Hi Foale, thank for your reply, not in France at the moment, back home in old blighty. It would be nice if the thread can be kept going, I will try and use it as much as possible>
I trade the index on a intraday basis, using simple S&R, macd, rsi and price action, I use 5 min and 1 min charts. I trade aiming for collect 20 points, however, if i am fortunate to enter the trade at the correct time< I use a sell order to lock in profits, and will generally let it run moving the stop to capture additional profits. Got a short position in from acrosss lunchtime and took the profits this time, now waiting for the US to open before further trade, I do favour a short position at this stage, but will wait for my signals to tell me
You mentioned about trying to find the trend, interesting what I am looking at at the moment (and I will post the results) is, trading short term (ie: 5 day movements). I want to analyse a full year time frame to see th results, but principally, I looked at a 13 week period, and had you taken either a long or short position based on the opening price at the beginning of the week , set a 25 point sell/buy order, you would have achieved this objective 9 out of 13 weeks (69% success rate) on a long position , and 10 out of 13 on a short position (76% success rate). Which ever way you favour, you should gain, (well at least thats the theory)
Based on this scenario, I want to look to see whether the pattern is replicated throughout the year, and give thought as to whether it is possible to operate to sb account, one for daily intraday trading and one for weekly movements.
Once I have finished I will run a test on the results and post what I find, might make interesting reading if nothing else.
Regards
