FTSE 100 intraday trading - JUNE 2003

[bonsai]

that's interesting !
did you see the push up through resistance to break above that trend line ?

 

[bonsai]

could get broken by 2.15 ?

 

[waytogo]

Bonsai
On the trendline I drew on my (future) chart, the price seemed to bounce off the line rather then go through it.

 

[bonsai]

I'm probably the wrong guy to ask anyway.

my 'targets' are
Dow 9700
Ftse 4430

if you remember when we bottomed at 3600 the dow bottomed at 7200

 

[bonsai]

waytogo
all my chart numbers are based on cash charts.
as are my signals.


chart the cash and trade the futures.

 

[bonsai]

RG

do you want to ask the same question now ?

 

[jonnyy40]

what's a good long term weekly points average?The 50point/week level is what i'm aiming at at first,but what might that go up to?

 

[bonsai]

jonn40

It all depends on your trading style/system,imo
and it depends on how many losses are wrapped up in
the net gains.

One person I trade with made 50pts by 8.45 this morning.

there is a very good maxim
'get rich slowly'

 

[jonnyy40]

What if I'm already rich? Can't I get richer quickly?

 

[bonsai]

its a maxim, not a minim.

hope all went short on break back through trend line?

 

[bonsai]

taken 75 for +11

 

[waytogo]

Yep, also got that one. My timing is not as good as yours though... +7... but am now back in positive territory for the day - just! Phew!

Although I get in on pretty much the same trades as you Bonsai, I also add in a few extra losers along the way. I guess I need to refine my filters to try and cut those out...

 

[bonsai]

jon40
what I was trying to say really,is that I absolutely hate the idea of setting targets.
I believe it can destroy the need for remaining as objective
as possible.
They can also make you very twitchy.
Keep detailed rcords
and then at the end of each month, look back and make an
assessment of how well you think you are doing.
but then move on.
after 12 months, you will have a pretty good idea of your trading skills without having to think of targets.
Think 'trading skills' ?
Am I pulling the trigger when I need to ?
Do I immediately get out when it goes wrong ?
Do I have the right signals?
etc

I don't know, but I hope that helps.

 

[bonsai]

we all have losses
looks like I got out too soon ?
that happens quite a lot as well.

 

[bonsai]

waytogo
well done.
but dont change things unless you are uncomfortable with them ?

I used to hunt for a silver bullet but there isnt one !
we are who we are ?

I seem to remember some author posing the question
'Are you really trading the market, or are you trading yourself ?'

I think there is a lot in that.

 

[bonsai]

hindsight is a wonderful thing ?
seems we did the right thing !

anybody catch this move ?
not me that's for sure.

 

[waytogo]

I agree with you (or the author in question) - trading for me has been something of a voyage of self discovery and I think I've got a few more gremlins to get rid of before I really get good at this game - but I am very persistant!

 

[bonsai]

some of these 'pschyco' books are very good.
My favourite is Mark Douglas - The Disciplined Trader-
well worth a few quid.One book every trader should have imo.

 

[waytogo]

I have heard good things about Douglas. I have got Steven Hendlin's The Disciplined Online Investor which I am re-reading at the moment. Maybe I'll buy a Douglas book as well.

 

[bonsai]

Don't want too many days like today.
Biggest tradeable move was 20 pts ? and the sb's take at least 6.