FTSE 100 Intraday trading - August 2003

It worries me that so few people post their trades on this thread.
Often a sign they are not making money ?
Because of the characteristics of FTSE, the MACD is by far the
preferred method of trading. And I have tried to illustrate this
in my daily summaries. So if you haven't tried it .........

Today was a good example. But you do require patience.
but then why be impatient when you are making money!
 

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Bonsai, What numbers are you using on the MACD, I'll have a look, if you don't mind.
 
oatman
there are many to choose from based on your own style
but Lambchops has come up with a good one and there is a chart
on Page 1. (60/100 on 1 min)
My own is also based on a 1hr short with a 1 day long.
 
Bonsai,

Unfortunately I'm out most mornigns, so can't trade 'till i get back - hope to change this by being more successful at trading and giving up the day job... but..

Anyway, I did trade today/this afternoon. Only broke even after losing when I bought the rally which suddenly sold off. However, I sold later in the day as I decided an overnight position would be worthwhile - as you know from my posts I've been expecting a sell off. Got a lucky break with Dow sell-off, and as I'm out tomorrow morning I'll close with about +30. Shame as I expect a bigger move, but I also expect Wall St to rally and don't want to get caught short.

For all the EW doubters, the current move was predictable, first time in a while though.
 
my sympathies.
always tricky getting on to a trend/pull back a little late.
The natural stop is usually so far away.
 
Good point about the stops. I've actually lost quite a lot over the last few weeks exactly due to the distance to natural stop points. All the same, it's a game of averages.

I know I have a good intra day system, but being out so frequently makes it difficult to implement consistently. If i can get a decent good run I might be able to take the plunge for full time trading! The real key is psychological!

The reason I posted was in response to your request for posting of trades. I'll try to do this more and would appreciate comments to help me improve - even if it's "you idiot - why have you done that"! I'll take all comments as potential learning points!
 
By the way - I've bought the Dow - just £1, but I think there'll be a bounce as it's on it's lower BB. If I'm right I'll make a few quid, but if I'm wrong it wont hurt too much.
 
fins are quoting 80/86 and d4f 80/84.
that implies a new low at the opening.
scalpers may be looking to long that I think even if only for
10/15 pts ?
 
Bonsai,
those quotes right around support after 95. Might see 4050 quicker than we think 2row
 
things do look negative but previous 4th bottomed at 80.
a lot will depend perhaps on how the futures behave overnight.

at the moment S&P futs are rallying a bit.
 
I think people tend to post their trades in the chatroom instead and just use this thread for ideas and chat specific to the FTSE.

I know i'm sure making money :)

happy trading
 
I don't see much rallying but I do expect a bounce at WS. The Ftse is less predictable. Recent action has hardly looked impulsive, either up or down. I think we'' probably see a negative opeing turning up again to try to close the gap, then a sell-off. I'll just take profits as soon as I see positive action. A rally in the afternoon is highly probable IMO.
 
when Dow was hitting 9000 earlier in month FTSE was struggling with 4025. FTSE has shown strength lately tho'. The morning will be worth watching IMO.(I feel a buy S&P,sell FTSE coming on!!)
 
Woken up this morning with similar thoughts - today could be a big down day for the Ftse. Decision time soon - do I hold the short.......? Closed my Dow long for 10 points; decided it's got more to go on the downside first.
 
Yes - I've got to go out now. I'd fancy my chances with a short, but I've closed my Ftse short & Dow long as there's no conviction either way. Still, a profit's a profit and I'll see how its all panned out when I get back.

Bye for now
 
lol
lots of broken glass.
but at least we have a nice gap to revisit sometime.
 
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