wallstreet1928
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you have your reversal chaps
now wait for the short squeeze ..........
this is going to be very very powerful
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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you have your reversal chaps
now wait for the short squeeze ..........
this is going to be very very powerful
kaisen
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SD..SD...SD!
How did you know that my friend?
I placed a stop buy order at 5061 so thank you. I have a stop in place not at 5079 for a guaranteed 18 pnts.
Thank you kind sir.
But how did you know?
Actually my order was opened at 5068 (gits) but stop now at 5087!
Blumming eck though look at Cable! I had some short positions open that i closed for some small scalping pips. Then i went long at 16466 but stopped out with a very tight stop before the whoosh!
Goldman Sachs forecast?
Would you be long the FTSE from here WS?
wallstreet1928
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ivantchourilov
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Seems so! I am trading the SPI200 (australian asx index) and it is so damn inefficient! i went in after the number because it barely moved. its slowly been moving up since, lagging the FTSE. Seems long is the only place to be at the moment for the next few days. Nothing stopping FTSE until 5200, unless the S&P decided to halt and reverse. Once again, dollar/euro will be interesting. at 1.48 right now
Dentalfloss
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ws.....has reversal city got a football team..?????
wallstreet1928
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I have already told everyone that 5300 on ftse in 2 weeks , and then we may even break 5500 and 6000 can come soon
ivantchourilov
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the clunkers
wallstreet1928
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yes and I have a season ticket ....haha!!
ivantchourilov
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i think you might be a bit early in your analysis, but at this rate, who knows. That 5200 could form a shoulder and that could be painful for the markets. If it breaks the 5200 the 5300 is without question on the table, and then we see if this bull is still real. My bet is it won't break 5300.
this fib turn date looks to have played out for a temp high (if not THE high)... next turn dates are 9th Nov and then 29 Nov to 2 Dec
Da.DesiTrader
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Does anyone else notice a big gap in GBP pairs (particularly EURGBP and Cable)? Anyone know why?
wallstreet1928
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I hope everybody is enjoying the profit ...........haha!
I was just reminded of the post after finishing my mentoring session....
Yes i was discussing this yesterday,,, Scary stuff really... Do you have the link for that post Kaisen?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.
Thanks
wallstreet1928
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and there is the short squeeze ...........
sp500 above 1060.........
so much for doom and gloom
oil back above $80
Mr Lakhan, I don't understand how you could say FTSE wasn't going to go above 5100?
and you also said oil was going to break down out of the range and go below $77.5 ?
I am surprised because you trade a hedge fund and you have access to a wealth of resources........can you please give me the variables and the reason why you came to that conclusion?
thank you
kaisen
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