FTSE 100 intraday trading - JUNE 2003

[lockstock]

So Mr Bonsai,

Mid-day UKX hovering on the 4100 mark. Where are we going from here.

Lost 11pts this am wnet long at 81 with stop loss at 70- CMC took me out & the market reversed.

Looking to go short, but managing to sit on the sidelines, suppose US will give us the next direction- will the INDU retest 9000?


Answers on a postcard


PS Hi kev 457 How's it going? our paths cross once again.

 

[bonsai]

well Mr Lockstock
I dont have the first clue where its going, not really.
wish I did.

but if you have seen my last chart, a break down through
my resistance line might get me trading short.

and a failed retest of yesterdays high would not surprise me.

but there is always the unexpected ...........

 

[lockstock]

First chart - so here goes

 

[bonsai]

well done !
cci doesnt seem to be working

but if there was one reason I would ever go over to indexia/updata its because of their market tracker.

used to have indexia dos some time ago.
great system.

 

[lockstock]

Yep Bopnsai,

Don't know where the CCI went.

Market Tracker is an excellent indicator- it's just finding the right settings for each time frame

 

[Pollux]

Bonsai
NL only work in hindsight...
Sorry, where was I, ah yes the Dow and supprt levels...
Have good day
Px

 

[bonsai]

that might have been a failed retest ?
but I would have thought they might try harder than that.

guess we will know soon enough.

 

[bonsai]

ah well
would have been only 2 trades for me today
got one but it was the smaller of the two.

quel domage !

really must learn WHEN to stop and reverse.

 

[oatman]

I've used 55 mkt tracker with E28 on a 1min. mostly for the first reversal in the morning. Like everything, all of them work some of the time! My favourite Indexia tool is the1/3 2/3 retracement lines.

Cheers, down the pub..............

 

[bonsai]

morning
seems to be creating gaps, then filling gaps.

we may have to wait for dow 9000 for the next move up.?

 

[bonsai]

support at 4100
you may as well be long at this point
I am

 

[bonsai]

I use cmc to trade but keep my own charts.
their charts are ok but they only chart their prices.
may be good enough
I know several people who trade only using their charts.
they have some indicators inc ma bands/rsi/candles/momentum etc
but do not think you can draw lines.
(maybe an sma could substitute ?)

 

[bonsai]

dont know what charts you have but you could always use the chart on page 1 of this thread to keep abreast on a 1 min basis.

anyway looks like we are hitting resistance for now.
so out at 22 for +18
maybe too early ?

 

[bdholmes]

Bonsai, do you use D4F's stops? I started off using them, but was getting stopped out when the market was nowhere near them, so don't use them any more, I just keep an eye on my open positions instead to watch for reversals. I think it puts CMC in an advantageous position to have this information. My results have been much better since.

<GEEK SPEAK> I'm working on a script that uses a command-line OCR utility to constantly take screen captures of the D4F New Order window, and output the price into an ascii text file that is constantly read, and checked against my stop price...</GEEK SPEAK>

 

[bonsai]

bd
very very very rarely use their stops. They produce more spikes
than Seb Coe's track shoes.
and inevitably, just where you have put your stop.
(which is probably where everybody else put their stop)
It does mean sitting at the screen for longer.

Like the idea of your screen capture approach. How do you ensure the order window always has the same constant coordinates
day after day ?
let us know how you get on.

 

[bdholmes]

I just use the same Market Maker layout every day. It's still in early development, will let you know if I get it to work.

 

[bonsai]

doh !
done it again. Should have reversed.
just had 06/9 quoted already.
more

 

[jonnyy40]

Two European central bankers hint at rate cuts - bad for bonds, good for shares, then 15 minutes later ,ftse plummets?

 

[bonsai]

explosion in Paris may have caused that little hiccup ?


Explosion in Paris' Second District Kills `Several' People, Police Say
An explosion in Paris' second district claimed several victims, police spokeswoman Nathalie Faynel said.

 

[oatman]

Explosion in Paris, Gas, Don't panic.