95% winning system that all the newbies do teach us

[glyder]

Hi Beatt
I have a system that is very successful for me but i do once a day step out of that rigid system and have a bit of fun on the ftse. I normally win easily on it but for everyone who fancies picking up anything between 10 and 40 points most days im going to tell it warts and all. The advanced guys possibly know it but i haven't seen it written anywhere (or maybe they don't). Now then no matter what for the next 18 months we are going to have unstable situations so great for big swings and grabbing lots of points as i am doing. Here is for the newbies to make some money without having to do the opposite of what you were planning to see if it works cos im going to tell you to do both. At 2.30 every day the dow traders really come on stream in the U.S.A the ftse very often goes one way or the other quite significantly. When 2.30 comes look where the 1 minute candle closes. Then place a double trade i use capital spreads, place both a buy and sell signal with entry point 8 pips above or below that close position. Make it a contingent trade its a simple click on the trade confirmed box.so both are linked i.e if one opens the other closes. Put a 15 point stop on each. Take an example yesterday at 2.30 the minute candle closed at 4267.8 i placed both trades and as normal it went rocketing away for a short time. The ftse actually went up where i closed the trade at 4309.0 at 14:50 hrs a cracking 34 points and over 300 quid in the bank for 30 mins work. Try monitoring it over the next few days and see. This tip could make you lots i hope it does for you. remember once in the trade keep an eye on directional movement once it starts loosing power and you see the trade topping or bottoming take it.
Regards
Mr P

Mr P,
On the face of it that looks a good alternative or addition, to 'trading the fade' on Dow.
Of course the SB firms compensate for futures changes on dow.these do not always translate to the 2.30 price but the SB firms do not immediately switch to real time market prices for dow. They ease into it over 5-15 mins. However,SB FTSE quotes must follow real market FTSE prices, so at 2.30 theres a kind of arbitrage opportunity and thats what your system exploits.
Sounds a good one. I'll take a look.

 

[mrptraderman]

Ah great another 12 points for the bag sorry for leaving fast but £120 is £120.

Ok lets try again
1. I have found that at 2.30 pm the dow very often makes the ftse move significantly for a short time before it settles back down again
2. I trade this phenomenen very successfully. In the last 5 trading days it has given me wins every day totalling 185 points
3. Wherever the ftse is a 2.30 exactly i set 2 trades up one at 8 points below if it goes down and one 8 points above if it goes up. This costs nothing unless one is triggered.
4. To do this follow these steps on capital spreads
a. click on the blue order button by the ftse
b.on new order box click buy and put in figure 8 points higher than current level and your stake
c. click on the OCO box click sell and put in figure 8 points lower than current level and your stake
press confirm and thats it
5. when you see the trade levelling off take the money.

Coopster, i agree with your last sentence, very good.

I hope now it has been explained simply.
Mr P

 

[mrptraderman]

Hope you guys were in on that one my trailing stop came in at 18 points so a few more than i just said. I just realised i gave a tip live and guess what my ronseal baby worked. It did what it says on the tin

MrP

 

[2George]

95%?

I agree that newbies teach us but it is through the questions they ask.
It is through being questioned that good traders adapt and become better.
My advice is to learn about divergence first and, to use set trap trendlines as chart management.
95% may be achievable in day-trading but to get 19 trades correct and profitable out of 20 trades is a wonderful record.
I only know one trader who is close to this and he asked a lot of questions on his way to achieving his goal!
Good luck.
George
"Trade what you see and not what you hear or hope"

 

[vchohan]

Random sort of question: Between or at what times does the FTSE100 move in one direction up or down during the day?

I've noticed between about 11.30 and about 1ish the market is not doing this much.

 

[mrptraderman]

I have noticed the same seems like the traders come in 7 a.m have a cuppa, some meetings thats why the ftse often is a bit unusual up down . Then 8am they seem to start and we get good action till 11 ish its cup of tea time money in bag for morning and off to lunchlunch, then pregnant pause until old usa wake up at 2.30 then away we go. I know this is simplistic but it normally seems to happen and i trade this 8 hrs every day so know it quite well.
Mr P

 

[glyder]

++**

 

[mrptraderman]

trust today it didnt work but at least the reverse signal came in quick to cut the trade. opening was 4219.0 so set entry at 4211 it then went down to 4205 so 6 points winning and then the directional movement reversal came in so cut trade and i got out at 4211 so lost 1 point on the spread. Ah well wait till tomorrow.

 

[vchohan]

had the same result on that one.

 

[beatt]

mrptraderman: do you have like 5 profitable days with this strategy? or do you trade it for a longer time?

 

[beatt]

95% may be achievable in day-trading but to get 19 trades correct and profitable out of 20 trades is a wonderful record.
I only know one trader who is close to this and he asked a lot of questions on his way to achieving his goal!

Sorry, by 95% I didn't mean the winning/loosing ratio of each trade. I mean the overall probability of having your portfolio balance in profits in the end. I don't care about each trade if the balance will be positive. I am now learning to really like systems with many small losses and huge profits.

 

[vchohan]

trust today it didnt work but at least the reverse signal came in quick to cut the trade. opening was 4219.0 so set entry at 4211 it then went down to 4205 so 6 points winning and then the directional movement reversal came in so cut trade and i got out at 4211 so lost 1 point on the spread. Ah well wait till tomorrow.

you should try it for the morning trade at 8am but i'd suggest setting a monetary target for it. I think 15 to 25 points will do but you decide. Have a look at the past data let me know what you think.

Viks

 

[Mr Squirrel]

...and they said i never give anything away anyway we will leave those pathetic few to the other thread... Mr P

Hello Mr P,

I am one of the silent majority you refer to as "those pathetic few" on "the other thread". See http://www.trade2win.com/boards/general-trading-chat/51864-making-8k-month-ftse.html.

Whilst I don't dispute the claims you made there, in your own words, you still kept 20% of your method "secret". I am still wondering what the purpose of that thread was? It created a lot of interest, as you would expect from such a title, yet I don't beleive it had any substance. To be honest, I found it little more than bragging, which has no place anywhere, least of all on a great site such as this which offers information freely!

I think it was wrong of you to lead hopeful newbies (and more experienced members) up the garden path as you did. Not because I think anyone serious about trading should be copying any system as such, but they would have an interest in knowing what your system is based on and how it worked. The best thing you could do in my opinion is request that the thread be closed, so that no more disappointment is added to the current 32 pages.

To everyone else, I would especially recommend trader_dante's thread below. It's not a system, but a brilliant understanding of price action and how to use it, as well as sound trading information in general. It's very long, but stick with it, as it's well worth the read!

http://www.trade2win.com/boards/first-steps/26947-making-money-trading.html

Kind regards,

Stephen