Making £8k a month on the FTSE

[mrptraderman]

only when indicators tell me and applying my system rules

 

[wallstreet1928]

keep it up mate...well done to you considering the level of your experience!

I'm impressed!!

If you don't mind can you PM me your entry/exit rules and the indicators that you are using?

 

[wallstreet1928]

it will help a rookie like me to cross reference and add/amend anything that I am doing in my trading plan....

we are constantly learning off on another

 

[Trader1UK]

Hope it goes real well for ya...

 

[mrptraderman]

No need for my system today i expect everyone did well with such easy ftse moves in ups and downs today. Will update details in morning

 

[mattonline]

hey mr trader man, i'm new to this whole investing thing, and i've signed up to a demo account on the site you recomended capital spreads, and just experimenting at the moment, its really fun! made alot of money with google spreadbetting and also lost alot on other bets, my question is how much did you start with, was it £200? and what kind of spread bets did you make at the begining? as when i was making money with google i had to deposit a few thousand and when i'm betting with starbucks etc its only about £100 and i don't have the kind of money to spreadbet with google in real life.

so any pointers here, of you and anyone else would be great!
thanks again

 

[mrptraderman]

Yes i started with £200 and i find capital spreads ok but also have an account with igindex. I have read in these forums over the last few days that capital spreads sometimes dont activate or stop trades in a timely manner sometimes especially if your successful. This is naught if they do that but i have not experienced it yet. My system uses stops of 15 points and i take anything from 10 points upwards. This means with £1 a bet i took about £100 in the first week and the second. I then took it up to £2 a point as the bank was now £400.This has totally been on the ftse nothing else. Hope i have answered your questions if not let me know and i will try again.

 

[dazz]

Hi,

In most mechanical systems the entry exit respond well to high range periods which are being experienced while youve been running your system.
However there will be periods when the market ranges and turns will be less and you will then get losing days.
I would suggest you note the 15 day average High Low ranges, you could then check your trading results against. If you keep the records up to date and notice less profit when ranges are lower you will know the reasoning why and could adjust staking for those periods.
Also I would check your trading losses now your keeping better records if avoiding certain trading periods durring the day; for example the last hour and 1st 30 mins in the morning.
This may increase profit and help avoid losing trades.

How this helps and good luck.

Dazz

 

[mrptraderman]

Daz

thanks for that great feedback. I do notice that on periods during the day it flattens. What i have found during those periods is because im in a trade the trade doesnt hit either stop or profit points and a trade can last say 1 hr. ( i do many trades a day) After this the market moves and i either win or loose. So at least i dont loose very often during those times. I am in the testing mode at the moment but will look closely at the weeks data and see if anything pops out. I am finding the more i do this and find improvements the less trades im loosing. Thanks so very much for your help. So back to the data and see what it shows. I have found that up till 8am the market is so indecisive that most of the initial loosing trades were between 7 and 8am so now i only start after 8. You can also see when morning coffee is and lunch. The great one i have found and a nice one for everyone (most probably telling just about everyone how to suck eggs here) is 2.30 when the dow comes on. The ftse normally goes up or down significantly. I wait for this every day and always have a great trade.
Thanks again.
Mr P

 

[tripleogstar]

Daz

thanks for that great feedback. I do notice that on periods during the day it flattens. What i have found during those periods is because im in a trade the trade doesnt hit either stop or profit points and a trade can last say 1 hr. ( i do many trades a day) After this the market moves and i either win or loose. So at least i dont loose very often during those times. I am in the testing mode at the moment but will look closely at the weeks data and see if anything pops out. I am finding the more i do this and find improvements the less trades im loosing. Thanks so very much for your help. So back to the data and see what it shows. I have found that up till 8am the market is so indecisive that most of the initial loosing trades were between 7 and 8am so now i only start after 8. You can also see when morning coffee is and lunch. The great one i have found and a nice one for everyone (most probably telling just about everyone how to suck eggs here) is 2.30 when the dow comes on. The ftse normally goes up or down significantly. I wait for this every day and always have a great trade.
Thanks again.
Mr P

Mate, you still aint answered people's questions about what tools you use to make your trading decisions. Can you be more precise, not just 'averages'etc. What moving averages do you use, what indicators give you your signals etc

 

