FTSE 100 - March

[mully]

Here is the chart

 

[Hooya]

jonny....all the books I have read talk about "the psychology" problems of trading etc but none of them really tell you how to over come it/them? If you know the problems think its just something you have to work through and the better the trading method gets the more confidence you get and so on and so on.

 

[Finirama]

Try Brian June & Van Tharps book called Financial Freedom through Electronic trading...some good ideas on matching your personal and trading belief systems to work in harmony

 

[Finirama]

Has anyone heard from Bonsai??? I hope things are ok

 

[jonnyy40]

Do you have to be registered/keep tapes of consultations to become a Hypnotherapist?I think I'll set up as one specialising in trader's problems,then 'suggest that the better ones tell me their strategies or place 10% of their winnings in a Swiss bank account for me.

 

[jonnyy40]

Thanks

 

[Finirama]

Nice!!

 

[oatman]

What happened there? Dropped 40 points in a straight line. volume wasn't that large.

 

[Fluke]

Mully.
Just hit my fib at 4402,still looks bearish.

Support at 4370 & then fib at 4357.After that who knows!!!

 

[Hooya]

taken ages to get on today.

how are the wave counts going. what I am working on.Any thoughts

 

[Hooya]

anyone work out what Ive done with this chart???

 

[barjon]

2 day candles?

 

[Hooya]

sort of....if the next day is an inside day ignore the candle and if the next day is an outside day(both greater high & lower low). Plot that candle but delete the previous on. Looks quite smooth

 

[barjon]

interesting idea - a bit similar to the "melded" candles technique
to help clarify things.

not so sure about removing the previous candle after an outside
day - engulfing candles are usually pretty significant so wouldn't
want to blur their impact at all.

 

[Hooya]

the previous day wouldnt be as important as a new low and new high would have been made? ??? but if you are using the patterns then you couldn't remove any of them really. I was thinking more along the line of a smoothed trend and support resistance areas. Guess you could use a bar chart instead.

 

[barjon]

mmm, certainly helps present a smoother picture (and points up
the eod support provided by the base of that long white!!).

Wonder what tomorrow holds? I know the chat on the boards
was already shortish (didn't you go short the Wednesday
evening just before the close?) but I still felt pretty uncomfortable
making money from other peoples misery. It might have gone
down anyway, but the Madrid tragedy must have triggered most
of it.

 

[barjon]

Not sure signals are all that reliable if the market is still in "shock"
mood. Friday's hammer at the support given by the long up
candle is positive (first resistance at around 495) but it's a day
to wait and see even if you feel like trading.

 

[Hooya]

think it was going down already.....or it was in the US anyway. Looking quite bearish on a weekly basis imo but thats quite a long time frame so anthing could happen intraday. Looing to short this morning. Will pop back later in the day

 

[jonray]

Just a quick question(If its been answered elswewhere please direct me), but why is there a 9 point difference between df4 and ig-markets ftse100 daily cash this morning. Who's ripping who off?

 

[oatman]

They all have different books. They take it in turns. :cheesy: