FTSE 100 intraday trading - JULY 2003

[kevin546]

Mully

we are all entitled to our opinion and it all depends on how you trade. I would certainly not expect to make these amounts from futures because of the spread and how should I say it different price action.

As far as I am concerned these deals were available

AM
Buy 40 - 60 + 20
Sell 62 - 52 +10
Buy 52 - 57 +5
Sell 55 - 45 + 10

PM
Buy 45 - 60 +15
Sell 62 - 57 + 5
Buy 55 - 65 + 10

Thats 45 during morning and a further 30 in the afternoon

 

[kevin546]

Should read Spreadbetting not futures due to spread etc

 

[bonsai]

kevin
Conservative = "Near Perfect" ?

tell you what.
I'll post an assessment of what I think is conservative and
any time you do better than that then just tell us what you have
actually achieved. We are all happy to see people making money.

But there is no point in your posting that sort of assessment.
Unless of course you would like to start your own thread ?

 

[kevin546]

I am sorry if my post has rattled you. You know where I am coming from as I have been posting the charts for a while and nothing there has changed concerning the trendline.

I accept my conservative stance was the wrong term to use. I was basing that on what was actually available from each deal allowing for a slip of 2 - 4 points per deal, from the very best position. On that basis the final figure would have had some slack on the very best position. That was what I based my conservative stance on. A case of being over critical maybe but made with good intent.

As for posting when or if I beat you conservative assessment I do not really think that was called for and would not wish to go down that path because if I did obtain a better figure it is not proving anything and sounds nothing more than bragging which I am not about. I certainly do not wish to undermine anyone particularly you after all the time you have give me but do find the last comments a little over the top. I am only here to pursue what I have set out to from learning and where possible use best practice to improve my own set-up. The last thing that I would wish to do is offend and would hope that you would feel the same way.

I am more than happy to refer to your assessment based on your own set-up and mine was not posted to undermine yours or call you wrong it was only based on my own chart and the signals I follow. You will see from my own chart there were only 7 deals listed, is that not what I have been going on about for a while. I meant nothing buy it but you can rest assured I will not post in this fashion again.

Kevin

 

[reactor]

i see 40 being the most likely today going by your charts kevin as a good figure to be doing well.

i couldn't get hooked up on either dial up or broadband today trader 333.

it's also amusing (and educational) to see people losing money (like myself) too bonsai.

 

[kevin546]

Hi Reactor

As Trader 333 has already said a dial up alternative would be a good idea especially if you are doing this full time. Depends on how much time you want to commit to this. The same thing has happened to me and when I was with NTL I lost a week but when you are daytrading there is always another day.

Good luck

Kevin

 

[bonsai]

morning
yesterdays 'pennant' should be stronger than this.
Looks like Dow disappointed by not showing any follow through.

you may have to be careful today.

 

[bonsai]

action around the 1 day ma may give some clues ?

they may not want to break too far below it just yet.

 

[kevin546]

Bonsai

Are you aware Elder has a new book out 'Come into my trading room' a friend of mines claims it is very good better than his 'trading for a living'.

Kevin

 

[bonsai]

hardly a new book.
Its been out for over a year.

 

[bonsai]

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[bonsai]

more dodgy ?
the surge seems to relate to movement in the Dow futs
and took us up to the fib which promptly induced some sort
of sell off. And we have now lost the fib level at 85.

 

[kevin546]

OK, well I will get the new one

 

[bonsai]

turning into one of those days when you need the patience
of a saint to find a safe trade.
it'll probably turn up and maybe a long but you may have to catch
it just right.

it could be a second rush of blood to the head and push up
through resistance.

or a serious fail of the gain line.

at the moment it looks 50/50 ?
but there are those gaps down below !

 

[kevin546]

I would agree re the patience it's one of those days where you could over trade if looking for small points. There have only been 2 good trend line breaks today the others with a triangle in between with the break down to 4050. But the 2 trendline caught that at well. Gets a bit tight in between but I suppose there were small deals there.

All a bit triangular so far.

 

[reactor]

a lack of discipline has been costly for me so far. just have to wait for the US open now to see if it will change the state of play.

 

[kevin546]

Bonsai

has there been a signal today that meets your criteria

 

[bonsai]

surely
we had a goat early on and so far its been profitable.
but may have to close it soon.

 

[kevin546]

Goat - failed re test so you sold after the rush up. Have you time to talk me through it from either your own chart or the one I posted earlier and for this deal do you need market depth level 2.

Kevin

 

[kevin546]

By the way got the 1st sell after 8.30, then buy at 1st trend break. Missed sell off but got in for another buy at higher pivot low and then sold on next trend break.