[mrptraderman]

its difficult to explain it in words as even though signals simple, rules and how i detect it is not but i will give the bones for signals. I use 12, 14 and 25 averages as line graphs they are called ma on the ig and capital graph. Where 12 and 14 cross trade shows. 25 gives prevailing direction but use directional indicator aswell to confirm. So examples. e.g take yesterday 8.33 12 14 crossed direction went red to green 25 on way up but direction showed green bit hesitant waited till next bar direction bigger green so trade. FTSE went up 40 points. Next example 13.30 12 and 14 crossed direction hit roof green buy ftse went up 35 points.Next example 14.57 12 and 14 crossed direction significantly red sell. Ftse went down 25 points if you held your nerve with 15 point trailing stop it went down about 75 points minus 15 trailing loss is 60 points. And theres lots more but even if i took these three big directional signals only i would have made plenty. Now my system is far more refined than this with my rules etc and gives me lots more winning trades but this is my knowledge and want to refine it before sending it out to the rest of the world. So now you have it.

 

[yacarob1]

mrptraderman

Don't know if you have already mentioned this but what chart time-frame (s) do you use ?

 

[mrptraderman]

mrptraderman

Don't know if you have already mentioned this but what chart time-frame (s) do you use ?

i like it fast and furious so 1 min

 

[Trader1UK]

its difficult to explain it in words as even though signals simple, rules and how i detect it is not but i will give the bones for signals. I use 12, 14 and 25 averages as line graphs they are called ma on the ig and capital graph. Where 12 and 14 cross trade shows. 25 gives prevailing direction but use directional indicator aswell to confirm. So examples. e.g take yesterday 8.33 12 14 crossed direction went red to green 25 on way up but direction showed green bit hesitant waited till next bar direction bigger green so trade. FTSE went up 40 points. Next example 13.30 12 and 14 crossed direction hit roof green buy ftse went up 35 points.Next example 14.57 12 and 14 crossed direction significantly red sell. Ftse went down 25 points if you held your nerve with 15 point trailing stop it went down about 75 points minus 15 trailing loss is 60 points. And theres lots more but even if i took these three big directional signals only i would have made plenty. Now my system is far more refined than this with my rules etc and gives me lots more winning trades but this is my knowledge and want to refine it before sending it out to the rest of the world. So now you have it.

Thanks Mr P,

Do you also use Macd, stochastics, RSI, or any other indicators?

Are you looking at just the 1 min chart or do you also look at longer timeframes? eg. 5min, 10min, 15min... ?

Thanks

 

[mrptraderman]

No these are what i use and always 1 min chart. I am toying with macd at the moment to see if they are of any use. its always good when you post. I do look at the overall trend the previous day. I also have noticed on my iphone ( there is a page which shows all major indices) that when one goes grren they all do more times than not so you tend to know what type of day you may get. Let me explain if i look at it now the figures are dji -148.15 ftse -40.47 gdaxi -89.76 N225 -257.19 ftas -18.61. So if one goes the others tend to aswell. I use this knowledge quite a lot. thanks again

 

[wallstreet1928]

what is your outlook for the FTSE on Monday according to your system?

is it telling you to go long or short?

i opened a position short FTSE 4125 ...stop loss 4155!! target 4090 / 4050

what do you think according to your analysis or should i say "well oiled money making machine"...huh hum!!

 

[Trader1UK]

Thanks MrP.
Yes i tend to look at overall indices too... gives an overall view of what the markets are doing... but getting in at the right time and right direction is difficult sometimes...

 

[vchohan]

hi MrP

I've read this whole thread and I have to say my profit strategy is very close to yours however my signals are slightly different but doing well. Your places more trades in the day where mine places a few less than yours. I make at least £10 on every trade and a max loss of £10 on a trade. However, my win loss ratio is in considerable more favour in the win.

I'm glad to see your strategy is working well for you. I'm still in the process of tweaking my strategy but the basics are there and i must say it does take great discipline for it to actually work.

I started with about £30 and made it up to £130ish in a few days. I've had very small losses. For me my strategy is working.

I spread bet with ODL Markets at 50p per point at the moment. Once i get to £250 I will bet £1 a share and also cash out £150.

How long have you been spreadbetting this strategy?
How long have you been into trading for?

Viks

 

[wallstreet1928]

i'm thinking of opening an account fro my friends to learn, how good is ODL mate and how much money do you have to deposit initially?

are you sure your allowed to open with £30?

 

[francisfinley]

i'm thinking of opening an account fro my friends to learn, how good is ODL mate and how much money do you have to deposit initially?

are you sure your allowed to open with £30?

use a demo account and trade as you would with real money, this is something you have to do religiously, create a working tested system and stick to it. go for one market and learn inside out. screw using real money until you do.