Ratman's beginner's set up and analysis

This is a discussion on Ratman's beginner's set up and analysis within the First Steps forums, part of the Reception category; From your chart, did you get into this overnight? I know the FTSE can be bet on all night, but ...

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Old Apr 7, 2009, 9:55pm   #155
Joined Oct 2008
From your chart, did you get into this overnight? I know the FTSE can be bet on all night, but I did this once, set a stop about 40 points away, watched the price slowly move up to my stop (even though the Nikkei and the Hang Seng were hardly moving, so 40 is a lot!), touch my stop to the tick (grrr) and then go back down to where I had entered. In other words, I believe that a spread bet would find it hard to screw you in normal hours, but overnight...I wouldn't trade the FTSE. Safety in numbers, and the spread is too big then.

Last edited by Calinor; Apr 7, 2009 at 10:35pm.
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Old Apr 7, 2009, 10:04pm   #156
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Originally Posted by Aaronmalins View Post
Some ****ing banker stole my money when i bought in on what later became that blue MA line. Be careful of false signals like this. If you see a lot of bearish PA then an amazing bullish streak that you think is too good to be true... it probably is.

I think the change that pin, the change in momentum on that hourly bar, and the daily trend mean we've seen the end of this current downtrend.

Only time will tell eh.
Jeez Aaron, you're so miles away with that in terms of analysis (and everything else) it's hard to say where to begin..
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Old Apr 8, 2009, 10:29am   #157
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Originally Posted by Black Swan View Post
Jeez Aaron, you're so miles away with that in terms of analysis (and everything else) it's hard to say where to begin..
really? whoops!

Look at the 7 o clock bar. Possible reversal no?
Watching at the time the 8 o clock bar opened and price kept pushing up. Didnt once trade below the open. I bought in at 7835 (after slippage/stops/ig spread) when the 6 o clock bar had been topped.
As soon as the price hit the 50 level instead of finding support it was massively rejected and closed at the 7 o clock open.
I wasn't using the MA i just couldn't be bothered drawing on my chart.

Was either a fake reversal or bullish trade (which I was a part of) just failed to gain momentum for the reversal.

Does what I was talking about make more sense now?

I was emotional yesterday lol.

If it wasn't some baker then who could have the influence to push the market price up to the 50? unless it was IG...

Last edited by Technically Fundamental; Apr 8, 2009 at 10:55am. Reason: I'm a t*t
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Old Apr 8, 2009, 7:19pm   #158
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Jeez Aaron, you're so miles away with that in terms of analysis (and everything else) it's hard to say where to begin..
If I told you how I've been trading since I went live you'd slap me. I hardly even drawn as much as a fib to be honest. Just been looking at candles like some sort of spaz. I'm getting act together now and making sure I wait for market to come to me before I even think about entering a trade. If I'm honest with myself I've been acting childishly excited and greedy. The result has been me throwing away everything I was learning and all the techniquesI was doing when I was profitable on my demo accounts and just jumping right in head first.
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Old Apr 8, 2009, 7:42pm   #159
 
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Originally Posted by Aaronmalins View Post
If I told you how I've been trading since I went live you'd slap me. I hardly even drawn as much as a fib to be honest. Just been looking at candles like some sort of spaz. I'm getting act together now and making sure I wait for market to come to me before I even think about entering a trade. If I'm honest with myself I've been acting childishly excited and greedy. The result has been me throwing away everything I was learning and all the techniquesI was doing when I was profitable on my demo accounts and just jumping right in head first.
When I switched to real money my trading took the biggest nosedive, followed by my confidence. I traded like a complete idiot. It is normal ...
I got out of it by trading minimum stakes, strict rules for every trade and kept a journal with a pic of the trades.
Nicola
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Old Apr 8, 2009, 8:01pm   #160
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Technically Fundamental started this thread really?

i need to get some trading books dont I
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Old Apr 9, 2009, 12:06pm   #161
 
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A journal is incredibly important for my trading. I've attached a sample of what I do for EVERY SINGLE TRADE. In excel I have a separate tab for each date, plus a trade summary that lists all my trades in a table, plus a balance sheet with money management stuff like equity curves, overall P&L, win % etc.

Obviously the trade entries aren't all this long. This one shows how much detail I go into on winners where trade management is key. I can look back and see whether my stoploss management was optimal. The stop management on this trade was OK, but I missed some clear chances to add to my position.

After a month I go back and review the trade and see where the market has gone, and add a 'hindsight' comment.

Anyway, this may or may not be of help to people on this thread. My journal has evolved over time to reflect my style as a trader and is possibly the major reason why I'm profitable.
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File Type: xls journal1.xls (388.5 KB, 130 views)
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