Day Trading the Dow Jones

This is a thread for anyone who trades the Dow, or is interested in trading the Dow. I will be day trading during the US session and will post my live trades and anything else relevant.

I am a part-time novice trader, and will be trading micro lots risking no more than 1% of my account on each trade, the main aim of which is to learn as I go along, unless of course, it is a complete disaster and I wipe out my account within weeks!

Experienced and novice traders are more than welcome.

Hope to see some of you during the coming weeks/months.

Slepoy

 

We don't trade futures. But we often trade $DIA, the ETF that tracks the DJIA, and often trade options on $DIA.

BMK

 

I will definitely follow your thread.
Intraday, even if I really like the NQ future, I can't consistently make money with it. I think the Dow (YM) is much more predictable and more accessible, at least for me.
Good luck!

 

Thanks Fonz. Like I said, I'm new to this, but I've been watching the Dow and I like the way it moves. I'll be trading tight with low risk. Bound to make loads of mistakes but view the money I'm bound to lose as an investment for the future, a bit like college I guess. I'm hoping posting my trades live will give me the discipline I need.

Really big level it reached on Friday as well, just below the all-time high, and this big resistance at around 31,200 which has held so far this year, is now the test. I reckon if it sends the Dow back down, we could be in for some significant downtime. If it breaks above it, well, the skies the limit. We'll see.

 

Care to elaborate on the differences you've found between NQ/YM?

 

I think the Dow react very well to pivot points. Also, intraday moves are "cleaner" IMO: NQ is made with strong moves inside ranges and then a trend, and then weird moves inside ranges, etc. A range chart make more sense for the NQ.

Look at the 2 (Tradestation) charts: For illustration, they both are 15min, show "the yesterday Close", begin at 09:30 and ends at 4:15pm Est.
The white MA is actually made with ATRs and the colored candles are made with MACDs and I think ADX (please don't ask details about that as I am not a coder..)
And as a discretionary trader, I think the moves and nervousness of the NQ are very exiting: Definitely not what I need: I need predictability, not excitement

 

Might enter a short around R2 pivot ( 31,342 )

 

No short set up yet, and it's now broken higher, so short off the table atm.

 

Couple of very bearish looking candles on the 15m tf. I've missed my entry opportunity, so I'll have to sit this out unless it pulls back a bit.