Posts Tagged daytrade
Despite my last email about the DOW and what a bad instrument it is to trade, I just could not keep my eyes off it. Watching the DOW move is addictive and I found myself drawn to it again like a drug. It's movements are huge and if you get on the wrong side of it, it is extremely satisfying.
I entered again, a short at 10993 as the long pattern broke down and with 30 minutes to go before the markets closed, I felt this was going to be a decent move but I just could hang on and I closed for a
September 23, 2008
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Usually I really don't like trading the Dow as there is always a lot of short term noise which tend to mess up your trades by whipsawing the price action beyond your stops and then reversing. The main reason I guess is because the Dow Jones average is comprised of just the 30 biggest stocks and movement within the biggest one can move the markets.. in other words, market manipulation with the Dow Jones is not unheard of.
Anyway, I did place a couple of trades.. firstly a short at 10908 which
September 23, 2008
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Following on from my earlier FTSE trade of today, I also spotted a perfect entry for the Dow Jones today.. it's a shame that I didn't trade it as it would have been extremely profitable.. it's nice when the markets hit a perfect resistance line and short.. however, these perfect hits are rare and look great if you have executed them in the right manner.. however, more often than not, if you saw this movement, the markets wouldn't behave.
However, I did short the Dow for a quick scalp trade wh
September 22, 2008
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