Dow Jones Ind Av

[dumbass]

hi peat , im with you looks like it wants to go higher.

i was watching a potential 'shampoo' on h4 but that was blown out the water, 1061 pivot looks strong.so i am taking the failed head and shoulders as a continuation pattern with a channel line break to boot.

difficult counting corrections but the main thing is it looks like a correction, happy to be out at the moment.

1090 next pivot with a gartley maybe aroung 78.6 , pretty boring stuff at present.
states closed on monday as well.

[dumbass]

just rereading this thread to get bear market conditioning , shame the charts have gone.
i reckon we did ok hoop in navigating the last bear market .

[Hoop]

just rereading this thread to get bear market conditioning , shame the charts have gone.
i reckon we did ok hoop in navigating the last bear market .

Dumbass I guess we may have to start it up again..we had good technical debates last time which were very informative..yes pity about the missing charts.

Yep I did OK...I feel very chuffed about getting through the last Bear market with a +3% capital gain in my portfolio thanks alot to Pike River Coal..Using the Bear Market strategies of safe havens and buy and selling in the sucker rallies "sort of" worked but I must admit it was a little nerve racking.
However there were two downsides
1 If I stayed cashed up I would probably gained more than +3% probably 8% but at the time banks.. trading accounts... and other financial institutions looked an unsafe place to keep large amounts of cash.
2 I had to pay IRD in capital gains.

such is life..eh?

[dumbass]

I am going to post my results on a trial trading sysytem for the dow. The sysytem will generate buy and sell signals that will be placed very near the end of day close

on the dow ( 10 am nzt ). This is the most manageable way to trade the dow without having to stay up late to place trades. i will not play the futures market but the cash market

i anticipate a stop loss of about 100 dow points.

To add a bit of spice to leverage profit and loss, i will trade puts and calls or UDOW pro shares.

UDOW are index tracking shares with a 300 % gearing, therefore dow goes up 4 % udow up 12 %

im expecting trades to run from a day to a few days . i will post all trades in real time before the event to make sure there is no funny business.

i will trade it rather than demo it as i always need a bit of skin in the game to keep it real.

i would not recommend anyone following it in any way shape or form but look on it as pure entertainment value and you may subjct me to public riducule if it tanks.

[dumbass]

i have a got a buy signal at close today , i will enter long just as market closes and will detail entry and stop loss.

[roddy]

Sounds like Fun DA,will look forward to your posts, is your trading system based around Elliot wave?
is it called ProShares UltraPro Dow30 (UDOW)

[Hoop]

i have a got a buy signal at close today , i will enter long just as market closes and will detail entry and stop loss.

Hi Dumbass...i'm with Roddy here in looking forward to your posts.

There's been a strong inflow of money into the DOW these last 6 weeks and a good rise on the index, however the momentum seems to be weakening these last couple of days so that buy signal you got Dumbass will be interesting and a good test of that trading system ..eh.

[Entrep]

looking forward to it dumbass

[dumbass]

yes its purely a mathematical based model , no charts. its very contrarian philosphy requiring ballsy trades off large moves.

the key is to be in early , so looking to enter on a market close to get either a gap open or possibly a big intra day reversal .

im expecting the market to close higher than today and will ride the long trade until a minor sell is generated to close position or a major sell will generate a reverse position. its really for trading against time zones where trades will tend to be end of day.

long from 116.71 and gains\losses will be three times the dow move.

yes roddy thats udow but if it works i will trade puts and calls as the margin requirements are high for this etf.

[drillfix]

Hi DA,

What actual instrument are you trading here? the Mini SP500 as in ES ???

I used to trade ES and CL, but since then resorted back to Aus stocks, although may look at dong some more US based trading though the hours screwed me up previously so I guess it depends.

Can you share with us, are you doing well from those markets?