the joys of day trading

[#1]

Holy c.... over 1000 points in wild back and forth swings in the last 20 minutes. I recon a lot of day traders lost a lot of money just now!

[Rams]

well, its pancakes, so no trades but i agree, 50 point stops will not help with these swings. Had a short but had to exit manually as there was no time to put in the stop, so overshot by about 20 points.Not in until US open.

[#3]

there has been a 600 point move today - and you call that pancakes? The FTSE has gone from being 1% up to 0.8% down - and now up again - that is a pretty wild swing in my books!

[kwagga]

Without much direction and volatile. I believe this is bad news for virtually all index system traders. It's a gamble out there. Some will win and some will loose. Not worth the effort for me right now. Let's wait for some proper support or resistance breaks before we commit.

[Rams]

When I am not in the market, it's pancakes. When, the market takes you out and then moves in your direction, experience will teach you it's best to stay out. The last two days was the opposite , stops were not required, the market moved in your direction taking you out at targets. Lesson, some days you win big, other days, you lose, keep those losses small.

[koos2]

but, is 42000 or there-abouts not weekly support? bounced of it 4 times already.

[orange68]

SMALL trades on 5-10 min charts can make a reasonable profit

[koos2]

Test yourself , look into the abyss , the boiling cauldron of molten lava that is the alsi. They said this was fun. My name is Koos2 and i am a junkie.

[Rams]

Yeah, there will be an eruption.....soon

[Rams]

US futures strong open..but ALSI still swinging, with spreads up to 50 points at times.So keeping my stop at break-even.

[#11]

US is closed today...

[koos2]

Hehehehehe!

[Rams]

Yes, Martin Luther King day... been tracking futures.

[#14]

you call it a flat day on a 1000 point rally, you track a market thats closed and were still waiting for your xmas rally to 46000....
sometimes its ok not to post, just saying

[Rams]

well, i dont know about that, but i just managed 300 points tracking a closed market with a 50 point spread!

[Rams]

All markets green today...

[Rams]

Us futures open down, but with US closed yesterday, no clear direction yet.

[koos2]

the oracle is strangely absent...