Reply To: Technical Index Trading & Analysis

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#3440
RS2OOO
Keymaster

Hi Bracke,

Good to see some other life on here!

Agree that times seem dangerous, even though the charts don’t look dangerous at first glance.

I’ve had a few, well, a lot of trades that don’t even go a single pip in my favour to cover the spread cost before suddenly being 100+ points under water!

However, price is overlapping itself considerably so despite something looking really bad initially, most trades I have managed to hold out to eventually take breakeven or a small loss or a small gain.

It does seem the key to surviving this is small affordable stakes (learnt that the hard way mind).

I covered a USD:JPY short at the very highest pip it went to before selling off in mid November, and I closed a NZD:JPY long at the lowest pip it went to (18th Nov) before it rallied hard. Sometimes I wonder, how is this even possible to nail the highest or lowest pip before a major trend change against you!

As for that DOW long, I sat through it yesterday (it went to -135 points), then couldn’t believe it when it showed a profit this morning so put the stop at b/e which was eventually taken out.

I shorted DOW earlier today at 17,803 with 120 point stop. It was only a 50p position. Literally got home 20 minutes ago and closed it at 17,443 to take +360 points profit! I was half expecting to see it still around the breakeven level, couldn’t believe it when I saw almost £200 profit and had to double check it really was a 50p stake!