wallstreet1928
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Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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wallstreet1928
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dr.blix
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i like your chart WS...did we have the same art teacher perchance? :cheesy:
Dentalfloss
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dollar index /basket is bullish
1 min data
some r.s levels marked
2 much longer thrust columns in the last couple of days
target / upward is active
22.68 to hold on the retrace
1 min data
some r.s levels marked
2 much longer thrust columns in the last couple of days
target / upward is active
22.68 to hold on the retrace
wallstreet1928
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this is the last stand folks
1040 sp 500....filled the gap
5046 ftse .........filled the gap
1040 sp 500....filled the gap
5046 ftse .........filled the gap
WS are you saying that these levels are major support and therefore we go back up from here? Thanks.
wallstreet1928
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these are our last levels of support .............if we hold them then very good for the market and today will be a reversal day
eur/usd held ...........1.47 very good for the market (i will be buying on pull back)
that has helped oil remain above $77
TZ Futures
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FTSE 100 (DEC) Trading Tip : 29 Oct 2009
Update 07:45 GMT
Current Level: 5035
Support: 4965
Resistance: 5090
We got our break yesterday going through the important supports we talked about and got to a low of 5050 at first in the afternoon then carried down to 5014 later in the day.
So far poor economic news has dominated the markets an there may be more to come today as we get the all important US GDP and US Jobless figures today - both at 12:30pm UK time. However, I believe it will be a mixed picture with GDP better than expected but jobless claims worse than anticipated.
Based on this, I do not think we will get above 5090 today and will go short on any bounces and target 4975-4965.
Update 07:45 GMT
Current Level: 5035
Support: 4965
Resistance: 5090
We got our break yesterday going through the important supports we talked about and got to a low of 5050 at first in the afternoon then carried down to 5014 later in the day.
So far poor economic news has dominated the markets an there may be more to come today as we get the all important US GDP and US Jobless figures today - both at 12:30pm UK time. However, I believe it will be a mixed picture with GDP better than expected but jobless claims worse than anticipated.
Based on this, I do not think we will get above 5090 today and will go short on any bounces and target 4975-4965.
kaisen
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Hey WS,
Do you still have you long open from last night?
I traded 3 mini lots - closed for +15, +20 and +30. - If you are still in do you have a target or do you move you stop loss up 10 at a time and look for a change in variable?
In this volatile market i like to partially close, better for my emotions than seeing a profit turn break even or into a loss.
Is Ning set up yet?
Any further thoughts welcome my friend!
I know you are working hard but keep up the good workl
ATB
SuddenDeath
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good morning everyone
kaisen
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And another thing......
Just wanted to share something that really affected me yesterday.
I read on another thread that someone lost 98% of their trading account yesterday (and this guy wasnt a newbie!)
Would seem he got in a bad position and tried to trade out of it rather than walking away and coming back in a clear state of mind.
This really brought home that even when we progress, we can still our own biggest problem.
Just thought i would mention it as sometimes we need a reality check. Especially as discussion was made on ramping up position sizes etc.
The larger the position the greater the emotional challenge to execute the trade and manage it effectively. I have recently experimented with larger positions. Thankfully not amazingly large but larger than recent trades and also thankfully not at detriment to my account! But the emotions do ramp up and you either take less trades and miss opportunities as you try and make things perfect, snatch profits only to see larger moves play out, or win big and lose big, all these elements can create bad emotions which hamper trading. IMHO trading is as much about keeping your emotions under control as it is about strategy. And success to me is about doing what make you feel good emotionally. If you do not enjoy seeing profit eaten by a reversal then learn how and when to partially close positions to protect your account and protect your emotional sanity! You can always add more on the retrace and if the retrace doe not come you still have a position in the market. So the emotional damage is limited.
Risk management (and emotion management) is the key and if we want more from the market in terms of money, we need to become more skillful as traders to take larger pnts/pips rather than leverage the position. Leverage can come later but focus on the pnts/pips and do not over leverage the account.
Success is a poor teacher.
We can be foolish in an instant and repent for a long time.
