Day Trade the FTSE

[shortorlong]

Hi all,

I have recently been looking at trading the ftse. I was wondering if anyone could tell me what i need to be looking at? oil prices? interest rates? cpi? level 2/order book? or will just plain old price action do?

Any help is most appreciated.

jords

A thousand traders will tell you a thousand different methods .. price action should be enough IMO .. but pay attention to the timing of data releases : Forex Forum, Forex Calendar, Forex News @ Forex Factory

... also watch for price action (reversals may occur) at support/resistance, previous day's close, previous day's high/low. Another time to pay attention is around 2:30 UK time when the US market opens.

If you are just starting out, use minimum stake until you become consistent, also set stops and accept your fate ... In other words, don't run your losing trades

P.S. I no longer trade the FTSE, I trade Cable. I find it easier to predict by observing the price action. Also I scalp 10 points here ten points there, I sometimes get lucky, sometimes I get careless.

 

[10pips]

[deleted comment]

 

[One Eyed Shark]

depends where US open takes us, ES is limit up at mo hence we are not going up any further at the mo

 

[dailytrader81]

I put a short on 5193. I hope market will drop on monday.

 

[spreadbetit]

hows the trading going on the FTSE today then .. i think after last night and all this worrying talk about us bailout not working, it might just go short again!

 

[trader_dante]

FTSE cash is going down to 4880. Should be an easy trade. Current price is 4912. Stops above 4925.

 

[wrobinson]

It's nice to see somebody saying something positive and intelligent for a change! I see so many chats which are nothing but ignorant ego-boosting talk from people who really haven't got much of a clue about what they are doing! I totally agree: the FTSE is everything you said it is: I day trade it using Market Profile, candlesticks. Works verry well as long as you are discplined in your system and you abey it rigorously. I went long this morning at 4895 at time 08:36 with a fifty point stop to clear the spike. Solt it just a little while ago 5036. I'll leave it for the rest of the day now. I know myself: I tend to give it all back if I trade in the afternoons!
W.

 

[kev1n1983]

Hi Everyone,

I day trade and its nice to see that i have finally found a place that i can chat with like minded ppl.

What are your views on the FTSE- triple bottom??

Cheers

Kev

 

[wallstreet1928]

I prefer to day trading too .............

I hate being in a position over night and having to pay financing for my long positions. I also use candle sticks with CMC marketmaker trading software along with support and resistance levels, the 2 incidcators I prefer are RSI and bollinger band width which have proven to be pretty accurate.

 

[kev1n1983]

Hi Wall street,

Bollinger bands...im interested! tried them and they look ok but i find the to slow and inaccurate (false signals), maybe im reading them wrong or have poor setting??? what time frame do you use them on?

 

[kev1n1983]

Hi all daytraders and swingtraders

I have been thinking "tick tock, tick tock"....... of starting a forum for "hints tips and trading strategies" i dont know if there is one already so if there is please can you tell me.

If not, i would like to see all the things we do to make money on it, as well as previous trades, experiences, tips on indicators, possible entries and exits etc etc..... BASICALLY a one stop shop for all people that are serious about taking money out of this unlimited cash machine called the stock market.

It would also be nice if we could do conference calls, ie on skype....

Tell me what you think, i hope you all agree that if done correctly we can make even more money together....

Thanks

Kev

 

[wallstreet1928]

I use bollinger bands on a 20 day period along with RSI and market news and fundamentals.

Kev1n1983 what trading software do you utilise?

Yes, I think your idea is worth organising......

 

[bfirth]

Hi all daytraders and swingtraders

I have been thinking "tick tock, tick tock"....... of starting a forum for "hints tips and trading strategies" i dont know if there is one already so if there is please can you tell me.

yes there is its called T2W, or am i missing somthing? :whistling

 

[tolland]

Hi all daytraders and swingtraders
...
It would also be nice if we could do conference calls, ie on skype....
...
Kev

Hey, I was thinking of something like that - a public skype group that day traders could dial into to voice their thoughts on anything that they are trading or noticing...

T

 

[Renatogrant]

Wasup all you crazy traders! Love all the positivity in here, hate all the gloom & doomers everywhere else. Like a lot of y'all , I day trade the FTSE and Dow and I the volatility is lovely jubly. Again like you guys I use support/resistance, Fibonacci retracements, Bollinger bands & MACD. I dont try to read them all at once otherwise I would never trade! I suppose im a countertrend/ breakout/ swing trader kinda guy. FTSE is nice to trade, just trade it small then rack up when a trend is easy to spot and follow. Not making bundles but im happy with a few hundred quid a day. Now the dow, she's a bitch! She's really volatile! But thats cool, just trade in smaller amounts and dont get wiped out! Just make more than you lose on a day to day and alls cool. Cut loses quickly and go the other way with the trend. Like my man says, you gotta follow the market every second, well maybe not every second, I use 3min charts, seems to work cool. Not a perfect system but if you stick to your rules, don't get greedy or get scared, there's gold in them there candles son!
Good luck fellow traders, a little luck goes a long way! Wish me luck too. May the technicals be with us all.

Peace.

 

[wallstreet1928]

you sound like a cool guy Renatogrant.......

keep posting on here, i like your mentality!!

 

[wallstreet1928]

Ok so who got caught long with fake rally?

I went short at 4300 and have stop loss at 4275 to take profits incase of an upswing(volatile markets), but FTSE just cant get past resistance level of around 4400 - 4350 .??

what are you traders thinking? LONg or SHORT please give your reasoning and indicators used?

 

[datav]

lets broaden our minds (as the joker said)..Going Long.
Here's my chart showing bounce off support and target at the daioy R1

 

[UK-T(raider)]

Hey all, new to the forum and been spreading for a few months now.

Currently short on the FTSE @ £10 per after making a nice profit earlier @ £60 per

I'm going to hold out on the FTSE till I gauge the direction, until then it looks like asian markets are the place for me at the moment.

 

[ceydababy]

Let's try and revive the FTSE thread !

Trade so far......

1. Short 80 out 95. -15
2. Long 97 out 98 + 1

I'm currently short ftse from 94.