anyone out there palying the indexes and using spreadbetting
can we concentrate on:
djia
ftse100
cac40
dax

lets see what entry and exit signals we can come up with using
gann
rsi
to see if we can predict profitable trades and concentrate on stop losses etc
love to hear from you all
zarif

Dow Jones - Key levels & Trends 26 September 2003


Support breached

The Dow Jones had been up before it moved sharply lower at the close ending the session down 82 points at 9,344 and just a fraction above the long term Fibonacci support at 9,336.
Most importantly the index moved down through the support line and should the Fibonacci just below give way we're most likely heading for 9,000.

Resistance is 9,467 (the lower old support line) and then the upper resistance at 9,671.

Don't trust that Fibonacci. Seems like magic.
JuJu talk, just like that wave stuff.
Works very well AFTER the event.
Besides, who can understand and calculate it on the fly?

Watch the price!!

Snoball:
The dow took a good dive last week and the footsie being around 4150-4175,What are your feelings for monday and the week. I think that it is going to ( the dow) fall to around 9100-9160 if the footsie doesniot recover.

Btw Fibronacci,ellion,gann -forget them as u say they are alright after the event best to follow the price and trust your instinct at times and u can see alot more happening in front of your eyes and react much faster than looking at charts all the time.

best rgds
zarif

I didn't say don't look at charts, zarif.
I just prefer price related indicators.

I'm guessing some upside tomorrow. But only a guess.

Snoball: I know what u meant -no offence taken
Your views good/bad are all appreciated -We can all learn from each other:


Hello everybody
Its Monday again and waiting for the Wall st to open in an hour (1400gmt).What do u think we have in store today. I think it will be volatile to say the least and if we look at the prices both long and shorts (hold them briefly )WAtch the PRICES -its possible to make money. Also because it being the end qtr today -likely to have an upward shift.

Let me know _ ps I have taken some anaesthetic in that it does not hit me that hard

rgds zarif

Brief summary from my travels:

Dow lost 30.88 points to close at 9,313.08. Dow's 14-Day Relative strength Index (RSI) is:41.72 and trending down. Dow is trading below 13-Day (9493), below 50-Day (9357), above 200-Day (8690) Moving Averages. Dow is trading with negative momentum. Dow's resistance levels are: 9429, 9550, 9699. Dow's support levels are: 9196, 9079, 8976.

Type High Low
52-Week 9,686.08 7,416.64
60-Day 9,686.08 8,997.11
21-Day 9,686.08 9,303.82

rgds
zarif

Ps: try a website gives 2 weeks free trial_ no credit cards needed.
www.sixer.com
let me know what u think of it

Zarif, what is the typical/average contract size that traders trade on an index, I suppose the minimum is 1 per point move? and max 1000 per point?

To test the water I did my first dow contracts ...

5 pound a point contract at 9336 followed by 10 pound a point contract...from 9342...

Up so far....it's quite a rush at first, especially as it moves lightening speeds, stops you walking away...

Your not bold Zarif...? lol...could easily lose ones hair at times...lol..

Jules99:
To answer your question i would say this:
a): depending on the company you can put 1p/pt to say 1000 per point -but I dont think it would be wise to do 1000 per point unless u have won the lottery and cghances are u could lose it in one swoop.!!!
Some companies allow 2/pt as minimum.
b): I always open a bet with 2/pt and if my decision is right then i will put my normal size at 15-18/pt. I dont wait for it to make me loads as soon as i am comfortable with the amount gained i will close it even if it then goes( and more often it does) to show a greater gain after closing.
c):Think of it as a game and never risk your whole pot.
d): stick to your stop losses (adjust them etc accordingly) to lock in your profits.
e)be prepared to take small losses dont let the trade carry on especially if it is going against you or u will end up losing a lot more and your profgits financing your losses.

you have to watch the dow as it is volatile and hence the risk/reward ratio is there.They say when in DOW you WillEither Say WOW or OWW!!!!

rgds
zarif

I like that last comment...so far doing ok...:-)

At this stage 5-15 a point suits me fine, so when the market does go against it's not a huge loss...also using CMC CFD's a/c they always quote a 5 point spread, is is normal...or should it be 4 point spread?


When the DOW closes up tday...it normally has a high % chance of positive effect on the S E asian markets right...You know what I'm thinking today...

what are thoughts...

jules99

5 point spread is the norm on the dow with cmc....

Mega...

Megs.
thats fine I can live with that...I guess chips I'll have to do without...at 5 pound a point I'll order half a pizza tnite..


Ta.
Jules99

..nas is up as expected on semi conductor sector positive outlook...how do u see dow finishing from here? think it will hit 9295+ today b4 close...

ta.
jules99..

todays low so far, 9293.
nice call jules.
hope you took your profit.

what time (Uk) does dow close..9.30 or 10.00?

9.00 I got it..

snoball...I'm laughing as I Write this thought I made..450.00 quid...selling out at 9370...but..

Doh it's the DOW so it's in dollars..! equates to 271 pounds...oh well...enjoyed the thrill of it...

must do it again sometime...

:-)

HEllo everyone:
The dow managed to scalp both on the longs and shorts yesterday(29/9/2003).So what are we going to do today. I think it is going to head south. On my browing i found the www.sixer.com site quoting a high %ctage of bulls on the dow for today.What are your opinions???

rgds to all
zarif.

Ps: jules99 - welldone on the dow yesterday, I was pretty certain you would get past the 9350 mark.

Levels to watch for in Tuesdays trading:


Dow Jones Industrial Average (INDU) support at 9200; resistance at 9758


S&P 500 (SPX) support at 995; resistance at 1050


Nasdaq Composite (COMP) support at 1780; resistance at 1950

Jules: Megabucks: Snoball:
I hope u are all shorting like mad and not in the longs at present. What a nosedive. I had 2 shorts and collected 114pts at 15/pt and 80pts at 12/pt. Now I am just looking at the screen and anaestehetised myself with my best freinds Chivas And Haigh.
Good luck
rgds
zarif

jules:
I have gone long at 9195 Dec Dow at 15/pt and it is at 9246 as i write at gmt 16.42 (14.00 eastern time usa 2pm) and i think it is going to have a lot more upside and am waiting.

Jules Are you Trading the Daily Dow WHich Expires at end of day trade (9pm), which can be costly at times when the market is uncertain.
You can trade the following month eg#: october november or december and hence giving more time for the trade to mature in case it doesnot happen on the day you can carry on.

let me know and happy hunting
rgds
zarif