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SPX and DAX - CFDs are the place to be

  • #2,501
  • Sep 15, 2014 3:33am Sep 15, 2014 3:33am
Short 9655, sl 9665 no tp hrmm
Corripe Cervisiam!
  • #2,502
  • Sep 15, 2014 3:38am Sep 15, 2014 3:38am
Quoting deltaone
{quote} congratulation. my next target (see above) is around 9620.
This week there should not be too much room for play as of this moment. The reason is options expire and US is in line with this months prediction of +10/-10 points

http://forecasts.org/stpoor.htm
  • #2,503
  • Sep 15, 2014 3:43am Sep 15, 2014 3:43am
Quoting paddlepip
Short 9655, sl 9665 no tp hrmm
Same here
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  • #2,504
  • Sep 15, 2014 3:48am Sep 15, 2014 3:48am
Quoting stylinex
{quote} This week there should not be too much room for play as of this moment. The reason is options expire and US is in line with this months prediction of +10/-10 points http://forecasts.org/stpoor.htm
thanks. i think we will see increasing vola due to triple witching day this friday. will check open interest...
fortis fortuna adiuvat
  • #2,505
  • Sep 15, 2014 3:52am Sep 15, 2014 3:52am
Fdax

I didn't notice any quick reactions or pullbacks when dax makes new highs.. it just raises.. that would mean it either goes to 50 sma on 1H and will retrace from there or it goes to test the 9700 level. (but IMO the trend is still bearish for now)

Happy Trades
Focus only on what truly matters!
  • #2,506
  • Sep 15, 2014 3:57am Sep 15, 2014 3:57am
Quoting prits187
Hi Everyone, Thank you for all your supporting messages. 9400 was the first position i opened and i been Selling everyday till today, iv made some good profit today due to some good drops. hoping it continue now as i really would like to come out from my trades. my plan going forward is to find good supply and demand areas, put my orders in with stop loss and take profit. Also i want to stop trading live as thats the thing that hold my emotion on chart, that is what the market makers wants. i was willing to put my stop loss right...



Thinking about your post it would seem that you are in an awkward position both financially and mentally, which is very common and at one time or another all the honest people within this forum would admit that they have been in a situation of conflict. Having spent over 20 years with equities it has happened to me many time. This of cause is painful each time it happens, but you must learn to win and lose. You need to find both winning and losing as part of a normal day and have no emotions to either outcome. You must also learn from the situation and try to understand how the conflict has happened and how to prevent it happening again.
There are a number of very good traders within this forum that I feel you could learn a lot from, but good trading comes from within. I can only conclude that learning to trade has three key stages,

  1. You place some trade and by chance you initially win, it fills you with joy and it looks like an easy way to make money. However, the luck soon runs out leaving you with losses and a need for someone to tell you what to do or which trades to place. You start to follow an “expert” who works for a company and is not a full time trader resulting in a mixed bag of trades, but no real profit. This leaves you feeling that you have a greater chance of making money if you make your own decisions.
  2. In order to make your own decisions you embark on a quest to find the magic system, the Holy Grail of trading, the secret behind the charts. You start to buy endless amounts of books (a lot published by none trades) and applying fancy indicators to your charts, but once again it results in no profits. It results in no profits for one reason only; you are still looking for someone to tell you what to do.
  3. There is no magic system or Holy Grail. Successful traders get financial rewards form their own performance in the markets. They have an understanding of the markets and the indicators, how and when to get in and out of the markets, good money management and most importantly controlled behaviour during trading. Combining these elements together builds a trading system, which is the real secret to trading and can only be found inside yourself. There is nothing wrong with looking at other peoples trading methods, but for it to work for you it needs to be compatible with you

To me you trade has gone wrong and you need to decide if this is a trade or an investment, but don’t turn a trade into an investment they are two separate things. In trading if you are wrong, then you are wrong and you must cut the trade. You must NEVER EVER EVER add to a losing position! This will only ultimately lead to bigger losses. If on the other hand this is an investment then you must plan and be prepared for a retest of the 10,000 level, with the potential of an upside break.

  • #2,507
  • Sep 15, 2014 4:01am Sep 15, 2014 4:01am
sl hit. -10
fortis fortuna adiuvat
  • #2,508
  • Sep 15, 2014 4:05am Sep 15, 2014 4:05am
Short 9659
The best thing that can happen to you is to find out where you're wrong.
  • #2,509
  • Sep 15, 2014 4:08am Sep 15, 2014 4:08am
Quoting stylinex
{quote} This week there should not be too much room for play as of this moment. The reason is options expire and US is in line with this months prediction of +10/-10 points http://forecasts.org/stpoor.htm
Whilst we can expect increased volatility on Thursday afternoon / evening as the main US Index Options close trading at 3:15pm Chicago time, much will depend on the open interest at the close to index strikes at that time. In addition, Friday is Triple Witching and the last hour of trading sees the expiry of Index & Stock Futures contracts and their related options and thus roll overs and close outs often bring substantial volatility into the US markets.

