Ftse Professional Scalping

This is a discussion on Ftse Professional Scalping within the Indices forums, part of the Markets category; Apology accepted. The attached is how I find a trade but as I specialise in the CCI and understand the ...

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Old May 21, 2008, 1:10pm   #17
 
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Accepted

2George started this thread Apology accepted.
The attached is how I find a trade but as I specialise in the CCI and understand the hidden S&R levels it gives this document is ONLY my first step.
I also use trendlines on the OPEN price of a candle - and it ignores all other candles and spikes.
These two items together reduce dramatically the amount of bad trades.
Trading is a jigsaw and I put together the pieces that I understand first, then the rest of the chart becomes easier to control.
You will see I use more than one indicator and I only use momentum indicators.
Good luck.
George

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Originally Posted by tightstops View Post
im sorry im actually very interested can you show me a few trades you have planned over the next few days or let me know about them as youre making them?
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Old May 21, 2008, 1:16pm   #18
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good luck in controlling the chart. so when does the free one week trial start?
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Old May 21, 2008, 1:29pm   #19
 
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2George started this thread I was attaching a word doc for you to show you how I identify trades when another ignorant post came in.
I will not help these offensive people so I will PM you.
I am retired and have not the time to give full time but I will help you as long as you wish, not just over a week as a week is nothing.
G
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good luck in controlling the chart. so when does the free one week trial start?
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Old May 21, 2008, 1:44pm   #20
 
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ohh come on George let us all in on it ....
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Old May 21, 2008, 2:46pm   #21
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i dont know if youre aware george but a guy called mp6843 or something similar spent a lot of someones money claiming to be some kind of guru so showing a chart of a trade that worked out well counts for nothing. i think most people have had a few successful trades at some point. so it makes sense for anyone thinking of risking money on what you say to be sure its unlikely to just dissapear. a reasonably sized sample of trades would do this but based on whats been said so far i think its clear that wont be happening any time soon for obvious reasons
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Old May 21, 2008, 3:58pm   #22
 
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Jigsaw

2George started this thread Trading is such a complex jigsaw I did not wish this thread to be used as a training thread.
My intention was to find someone who could trade profitably to start with and give them my advice on where to improve. When they had improved they could trade some of my funds for a good commission.
I hestitate to put up the 'too obvious' to some and the 'too complex' for others but as long as I do not get drawn into long explanations I have added an attachment to show how I enter and exit trades.
There are several ways to be profitable but if the trader is patient, wait for the market to come to you then you should not go wrong if you have a good system.
Sadly there are some who have had bad experiences and I am sorry for them. THIS IS NO EXCUSE FOR IGNORANCE AND RUDENESS.
I use CCI divergence as the FIRST signal for an entry. I have prepared a word doc to illustrate this.
Secondly I use trendlines only on OPEN prices in association with the CCI indicator.
Thirdly I use at least one other momentum oscillator depending on what timeframe chart I use.
The 2 other oscillators I use are the Price Oscillator set on 10/30 ema's and stochastics set on 8-3-3. These also show divergence but it is important to know that they all are used as confirmers and not as entry indicators.
Specific indicators are excellent BUT the trader MUST, MUST, MUST understand the indicator. Divergence is normal sometimes and the best friend you have ever had at other times. It is hugely important to recognise the different types.
I wish all of you good luck.
George
"Trade what you see and not what you hear or hope."
Attached Files
File Type: doc The Commodity Channel Index.doc (93.5 KB, 680 views)
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Old May 21, 2008, 4:43pm   #23
 
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Originally Posted by tightstops View Post
i dont know if youre aware george but a guy called mp6843 or something similar spent a lot of someones money claiming to be some kind of guru so showing a chart of a trade that worked out well counts for nothing. i think most people have had a few successful trades at some point. so it makes sense for anyone thinking of risking money on what you say to be sure its unlikely to just dissapear. a reasonably sized sample of trades would do this but based on whats been said so far i think its clear that wont be happening any time soon for obvious reasons
People who know whats what's and what's not, don't use indicators....or Spread Betting.
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Thanks! The following members like this post: grantx , Aspire
Old May 21, 2008, 5:10pm   #24
 
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Originally Posted by new_trader View Post
People who know whats what's and what's not, don't use indicators....or Spread Betting.
Obviously I know nothing then.

I wouldn't trade indicator signals - however then can be very useful for predicting resistance levels on a pullback.
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