Tags: day trade, daytrading, dow, makemesomemoney, spreadbet the dow, spreadbetting the dow, trading the dow

The last few trades, I did make quite a few trades on the currency and the DOW (urgh, why am I still trading this instrument?). I haven’t documented everything as I usually do…. many of these trades were done during the day when I was at work and not able to give myself the time to watch the markets.. yes, what on earth am I doing? Anyway, since the 24th, I placed 6 currency trades… all losing.. hmm, I won’t go too much into but they were all small losses. All I can say is that the currency markets have ‘changed’ again, I think they are in rangebound movements again as before, when I was using my trade signals to get in and out, they were working beautifully.

Anyway, back to Friday’s DOW trades, I made two trades.. one during my working period which amounted to a loss. However, at one stage it was 50 points up and if I were about watching it, I would have moved my stop to contain it.. I can’t even say it’s unlucky, I just was there to watch it and so the fault is my own, I really need to not trade when I am unable to watch it. Anyway, first trade was a -61 loss. My entry criteria was the lower stochastic on the second peak in prices, negative divergence.

When I got back home, I traded and managed to claw back some of it. There was a descending triple top pattern and I traded off the third top as it fell from the resistance line. It fell rapidly and I closed out before it went the other way.. my exit was quite lucky as it shot up from it’s position and closed 114 points higher!

Here is the chart:

Tags: day trade, day trader, day trading, daytrade, daytrader, daytrading, descending triple top, make me some money, makemesomemoney, negative divergence, shorting the dow, spreadbet, spreadbet the dow, Spreadbetting, spreadbetting the dow

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 mere +26 profit.

However, the market has crashed as I write and at one stage sat at 10833.. if I got out then, that’s a +150 point profit.. wow! There are some really serious movements in the market lately….

Anyway, I ended today up which was good

Tags: day trade, daytrade, daytrading, dow jones, dow volatility, makemesomemoney, spreadbet, Spreadbetting, Trading, trading the dow