Hello i have been trading now for a week straight and want to make sure im heading in the right direction. I know the us30 is in an overall uptrend but i also see in the hourly its in a down so here are my thoughts on whats happening and what it plans to do. I also have where i would be buying//selling. All criticism is much appreciated thank you. I have been doing best on easy simple and clean charts going with my intuition im not a fan of over complicated analysis but let me know what you think.
as far as the Dow, I have been trading since Jan and lost a lot of my money. many many lessons. It has definitely been bullish overall. all the advice I get says don't short indices or predict where the market is going. In my time I have learned this is a mighty manipulated design. I have an app with all 30 companies and track how many are negative. trading during a fed talk is volatile. this week the market has been so slow I think it is a big trap. something corrective is coming.
BullishTurtle
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@offgridder, i appreciate your comment, one thing ive been trying to get better as is keeping up with news and things that are happening but its hard to wrap my head around where and what to pay attention to. What app is it that you have ? That sounds like an easy way to start paying attention to the business side of things instead of price action. I only trade when the price breaks out and scalp when it does but i find myself waiting hours for an entry that sometimes never comes but i think patience is key and i know i need to be very careful ill make sure i always have a stop loss only time ive burned a demo account is not having a stop loss and having emotions involved and rushing.
offgridder
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When you look up ideas for US30, there are several to choose from. I find less people look at this option. you may want to post under the Oanda option.