Todays positions, any takers?

#1
Going to go short Oil and S&P this morning.
Oil had a great topping pattern and all indicators seem like we will be going lower.
Though i'm quite bearish currently on equities. I have a feeling market might do nothing significant for a day or so.

I hope i am wrong.

Cheers.
 
#3
Savant,

Predictions for tomorrow will have to be determined on what the charts and the indicators say tonight.

but for now, i will put a stop on my positions as follows: Oil at 94.25 and S&P at 1380.

I know these are very wide stops but it will work with my risk management.

If the market takes a dump like this i might have to build on these positions
 

SavantGarde

Well-Known Member
#4
Any topping out patterns must have evidence of distribution ....accompanied by general complacency in the market....which is yet to be witnessed...!!!

SG
 
#5
I hear you.

But i just program automated systems, back test them and if it has great expectancy, i trade them. The oil trade was Automated. the S&P was more of a personal swing trade. The only reason i was skeptical was based on volumes and smarts dirction.
 

SavantGarde

Well-Known Member
#6
I hear you.

But i just program automated systems, back test them and if it has great expectancy, i trade them. The oil trade was Automated. the S&P was more of a personal swing trade. The only reason i was skeptical was based on volumes and smarts dirction.
Never really paid much attention to volumes....and with advent of HFT....it has become a little more redundant....what with Quote padding and various ploys to Trap.....marginal Traders with ideal setups and etc....!!!

My programming ability is Nil, what else one can expect from a 12th dropout...:) .....for the Indian market it is only Bid & Ask...for others I do have the luxury of charting....but is normally on the Hourly.... & just Trade Traps....!!!


SG
 

SavantGarde

Well-Known Member
#8
Ha, what do you normally trade?
Started with Derivatives in the Indian Market around August of 2004....got bored and looking for something more challenging, that is when decided to Trade FX and Commodities Mid 2009 ...if I remember correctly.....Sadly it proved to be easier than trading Indian Markets....but pressure from GF whose ever growing need for the greenback ...I still trade a few hours in the evenings.....!!!

Nothing exotic....just the ones that I think and can understand....:)

Have an account with MB Trading...!!!


SG
 

Similar threads

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

Name:Phone:
Email:City:
State:
Are you a day trader?