Day Trade the FTSE

[datav]

ftse was quite kind today. Blue arrow for entry, red for exit. When CCI and CCI average cross, then look for entry. Exits managed by either a 100% repeat of prior swing or S&R levels which are prior days OHLC and traditional pivot point, R1 R2 etc which are solid horizontal lines.

 

[datav]

Ive been trading the ftse for 3 years now and it moves just as much as anything else. I have found that it helps to have a couple of other markes as well in case it hits the doldrums. I have the Euro-dollar (6E), german Bund and the FTSE. Between the 3 of them, there are plenty of opportunities.

It usually does, that's why any serious trader would never trade it

 

[datav]

taking candy....

Days like today come too rarely. They are always the charts you see posted. Makes it look easy

Ive been trading the ftse for 3 years now and it moves just as much as anything else. I have found that it helps to have a couple of other markes as well in case it hits the doldrums. I have the Euro-dollar (6E), german Bund and the FTSE. Between the 3 of them, there are plenty of opportunities.

 

[minime69]

have only just seen this thread, hope to join in soon.

 

[Shaun12uk]

Was very fortunate I think to catch the ride short today for 100 points and closed the trade early than I should have.
Maybe begginers luck!!!!

Any how intersting to see what happens tomorrow as it breached the low of 4121 and closed nearly 30 points above the 50 day MA.
Any one any ideas?

Maybe just treading water before the CPI and RPI figures tomorrow.

 

[bertie123]

DATAV,

Have just located this thread and was wondering if you could post your FTSE 100 strategy? I am new to trading the \ftse and would be obliged if some more experienced traders could give me some advice. As someone who has tinkered with indicators for a long time, I totally agree that it is all about discipline and price action.

berti

 

[bertie123]

Does anyone here use MA's or other indicators for entry/exit on their FTSe strategy?

 

[minime69]

check this thread bertie.

http://www.trade2win.com/boards/swi...followers-how-good-has-last-quarter-been.html

 

[Chelski]

check this thread bertie.

http://www.trade2win.com/boards/swi...followers-how-good-has-last-quarter-been.html

Anyone get that nice pull back around 4pm?

 

[datav]

Going Long....

Not easy to explain method in a few lines..(which it should be, I need to work on that) but here.s a chart. Look at the divergence on the CCI and the Donchian channel to provide a framework. The idea is that if a divergence occurs and the price bounces off the DC then there's a good chance it will get to the opposite DC. Look up these indicators on the web for a full explanation of how to interpret them. The range of the first 2 hours is useful to find targets. The fibonnacci extensions from this period give us some good targets for later in the day. I often use the DC mid line as a stop

DATAV,

Have just located this thread and was wondering if you could post your FTSE 100 strategy? I am new to trading the \ftse and would be obliged if some more experienced traders could give me some advice. As someone who has tinkered with indicators for a long time, I totally agree that it is all about discipline and price action.

berti

 

[Shaun12uk]

Does anyone here use MA's or other indicators for entry/exit on their FTSe strategy?

Is anyone using multiple time frames to daytrade the FTSE?
I think there could be some benefit to using 1min for entries and then monitor
on say 5min chart to confirm the main trend. New to this multiple time frame but it makes sense for timing entries and main trends.

 

[wallstreet1928]

Is anyone using multiple time frames to daytrade the FTSE?
I think there could be some benefit to using 1min for entries and then monitor
on say 5min chart to confirm the main trend. New to this multiple time frame but it makes sense for timing entries and main trends.

yes mate you are spot on

 

[ceydababy]

Is anyone using multiple time frames to daytrade the FTSE?
I think there could be some benefit to using 1min for entries and then monitor
on say 5min chart to confirm the main trend. New to this multiple time frame but it makes sense for timing entries and main trends.

Using 10min with a 1min. No indicators at all. Price action only. Trading 1 minute in 10 minute direction..It works.

 

[bertie123]

Using 10min with a 1min. No indicators at all. Price action only. Trading 1 minute in 10 minute direction..It works.

I attended a free seminar before xmas and a guy who did a presentation told the audience that his strategy for trading the FTSE was as simple as putting a buy stop above the high and a sell stop below the low at 12pm each day, and claimed that it worked 3 or 4 days a week and he made money consistently. He did not say anything about targets/stops/exits but was adamant that he made money doing this. Just wondering if anyone has tried this, and, if so, is this a viable strategy?

 

[bertie123]

Guys,

Forgot to ask, do you trade purely on the price action setups or do you also pay attention to the fundamentals\economic news etc?

 

[neil]

I attended a free seminar before xmas and a guy who did a presentation told the audience that his strategy for trading the FTSE was as simple as putting a buy stop above the high and a sell stop below the low at 12pm each day, and claimed that it worked 3 or 4 days a week and he made money consistently. He did not say anything about targets/stops/exits but was adamant that he made money doing this. Just wondering if anyone has tried this, and, if so, is this a viable strategy?

Bertie, why don't you try the 12 noon strategy and post charts here as part of a traders learning journal ?:idea:

 

[bertie123]

Bertie, why don't you try the 12 noon strategy and post charts here as part of a traders learning journal ?:idea:

Neil,

Had not thought of that but will consider it as I am about to try out this strategy with some small stakes using fairly tight stops. Only problem I can see is the exit strategy as it does seem to get you into a lot of profitable positions, but when do you get out.
Will post all of my trades\progress from next week.

berti

 

[Dentalfloss]

bertie.its easier to backtest the strategy

 

[tomorton]

bertie123 - My glance back over charts suggests this won't work. I have been looking at a 2% gain / stop and get less than 50% success rate, though only looked back a month on SB charts. Even more disappointingly, the converse strategy (i.e. selling the high and buying the low) also has less than 50% success over same period.

Maybe you can refine the approach and make it work but it sounds highly dubious to me.

 

[bertie123]

Tom,

Thanks for your input. I am trying this out as it was recommended by a 'trader' at a (free) trading seminar, although he did not explain the details of the system? Am trying to refine it a bit by not taking blind entries but using confirming price action where appropriate. Will keep progress posted here. Although I have to agree with your sentiment that it seems a bit dubious.