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

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dont kick yourself

Timing is more important, Ive had loose stops at the wrong time/place and just lost more money then I was going to anyway.
Better to make lots of small mistakes and learn from it then get wiped out

IF you bet it went down and it turned out you were right then whether you made money or not is secondary. You can always fix that next time by in my case trying to match confidence to degrees of stop loss
 
SabreTT said:
Timing is more important, Ive had loose stops at the wrong time/place and just lost more money then I was going to anyway.
Better to make lots of small mistakes and learn from it then get wiped out

IF you bet it went down and it turned out you were right then whether you made money or not is secondary. You can always fix that next time by in my case trying to match confidence to degrees of stop loss
Click to expand...

I seem to have a lot of flat trades and a few small gains, for exactly the reasons discussed. I need to match my SL to my calls on the market.
 
pentlow1 said:
My initial stop was at 4317. I just moved my SL down as the market moved down, and i didnt have any confidence it was going to stay there. I was up 10 points when i moved my SL. c'est la vie.
Click to expand...

if you were up ten points you should have moved your stop to break even....not the other way round.
 
That would depend of the sort of time frame he had in mind for the trade. If it was at attempt at a scalp then yes , if he was trying to position for a trend trade then no.

So what did you have in mind for the trade pentlow ? what time did you enter ?

Trying to scalp counter trend so close to the end of the day , can be a pretty risky idea most days.
 
dr.blix said:
if you were up ten points you should have moved your stop to break even....not the other way round.
Click to expand...

Apologies if i sound thick...what do you mean by "Break Even". I had a wide stop when i put the trade on, but as i lost confidence it was going to carry on going down, i moved my stop to my sell price to protect myself. The market then shot up taking me out, for a flat trade.
 
masnachu said:
That would depend of the sort of time frame he had in mind for the trade. If it was at attempt at a scalp then yes , if he was trying to position for a trend trade then no.

So what did you have in mind for the trade pentlow ? what time did you enter ?

Trying to scalp counter trend so close to the end of the day , can be a pretty risky idea most days.
Click to expand...

This was just a very short term trade, looking for the fall which i anticipated would take the market below the 4300 level. Looking to take 20 points or so. Put it on at 15.30pm
 
pentlow1 said:
This was just a very short term trade, looking for the fall which i anticipated would take the market below the 4300 level. Looking to take 20 points or so. Put it on at 15.30pm
Click to expand...

wasn't sure at first if it was a trade you had just enetered when you posted at 4.20'ish

Hard to give any specific advice pentlow as everybody trades differently.

best stop placement and management is going to come from experience, there isn't a one answer fits all.

About the only thing I can suggest is keep a trade log or diary (don't rely on memory) by looking back over a number of trades, you'll start to pick up on things, like:

In general how does your initial analysis works out ? is it right more often than not , what about targets ? most of the time are they overly optimistic or ok ? does the market tend to go straight there or does it take it's time.

It's only when you can answer questions like this for yourself , will you be able to have an idea for the best stop placement/management for your way of trading.


(Break even - would be moving your stops up to cover costs once the trade goes into profit)
 
pentlow1 said:
Apologies if i sound thick...what do you mean by "Break Even". I had a wide stop when i put the trade on, but as i lost confidence it was going to carry on going down, i moved my stop to my sell price to protect myself. The market then shot up taking me out, for a flat trade.
Click to expand...

sorry pent, i've maybe misinterpreted your orig post...i don't think i follow this one either!

wherever you move your stop becomes your 'sell price'...do you mean you moved your stop to your entry point, therefore exiting the trade at break even (ie no profit and no loss)?

if that's what you mean, then apologies, as that's what i was recommending you do. (i've only just started doing this myself btw, as you may need to be around 10pts away from your entry if you're SBing...which i'm assuming you are :))
 
Have often used the breakeven stop as a way of preserving my sanity after a trade goes into profit...however, I've also found that as it often isn't entered into with the original motivations of the trade in mind, more usually it's just relief and fear making me do it, it often stops me out before a good move in my intended direction. For this reason I have begun only using this tactic when I have reservations about the original trade, otherwise it's probably better to trust your analysis...
 
good point TD.

i suppose ideally (if your TF allowed it) you would monitor your indicators and try to asses, for example, what your MACD, volume, patterns, leading market or osc div may be telling you about what the return to your entry point could mean.
 
Looks like we're rangebound for the moment. Bouncing between 4300 and 4220. We've already had quite a few attempts to breach below 4220 which could imply that if it gets down there again its going to bust on through with a vengance! (well, at least thats what my shorts are hoping!).
Also there was an ascending trendline which we have failed to touch today because of the failure to breach 4300, that's another bearish sign for me (unless this is just a small pullback from 4300 before heading higher). Tomorrow will hopefully give a conformation or rejection of this idea...
 

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GBP/USD triple top, and EUR/USD retesting 4100. Are we about to see the dollar weaken further, and the markets rise I wonder. If not, flight to the dollar and markets fall. Either way I don't really care, just get the hell on with it markets!! :)

GL all for tommorow.
 
good morning everyone, $72.90 crude, bullish ftse100 today ? IG showing +6 from yesterday cash close
 
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