Please do not take this as patronising but I do not want anyone to lose 98% of their account and i would urge anyone to share realities from time to time so we do not get carried away with ourselves after a string of successful trades.
I wish everyone amazing success.
All the Best.
Just wanted to share something that really affected me yesterday.
I read on another thread that someone lost 98% of their trading account yesterday (and this guy wasnt a newbie!)
Would seem he got in a bad position and tried to trade out of it rather than walking away and coming back in a clear state of mind.
This really brought home that even when we progress, we can still our own biggest problem.
Just thought i would mention it as sometimes we need a reality check. Especially as discussion was made on ramping up position sizes etc.
The larger the position the greater the emotional challenge to execute the trade and manage it effectively. I have recently experimented with larger positions. Thankfully not amazingly large but larger than recent trades and also thankfully not at detriment to my account! But the emotions do ramp up and you either take less trades and miss opportunities as you try and make things perfect, snatch profits only to see larger moves play out, or win big and lose big, all these elements can create bad emotions which hamper trading. IMHO trading is as much about keeping your emotions under control as it is about strategy. And success to me is about doing what make you feel good emotionally. If you do not enjoy seeing profit eaten by a reversal then learn how and when to partially close positions to protect your account and protect your emotional sanity! You can always add more on the retrace and if the retrace doe not come you still have a position in the market. So the emotional damage is limited.
Risk management (and emotion management) is the key and if we want more from the market in terms of money, we need to become more skillful as traders to take larger pnts/pips rather than leverage the position. Leverage can come later but focus on the pnts/pips and do not over leverage the account.
Success is a poor teacher.
We can be foolish in an instant and repent for a long time.
Please do not take this as patronising but I do not want anyone to lose 98% of their account and i would urge anyone to share realities from time to time so we do not get carried away with ourselves after a string of successful trades.
I wish everyone amazing success.
All the Best.
kaisen
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Live with Oscar....
Interesting video.....see how it plays out but the analysis is interesting!
http://www.livewithoscar.com/index.php
Interesting video.....see how it plays out but the analysis is interesting!
http://www.livewithoscar.com/index.php
Dentalfloss
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s500
beware of shorts
black lines..vertical counts..targets are achieved/virtually
1 min close data
1056 and this chart is bullish
beware of shorts
black lines..vertical counts..targets are achieved/virtually
1 min close data
1056 and this chart is bullish
TZ Futures
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US Light Crude (DEC) Trading Tip - 29 Oct 2009
Update 09:30 GMT
Current Level: 77.76
Support: 76.75 and 76.50
Resistance: 80.00
Our 77.00 support level remained firm yesterday. At 77.00 I would see this as a buying opportunity and target 78.50 for today - unless of course, the US GDP data comes out worse than expected, then we may see price drop to 76.50 which I would again be a buyer but only target 77.50.
Update 09:30 GMT
Current Level: 77.76
Support: 76.75 and 76.50
Resistance: 80.00
Our 77.00 support level remained firm yesterday. At 77.00 I would see this as a buying opportunity and target 78.50 for today - unless of course, the US GDP data comes out worse than expected, then we may see price drop to 76.50 which I would again be a buyer but only target 77.50.
Dentalfloss
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nas 100
targets achieved
looking oversold
1 min data
targets achieved
looking oversold
1 min data
TZ Futures
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Gold (DEC) Trading Tip : 29 Oct 2009
Update 09:45 GMT
Current Level: 1034
Support: 1026.5
Resistance: 1040
We went down just below our support of 1028 going down to 1026.8 and a high of 1040.
From shorting at 1038 and after closing at 1028 yesterday, I bought in again at 1029 and will aim for 1038 to sell, which I will short once again.
Below 1026.5 prepare to go much lower targeting the crucial 1005-1000 mark.
Update 09:45 GMT
Current Level: 1034
Support: 1026.5
Resistance: 1040
We went down just below our support of 1028 going down to 1026.8 and a high of 1040.
From shorting at 1038 and after closing at 1028 yesterday, I bought in again at 1029 and will aim for 1038 to sell, which I will short once again.
Below 1026.5 prepare to go much lower targeting the crucial 1005-1000 mark.
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