Intraday INDU Signals

Quote from MandelbrotSet:

It was a good trade ... give the the guy some room before you start giving him the 'ol ET Welcome .. . shesh! :)
More...

It was not a good trade as it bought a short term top and the stop was raised to 8160 thus getting stopped out for minus 20 on INDU.
 
Quote from gg12:

jeb,

I would prefer trading YM over ES because moving to trading futures it means to enter STOP MARKET. Relativ slippage should be lower on YM compared to ES.

INDU is my trigger line and not a tradable instrument.
More...
 
Emil,

YM and DIA could be possible low spread instruments.
First I want to build up a positive record.

MandelbrotSet

Yes I feel it was a good 'trade' since I had some analysis, a stop in place and reduced risk by trailing to stop up 10 points.
Thanks for the welcome.

--------------------------------------------------

DOWN trigger moved up to 8160
Inital stop moved up to 8190
 

Attachments

Keep in mind that the volume in YM is much lower than in ES, with all the problems lower liquidity brings. And I believe the update rate on $DJX is slower than that of $SPX. No reason IMO to trade off of an index.
 
Emil,

biz.yahoo.com gives a market stat for DIA of 19,482,857 units.
DIA DIAMONDS TRUST SER 1 81.91 3:16PM ET 0.84 (1.04%)

Thats good volume.
I think a market order gives not too much slippage for me.
I already have some DIA engagement to hedge the DJX options.

Same for the YM. 1-2 points slippage would be ok.
I think I would loose more $ in the ES even with big volume, because of the bigger bid-ask spread (%-wise).
 
Quote from MandelbrotSet:

The only problem with the trade what that the stop was too tight, not that it was a bad trade.
More...

Difference of opinion. Not my trading style to buy short term tops.

Look at the posted INDU chart. The time to buy was when the short term downtrend was broken at 14:35 by the 1 minute bar that shot through 8150.
 
jeb,

I added a chart with time scale also reflecting your entry.

For my style I don't mind buying high to sell higher.
An entry could be to early (trend was still down on the breakout).
Also the needed stop could be too wide?
 

Attachments

You must log in or register to reply here.
Back
Top