I shorted the DOW when it broke the trendline at 9740 or so.. however, it wasn’t the perfect entry as the market bounced from this area of support to go north… I had a stop at 9780 which was the previous high but nonetheless, my short wasn’t ideal as short trades should be entered on a long countertrend.

I had to watch the market go against me 30 points or so before it tanked.. it went past my entry point and I took profits at the round number 9700 for 40 points which wasn’t bad. However, the market is still going down, as I write, it’s at 9672 meaning that I left another 30 odd points on the table… nevermind!

The market just dropped further and hit 9660….. double nevermind!

Tags: day trade, daytrading, dow, intraday trading, shorting the dow, Spreadbetting

If you look at the 1 min chart of the Dow Jones below.. you can see that the market in the yellow box wasn’t doing too much.. however, I was trading in this region, selling and buying when I should have been doing anything. I saw that the market had dropped and I was expecting to see a bounce back up to around 8500 at least… however, the adage is ‘trade what you see, not what you think’ and I failed miserably.. in total, I made two trades in this region,  both lost to the accumulative amount of 70 points! Ouch!

I then went to the gym and when I came back, I saw what had happened.. the market had dropped and fell a further 200 points from the baseline 8350.. in hindsight, it looks like an easy entry.. unfortunately, I wasn’t around to capitalise on it!

I have said many times that I should leave the Dow alone.. I really need to set some rules to stick by them…

Tags: day trade, day trading, daytrade, dow, futures trading, s&p, shorting the dow, trading blog

I got in the perfect entry today after seeing the market was trending down and I got in at 8382..  I got out far too early though at 8355 so grabbed only 27 points.. the market fell as far as 8285 which was a further 70 points..  I am finding it difficult to hold onto profits and 27 points is so measly compared with what it could have been!

Tags: daytrade, daytrading, dow, dow jones, futures, futures trading, Spreadbetting, Trading