to that traderchat.com to which I am under the same name for both. My posts have slowly got less and less at trade2win due to the amount of childish chit chat and derailment of posts and although I will be looking to be an active member here, my blog at trade2win there will remain updated. I trade indices only (currently S&P500 and Ftse100) but also look briefly at other instruments like gold,oil and currency. I am mostly a fundamental trader who trades long term positions on the futures market with the use of technicals and smaller time frames (1,2,3,5 mins) for entries/exits. It wouldn't be unusual for me to hold a certain position (long/short) for many months before reversing. Although I look at the longer picture for trades I will trade on an intraday basis and my weekly closes amount to around 30 contracts for several hundred points. I am a consistant trader with a track record spanning over 4 years for indices and over a decade for stocks. Such results will be posted on here using screenshots and explanations for it may be of use to others. Prior results can be seen by looking up my name on trade2win.com and traderchat.com. I hope that I will meet many interesting traders on here that I could share with and learn from. I look forward to learning new experiences and strategies, for which there are many. Thank you for welcoming me to this site.