You looking at a 5min chart here?
You looking at a 5min chart here?
Hi Tim
Thanks for the reply. Yes, very "observant" of me lol - nosey you mean.
Good to hear you actually did ok, in the end.
The signal service I mentioned as it appears to have a track record that shows it has worked for some here, and could be just another income stream (should it continue to do so), perhaps just while you sort out a profitable strategy for yourself.
Why Uk stocks, by the way, when they don't really move compared to the ones you used to trade? Seems like a step backwards to me. Similarly this good thread - it'd be nice to have a sister thread, with the same strat, but for something that moves more and therefore may arguably have more profit potential - which leads us back to the Dow etc
Thanks.
I've got to be careful, here.
If I short at 3920 and it goes up to your optimum 3970 I would be stopped out, for sure. Certainly, I will be keeping to the 5 min TF for entry and looking for a pattern somewhere in that zone. I'm bearish, so that means that I am looking to sell into strength.If you use Fib lines--I don't, normally, but since we are talking about entry I though I'd look, the 50% is 3910 on the leg I'm looking at.
Anyway, Monday will tell us!
Split
Should be an interesting session. US closed strongly but Dow at least did not confirm swing low formation. FTSE SB prices are just where they were last night when US closed so not pricing in any further rise. Nevertheless, I am long, hoping to ride a correction as far as 4000 with a bit of luck.
Geofract
Experienced member
- Messages
- 1,483
- Likes
- 112
All quiet on the Swing trading front I see!
I was looking to go short on the FTSE 100 below 3870, though by Rivallands method, that would require a stop loss set to 4030. So I will try to find an intra day entry.
Hopefully there will be a move up tommorow, that I can sell into, but given I want to have a reasonably small stop loss - say 30 points max, then it could take a few trys to get it right. This is all presuming this leg up has concluded - we shall see.
Anyone out there in Swing trader land considering a short move?
Cheers, Ollie
I was looking to go short on the FTSE 100 below 3870, though by Rivallands method, that would require a stop loss set to 4030. So I will try to find an intra day entry.
Hopefully there will be a move up tommorow, that I can sell into, but given I want to have a reasonably small stop loss - say 30 points max, then it could take a few trys to get it right. This is all presuming this leg up has concluded - we shall see.
Anyone out there in Swing trader land considering a short move?
Cheers, Ollie
Geofract
Experienced member
- Messages
- 1,483
- Likes
- 112
Surely a break above 4030 would be very bullish. That would have killed the idea of a short swing trade for me anyway.
I am short from 3920.
Target TBC. Stop at B/E.
Have found diminishing returns from swing trading signals of various sorts lately so have got into a for of daytrading that allows me to dip in and out of the market whilst working at desk on other things. OK so far but too soon for full evaluation, but at least no overnight positions.
Geofract
Experienced member
- Messages
- 1,483
- Likes
- 112
Stopped out for BE.
There was an opportunity to re-enter short at 3940, but I'd had enough by then. Given the wild swings on price today, I think I was better off out anyway.
I'll look for another entry, if I can find the time and patience :whistling
Agreed, may tone my expectations to 4020s and get out. What's giving you the confidence to go short at 3920?
Geofract
Experienced member
- Messages
- 1,483
- Likes
- 112
I am flat on FTSE now Churchie.
What Swing method are you using btw - Rivalland?
I am using the Rivalland method, but also trying to integrate some stuff from Robert Fischer too.
Ollie
OOer not following another's methodology. I am using a combination of Day end data, using stochastics, volume and P+F to make decisions. Looking to stay in trades from 3-5 days, but happy to take profits when they come.
This revealing response then leads me to my next question. I have been day trading for two years with flat results at best so I am trying swing trading as a means to discipline myself and not be impulsive as this is what has prevented me from retaining my successes.
I have been advised to inwardly digest Rivalland's book and I know that Sharescope include Rivalland charts in their packages. Is Robert Fischer a different approach or something I should look to move to once I have done my homework on Rivalland?
This revealing response then leads me to my next question. I have been day trading for two years with flat results at best so I am trying swing trading as a means to discipline myself and not be impulsive as this is what has prevented me from retaining my successes.
I have been advised to inwardly digest Rivalland's book and I know that Sharescope include Rivalland charts in their packages. Is Robert Fischer a different approach or something I should look to move to once I have done my homework on Rivalland?
barjon
Legendary member
- Messages
- 10,752
- Likes
- 1,863
Hi guys
Sorry to have deserted the thread but, like tommo and split, I've been concentrating on the intraday stuff.
Short signalled at around 3875 (underwater atm) and some may have been caught by a false short signal lower down (yellow circle).
fwiw I think the Rivalland method is a sound approach, but it's a pretty blunt instrument and benefits from some sensible discretion. For example, I don't like to enter when the price just staggers through entry point and I like it supported by a bit of oomph (momentum)
good trading
jon
Sorry to have deserted the thread but, like tommo and split, I've been concentrating on the intraday stuff.
Short signalled at around 3875 (underwater atm
) and some may have been caught by a false short signal lower down (yellow circle).fwiw I think the Rivalland method is a sound approach, but it's a pretty blunt instrument and benefits from some sensible discretion. For example, I don't like to enter when the price just staggers through entry point and I like it supported by a bit of oomph (momentum)
good trading
jon
Attachments
I am looking to get back into the swings, day trading strategy appears to be all worked out, and it looks to me as if the market is starting to resume a more 'normal' appearance/behaviour. A prolonged ranging period would not surprise me now.
Long-term, swing trading has to be a winner, and the three-day rule approach is good most occasions. The exit is always a matter of debate but I can stand leaving profits on the table. What really hurts though is when you get long as the market falls or short as it rises. I need to take a more critical view of the entry signals and seek confirmation from at least candlestick patterns, possibly also RSI etc., whatever works really.
Long-term, swing trading has to be a winner, and the three-day rule approach is good most occasions. The exit is always a matter of debate but I can stand leaving profits on the table. What really hurts though is when you get long as the market falls or short as it rises. I need to take a more critical view of the entry signals and seek confirmation from at least candlestick patterns, possibly also RSI etc., whatever works really.
For Tuesday 14/04 -
a) a day late to enter long at 3940, but I would give it a crack. Price might drop within Wednesday's range (very possible as Dow not showing any progress) and offer this as a late long opportunity but I will only take that if price then re-climbs out through 3940. Depending where we open that could make for an ugly looking candlestick on which to go long so unlikely.
b) going short if we breach 3876 and show a bearish candlestick, preferably with a close below that level.
Let's see what the week brings.....
a) a day late to enter long at 3940, but I would give it a crack. Price might drop within Wednesday's range (very possible as Dow not showing any progress) and offer this as a late long opportunity but I will only take that if price then re-climbs out through 3940. Depending where we open that could make for an ugly looking candlestick on which to go long so unlikely.
b) going short if we breach 3876 and show a bearish candlestick, preferably with a close below that level.
Let's see what the week brings.....
