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Day Trading for a Living

  • #521
  • Jul 11, 2012 7:31am Jul 11, 2012 7:31am
Quoting GDR3k
Looking at the charts, these index's seem to move in one direction a fair amount of pips unlike any of that currency clutter whipsaw madness, looking at the 15m and 30m timeframes and above, when the price stalls and makes some sort of reversal bar at S/R, be it pin bar, engulfing of whatever, its usually followed by a big move, where as with currencys, thats usually a trap and you get screwed, lol

I think the old trusty currencys may have to get sidelined for a bit, while I steal a living from mr dow and mrs dax.

Yes directions hold better, the moves are stronger, much better chance of being able to just on an existing move with less fear of being whipsawed.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #522
  • Edited 8:21am Jul 11, 2012 8:07am | Edited 8:21am
Quoting GDR3k
dow short 12642
Closed @ 12602. +40

12600 is proving to be some support.

**********

edit;

I've had a look online but to no avail, what is the pip value for 1 lot size on the DAX and FTSE 100? With the mini DOW futures its 32pence/pip per 0.10 lot size, if I've done my math correctly...
  • #523
  • Jul 11, 2012 8:24am Jul 11, 2012 8:24am
Quoting GDR3k
Closed @ 12602. +40

12600 is proving to be some support.

**********

edit;

I've had a look online but to no avail, what is the pip value for 1 lot size on the DAX and FTSE 100?

FTSE is traded in GBP so £1 GBP per pip or $1.55 USD.

DAX is traded in Euro so £0.79 GBP per pip or $1.23 US

Pips are worth more on both than the dow being $1.00 ofcourse like Forex ###USD pairs.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #524
  • Jul 11, 2012 8:25am Jul 11, 2012 8:25am
Quoting Turveyd
FTSE is traded in GBP so £1 GBP per pip or $1.55 USD.

DAX is traded in Euro so £0.79 GBP per pip or $1.23 US

Pips are worth more on both than the dow being $1.00 ofcourse like Forex ###USD pairs.
Ah ok, so on the ftse, 0.10 lot would be £1/pip? etc.
  • #525
  • Jul 11, 2012 8:36am Jul 11, 2012 8:36am
Quoting GDR3k
Ah ok, so on the ftse, 0.10 lot would be £1/pip? etc.
Correct, it's will be 1 in where ever the market being trading is, GER being German = Euro.

So FTSE a 100pip move is worth 155pips of Dow.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #526
  • Jul 11, 2012 8:38am Jul 11, 2012 8:38am
Thats great, thanks.

Gonna see if theres a pullback and may get back in.
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  • #527
  • Jul 11, 2012 8:51am Jul 11, 2012 8:51am
Quoting GDR3k
Thats great, thanks.

Gonna see if theres a pullback and may get back in.

I'm going to take a break, brain is fuddled, doing stupid things like moving the SL and taking a HUGE SLAP just, gave back yesterdays nice trade and some more.


That DOW broke lower big time another 50pips.


Off to shoot myself in my nad's laters!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #528
  • Jul 11, 2012 8:53am Jul 11, 2012 8:53am
Quoting Turveyd
I'm going to take a break, brain is fuddled, doing stupid things like moving the SL and taking a HUGE SLAP just, gave back yesterdays nice trade and some more.


That DOW broke lower big time another 50pips.


Off to shoot myself in my nad's laters!!
Haha have fun, looking at charts all day turns your brain to mush, I need to have music on all the time or I literally go mad.

Theres quite a big trendline on the DOW that will need to be broken if it wants to get any lower, starting from the low at june 4th.
  • #529
  • Jul 11, 2012 9:04am Jul 11, 2012 9:04am
Quoting GDR3k
Haha have fun, looking at charts all day turns your brain to mush, I need to have music on all the time or I literally go mad.

Theres quite a big trendline on the DOW that will need to be broken if it wants to get any lower, starting from the low at june 4th.

Lack of TV, Lack of Coffee, Lack of sleep recently and I've got Man Flu

I'll make it back x's 10.


Charts are starting to have meaning again must walk away LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #530
  • Edited 10:00am Jul 11, 2012 9:31am | Edited 10:00am
Quoting Turveyd
Lack of TV, Lack of Coffee, Lack of sleep recently and I've got Man Flu

I'll make it back x's 10.


