Any Ideas on direction of the ALSI ?

[#1]

Who trades the alsi longterm?

[Mar-11]

the dollar taking some heat with Bens comments...

[#3]

Good call on the long Mark, I had to go do some stuff left trade with stop..well tm another day

[Mar-11]

Frost im not judging you and i dont think im a suprior trader, but i do believe that this is continous learning proccess..(so we can all help each other learn, this is something i battled with so will share )... the problem with discritionary trading as opposed to mechanical trading is that it becomes quite subjective....i find we are most likely to make a mistake or break our rules after a highly profitable trade....(euphoria takes over and one gets the feeling of knowing what the mkt is going to do, paying very little attention to signals etc...) ....yes this is elamentary but even experinced traders have lapse in concetration.....the NB thing is to catch urself doing it make a note and take actions to ensure it wont happen again......ONE MUST BECOME TRUELY EMOTIONALESS, i now spend more time training this, than any other part of my trading......

[#5]

Marc I agree with what you said,and understand what you are trying to say.this week was a very profitable week for me, two trades netted me over a 1000 points..I do have a system and a set of rules that I use..If my system says trade I trade with the most important rule a stop loss, I only lost 20 points on yesterdays short trade..It could have been 200 if I didn't stick to my rules..making a loss is part of the game,and if I don't I know there is something wrong.Like Simon mentioned psychology plays an important part!I also want to add that I post my trades so that others will do the same, and enjoy others views on the market, and in no way do I encourage people to trade the same way as me, but to use the info here to make informed decisions..

[Mar-11]

yes, i have mentioned before that one should never trade on what anybody says...especailly when you dont know stop loss/target/time horizon/even exact entry.......stick to ur system...alternative views keep me honest..more NB thne members giving confirmation....

[richardw]

I have often left a position on the ALSI open for days, and a few times weeks. E.g. during the Japanese incident where I was sure it was temporarily affecting the market, I was happy to keep at least one contract open permanently and then 'tweak' it intraday by adding/reducing as the situation allows. Pay extra interest, sure, but that was nothing compared to the size of the overall move.

[Mar-11]

symmetrical triangle, starting wave E...il be toping up at bootom

[FEK]

Technicians what is upside target for alsi top40 for today ?

[#10]

Mark i would like to have your opinion on the alsi daily graph. First do u think we are trading a triangle? Second do u think we completed wave e of the triangle on tuesday?Hammer candle. Do u also think that we might see a trust out of the triangle if we break 29060 to the upside?

[Mar-11]

where candles do u-turns on lines that meet other lines

[Mar-11]

yes i still see triangle as bigger corrective wave 4 before big wave 5 to all time hieghs, i see the highest probability that we are wave d up at moment, before E to retest bottom ao decending trinagle before wave 5 up....but not exact science and if trend line breaks we may well be in wave 5 up....i will only go short once i get a full confirmation that wave e has began to retest bottom...but for now still hold little long....

[Mar-11]

the earlier sysmetrical triangle that i was refering to was 5 min, as not to get confused with the above daily anaylsis

[#14]

Keep in mind that the wave e seldom travels to the trendline.Thats why i think we already completed the wave e on tuesday.I also hear that they talking about QE3.Maybe thrust out of triangle when bernanke calls QE3.

[Mar-11]

yip, and thats why still long(but increasing/decreasing holding all the time)...sysmetrical 5 min break out wave e didnt extend to bottom, daily well may do same thing...either way gotta be prebared and aware of alternative views and outcomes

[#16]

No i see it but thats very short term.I just wanted your opinion on the longer term.As for today i am still not sure whether long or short.SP500 at resistance at 61 %.Might turn out a short for today.The triangle u see is very sharp and i am not sure whether it is going to break to the upside.Just my opinion.

[FEK]

So what are the potential target points today ?

[Mar-11]

5 min candle starting at 1140 wave e...an short trap

[#19]

Ja nee kyk to go long at this point is just looking for a black eye..risk on the long side is very high so be careful!

[Mar-11]

look i feel the short, but my analysis tells me long...im not saying its a highly probable trade(and this my size accordingly)....