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A sh!tty up and down day, commiserations to all those who actually placed trades, myself included :)

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Yesterday was just horrible.

Today is shaping up to be a stinker too.

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S&P back up to resistance waiting for something new to push it up and over, if not then likely back down again.

FTSE and S&P Daily.

Dax and Dow H1;

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Posted (edited)

Wonder if PMI will stop the selloff :( A lot of resistance to going any higher, stalemate for weeks on end 😢

 

Germany 30_20200821_08.30.png

Edited by dmedin

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Another day of sheeeit, I've got to stop watching markets - just too depressing - and stick to mechanical trading.

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2 minutes ago, dmedin said:

Another day of sheeeit, I've got to stop watching markets - just too depressing - and stick to mechanical trading.

I always get the impression you only do long? is it?

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17 minutes ago, dmedin said:

Wonder if PMI will stop the selloff :( A lot of resistance to going any higher, stalemate for weeks on end 😢

 

Germany 30_20200821_08.30.png

 

German PMI data is bad, UK data is much better but still both going downwards.......

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13 minutes ago, dmedin said:

Wonder if PMI will stop the selloff :( A lot of resistance to going any higher, stalemate for weeks on end 😢

the expected US PMI is slight improvement over last month, but if comes in if is less than 50 could be in for a big drop Friday.

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17 minutes ago, RANZ said:

I always get the impression you only do long? is it?

Only long when the price is above 200 EMA :D 

 

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Posted (edited)

I mean, I don't do 5 minute charts going long and short based on incredibly fly-by-the-seat-of-your-pants signals, but maybe that's the only way to profit from 3 - 4 weeks of price going absolutely f*king nowhere (on hourly, 4 hour and daily charts)

Edited by dmedin

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Posted (edited)

@dmedinI've a naughty question to ask, are you a compulsive trader?

for me as well, 1 minute chart does nothing, I find hourly best. But then I don't do technical and fundamentals much I do more on patterns trading. 

Edited by RANZ
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2 minutes ago, RANZ said:

@dmedinI've a naughty question to ask, are you a compulsive trader?

for me as well, 1 minute chart does nothing, I find hourly best. But then I don't do technical and fundamentals much I do more on patterns trading. 

I am, and I struggle to find other things to do during the day to keep me occupied and away from trading :(

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'The trading industry needs a constant fresh supply of losers' - Dr Alexander Elder :D 

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14 minutes ago, dmedin said:

'The trading industry needs a constant fresh supply of losers' - Dr Alexander Elder :D 

doesn't actually need them, they're just a tasty snack before the big boys start taking bites out of each other.

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22 hours ago, dmedin said:

Here comes Nasdaq :)

SVH3VF03

 

This one was profitable, at least 😘

 

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27 minutes ago, dmedin said:

I am, and I struggle to find other things to do during the day to keep me occupied and away from trading :(

My routine includes playing a game of FreeCell to see if I have my wits about me and there is something useful in approaching the game by only moving a card when you are confident that it is an improvement. I usually have favored indices for going long or short and set price alarms as a visual reminder of an assessment at the beginning of the session. This week most of my time has been spent reading a book and only glancing at the charts every 15 min.

 

https://www.free-freecell-solitaire.com/

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Today is shaping up to be an even bigger stinker than Wednesday.  Devastating losses for me this week 😢 

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From FX pairs though, not indices.  Note to self: stop trying to trade forex :D

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No shorting.  Another unfruitful day for DJIA on the hourly time frame.  (In August there have been three trades signalled using my rules so far, and only one of them made money.  Yuck!)

RZl6YoHm

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Looks like the hourly time frame is no good for me, as I just don't have the patience for it.

And I've spent so much time looking at charts that I have very few skills that would make me employable elsewhere.

It's five minutes or bust - noose time :D 

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