FTSE100 & S&P - SB Daily Cash System

[bangkoker]

All the best Xeno',
Take care,

 

[wackypete2]

Sorry to hear that. I wish you well.

Peter

 

[c0py]

PART 2

1. Buy low
2. Sell high

 

[Xenophobia]

Have not had the time to do part 2 because my son is poorly but hes doing fine just now. So I will work on part 2 this week and have it posted up by Monday.

 

[Xenophobia]

will also try and make some videos

 

[bangkoker]

Oh well I hope things continue to improve and look forward to hearing to more about the system.

 

[Xenophobia]

Part 2

PART 2

Okay in part 2 I want to talk about exits and also trying to filter out weaker signals.

Please remember that these are only guides!

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Take a look at the chart above. I'm only interested from 08:00 I can see volatility on the rise and price is below the 100 TEMA not only that price has also broke Tuesdays low clean.

For me this is a clear shorting chance I can't see any bullish action anywhere.

My signal to enter comes between 09:15 - 09:25 depending on how you want to play it. I often enter on active candles but to play it safe you should wait for the close of candles with the bollinger%b closing below the signal line.

MY stops are real basic. I alway place them above/below the swing high/low thats at the other side on the TEMA or the swing high/low that touched the TEMA. In this case my stop was at 5330 at 09:00 high. Entry was 5313.

I have had a lot of PM's about exits. Well I have discretion on my side here but I do also have mechanical exits and they are as follows.

• Time stops
  
• % of value stop
  
• volatility stop
  
• bollinger%b stop
  

I'm going to explain each exit.

1: TIME STOPS

This is real easy and quick to explain. If in a trade and no targets have been hit OR any of my other exits methods then I will use the TIIME EXIT and that is to close out win/lose/draw at 12:00pm UK time. No crying no moaning just exit at lunch time as volume drys up and London tends to sit back before the U.S.A opens later.

2: % OF VALUE

I always keep an eye on this type of exit. The way to use this is to exit when price hits 0.4% of the value of the instrument that you are trading.
So if I enter FTSE 100 short at 5330 then I wil exit the trade(if using this exit) when price hits 21 points profit. 5330 x 0.4% = 21.

3: Volatility Exit

Another real easy exit method. When the bollinger%b crosses out of the over bought or sold depending on the direction I;m trading in and VOLATILITY is falling or flat then I will exit the trade.

4: Bollinger Exit

This is another bollinger exit and one I tend not to use that much but do keep my eye on it when maybe another exit method has been triggered from above.
If the bollinger % b crosses out of over bought/sold and then moves above the 50% level and one of the other exits has also triggered such as % value or volatility falling or very near the time stop time of day then an exit should be made.


Again these are only guides and disrection is needed I have always said that from day one!

MORE TO FOLLOW...

 

[Xenophobia]

Video

http://www.youtube.com/watch?v=0StC8d0NWls

 

[Xenophobia]

My microphone is a little £3 cheap one and very distorted did you understand the video and would you like to see more.

I dont know if it helped.

 

[Mata Nui]

Thanks for this. I am new to spreadbeting and have been trying this for the past few days. Its looking good but my biggest problem is letting things run. I tend to watch the monitor and pull things as soon as they start going the other way. What sort of win/loss ratio do you get with this and about how many trades do you do in a day?

Edit -
The posting about the exits really helps. Hope things are better for you and your little one.

 

[Xenophobia]

I had a PM from a member who said I sounded like a black American:clap:

Well that is because I'm African American

But never the less, he also asked about trouble setting up the bollinger signal. I will show how to do this in the next video.

 

[Xenophobia]

Thanks for this. I am new to spreadbeting and have been trying this for the past few days. Its looking good but my biggest problem is letting things run. I tend to watch the monitor and pull things as soon as they start going the other way. What sort of win/loss ratio do you get with this and about how many trades do you do in a day?

Edit -
The posting about the exits really helps. Hope things are better for you and your little one.

Thank you dude!

I don't really want to go down the path of giving strike rates because I have said a few times that discretion is a factor and everyone will be different. My strike rate is high because I created the system and understand its mechanics. But for someone using this for the first few weeks then there strike rate will be a little smaller but still should be above 60% winners if sticking to the basic rules.

Of course I still have more to add to this system in the coming days and weeks you won’t learn this in 24 hours even as simple as it seems. But hey we will get there.

I will try and post up some live trade videos if that helps.

 

[bangkoker]

Thanks Xeno',:smart:

Nice clear video (even with 3 quid mike),

You mention the stop at swing high, EMA. I guess that then remains fixed and you are not too concerned about the price penetrating the EMA as long as below your original stop? Or if you were already in profit would you use this as an exit. Just curious. Loving this so far.

 

[Xenophobia]

Thanks Xeno',:smart:

Nice clear video (even with 3 quid mike),

You mention the stop at swing high, EMA. I guess that then remains fixed and you are not too concerned about the price penetrating the EMA as long as below your original stop? Or if you were already in profit would you use this as an exit. Just curious. Loving this so far.

I don't bother about price breaking the MA aslong as volatility is rising and the bollinger%b remains below the 50% level or none of the other exit methods have triggered.

I tend to only shoot for 20 or 30 points on the FTSE 100 as thats all it tend to give you per trade which is 0.4/0.5% of the value if that makes sence.

 

[Xenophobia]

In fact I would suggest making an exit or taking part profit when price hits 0.4 / 0.5% of the FTSE value.

Today 0.4% was 21 points, thats great take it!

I only trade the FTSE and the S&P sometimes but mostly the FTSE I always do £10-£15 a point with stops no more than 20 points and I do around £1,000 / £2,000 a week.

 

[bangkoker]

In fact I would suggest making an exit or taking part profit when price hits 0.4 / 0.5% of the FTSE value.

Today 0.4% was 21 points, thats great take it!

I only trade the FTSE and the S&P sometimes but mostly the FTSE I always do £10-£15 a point with stops no more than 20 points and I do around £1,000 / £2,000 a week.

Yes perfectly clear, nice work:clap:

 

[advfntrader]

sounds a nice method, will try it out over the next few weeks

 

[Xenophobia]

Following the basic rules I have outlined here so far FTSE gave a nice neat trade today.

08:00 entry. Volatility on the rise. Price above the TEMA. Bollinger entry long signal.

This was a basic set up and clean trade.

 

[advfntrader]

where can you get these indicators for Metatrader ?

 

[Xenophobia]

where can you get these indicators for Metatrader ?

No idea. I use prorealtime charts.