Phil Mibbutz

Can't see why the DAX is holding up with the FTSE hitting new lows?

Dax bounced off 6000 once but then broke through. Not a good sign...

Very wise. Three failures of what I saw as support levels now. Lucky to get out with a slight loss.

Out for +10. Try again tomorrow when brain working again, hopefully.

Final go. Long 025.

-12, but could've been worse (or better if I hadn't dithered).

Long 57, 80 target.

Closed rest 037.

Half out 55.

Short 069.

Good result, even if wasn't quite following the plan. Meanwhile, I've managed to leave about 60pts on the table with my short(s) so far.

Out for a sensible +10. 11000 is a battleground!

Short again 010.

That was clever - thought it had tripped 970 limit, but it hadn't, so ended up panicking out with +5. :doh:

Short 990.

Very brave. Looking at the longer timeframes, 10600-ish might be the next stop down?

Presumably these are long-term trades, Foale?

The way things are going, 6000 looks like a good place to go long on the DAX.

That's been my general view since last year when the Dow was at 14000. Maybe 10,000 is the only real support level?

Just seen what's happened to my JSP shares today, so I need all the points I can get! Doubt if 11,000 will be the ceiling. As I was making trades 8 hours out of synch with the market yesterday, I expect a slight rally now.

I certainly don't think that discretionary trades are foolproof, Foale! If only:) Everyone's dream would be some sort of robot that you switch on and leave running, and plenty have been made that work perfectly on back-testing. Problem is that the moment they go live there's absolutely no guarantee they'll ever generate a profit again. Not sure about TL, but there's been plenty on the subject over at T2W. re. the comment about stopping trading at rangebound times, you probably need a human to decide that bit at least?

Low 988 on fut, about 11003 on Dow. My mistake today was thinking that the news about Fannie and Freddie would delude people into a positive mood for longer. Do you mean automated entry based on indicators? If so, be careful out there. IMHO (arrived at after years of losing), trades have to be based on some sort of discretionary system.

half out at 40. 5 locked in on the rest.

Short 58. Think it might have another go at 11000.

I can sense a day of stupid trades, so out for +20.