Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[SuddenDeath]

I had bought some ftse may 4500 calls for 7 and sold them at 11, now they are worth 39

 

[stefan10]

4309 and short the footsie future

Lacking solid strenth, it wants to move higher but not enough confedence.

just seems to me the footsie always follows the dow

 

[KTF]

With the main markets approaching their 200 MA's and a fair whack overbought, think this will be a fine shorting opp....
Thought stress test results were out tomorrow after close but old geezer on CNBC reckons could be this arvo??

 

[Geofract]

Yet again all the fib extension targets were hit, only my expectations of meeting 4320/30 yesterday were a day early! Back to the drawng board for me I've marked all the waves I measured with W1, W2, W3, to identify relavant swing high/lows.

Now we're at the top of the black channel, stretching up from 21st April - 3900 area. Bouncing of it now, maybe it will break through. WTFDIK!

I'm not trading anything now, still waiting for long term short setup, but I don't think this is quite the top yet.

Have a good day all.

 

[lapalabra]

Yet again all the fib extension targets were hit, only my expectations of meeting 4320/30 yesterday were a day early! Back to the drawng board for me I've marked all the waves I measured with W1, W2, W3, to identify relavant swing high/lows.

Now we're at the top of the black channel, stretching up from 21st April - 3900 area. Bouncing of it now, maybe it will break through. WTFDIK!

I'm not trading anything now, still waiting for long term short setup, but I don't think this is quite the top yet.

Have a good day all.

Nice analysis Geo - very illuminating!

 

[Geofract]

Nice analysis Geo - very illuminating!

Thanks Lapalabra - you can rep my post if you like The way I'm going I'll get to 1000+ posts with no rep! No ego here of course

 

[francisfinley]

Oh sounds useful, what kind of indicators do u use and what kind of thing do you alert? Also, is it easy to add a second screen?

that is a francisfinley secret!

btw does anyone use a 1 tick FTSE broker? im looking at capital spreads - why?

a) because IG wont give me a flippin normal account some guaranteed well charge you 9ticks per trade
b) futuresbetting minimum doofer is £10 per point

 

[craigrobinson]

that is a francisfinley secret!

btw does anyone use a 1 tick FTSE broker? im looking at capital spreads - why?

a) because IG wont give me a flippin normal account some guaranteed well charge you 9ticks per trade
b) futuresbetting minimum doofer is £10 per point

Etradespreadbetting do 1 tick FTSE during the main open hours for minimum of £1 a point, even a little bit around the open too I think. I think its the same company as capital spreads too, certainly the same interface.

 

[cadoganpier]

I use capital spreads, very helpful bunch and the few (too many) occasions their site has glitched they have been prepared to refund me what I lost when I couldnt close positions, unlike IG their FTSE closes at 21:00 and reopens at 07:00 ( this does allow you to place some pretty hairy trades which can be very good but you run the risk of getting gapped if you get it wrong regardless of stop loss). I trade the opeing in this way 2 or three times a week when I see a clear trend.

 

[Occam]

that is a francisfinley secret!

btw does anyone use a 1 tick FTSE broker? im looking at capital spreads - why?

a) because IG wont give me a flippin normal account some guaranteed well charge you 9ticks per trade
b) futuresbetting minimum doofer is £10 per point

Had the same issue with IG - nice platform but for some reason I am not deemed worthy to have an account where there is a possibility of making money. Guaranteed stop losses are great if free but that extra spread kills it for me.

I'm using ODL Markets and ShortsandLongs - both have 1 tick on FTSE and in the case of S&L free guaranteed stop losses. S&L also have a £300 sign up deal going on at the moment.

Hope that helps.

 

[francisfinley]

Had the same issue with IG - nice platform but for some reason I am not deemed worthy to have an account where there is a possibility of making money. Guaranteed stop losses are great if free but that extra spread kills it for me.

I'm using ODL Markets and ShortsandLongs - both have 1 tick on FTSE and in the case of S&L free guaranteed stop losses. S&L also have a £300 sign up deal going on at the moment.

Hope that helps.

mate if ODL do one tick im definitely doign that. built my own metatrader system over the last 3 days and tested it im sweeeeeeet.

i was saying on another board i might start a thread with all the decent spreadbet places and places where you can take advantage of opening account freebies etc like moneysavingexpert.com





posted this on the spreadbetting forum too

"can anyone recommend a 1 tick FTSE spreadbetting platform?

I like the iii/cityindex platform style where you bet with a quick hit button to enter a trade and a simple close button to exit.

i dont like the cmc style where to exit a position you have to open an order in the opposite direction.

any ideas would be greatly appreciated.

i have tried IG index but they will only give me a guaranteed loss account as im such a noob.

and futuresbetting is £10 min per tick. no can do."

 

[stefan10]

I'm not trading anything now, still waiting for long term short setup, but I don't think this is quite the top yet.

Have a good day all.[/QUOTE]


Are you in the same mind frame that i am ie once the bank results come out tommorow then we will see the top and to short from that point on ?

 

[Geofract]

Are you in the same mind frame that i am ie once the bank results come out tommorow then we will see the top and to short from that point on ?

Hi Stefan

I think some of the bank stress test results have been leaked already. No idea when we will see the top, it could be now, could be next week, so I'm trying not to have too many preconcieved ideas.

WFIW, Right now, my strat would be to wait for the breakdown of the up channel we're in now, and short the retracement, whilst looking for pin bars, bearish engulfing bars, IB's, etc. Plus watching the fibs as always.

HTH a little

There could be a nice short now though... pin bar on the hourly. Plus triangle forming on 10m chart.

 

[Geofract]

There could be a nice short now though... pin bar on the hourly. Plus triangle forming on 10m chart.

Triangle broke to the upside... no to the short right now.

 

[stefan10]

made a nice 28 points shorting the dow today from 8500 area, happy because i mostly lose on the dow as im a newbie n still learning.

whatsthe pin bar on the 10 min chart you talk about?

 

[Geofract]

made a nice 28 points shorting the dow today from 8500 area, happy because i mostly lose on the dow as im a newbie n still learning.

whatsthe pin bar on the 10 min chart you talk about?

+28, that's cool!

A pin bar is a candlestick with a very very small body, and long nose, the body should be either at the top or the bottom of the candle, and traded in the opposite direction to the nose. It's quite like a hammer I think. It was on the 1 hr.

It was then followed by bunch of opposing pinbars, so I probably shouldn't have even mentioned it. It would have been a crud trade.

 

[dr.blix]

apologies for the nOOb question, but is out of hours index chart info equally valid for S & R, trendlines etc?

 

[dr.blix]

Yet again all the fib extension targets were hit

what period MAs are you using on that chart geo?

are they simple, expo?

 

[Geofract]

what period MAs are you using on that chart geo?

are they simple, expo?

Evening Dr!

10, 21, 50, all expo. Not sure how useful they're yet - more an experiment right now.

I started messing around with linear regression on price today - looks like it could be more useful than MA's - Juries out though.

As for 24hr charts and trend lines, etc, I prefer 24hr, as I like to see what happened over night, and there doesn't seem to be a problem with trendlines. I have my pivots set to HLC2*C/4, and they always seem to line up fine.

I know Wallstreet uses market hours only, or at least he was - good for seeing gaps, if you like to fade them. I think it can work from a TA perspective with either time settings.

Happy trading.

 

[SuddenDeath]

good morning everyone