Charts are starting to have meaning again must walk away LOL
You should try some of this Kenco Colombian coffee I got the other day, lovely stuff --> http://www.kenco.co.uk/range/kenco-1...-colombian/679 I've tried all of that range and they're all nice.

Short on the DOW again 12567, bounce off the mini trend line.

Closed for +25

DOW is currently fluttering around the trendline starting june 4th indicated by the bottom red trendline on the charts below, may look to go long here if it breaks away.
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  • #531
  • Jul 11, 2012 10:21am Jul 11, 2012 10:21am
Quoting GDR3k
Ah ok, so on the ftse, 0.10 lot would be £1/pip? etc.

Hi

I guess u guys talk about CFDs ?
If so then for the FTSE 1 Lot would be 5 pounds tick value
But depends on the broker , me thinks
  • #532
  • Edited 11:34am Jul 11, 2012 10:25am | Edited 11:34am
Dow long @ 12550, bounce off the major trendline and got in after the first pullback to support. SL is just under the previous low.

SL at break even @ 13+ up at time of typing this.

Closed @ 12570. +20

Thats me done for the day, 91+ in total trading the DOW only, +6 and +40 on demo on the first two trades as I'd never traded it before, +20 & +25 on the last two which were live. I'm shocked as to how well it responds to technicals.

Currencys are getting put on the shelf for a while unless its the perfect set up.
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  • #533
  • Jul 11, 2012 11:35am Jul 11, 2012 11:35am
Bit of a frustrating afternoon... I missed an absolute peach of a setup because I talked myself out of it. When I now go back over the chart and look at the level, the trade was as clear as day!!!!

So that one mistake cost me a profitable day!

Never mind.. tomorrow is another day!
  • #534
  • Jul 11, 2012 11:37am Jul 11, 2012 11:37am
Quoting Nexas
Bit of a frustrating afternoon... I missed an absolute peach of a setup because I talked myself out of it. When I now go back over the chart and look at the level, the trade was as clear as day!!!!

So that one mistake cost me a profitable day!

Never mind.. tomorrow is another day!
What set up was that?
  • #535
  • Jul 11, 2012 11:39am Jul 11, 2012 11:39am
The EURUSD short from the pivot at about 15:30 UK time. At the time I didn't think there was enough momentum in the market. But then when I was analyzing the trade again, I saw that the level was a logical level to sell from!
  • #536
  • Jul 11, 2012 11:43am Jul 11, 2012 11:43am
Ah yeah that was a nice set up, not really looked at FX at all today, giving it a miss for a few days! the dow is my new best friend.
  • #537
  • Jul 11, 2012 11:57am Jul 11, 2012 11:57am
Quoting GDR3k
Ah yeah that was a nice set up, not really looked at FX at all today, giving it a miss for a few days! the dow is my new best friend.
Lol never really traded the dow.. I do like the dax though!
  • #538
  • Jul 11, 2012 12:09pm Jul 11, 2012 12:09pm
Quoting Nexas
Lol never really traded the dow.. I do like the dax though!
Theres a nice bullish trendline on the dax from yesterdays low, it'll be a good short opportunity should it break through and pull back.

  • #539
  • Jul 11, 2012 4:46pm Jul 11, 2012 4:46pm
Good day GRD3 possibly hugely increased profit potential.

Got Angina so got to cut out Caffeine so only Fake coffee for me with sweetners old age SUCKS!!

DOW responded perfectly all afternoon to my previously tweaked system.

DAX after Germany closed went into sideways chop mode, I'll have to check if that's the norm or not, could be useable if so ( checked, not always 75% of the time though, 4:30gmt then chop! )



So people trade the Rec's I make, but don't take and never the trades I take, I'm back into doing that LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #540
  • Jul 11, 2012 5:04pm Jul 11, 2012 5:04pm
Quoting Aeiou
Hi

I guess u guys talk about CFDs ?
If so then for the FTSE 1 Lot would be 5 pounds tick value
But depends on the broker , me thinks

I think it's £5 if you've got a proper Futures broker like IG or something where you pay commision and stuff.

Dow ( YM ) was £12 per pip I think, but going back many many years.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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