I often find all manner of reference to Technical Analysis whilst reading threads, questioning certain elements, asking for advice on indicators and also requesting advice on a stock and whether it's a good time to buy, sell, hold or remain indifferent. I am the first to admit that my own TA is still in its infancy, but I do spend time on expanding my knowledge (hopefully in the right direction!).

Rather than having to ask a TA question on a particular thread, perhaps this thread could be used as a forum for TA queries and become a knowledge base. Just a thought, if there is little or no interest, the thread will sink without trace and that will be the end of that. I will personally add a few snippets to help those with less knowledge (if that's possible) to keep things rolling. There is a danger that the thread will receive countless requests for opinions on a variety of stocks and there is only so much I can do alone, therefore I would more than welcome input from other posters, no matter how rudimentary they believe their own knowledge to be, hopefully some real experts will take the time to contribute.

dynamix's stuff is far too esoteric for my tiny and ever shrinking brain .... i'll stick to my very basic chart interpretation aided and abetted by PT and my guru in the City ....... with care, observation and a quick finger, there is certainly decent money to be made on Dow at the moment; i assume you have access to real-time trdaing ... it is very very volatile, so if you pick your entry point, money can be made either long or short, but don't get greedy and be prepared to lose a bit!

maggster, leave it, its not a set up.

larger stops = yes bigger stop loss BUT use smaller stakes if thats the case.
price action is just what the price has done, eg its open high low close levels, any higher lows etc etc

DO NOT move stops. I want the market to tell me Im wrong by stopping me out, and Im happy to be stopped out knowing if it had went past that point the set up for the entry is not there anymore.

Example. BLT reversal bar (today). If your indicators confirm (which I havent checked) then you would enter if it pulls back into today range at all, timing is up to you, but this is where experience comes in. Stop loss would be just under this bar (pink line). You do not want to hold if the trend breaks down straight away, its a false signal (or its time to reverse and go short!). If it continues in your favour move up your stop at the end of each day to just under the current days low. If it is a trend which is taking the price up a level you would normally get a few consecutive days of higher lows so should stay in the trade. Once you are in profit and confident its moving higher leave your stop at a comfortable level locking in a bit profit and walk away or take your profit whichever.. but you should be trying to lock in at least 2 or 3 times your stop amount in profit (if you can) to make this work..



Advice. Market aint going no where. Get a demo CFD account and dummy trade it for a few months. If it works for you then theres plenty time to make s :) the market will still be doin' the same old thing. Up and down.

also get RB. on your monitor for future trades, its a good one when it gives a signal it moves for a day or two usually.

check out todays bar after I told of the reversla bar getiing printed

Quite used to loosing a lot!!!! Trade with IG presume that's real-time trading. Can only find wall street so that must be Dow. Find it a bit scary the way it races up and down but maybe I could start with a 1 a point. Do you use the wall street cash and does that only last for a day? Sorry to be such dope!

Dy You sound like Jesse Livermore. Hope you're as profitable on the stock market. Understand all you've explained, thanks, makes very good sense. Will also take your advise and try a demo CDF. Cynic, maybe I should leave the Dow till I've practiced for a bit

I dont trade the dow. If you find the need to trade any US index trade the S&P or RUS 1000. I make money maggie, but I also lose. These days I dont mind losing for the reasons above, but for a long time it used to annoy me. I was not a profitable trader when I felt like that about losing.

look at german stocks or index also.

99% of my trading is down via CFDs ...... i am currently only playing with Dow because it's so damn volatile .... for instance, when i got home at about 19:15 yesterday it was +186; an hour later it had got back to flat or even down a few points and then in the last 30 mins it shot up 140 points ..... i never take a heavy position (all relative) and will only have an open position while i can actually monitor ..... if i have a position running when i leave the office, then i will almost always hedge it with a stop or even a limit while i go home, though that is only about 10 minutes walk.

Right, I've got to stop being annoyed by losing so will try CFD practice run that way I won't mind losing and I can try all the different markets and put what I'm learning here into practice But don't think you've got rid of me I've still got lots of open positions to deal with:o)

good one maggie, half of this game is overcoming emotions and the 2nd half is having a plan and sticking to it

You would be proud. Left my stop loss alone got taken out on EMG and RTN Don't care - well do really but can see if i'd left them alone in the first place I have lost a lot less and had I moved them I'd have lost a lot more on rtn anyway. Hope I've learned my lesson am going on holiday Sun so better out than in. Will begin the process of regaining my losses and my TA masters degree when I get back. Thanks for all the help everybody It's only adieu I'll be back to torture you soon.

enjoy your hol ..... sorry you're out of RTN, but time will tell whether or not that was a good move .... figures out about 1st wekk Sept

Apologies for not posting, but back at work away from home and the all important broadband connection, still reading but posting charts through a mobile phone connection is somewhat tedious.

Have a nice holiday Maggie :)

pth

phew! lucky alphonse!! .... went long on Dow and caught something of a cold, but made it virtually all back by reversing the position ...... however, all looks bleak for FTSE tomorrow ..... guess that will not hurt my SOLA short, but that's about it

massive trading volumes in new york , this is real

grim day in prospect tomorrow, but just as market (Dow) fell too fast, and recovered too fast, it has prob fallen too fast again, but there is that sneaking fear that we could now see the truly big sell-off ...... have mentioned a number of times that these very volatile markets have a nasty habit of being the prelude to just that

yes Im with you there. C wave unfolding.

RB. had a great run since first reversal bar. Shame it will mst likely end tomorrow.

the dow would have to break 12k before i would declare a bear market

in that, you are prob technically right, but a further 1100 point fall will not do much for peeps confidence or bank balances!

confess that i had expected to see Dow indicator in blue first thing this morning, but it is off a further 70 points since i closed my pos last night ...... still, it's early hours and that is only indication ...... however, there is no doubt that this sub-prime thing is more than just spooking the markets ...... as far as i can determine, no knows or is telling excatly how deep-rooted or far-reaching this prob may be