All things FTSE

[Splitlink]

Me, too. However, I think that we must realise that shorting, at present, is trading against the trend. I'm down 25 points, this morning, trying to do that.

I hope that you have better luck

Split

 

[demontaz]

Yeah, it is risky going against it but I have rules which I follow and if it says SHORT I must take it. My TA said reverse so I did, so now I am LONG but it is still hovering around the SHORT / LONG entry area

 

[Splitlink]

I've got rules like that, too, and have had 5 trades this morning The consolation is that I averaged 5pt loss per trade, so I am not the type to hang on when they go sour.
One lesson learned, at least!

Take care, I don't think I'll do any more today, although I just might!

Split

 

[demontaz]

Call me Mr. Yoyo today

Now SHORT again @ 6593.8 (last trade -3.5)

Hopefully we will get some movement in my direction I need to make +8 to breakeven for the day. Kinda sucks...

If it can open and close below the 20 EMA we might be in business for the short, it's on the 20 at the moment

 

[demontaz]

Nfp

How does the FTSE react to the NFP report?

 

[demontaz]

FTSE bounced off the 55 EMA for the third time today on the 5 minute chart. If it breaks it we have, I think, a nice short.

I am still SHORT @ 6593.8 from just before the NFP news, was hoping for the bad USD data to tank the DOW and take the FTSE with it...

 

[SwoopingVulture]

Just dropping in to say I've been reading everyones' posts and I'm finding it fascinating to read peoples' reasons for getting in and out.

I SB UK stocks but have been thinking about trading the FTSE and this has really given me food for thought.

Keep it up guys!:cheesy:

 

[demontaz]

Just dropping in to say I've been reading everyones' posts and I'm finding it fascinating to read peoples' reasons for getting in and out.

I SB UK stocks but have been thinking about trading the FTSE and this has really given me food for thought.

Keep it up guys!:cheesy:

Welcome aboard SwoopingVulture

Look forward to hearing about your analysis and strategies for the UK stocks. I trade them sometimes.

Jay

 

[SwoopingVulture]

Thanks Jay.

Currently long in Experian. Bought at 578 at the start of the week and it is now at 596. It seems to be a very good share for trading at the moment. Hopefully waiting until it hits 612ish (fingers crossed) resistance before getting out.

 

[demontaz]

Thanks Jay.

Currently long in Experian. Bought at 578 at the start of the week and it is now at 596. It seems to be a very good share for trading at the moment. Hopefully waiting until it hits 612ish (fingers crossed) resistance before getting out.

Good job on the Experian trade :cheesy: What technical analysis do you use?

 

[SwoopingVulture]

Good job on the Experian trade :cheesy: What technical analysis do you use?

Thanks, law of averages says it can happen sometimes!

With individual shares I spreadbet monthly but i tend to be in and out in around a week or so.

I can look at the charts at night and i look for stocks that are stuck in a fairly wide channel. When i find one that does this then i wait for it to hit a support line. I use stochastics and look for a crossover in oversold territory. Volume can sometimes give an indication as well as RSI.

Of course, if it starts going wrong at any point I think "screw the chart" and get out!

MACD seems to be a better indicator for entry on the FTSE and perhaps using stochastics for exit? Interested in your thoughts. Do you have a regular point of entry or can you hold off until 11 for the perfect spot?

 

[Ziff]

Stephen - are you creating a weekly thread ?

 

[smccreedy]

My intention was to keep this one going but I'm open minded to other people's suggestions.

Hope everyone had a good BH weekend.

Back to business. I shorted the FTSE(Jun Fut) around 6600 and exited around 11 points in profit.

I'm trying to be more discerning this week with my entries and aim to trade less but I'll see how I get on.

Want to zoom out a little and use the hourly chart and see how I get on.

I think the problem is if you're sitting in front of your comp all day you feel compelled to trade through boredom. Interesting that a lot of the richest traders trade only a few times a week when something perfect sets up.

I think patience is something most of us on here could do with using a little more.

Problem is finding something else to do instead!

I'm sure practicing an hourly set up, placing the orders and walking away would yield better results in the end and whats more it is a system that going forward would to doable with larger size, the way I trade in and out at the moment isn't upscalable to the same degree as maybe buying or selling the ftse with a couple of day's plan.

Still we'll see, old habits are hard to break so we'll see.

Stephen

 

[demontaz]

Pain train

Morning all,

Had a good BH weekend wakeboarding down south in Kent. Weather was horrible but got some new moves under my belt :cheesy: Feeling the pain now though...

Anyways, on to business, I am SHORT @ 6593.3 and have locked in +14 so far.

Here's to a good week trading

 

[demontaz]

Thanks, law of averages says it can happen sometimes!

With individual shares I spreadbet monthly but i tend to be in and out in around a week or so.

I can look at the charts at night and i look for stocks that are stuck in a fairly wide channel. When i find one that does this then i wait for it to hit a support line. I use stochastics and look for a crossover in oversold territory. Volume can sometimes give an indication as well as RSI.

Of course, if it starts going wrong at any point I think "screw the chart" and get out!

MACD seems to be a better indicator for entry on the FTSE and perhaps using stochastics for exit? Interested in your thoughts. Do you have a regular point of entry or can you hold off until 11 for the perfect spot?

Hi Swooping,

Sounds like to have a plan and stick to it How do you find your setups? Do you have a few that you track?

With regards to the FTSE, I use the MACD for entries, have also now added the RSi to help with false signals. Exits are using a manual trailing stop, usually between 8 - 12 points

 

[Ziff]

You trade the cash index demon ?

 

[demontaz]

You trade the cash index demon ?

Yes I do Ziff

 

[smccreedy]

Hi demontaz when you say you use MACD for entry and exit in what way do you mean?

Do you look for divergence or literally buy on a cross from low level up and sell on a cross from high level down.

Ste

 

[demontaz]

Hi demontaz when you say you use MACD for entry and exit in what way do you mean?

Do you look for divergence or literally buy on a cross from low level up and sell on a cross from high level down.

Ste

I Buy and Sell on the crosses with a RSI above or below 50 confirmation on the 5 minute chart

My last trade posted above was stopped and reversed for +17 and stupidly went long for a -10 :-(

So +7 for today so far

 

[lurkerlurker]

Hi all

Attempted an short entry at 6569 (Cash) but wasn't filled. Still keeping the limit open. Anyone here with undeclared positions.

I think short term we have a downtrend, and I am looking to sell on pullbacks.