Day Trade the FTSE

I didn't trade Tuesday, the best day, and I'm up 73 points this week and only trade in the mornings. A big improvement from trading shares!

I should slaughter those guys who have been saying that trading the FT with spreadbetters is a mug's game! I've been listening all this time,

Split
 
Nice going Slitlink. I agree. Much easier to get a feel for the overall sentiment of the 100 top companies than it is to try to follow individual companies with fundamental analysis.

So, our initial trade this morning looks OK now. Took some heat and were almost stopped out by a whisker, but now in the black. Be careful around the S1 5882, which coincides with the index low of yesterday. If we break that then theres a pretty clear run down to 5858-64
 
datav said:
Nice going Slitlink. I agree. Much easier to get a feel for the overall sentiment of the 100 top companies than it is to try to follow individual companies with fundamental analysis.

So, our initial trade this morning looks OK now. Took some heat and were almost stopped out by a whisker, but now in the black. Be careful around the S1 5882, which coincides with the index low of yesterday. If we break that then theres a pretty clear run down to 5858-64
Click to expand...

I've missed this short- just too fast for me! See if I can get in on rally, later.

Editing this at 0940. I might as well get my moans all on one post :cry: To-day seems to be a dead loss for me- just can't seem to enter.. I'll watch it for an opportunity but I'm not hoping for much.

There's quite a lot of support around here on the Daily, so be careful.

Split
 
Last edited:
Key time frame here. Will either turn round or go south in the next 10 minutes
 
target 5853 (S2) or 5821 for you SB traders. THis coincides with the 200 MA, and several lows over the last week, so it will stop here for sure.
 
So, nice start to the day. averaged 23 point profit. Not very interested in long trades. Dont want to trade against the trend. Bear in mind though that every other market is still in bullish mode and has not broken tend since July. Only the FTSE is flat
 
mikewilliams said:
i have been observing the ftse and noticed that when using pivot points these appear to be significant turning points or consolidation levels. I am only looking to average 10 points on the ftse daily . i have been using a 5 min chart but not sure whether to move to a 15 mins to filter out any minor movements. some good advice is needed. thanks :confused:
Click to expand...

Hi Mike, A good policy is to look at 2 or 3 time frames simultaneously. I have 5 min, 15 min and 60 minute charts of the same market side by side. The 60min trend is a filter, so only take trades in the direction of the 60 min trend. The 15 min is the set up,and when a set up occurs, go to the 5 min for pinpointing your entry and exit
 
datav said:
Hi Mike, A good policy is to look at 2 or 3 time frames simultaneously. I have 5 min, 15 min and 60 minute charts of the same market side by side. The 60min trend is a filter, so only take trades in the direction of the 60 min trend. The 15 min is the set up,and when a set up occurs, go to the 5 min for pinpointing your entry and exit
Click to expand...

I work with the same timescales. I have a 4H aswell for swing trades. Missed the bounce from 5821. Won't be interested again until price hits 5871 / 73 when I'll be keeping an eye out for a short depending on how the Dow is performing. Good thread Guys.
 
datav said:
target 5853 (S2) or 5821 for you SB traders. THis coincides with the 200 MA, and several lows over the last week, so it will stop here for sure.
Click to expand...

What time frame are you using datav ?
 
Zinger said:
What time frame are you using datav ?
Click to expand...

I think you have to look at several time frames concurrently to get a good picture of what is happening. Pretty good guess at the bottom, though I say it who shouldn't Only 2 index points short :LOL:
 
Closed out that trade, too. Loss 4.2 points. Knocking off- I think I'm safer at work. :)

Holiday for me on Monday so intend to trade all day.

Split
 
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