DOW

Remo,

Many thanks for your replies.

Perhaps I am doing it wrong. But to keep losses small (2% e.g.) I only go £1 per point)

But yes, profits are small, losses are small.

This is why I stopped trading for a long while, its so time consuming and when you add up all the profits, and take off losses (although small), you begin to wonder.

I have been looking again recently to trade more (after training cocker spaniel

Perhaps emotions are more severe when trading smaller amounts? Always chasing the profit??

if your itching to get back in then emotions have taken control...Not a good thing..
The dow is unforgiving so careful...

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!