Member Info for elroytrader

settling in fine, farmer. Next step is to get the kids into nursery. I love them to bits, but they don't half get in the way when I'm trying to concentrate. And end up blaming the bad trades on them! LOL. Got to blame someone.

Morning, Farmer. To adopt your methods I'd need very deep pockets, or very big balls. Or both, in which case the ladies would love me. :))

thanks for the reply, joe. And totally understand if you don't want to post your %win. Was just curious if using less popular methods avoided the whipsaws - would stop me going grey! Yesterday I was trying momentum trades at popular levels so whipsaws were to be expected, as was the stress. Actually trying to use them to my advantage, but that will take a lot of practice. See you for more madness on Friday.

nice to see everyone happy tonight. I missed the start of the action due to bedtime stories for the little 'un. Tried to jump on for the ride 3 times (on the Dow) and each time was down by 30 points in the space of a minute. Still did OK, but had to work for those points. Joe - echo, Jona's sentiments. Nice charts, and pretty original (to me, anyway). The more original, the less prone to whipsaws. What's your %WIN, if you don't mind me asking? ANd MT4 - do you have to subscribe to download data for the charts? I have a copy, but didn't want the extra expense. Thanks in advance.

Thanks, farmer. Just banked 50 off a momentum trade when 725 broke. 780 is actually the area where the old weekly trendline is lingering.

jona - internet down again, m8? I've been researching a bit about exit strategies using the new MAs I'm using. 5, 8 and 13. Bollinger mid should actually be on 13, not 8 as I said previously. In strong trends exit on break of 8. Medium strength exit on break of 13 as price will often travel to other BB extreme. If BB is flattening and is pierced, exit. Been using it on 2min charts today to fine tune entry and exit on 10mins. Seems OK, but need to practice a bit.

well, farmer - you predicted it Monday morning, so hope you had a long on from the lows. Last time it tried to fill it stopped at 744, funnily enough where an old gap was.

Euro looking perky now. Anyone catch the Silver trade? I'd set an alert, but kids got in the way.

morning all. With all the BS around, pretty hard to find direction. Euro needs to break 720, and FTSE 5376 before we get some proper movement North. Got my eye on Silver again. Forming a wee cup and handle on the 10min and is wedged right between daily trendline and hourly descending wedge resistance. Right on breakout now at 4020.

OK< scrap the last post. All that will happen tomorrow. ;))

well, for what it's worth, IMO the DOW looks to be consolidating at the moment, ready to push through 11525 in the last hour. When that's broken properly 11700 should come fairly quickly and FTSE will gap fill. As for the Euro, I H+S forming with neckline on gap resistance around 720. Target 793, 2 points off gap fill.

long for the third time on FTSE. That gap wants to be filled, but Dow bound to struggle with 11525, and wee resistance at 5374.

just got incredibly lucky with Silver - 30 points in a few minutes after she broke through the trendline again.

the power of gaps, eh? The Dow charged up to fill Sunday night's, then straight back down to fill today's! Interestingly, the FTSE faltered at gap resistance.

Hi Jona - I suppose it depends on the volatility. I was burned using 100 point stops, but that was around 6 months ago when a 5min bar could be 100 points. Seems to have calmed down a bit now. Just closed another re-test for 20 points. See you tomorrow (internet connection permitting!).

nothing like the yank's last hour to liven up an evening. Few scalps near gap resistance and will keep one on for the sell off.

Crude worth a look. Broke its ascending wedge to the downside and re-tested like a good 'un. Also some big moves on Silver, which broke its trendline. Not confirmed yet, so will be watching closely.

closed for 40. Going to study now, but will be back around 5pm, just in case papandreou drops a clanger.

on fire today CW! I'm short on DJ 295. Can't sit on my hands for long.

Well, could have had more, but TTFPYC! Euro short closed for 170 and clean slate. Some valuable lessons learned over the last week.