how do you see the dow index going today Dow Jones and S&P commentary: Signal Watch Dr Bob Hard Right Edge Raptor Research Charting by Snoball: Dow Chart S&P Chart Drinks & Break Time at: GD's Famous Tea Room & Watering Hole"

DOW JONES @ LIVECHARTS

Yes I'm hear - I wouldn't mind knowing either!

I forgot that the US closed early on Boxing day and left a Dj long open (a first for me!). Checked in today to trade UK shares, only to find currently more than 25 pts up! All morning I've been holding off closing the position, wondering how far it may go - as I have a habit of getting out too early! Will try and hold on until US open and see what happens then.

Well done lw: U see sometimes things just happen right and no matterwhat anyone says all the ta etc helps but if "luck" is with u u cant go wrong. I hope u cream the dow today.

rgds
zarif

Thanks zarif - but I'm starting to get nervous, as the saying goes " a profit is only a profit if you take it!"

Lw: Move your s/l to lock in the profit. I think the dow is going to be up today and tomorrow and i would put the ceiling around 10410 and then down move tomorrow around 6-7pmour time. How is that for my xstal ball. Lets see if it happens like that.
rgds
zarif

Zarif, you'll have to excuse me for being dim, but I'm not sure what you mean by "move your s/l to lock in the profit"

lw: say you have position open long at 9000 (s/l at 8950) and the price now is 9200. then to lock in your profit just move the stop at say 9180.there will be a bit of trade off and also you have to watch as to how close u can move the stop depending on the s/b co and min points away from mkt etc.

rgds
zarif

Oh I see. I've not been using stops because I find they don't get carried out!

Thats also why I always try to close a position in the same day if I can. Will put one in place incase for once they actually will action it.

nice to see you're making some dosch on the dow, lw.
who are you spreadbetting with, may I ask?
if they don't carry out your stops it might be time to change them.
using stops really makes life a lot easier, especially when in profit.

hi zarif.

hi snoball:
Hope u r recovering from the hangover from xmas and getting ready for another.
had a good payout on long eur/usd. Reckon the dow will hit 10400 today? then retracement if not today tomorrow?
rgds
zarif

D4F(CMC) - I know I should move my account else where - but I have completed so many forms for opening banks & dealing accounts this year, I am fed up of having to prove I am who I say I am and I live where I live.

Thanks Zarif.
Best of luck everyone

Tariq

Little woman. Not much the matter with CMC - I've had three spreadbetting accounts, with IG INdex and Cantor, and prefer CMC.

I have just started entering stops on some trades. It's really very easy. As Zarif says, if you are in profit on a long trade, put the stop-loss above where you entered so you can't lose. I only use the internet for all my trades, rather than the 'phone, because my hearing is very bad.

In the grey New Order box go to the white Market box and click the arrow on the right, moving down to Stop. Then alter the Price box to the price you want to come out at if the trade goes against you. Just one thing - you must set it so many points away from the market price - you can tell when you've done this because the Place Order box goes from grey to bold.

Check you've got the correct amount entered and the correct Expiry (ie rolling cash, or Monthly bid etc). When you click the Place Order button the main box goes yellow and then Cyan. It will stay cyan until either the price is hit, or you cancel.

If you close down cmc, leaving the Stop in place, the cyan box closes but you can check the position next day on the blue Pending Orders square below the Options at the top of the main window. You get the little Blotter Request box somewhere in the window asking you which dates you want to check. Click OK and scroll to the right and you have the option of cancelling it.

Hope this helps, as I was abit nervous the first few times I did it in case I did something wrong.

Thanks for the help Maggot - will try it

Well that worked! Stop kicked in on this latest drop - question is do I buy back if it drops below my sell or do I walk away!

lw: well done at least u had the guts to try a new way.My advice would be to watch the market as to what highs lows etc are being played and also look at the s/r pivot etc.Also what does the ftse do near close as its at r1 and might just take a hike down. Enjoy a cuppa dont rush in the trade-the market will always be there u get in at the level u want.

rgds
zarif

Little Woman. Well done indeed. At least you have a profit. I have lost more money on the Dow than anything. I rarely trade it now - it's a beast! It is too fond of doing what it has just done - dropping to take out all the stops then surging back up!

Now, if in doubt do nothing. That is taking a position - remember there's always tomorrow. My golden rule is... do not chase prices; let them come to you. I still break it sometimes, but at least I now know roughly how much risk I am taking.

Went shopping as the content of the fridge were a little bare!

Lots of excellent advice - will sort out dinner and do some research ready for tommorrow.

Pardon my ignorance but what is the sigificance of S1 S2 P R1 R2

Thanks for your help

Tariq

Tariq
s1,s2,etc are the support levels. r1 r2 r3 etc at=re the resistance levels. p is the pivot.
Basically once the resistance is succesfully violated than it becomes a support level.
think of it as this analogy: say you are on the tenth floor of a building then the 9th floor where u land is your support and the tenth one with the hole in the ceiling above u becomes resistance as u will have a lot of jumps to try and go to the tenth floor and above.
you can use the supports as entry levels and to set your stops below the support level. and the resistance levels as your targets to achieve profits and lock profits by re-evaluating your stops.
rgds
zarif