DOW

longterm_view wrote: This is where I get stuck with trading. (i know about the 3 contract rule, but i only do a £1 per point) (£3 per point is to much of a loss)

Traders advice please.

I entered at the breakout, sold at 16000 for profit.

Do I re-enter now? or wait for re-test? Am itching to get back in? Dont want to miss 600 odd points.

I could enter above 16030 for another breakout.

Help please.

hi LTV
when betting small positions like £1 a point you are at a disadvantage. You cant take any profits or be really greedy. The 3 contract rule is there to take out the emotion ..
with regards to the best level to go long now.......Thasts going to be a re-test of 15855...Thats the best level to go long.
You can try and re-enter on a breakout trade at 16030 but thats not the best level. Its a good level for a top up when your betting with the trend. The risk are more obviously as your entering at the resistance but if it does break then there is a good chance that it may fly.

good luck

This is where I get stuck with trading. (i know about the 3 contract rule, but i only do a £1 per point) (£3 per point is to much of a loss)

Traders advice please.

I entered at the breakout, sold at 16000 for profit.

Do I re-enter now? or wait for re-test? Am itching to get back in? Dont want to miss 600 odd points.

I could enter above 16030 for another breakout.

Help please.

Worth a long from 15855 with
a 40 point stop during market
hours only. This is for today only.
trend line and breakout point support together


dl.dropboxusercontent.com/u/4899609/dow20thnov.png

I hope you are right of course Remo, but I'm in two minds...

I don't remember where I saw S&P chart recently, but it did make me wonder... So I had a look at the DJI, and admittedly although isn't the most polished of charts, it did show a rising wedge, so we might have a few more points, but perhaps a re-trace (if not a big correction) is due.

Who knows anyway!



O/T Personally, I'm peeved at not taking a look at Hong Kong and China, even UBS were calling it... Could have been a nice earner... Oh well!

I hope not... I want this to motor on as i dont want any corrections as ive taken a few long term positions(till the christmas rally is over). It will mean closing a few of them if it starts to head back down to the test zone. For once i just want this to motor on.
lol

longterm_view wrote: After hitting 16000 and reversing. (Profit taken)

I presume the next trade is waiting for the re-test of the channel at 15860?

After hitting 16000 and reversing. (Profit taken)

I presume the next trade is waiting for the re-test of the channel at 15860?