Carpe diem: Intraday tactics for Dax and Dow

Hit. -3

Stop repaid with the interest... and I call it a day. Good continuation to all of you.

Oh wow. Just read China pumped $120bn USD into the markets early this morning.

Sitting on the sidelines for now. Doesn’t make sense to play until the next big drop.

Second quote.
Richard D. Wyckoff - Course on Charting - End of the Introduction

"I, therefore, claim that:
You need never read anything on the financial page of your newspaper
except the table of stock prices and volumes.
You need pay no attention to the news, earnings, dividend rates or statements of corporations.
You need never study the financial or the business situation.
You need not understand railroad or industrial statistics, the money market, the crop situation, the bank statements, foreign trade
or the political situation.
You can absolutely ignore all the thousands of tips, rumors, reports and especially the so-called inside information that flood Wall Street.
You can discard all of these completely and finally.
UNLESS YOU DO THIS.. YOU WILL BE UNABLE TO GET THE BEST RESULTS FROM YOUR MARKET OPERATIONS."

After all that said you can always do as you like and lose as you like But now you (all) have read the lessons.

There are successful traders that don’t look at charts, there are successful traders that only look at charts.

Ultimately the Dow has one direction: up. So if you choose to buy the dips you can still be very successful with the right risk management. Everyone knows this.

Its always good to have an eye on the news. Institutions use this as an excuse to spread fear. Sentiment is a good tool.

About my two fundamental and basic quotes.

Charles Henry Dow is the founder of the Wall Street Journal. Great trader, he invented the Dow Jones Average and developed the famous Theory.
Richard Demille Wyckoff (1873-1934) is one of the forefathers of the modern scientific way of trading.
Continuing as a trader and educator in the stock, commodity and bond markets throughout the early 1900s, Wyckoff was curious about the logic behind market & price action. Through conversations, interviews and research of the successful traders of his time, Wyckoff augmented and documented the methodology he traded and taught. Wyckoff worked with and studied them all, himself, Jesse Livermore, W.D. Gann, James R. Keene, J.P. Morgan, and many other large operators of his days.

To make a long, long story short: Prices are going places to do things! ROFL
If you, my reader, are - on the contrary - a supporter of the Random Walk Theory, put myself on your ignoring list and don't waste your time reading my posts.
You wouldn't understand anything.

Do you (all) know who Nick Leeson was?
He was averaging down buying the dips and he lost a whole bank! The Barings Bank, one of the most prestigious in England!
Everyone knows this.

Better to avoid generalizations. And just trade.

Absolutely! And I'm having a good time riding those waves

and for everyone else could you time them with this kind of accuracy if it were completely random I doubt it and believe me those line are far from random.

ps: self note to myself exit could be improved and now back to surfing enjoy your ride Franco!

Banking some! How to make money in a tight range. (If you are on the right side of the fence!)
End of demonstration.

The poor guy bought all the way down in a downtrend.

A different story to the current direction of the Dow...

That said I think you can play both sides of the Dax and Dow right now. Much volatility and not a lot of room at the top without a big retracement to the mean.

Tying into your post on Dow, I always think prior to execution: is this ‘cheap to buy’ or ‘expensive to sell’. You want to take your trade at wholesale prices, not retail.

If you buy the Dow today, you aren’t getting a discount and you are buying at retail price.

Wrong!
He bought into something that THEN became a downtrend.
Initially Leeson bought a double bottom and he had the first leg up!
Then he began to buy in the first correction!
All the people there were thinking "Hey, he is buying like that, he surely knows something!"
Then came the waves. Puff. Dead hero.

But like I said, end of the demonstration.
Who wants to understand has already understood.
Bye.
Enjoy your trading and stay green.
It was a pleasure to stay here for a while again.

Well, the Nikkei did rise over time so he wasn’t necessarily wrong with his long term conviction. Equities will only expand.

It was more a lesson of pissing against the tide, not managing risk and him being married to the trade.

Glad to have you here Jupiter, hope you come back soon.

Yes sure. Waiting for the Nikkei to rise, Neeson has consumed all the money of an entire bank.
Don't miss the main point in this story... he was a man caught in a situation.
Meditate on this. His Ego killed his accounts.
Sometimes even with all the money of a bank one will lose!
And one time could be deadly enough!

Keynes:
"In the long run we are all dead."
“Markets can stay irrational longer than you can stay solvent.”
Livermore:
"No man can beat the Market!"
Etcetera Etcetera... the list of Wall Sreet proverbs and truisms is very long.

Haha - Jupiter I don’t disagree with you.

Buying dips in an uptrend vs buying dips in a downtrend is very different however. Yes we all need to be adaptable to the market.

thx for your concerns. all is well, closed every open long on dow with a nice "little" profit just was taking time for better things than trading, that´s all.

crazy-hour: long 200 @29.278,16

long 200 @29.271,62

long 200 @29.268,54

long 200 @29.268,63

long 200 q29.253,93