Big Ben on the FTSE100

brewski1984 said:
I got stopped out today, upped my stake as well so makes me just that little bit more annoyed. I honestly think I've ruined this system the last 2/3 weeks lol, I know I need to see the bigger picture just seems I always lose more than I win.

Hope for better tomorrow!
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me too - and first day back for ages too, after a manic few months. Oh well :rolleyes:
 
small loss, was risky before retail news. However I do stand by my 6055 call, would have been a great entry and would have got in at the lowest point if retail news was good.
 
Stopped out today, and I suppose it was some newsflow that did that, I won't be checking. Even v1 and v2 BB would have been stopped out today.

Ho hum - Been to Majestic to get some consolational vino, had a burger en route, watching the Apprentice USA later. Glimmers. Life's not so bad.
 
I like the way you deal with a losing day Tom. I get really annoyed, want to give up trading and start questioning what I'm doing with my whole life. I then spend the rest of the day spinning statistics around in my head trying to justify the trade and convince myself it's all about the long run.

On the plus side, I never once get back in and start chasing my losses.
 
This may sound trite (sales talk, if you've ever tried selling for a living), but if you have proved that the system will win about 70% of the time, a loss today should make you happy, looking forward to a greatly increased chance of a win tomorrow - works for me (but you have to be sure of the method);)
 
I like the thinking but doesn't that fall in to "Gamblers Fallacy"? We have the same chance to win/lose tomorrow as we did today, although with a >70% win rate the odds of a win are in our favour.
 
Ha ha - I'm not clever enough to argue about the theory, I only know what works for me.

I read a great book called The Jungles of Randomness (mathematics at the edge of certainty) by Ivars Peterson, which explains things much better than I can. I think it's out of print now, but if you can get hold of a second hand copy as I did, it may convince you. Worth a read anyway.

brewski1984 said:
I like the thinking but doesn't that fall in to "Gamblers Fallacy"? We have the same chance to win/lose tomorrow as we did today, although with a >70% win rate the odds of a win are in our favour.
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I'll see if I can find a copy of it. Odds, probabilities and so-called randomness always fascinates me, I'm forever working the odds out on absolutely everything from poker to the boxes on Deal Or No Deal some afternoons. Sad, I know.
 
What platform / broker are you using brewski. I'm with a small one at the moment - t1pspreadbetting - got max +9.5 before stop out when it went back to -11, then up. small differences, sometimes works for, sometimes against, but well done for the win.
 
I've not heard of t1pspreadbetting, I use capital spreads as setting up oco orders on their iPhone app is relatively easy, I've found some other companies/apps don't do it.

I was still using tomortons 15 stop/10 target which I believe kept me in the trade where yours was stopped out. On another day I would have taken a bigger loss than you so I guess a bit of luck.
Hope tomorrow brings a win for us both.
 
ok thanks - I use t1ps because I can set an OCO as well - I don't think I can do it on IG. I'm looking at smart live markets at the moment. As you say - good luck for tomorrow.
 
I'm with Smart Live Markets and love them :), was with IG Index in 2009 and hated it.
 
Rollercoaster day yesterday, nearly stopped out soon after buy order triggered, then it missed target by 1 point, up and down all morning and early afternoon, I closed the order too early at 3pm for a 3.5 point gain, only to see index go beyond target minutes later - d'oh! stupid fear and greed. Ah well a win is a win.

I use the attached spreadsheet, adapted from the one posted earlier by Barjon, to work out my orders based on the V3 rules suggested by Tom. View attachment FTSEBigBenV3.xml
 
I'm ready to go, as I think the v3 limited target will give fewer days when orders are not triggered and targets not hit. Orders not triggered yet I think.
 
tomorton said:
I'm ready to go, as I think the v3 limited target will give fewer days when orders are not triggered and targets not hit. Orders not triggered yet I think.
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Order is off and away this morning - good luck
 
...and target hit for a 10 point end to the week - cheers Tom. I make that a positive 25 points for this week with 4 targets hit and one stop hit. A very nice start for V3.
 
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The Friday thing is not really an issue with V3 type settings. I've had 3 wins out of five this week - I think those with a slightly looser stop should have done better - I'm happy
 
Good finish to the week, making 4 targets hit, 1 stopped out (v3 rules).

Overall in the last 4 weeks, i.e. 3 weeks on v2, then 1 week on v3, the score is 7 targets hit, 5 expired +ve, 3 stopped out, 4 expired -ve, 1 no-trade.

If the last 4 weeks had been traded using v3 rules, the results would have been 15, 0, 2, 2, 1.

I am really hoping for great things, but any week that gives 4 trades out of 5 should raise a smile, even on poor r:r.
 
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