Bloodhound
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I have the 5DMA at 7636.
The FTSE, which is stronger than anything else has already been rejected just below its 5DMA.
Anyway, stuff to do - I plan to be back in time for the fireworks. It could be a busy day.
minime69
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I was eager to do two trades in the past 20mins but left it. Patience my friend works!
One analysis was right another was wrong. The wrong analysis I shouldn't have taken anyway as it doesn't follow my strategy and the second one i should have as it does and was in for at least a 20point winner. But I think the patience is a very good thing let the market come to you and tell you what to do!
Keep it going!
Viks
wallstreet1928
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missed out on that 30 point short hey............
oh well there will be other opportunities.......
wallstreet1928
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im off to sleep .......
really really sleepy...........
really really sleepy...........
Bloodhound
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I'm guessing nothing's going to happen before US GDP??
tennisball
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morning gents - The ftse really likes to bouce off those overnight lows eh? It did that yesterday. Just got IG to let me trade small for another month - yay - I like IG!
I was just doing an analysis of how I should be playing the FTSE today I really should be up 40-50points today and at the moment I'm break even.
Reasons:
Some impatients
Not reading the support, resistence and trendlines properly.
Although I did make some points today following what i was meant to I lost it by putting on a trade I wasn't meant to.
Moral: Be Patient, Analyse the charts, Let the charts tell you when to enter and exit. Don't trade on a hunch! Don't get eager.
Considering how I started off and where I am now I think I'm showing great progress inmyself and promise for future trades.
Since the market seems to be pretty flat How's everybody else doing overall?
Viks
Reasons:
Some impatients
Not reading the support, resistence and trendlines properly.
Although I did make some points today following what i was meant to I lost it by putting on a trade I wasn't meant to.
Moral: Be Patient, Analyse the charts, Let the charts tell you when to enter and exit. Don't trade on a hunch! Don't get eager.
Considering how I started off and where I am now I think I'm showing great progress inmyself and promise for future trades.
Since the market seems to be pretty flat How's everybody else doing overall?
Viks
tennisball
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Seeing as how you are all generous to share your FTSE trades here, I'll make a quick disclosure - all prices are FTSE Futures:
Aggregate short from today: 3880
Target 1: 3790
Target 2: 3650
Stop: 4000
This is a multi day swing trade based on the double top at 3930 and subsequent price action. The other indicators I'm using are the Russell, a leading indicator that looks like death and the NDX which was holding the market up and is now technically quite weak. I'll scale in and out of the position at areas like Wednesday's low, the 5 day MA at 3855 and the VWAP as it develops. If the market tells me to dump the whole thing I'll be gone from it. That's the plan anyway.
So, an early good morning to you all. Many thanks for sharing your trades and the bit of banter. I'll do my best to reciprocate
Thanks buddy! I think the sharing of ideas here helps everyone a lot. I'm finding this board - this thread even - invaluable.
Bloodhound
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The FTSE is doing nothing and I'm doing nothing - roll on 1330....
minime69
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i should be down £930 if i had followed my system, and i was, but have made it back and down £15 only now.
tennisball
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They have a learning programme called "Tradesense" the lets you trade in fractions of a lot. It's a lifesaver. They crank up your minimum size over 6 weeks, I got mine reset as I missed a couple of weeks and the subsequent jump was more than I'm comfortable with. Just nosing above breakeven now and a big loss would hit my confidence.
i should be down £930 if i had followed my system, and i was, but have made it back and down £15 only now.
Nice!
Bloodhound
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In essence I am waiting for price to tell me what to do. As yet there are no clear signs that the market has any conviction (and probably won't until GDP comes out) so I'm just waiting
Def no trades yet today as there haven't been any clear signals for me to trade. I'm looking for basic price action set-ups off confluence of S/R and fib lines together with minus development and retests, patterns etc.
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