Spreadbetting the Dow Jones – restarting my trading after the Trading Academy
I have been hunting high and low for a suitable trading platform… I now realise that the CQG trader platform which I was using before was simple but great! At first I thought it was a bit basic for my liking but so long as it worked reasonably well and I guess it’s also what you get used to.
Thanks to Harry for dropping me a comment about Ninja Trader.. I had a look for it and I found a broker which I can use this with. The software looks like CQG in the way it functions, I’ll download the demo and give it a try. They have a free version which you can test and run so I’ll download that first.
The bad experience with the trading academy has not put me off. As I mentioned, I won’t elaborate too much at this stage as there maybe legal repercussions.. will let you know along the way.
Anyway, I traded on my spreadbetting platform today.. unfortunately the charts are rather basic for my requirements but I am trying to use the same principles as I would trading the emini S&P, they move in parallel except that the DOW has greater overshoots.
I went long at 12839 as the stochastics were turning up in the 5 mins as can be seen. I was also seeing the same sort of movement with the 1 min charts. The MACD hadn’t yet turned yet but were looking to. I rode the chart and got out at 12863 as it reached the previous high for a nice 24 points profit!
However, the market went higher to 129000 before the stochastics finally looked to level off.. this is what I should have done to hold out. I would have more than doubled my profit.
Trading is about being disciplined and I need to ensure that I remain focused and take advantage of the winning positions.. not be afraid to hold them when they are going my way and closed them when they are looking bad.
Anyway, have a look at my chart:
