Ftse100

[Lee Shepherd]

Lee can you explain what you are doing with those trend lines on your chart:?:

Hi mate,

There just examples and where drawn in after the event for hindsight purposes.

As you know I traded that anyway but with a different set of indicators. No one set is better than another, just depends on whats happening at the current time with the market.

As an example of those trend lines, you need two points to draw a line so from entry you know exactly where its been trending, this is of course in hindsight, however, you can use this same example to give an indication of future performance in that timeframe, if it breaks, then be aware and keep your stops tight.

Note: dont attempt to reverse the trade, although the markets only go up or down they also have a tendency to do both in a relative short period of time. To reverse you can easily get caught out on a false break and end up as what's known as chasing the market, some times you'll get lucky but mostly you'll go bust chasing your ass.

 

[price777999]

Short at 43265, let's see what happens.

good call mate ........ ,looked like it could go ether way when i looked at it , now it lookes like a head and shoulders pattern ...
did you just take your pivot point from the left shoulder:?:

 

[Lee Shepherd]

good call mate ........ ,looked like it could go ether way when i looked at it , now it lookes like a head and shoulders pattern ...
did you just take your pivot point from the left shoulder:?:

Head and shoulders is not the only tool people use, in fact there are literally hundreds of thousands of different setups.

I personally dont use head and shoulders, I just want to trade and go.

Remember, the head and shoulders you see on one time frame may not be there in another. Also, when do you get in, after the event? when theres one shoulder?, what about one shoulder and a head waiting for the other to form???

Sorry dude, I just dont buy that set up, you show me a head and shoulders pattern that has been traded in foresight(not after the event) and I'll show you many a one shoulder and head set up that failed.

As you can tell, I dont like head and shoulders.

 

[price777999]

i just couldn't figure out which way it was gona go ......so was wondering how he came to his decision .

 

[price777999]

hey shepard are you still using this stoch setting ?working well for ya ?