Trading the Dow Jones

Thank you. I shall bear this in mind.

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My word, looks like the Dow has quite a reputation. I like a challenge though, so I’ll accept it and see what happens, with low risk, strict discipline ( hopefully ) and a realistic approach.

I just say “Good luck !”

But remember casinos don’t make their big money on their ‘edge’ but on ‘brave losers and timid winners’ :rofl:

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Well, the casino won’t make much money from me, I’m far too poor. What I’m hoping to take from them is experience. I definitely do not want to trade demo, so if the Dow proves too much, then yes, I shall try the S&P, which as you say, pretty much mirrors Dow by the looks of it.

But wouldn’t it be better to do it the other way around - start in the shallow end first rather than take a rinsing in the deep end first ??

Probably, but I reckon it’s always better to try the deep end as the fastest way to find out if one needs the shallow end. I’ll give it a go anyway.

I hope you survived the morning, it was pretty crazy!

As I work nights, I only get to trade the New York session. Just wasn’t sure which way it would go at the open. As it turned out, sharply down to my S3 pivot. A buy off of that would have been good, but I was far too chicken! No trades today yet then, I think I would have been killed. FOMC later, so market now probably awaiting that I guess.

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Smart choice!

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I like your thread by the way, not just trades, but good clear analysis via your charts. Something for me to emulate given time.

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Sold Dow 30,820, SL 50, See how it goes.

Moved SL down to 40.

apologies, SL down to 50, not 40

Now I’m hoping that my entry-level of 320 is a definitive level, because it looks to me that if the price breaks above this, it will move higher, so I might close it manually if it does.

SL now to 840, because I think if it does break above the high here of 827, it’ll go higher, and I don’t want to lose money unnecessarily.

Okay, out at 824, no point holding this

I’ll try again tomorrow.

So, it decided to fall just after I exited the trade. That’s really not fair! :grinning:

Didn’t get a chance to trade today, but here’s my sell entry I posted from yesterday and which I should have held instead of cutting for a 4 pip loss, but the lesson was a good one for me not to do the same next time. The price found support on the 30 minutes 200 exponential moving average as you can see in the chart shot, so would have netted 290 pips if I’d held it all the way down. :sob:

Short Dow 30,995, SL 40