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

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lapalabra said:
Great stuff, I can see the pullback where you got on board - me too, but I can't hang around because I have flu, so closed out for a sensible profit and I'm off to die quietly -good luck
Click to expand...

hope you're feeling better soon sa...

(or maybe not if you're using it as a trading tool!)
 
lapalabra said:
Great stuff, I can see the pullback where you got on board - me too, but I can't hang around because I have flu, so closed out for a sensible profit and I'm off to die quietly -good luck
Click to expand...

Get well soon! It's not that Mexican stuff, I hope.

Dr Blix: Fair enough. Trend following, like I do, has its drawbacks in a whipsaw market,
but a trend like today compensates.

Good trading
 
dr.blix said:
so you average up on your position size when it's respected your upper channel (in a down t) lapa?
Click to expand...

Hey DB - I don't know what average up means? I basically double my position size at a daily channel line that I have identified as a key trendline with the expectation it will hold. The risk reward and the strength of that line on a daily TF make it a trade worth preparing, regardless of the situation/trending etc intraday.


Of course a daily trendline on a 5M means you need to be aware of a wider space, but you get my drift.


I posted at the time that after three successful buys I stopped doing it as soon as the range of the ftse in the narrow of the triangle dropped below the FTSE's ATR.


Its awesome especially with forex which I think is much more technical than ftse and where a bounce from a major daily trendline can bag you pips for days and days and days...


Writing the above took so much effor. I';m off.
 
i think by the sounds of it split we do the same thing (only you properly and successfully, and me messing stuff up)...i think one of tims points was that MA's just reflect what is happening in price, and therefore you don't need them, which i agree with. but most people learning use an indicator for the simple reason that it makes things a little clearer (like driving on a road with signposts)...when you've driven round an area long enough, you don't need the signposts anymore...but they helped u find your way initially!
 
traceyjc said:
Fast Trader: I know a lot of guys who play the same types of trades; I don't know how much experience you have in trading but I've got to post that it's the most risky strategy you can take on in the markets. Essentially, all you'd need to get royaly F**d would be something like a terrorist attack between the close and open and you'll take a hit you might not be able to afford. Everyone in my place has to hedge their overnights (eg: Long Rio Short FTSE Future) except for the most senior traders. Just some food for thought, not trying to disuade you from your trading method!

For everyone else, still call 2 contracts Long FTSE from 4232 (Sep contract) but since there's heavy resistance at 62, short the DAX (1 DAX for every 2 FTSE) near its equivalent resistance (sold 4825) so you're hedged from the top of the FTSE Range. This is called spreading (for those who dont know) and is a really good way to stay in trades that you'd otherwise be out of whilst locking in profit from previous moves. I don't know if you guys have access to spread charts (if you do, the plot would be something like: DAX - 1.1*FTSE { 'AX U9-DT' - 1.1*'Z U9-EEI} ) Here's how the money works:

Long 2 FTSE from 4232. Meets 4255, instead of getting out (for 46pt profit = £460) you;
Short DAX from 4825 (now your in a spread), when the FTSE comes back to 32 (or if you think further let it run);
Take off DAX at 4790 (=€875) and now you're still in the same FTSE trade (currently trading 24 so 16pts offside) but you've booked in €875 profit from the spread, since the FTSE call was a daily one, I have no problem being in from 32 now but managed to make money on the interim without playing with the FTSE, rather the DAX.

It might not be from some of you but since you all seem to jump in and out of trades very regularly, it could give you something to play with that's rather safe (a spread is far safer than an outirght)
Click to expand...

Hi JC,
Thanks. That's a great post.

Its a nice sophisticated strategy for me, a newbie. I am learning a lot on this forum.

Any tips on scalping the bund?
Regards
 
7 trades so far

1 bad - 15pts

6 good + 31 pts

4 pts to reach my daily target, and i swear to the FTSE gods, i will not open another position :cheesy:
 
dr.blix said:
7 trades so far

1 bad - 15pts

6 good + 31 pts

4 pts to reach my daily target, and i swear to the FTSE gods, i will not open another position :cheesy:
Click to expand...

and i won't this time!

i'm pleased to have my target, even if it had to be ninja style :shuriken:.

1 bad call, 7 good calls...now all i have to do is repeat that everyday for the rest of my life :eek:
 
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