mexcalibur
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position size
Rav what kind of postion size are you taking on the FTSE ?
rav700 said:
Rav what kind of postion size are you taking on the FTSE ?
datav
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So despite early attempts to reclaim someground, the FTSE fell out of bed as predicted when the US markets fell away from Fridays highs. Trades posted in the T2W chat room netted 35 points on the day. As I write, the US markets are re-testing highs. Lets see if they are held
datav
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A somewhat disappointing day. Although we had 2 good trades, the first 15 points 5868 to 5880 and then at the consumer confidence report 5885 to 5905 total 35 points, I squandered most of it on a series of attempts to short. High time I learnt not to do that. Its amazing how impulsive trading creeps in, specially when you think you are doing well. As Ive said before, trading is really about self control and discipline, not about picking entries.
US markets have made tentative new highs tonight so ftse will open up tomorrow. Dailies show the first close outside the Keltner Channel to the upside forseveral days, so maybe we're in for some kind of rally.
US markets have made tentative new highs tonight so ftse will open up tomorrow. Dailies show the first close outside the Keltner Channel to the upside forseveral days, so maybe we're in for some kind of rally.
mikewilliams
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rav700 said:
are you trading eod or intraday
datav
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Splitlink said:
Yes, trading against the trend is fraught with danger. Quite appreciate your feelings on the chat room. I am trying to maintain some commentary and post my trades there for the time being though. We had a good trade this morning +32 points
datav
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Thursday 28/09
Wednesday was a modest day on the trading front, starting well with a 32 point winner and then once again the afternoon took its toll on our profits by refusing to establish any trend. US markets formed a spinning top candle pattern by the end of trading, right at the top of the Keltner channel, so odds are on for some retracement at least. which will no doubt bring the FTSE with it. So play today is around selling when the opportunity arises.
IT may also be noted that Crude futures have closed above the down trend for the first time for several weeks, finishing at $62.90. If this move continues, it will put pressure on equities, adding to the downward momentum.
Trades and blow by blow commentary are posted in the T2W live chat room.
Wednesday was a modest day on the trading front, starting well with a 32 point winner and then once again the afternoon took its toll on our profits by refusing to establish any trend. US markets formed a spinning top candle pattern by the end of trading, right at the top of the Keltner channel, so odds are on for some retracement at least. which will no doubt bring the FTSE with it. So play today is around selling when the opportunity arises.
IT may also be noted that Crude futures have closed above the down trend for the first time for several weeks, finishing at $62.90. If this move continues, it will put pressure on equities, adding to the downward momentum.
Trades and blow by blow commentary are posted in the T2W live chat room.
I had a good couple of days, after a bad start. I've made enough money to put my account ahead of last Friday's close, which is always a comfort.
This was done by using a spreadbetting firm. I keep mentioning this because there are a lot of negative posts about them. In addition, it has been suggested that day trading cannot be successfully achieved by using them. This morning I cleared 35 points with two trades so. while I am making those kind of profits (64 points last week) I shall stay a spreadbetter.
I suggest that, providing the trader can be near the screen and is self-disciplined enough, that he use mental stops, though, rather than theirs. I found that they went past the stop several times and only stopped me out when the price was reversing past it in the opposite direction. The question is: if the price had continued going down, would they have stopped me and when? Maybe, that was my imagination but I am still alive because I have a suspicious mind!
Split
This was done by using a spreadbetting firm. I keep mentioning this because there are a lot of negative posts about them. In addition, it has been suggested that day trading cannot be successfully achieved by using them. This morning I cleared 35 points with two trades so. while I am making those kind of profits (64 points last week) I shall stay a spreadbetter.
I suggest that, providing the trader can be near the screen and is self-disciplined enough, that he use mental stops, though, rather than theirs. I found that they went past the stop several times and only stopped me out when the price was reversing past it in the opposite direction. The question is: if the price had continued going down, would they have stopped me and when? Maybe, that was my imagination but I am still alive because I have a suspicious mind!
Split
datav
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Monday 2/10
Futures v spread betting? Its whatever you feel happy with. Futures with a direct broker are 10 quid per point and you need about 2500 pounds in your account per 1 contract you want to trade. Spread is half to 1 point and slippage is usually also half to 1 point. commission isabout 3.30 each way. What I like is that there is no intermediary. In and out exactly when you want, at the minimum cost.
The week ended good last week with an overall profitable week despite some difficult days. We get better trends in the morning. Its rare that I go home with more than I had at lunchtime!
This week is rather a pivotal week. We have been saying that the market has limited upside potential but plenty of down side risk. Lets see if this is the turn round or just a puse in the march upwards. If There is a slide south it could be quick, so be on your toes to catch the wave!
Safe trading
Futures v spread betting? Its whatever you feel happy with. Futures with a direct broker are 10 quid per point and you need about 2500 pounds in your account per 1 contract you want to trade. Spread is half to 1 point and slippage is usually also half to 1 point. commission isabout 3.30 each way. What I like is that there is no intermediary. In and out exactly when you want, at the minimum cost.
The week ended good last week with an overall profitable week despite some difficult days. We get better trends in the morning. Its rare that I go home with more than I had at lunchtime!
This week is rather a pivotal week. We have been saying that the market has limited upside potential but plenty of down side risk. Lets see if this is the turn round or just a puse in the march upwards. If There is a slide south it could be quick, so be on your toes to catch the wave!
Safe trading
I'll be late in the trading room Tuesday, which may be a good thing for me. The Dow seems to be on the neckline of a HS pattern which needs to be watched. FTSE has been down for the last two days and is on support.
The Fed makes a decision on interest rates on Thursday.
The Fed makes a decision on interest rates on Thursday.
