SuddenDeath
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Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
- Thread starter wallstreet1928
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target achieved.
Dentalfloss
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dr.blix
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sh*t, mate i'm really sorry to hear that. i know how long you've had that position open.
SuperDriveGuy
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Sorry, to remark you make good calls and then your stop gets hit
I don't want to be a jinx
I'll just watch and learn from your analysis
LeoE
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Cheers guys,
I'm trying to figure out what lesson to take away from it (aside from the obvious risk management lesson). Looser stop, tighter stop, exited sooner?
Tighter stop would've seen me stopped out sooner with a smaller loss, but with the FTSE being so volatile recently, I could have gotten stopped out unecessarily.
Looser stop (where my original stop was, at 4380) would've been a bigger loss, but would've given the trade room to consolidate before moving south.
Sooner exit; anytime over the past week I could've taken a profit, but I viewed it as a period of consolidation before moving down again.
I think a tighter stop probably would've been best in this scenario; a stop at around 4315 (just above the peaks of this "consolidation" period) would've been ideal. The break out of this zone should've been a key indication that we were no longer heading south, but I was too confident in my original doomsaying
Think I may head back to a demo account before refunding my account now. Just made 80 points on oil while typing this message, shame it was on demo
wallstreet1928
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Sorry, to remark you make good calls and then your stop gets hit
I don't want to be a jinx
I'll just watch and learn from your analysis
haha.................
My stop didn't get hit ........The manipulation was very evident today!!
The highest the FTSE went to on my CMC marketmaker CFD platform was 4351
The highest level on IG index was 4360......
this is why I choose to utilise CFD's as opposed to spread betting platform
my trade is still open and stop loss remains @ 4354
but it just goes to show the optimal stop loss is 25-30 points......
Last edited:
Death in June
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Thinking of going long on the dow when it drops to 8540 as 20ma on 10min chart is there and bounced previously off that level! and from observation i've found that after a big move the previous high is usually tested after the retracement!
hmmm seems to have made the move up as I was typing without dropping to 8540 well then change of plan will short when it tests 8580 again which happens to be support found on 15 June
hmmm seems to have made the move up as I was typing without dropping to 8540 well then change of plan will short when it tests 8580 again which happens to be support found on 15 June
Death in June
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shock horror here comes 8540
wallstreet1928
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Cheers guys,
I'm trying to figure out what lesson to take away from it (aside from the obvious risk management lesson). Looser stop, tighter stop, exited sooner?
Tighter stop would've seen me stopped out sooner with a smaller loss, but with the FTSE being so volatile recently, I could have gotten stopped out unecessarily.
Looser stop (where my original stop was, at 4380) would've been a bigger loss, but would've given the trade room to consolidate before moving south.
Sooner exit; anytime over the past week I could've taken a profit, but I viewed it as a period of consolidation before moving down again.
I think a tighter stop probably would've been best in this scenario; a stop at around 4315 (just above the peaks of this "consolidation" period) would've been ideal. The break out of this zone should've been a key indication that we were no longer heading south, but I was too confident in my original doomsaying
Think I may head back to a demo account before refunding my account now. Just made 80 points on oil while typing this message, shame it was on demo
Sorry to hear that my friend
I have attempted to swing trade on several occasions but failed each time as this market is just too volatile .................
The only way you can survive in this market is to day trade
LeoE
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Yeah I think I'm starting to realise that. Been offered a decent job today, which will mean that I won't be able to watch charts all day (at least not until I've saved up enough to really commit and do this full time). So I'm going to have to swing trade for a while, or just trade on my days off (or both). Maybe individual shares, or forex would be better than indicies...
kaisen
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Nice ws! I have also been served well by a well placed stop loss today! I went long this morning at 4309 and when I had to go out before the US opened, I placed a stop loss at 4288 - arrived back off the highs but closed out at 4336 - if I had been here 4350 would have been nice - hey ho!
For me, the stop loss needs to be placed just where it is confirmed the trend has changed and beyond any possible retracement within the trend. Easier said than done but we need to aim for something!
All the best
Geofract
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Shorted at 0.8588 September - lets see if I can hold old to this trade for more than 20mins
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