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firewalker

Live Indices Trades

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

 

 

think you miht be right....my 60 min dax said SELL at 6293...I didnt do it...as had a s/t cash long at the time now....6212 !!

 

Have to learn to divorce the 2 time frames...

Be better with an automated entry for the longer view....

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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.

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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.

 

Discretionary not so fool proof also ...

 

Actually although I dont do automated trades...several of the best traders I know do....but its not a black box....

 

Tends to work in this sequence....

 

a) start with a successful trader...who has found a way to trade that suits him...one based on a set of rules that he follows

 

b) sort those trading rules into some sort of algorithm...but one that can can be written... ie the moving average x blah blah blah... They have to be rules that the trader uses...

 

c) get a coder to incorporate those into either the trading software or chart system that you use... eSignal allows this...

 

d) Trust it !!

 

Of course your "system" has to be one that can be written as a set of rules...and that system has to work...

 

How you present the "result" a key feature in its success I have found..

I know index traders/ forex traders and shares traders who use these types of systems.... Some give a signal of some sort...one has gone a step further and it trades for him... brave man... btw this man took 250 points off the Dow on Friday after 7:30 pm!

 

Oh and you need something that STOPS you trading in those rangebound / whipsaw times...

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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.

 

Discretionary not so fool proof also ...

 

Actually although I dont do automated trades...several of the best traders I know do....but its not a black box....

 

Tends to work in this sequence....

 

a) start with a successful trader...who has found a way to trade that suits him...one based on a set of rules that he follows

 

b) sort those trading rules into some sort of algorithm...but one that can can be written... ie the moving average x blah blah blah... They have to be rules that the trader uses...

 

c) get a coder to incorporate those into either the trading software or chart system that you use... eSignal allows this...

 

d) Trust it !!

 

Of course your "system" has to be one that can be written as a set of rules...and that system has to work...

 

How you present the "result" a key feature in its success I have found..

I know index traders/ forex traders and shares traders who use these types of systems.... Some give a signal of some sort...one has gone a step further and it trades for him... brave man... btw this man took 250 points off the Dow on Friday after 7:30 pm!

 

Oh and you need something that STOPS you trading in those rangebound / whipsaw times...

 

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?

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Going to give you guys a points headstart today...as its "Year 2 play" this morning..

 

Is 11,000 Dow now a ceiling?

 

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.:)

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Remeber the dow has not broken 11,000 yet in normal market hours...to say its going to be...under 10890 loooks a bit steep for its initial opening...

 

Of course the main play this am was down...but I was not here for that !

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Presumably these are long-term trades, Foale?

 

Not if the Dow hits 11100 later on... lol

 

However...I do expect to be holding them a few days

 

I did cash trades for today..and contract trades for "gravy tomorrow"

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