However, IMO, these events will have little impact for the next three days with German ZEW tomorrow and the FOMC Economic Projections and Statement on Wednesday.....plus Ukraine and Scotland to add their influence to the DAX.....
Trading Levels with WRBs
  • #2,510
  • Sep 15, 2014 5:08am Sep 15, 2014 5:08am
short 9661
Corripe Cervisiam!
  • #2,511
  • Sep 15, 2014 5:13am Sep 15, 2014 5:13am
Quoting Dave.
{quote} Thinking about your post it would seem that you are in an awkward position both financially and mentally, which is very common and at one time or another all the honest people within this forum would admit that they have been in a situation of conflict. Having spent over 20 years with equities it has happened to me many time. This of cause is painful each time it happens, but you must learn to win and lose. You need to find both winning and losing as part of a normal day and have no emotions to either outcome. You must also learn from the...

Hi Dave,

you are right, i have only started trading for last 6 months and found myself in a bad position many time, this is just one you all know about. the worse one iv had is in March when a trader who seemed to know what his doing and had made me some profits when i started. He advised me that Gold will be going up like a rocket, due to him being right many other times and he made me some good profits. i ended up putting 2K on max leverage, ended up topping my stop up as he said it will go up. he kept saying that till he was out of money and closed his account down. leaving me with huge position with over 4K on one trade. i made my mind up to close it as i dint know which way it would have gone. that was the biggest lesson i learnt in my life. now i take people advice but also look at the charts myself and see where the Supply and Demand, with Support and resistant. only then i take my trades. the ger30 positions i opened that due to me seeing so many supply but not many of them did what i was expecting. the person who gives me one2one training on supply & Demand tells me all the time i should always have a stop loss and not top it up regardless what i think. also before i open a trade i should know when i will be coming out with or without profit and i should stick to it regardless what i think will be happening soon.

lucky for me i made most of my loss back with the drop it had end of last week, i opened many ger30 sell position whih ended up more then 100% in profit. now for the old positions, iv out my stop loss on 9737, if it hits that then hard luck but if it drops and gives me the profit or even 0% profit ill be happy. also going forward im trying to place my orders with stop loss and take profit. least that way i wont be attached to charts every min and emotions wont be that bad too.

i totally agree with you that market does hold many people emotions, but its how you deal with it. that's the mastering of this game. i appreciate you advice and will keep things in my mind before i open a trade next time.

i wish you all the green pip
Prits187
  • #2,512
  • Sep 15, 2014 5:13am Sep 15, 2014 5:13am
AJ on the rise, looking rather correlated to SPX.. again
Corripe Cervisiam!
  • #2,513
  • Sep 15, 2014 6:03am Sep 15, 2014 6:03am
this is boring
  • #2,514
  • Sep 15, 2014 6:09am Sep 15, 2014 6:09am
Quoting prits187
{quote} Hi Dave, you are right, i have only started trading for last 6 months and found myself in a bad position many time, this is just one you all know about. the worse one iv had is in March when a trader who seemed to know what his doing and had made me some profits when i started. He advised me that Gold will be going up like a rocket, due to him being right many other times and he made me some good profits. i ended up putting 2K on max leverage, ended up topping my stop up as he said it will go up. he kept saying that till he was out of money...

You’ve got it!

Stick at it and it will come,

Longevity is important and you must limit your losses. In general I would risk no more than 1% on a day trade, this way I will see another day.

Take care,

Dave.

P.S. don’t make luck part of the trading.
  • #2,515
  • Sep 15, 2014 6:18am Sep 15, 2014 6:18am
short @9679 sl 9689 tp 9649
fortis fortuna adiuvat
  • #2,516
  • Sep 15, 2014 6:33am Sep 15, 2014 6:33am
short 9674. sl -10

Dow looking ever so precarious.

Goddamit Dow. Just keel over.
Corripe Cervisiam!
  • #2,517
  • Sep 15, 2014 6:41am Sep 15, 2014 6:41am
Quoting paddlepip
short 9674. sl -10 Dow looking ever so precarious. Goddamit Dow. Just keel over.
depends on the tf - 5m, H1,H4, daily, weekly?
  • #2,518
  • Sep 15, 2014 6:52am Sep 15, 2014 6:52am
cat

H1 and H4.

D and W look intact in terms of trend.

In terms of fundamentals I'm of the opinion recent USD rally is safe money going home. Doesn't really mean much I guess (except could precipitate risk off). But then we have FOMC, rates, turmoil... Something will give but the tf... the tf... anyone's guess really.
Corripe Cervisiam!
  • #2,519
  • Sep 15, 2014 6:52am Sep 15, 2014 6:52am
Quoting deltaone
short @9679 sl 9689 tp 9649
sl = be now.
fortis fortuna adiuvat
  • #2,520
  • Sep 15, 2014 7:26am Sep 15, 2014 7:26am
closed, only minutes to empire state. +10
fortis fortuna adiuvat
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