Trading the Dow Jones

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

moved SL to 10.

SL break even. Free trade now, so fingers crossed. Not sure about TP yet, see how it goes.

Anyone else trading the Dow atm, live or on demo?

Looks like the price is making another move towards the R2 pivot, so will probably get stopped out if it does. I was 66 pips up in under 10 mins, you’d wait all day to get that on EU I reckon. These moves on Dow probably make a trader greedy, so I’ll have to work on my exit strategy.

Out at BE. Lesson learned.

Might short again around 31, 020 if it gets there.

short again 020, SL 20

I’m still holding my short from 020, and have already moved by SL to break even, so another free trade now. If I’m stopped out like the last one, I will have thrown away 120 pips today, but whatever happens, at least I’m pleased with my entries so far. Lots of work still to do, but it’s not such a disastrous start. Just hope Dow drops like a mother now!

Anyone else out there trading the Dow, or am I posting to myself?

Stopped out at BE on the last one, but just shorted again @ 31,073, SL 50 and will leave overnight.

Looks pretty good for a short.

Good luck!

Well, Babypips wouldn’t allow me to post again until now as apparently I’d used up the number of times I can post in any given period, which seems like a very strange rule to me!

Anyway, I manually closed my short last night just below my BE after it had found support on my 2 minute 200 exponential moving average and looked set to move higher.

Don’t think I’ll trade again until next week. The trend is up, but, it has just reacted off of the previous all time high, and I see a very nice looking triple top/head & shoulders on my 4 hour chart, so this could conceivably be a top with a long way to fall?

Doesn’t look like there are too many Dow traders here on Babypips, so I will have a look over the weekend for a forum where I can find a more active Dow community, and which also doesn’t have silly restrictions on the number of posts one can make, so If anyone can recommend anything I’d appreciate it. Thanks to mattymoney and johnny1974 for your helpful comments.

Happy trading, and maybe see one or two of you elsewhere.