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30th January 2018

Todays market discussion. Good trading everyone 🙂

Some nice moves overnight today. Had limit orders fill on my shorts at 7610, then bought pre open for 35 points. Short again now from 7650. It’s still trading exactly the same as last January.. that would suggest we keep testing 7600 area for a few days then begin a new rally leg from next week. Seems plausible but the US is a bubble and don’t want to be on the wrong side when that starts going down.. there are loads of buy and hopers who don’t have great risk management and we’re just well overdue one to flush them all out.

So just keeping it simple, see the range as 7600-7660.. buy low and sell high, buy breaks above and short breaks below

i very nearly shorted the Dow yday at 26600...... But just thought I better not....pity I didnt...

Nice trading there Mcgcapital. This 7622 looks key right at the moment.

Where are the dip buyers?

Quote from Nick on 30th January 2018, 1:18 pm

Nice trading there Mcgcapital. This 7622 looks key right at the moment.

Switched back long at 7610... this could be a pretty severe test of 7600.. holds and new highs maybe. Could go either way so would ditch on a break

Would exit longs under 7580.. last year the test of 7100 got to 7080s.. vol is higher so need to adjust. State of the union speech, fed meeting and NFP all potential catalysts for a reversal this week. But under 7580 would sit out and wait for something else to set up

I’ve been on Nick’s chat all day today. I joined, anstel. Just thought it would do me good for discipline and all that, hope for Nick’s advice. Nick’s arrows actually helped me with Dax long in the morning but I had to make my own decision on entry and SL and exit although he gave his advice on that which was valuable. I have witnessed the drama on the chat as well.

Just got a S&P long at 2822 off S3 - out at 31. Nice bounce. FTSE trying to bounce off its overnight lows too

Long Dow 26100. Target 26340

Quote from Jack 2 on 30th January 2018, 4:30 pm

I’ve been on Nick’s chat all day today. I joined, anstel. Just thought it would do me good for discipline and all that, hope for Nick’s advice. Nick’s arrows actually helped me with Dax long in the morning but I had to make my own decision on entry and SL and exit although he gave his advice on that which was valuable. I have witnessed the drama on the chat as well.

I think anywhere you can connect with other traders has got to be beneficial .....and Nick has a lot of experience so hopefully it will help you.....keep plugging away Jack small...

 

Quote from anstel on 30th January 2018, 6:56 pm
Quote from Jack 2 on 30th January 2018, 4:30 pm

I’ve been on Nick’s chat all day today. I joined, anstel. Just thought it would do me good for discipline and all that, hope for Nick’s advice. Nick’s arrows actually helped me with Dax long in the morning but I had to make my own decision on entry and SL and exit although he gave his advice on that which was valuable. I have witnessed the drama on the chat as well.

I think anywhere you can connect with other traders has got to be beneficial .....and Nick has a lot of experience so hopefully it will help you.....keep plugging away Jack small...

You are right, wherever you are, you are still responsible for your own actions and trades. I need to remember that. I was staking small today and 55 points done. If they were 20£pp oh well. I seem to struggle when it comes to increasing stakes. But I need to. At least 4£pp would be just heaven for me if consistent.

Quote from Jack 2 on 30th January 2018, 7:44 pm

 

Quote from anstel on 30th January 2018, 6:56 pm
Quote from Jack 2 on 30th January 2018, 4:30 pm

I’ve been on Nick’s chat all day today. I joined, anstel. Just thought it would do me good for discipline and all that, hope for Nick’s advice. Nick’s arrows actually helped me with Dax long in the morning but I had to make my own decision on entry and SL and exit although he gave his advice on that which was valuable. I have witnessed the drama on the chat as well.

I think anywhere you can connect with other traders has got to be beneficial .....and Nick has a lot of experience so hopefully it will help you.....keep plugging away Jack small...

You are right, wherever you are, you are still responsible for your own actions and trades. I need to remember that. I was staking small today and 55 points done. If they were 20£pp oh well. I seem to struggle when it comes to increasing stakes. But I need to. At least 4£pp would be just heaven for me if consistent.

Hey Jack that's dangerous you said £20 a point there.... If you lost 50 pts you would be a grand down.....with 50% of your account left.....just keep to £2pp and let it build up slowly........ If you see set ups you can place a few trades in a day....if you get 3 trades at 10 pts at £2 that's £60 a day........but only ever have a max risk of £2 pp at any one time that way when it goes pear shaped it's not to bad...