FTSE indicators?

[cd173]

Morning all

Can anyone tell me what are good indicators for FTSE trending. IE for the Dow I use the S&P futures, tick, trin and mighty 5 index to decide on bullish or bearish stance.

Is there anything similar for the FTSE?

Also, with regards to daily point gains, I would be interested to know what daily average point gain is achieveable over a year. I'm aiming between 20 to 30 points per day. Is this too high?

Any help kindly appreciated!

C

 

[TBS]

Also, with regards to daily point gains, I would be interested to know what daily average point gain is achieveable over a year. I'm aiming between 20 to 30 points per day. Is this too high?

Hi C

You can get a view on the daily average points movement of ftse futures here:

http://www.thetradepit.com/pages/dailypivots.xls

FTSE is currently going through a fairly staid period of movement, a series of small daily ranges interspersed with the odd big run.

20-30 points per day is just about acheiveable but that comes down to how you are trading it and what volume of lots or £ per point you are looking at - all in all a difficult trade at the moment - imho

 

[cd173]

Thanks TBS

I'll check it out

 

[oatman]

TBS, you said it mate! Ftse ranges were around 120 points a day when I first looked at it about 3 yrs ago.
Hard work now.

 

[TBS]

Hi oatman,

I've been trading ftse futures for the past 8 years, the last 2 have been bloody hard work. When I first started I wouldn't consider swings of less than 50 points as worth trading, I now work down to 20 points and that is a struggle at the moment.

Dax is a different story, but still not as 'easy' as it was.

 

[cd173]

Hi Everyone

I tend to use candlestick techniques for reversals and they work fantastic on the DOW & the Hang Seng as they are big markets with big swings.

However, they don't work to well on quiet trends as it were...like today.

Any suggests to what does work on days like today?

C

 

[mercury7]

mighty 5 index?

Hi cd173,

Regarding your post, I understand your other indicators quite well, but am not sure with the expression mighty 5, could you elaborate?
Thanks

 

[cd173]

Hello Mercury7

The Mighty 5 Index is from the Pristine method of trading. It's used to gauge an overall health of the US markets and is as follows:

1) General Electric (GE)- Use to gauge the overall state of the US market. If GE falls, so will the market and vice versa. So if market is down but GE up, look for market to reverse

2)Citigroup (C)- Represents the state of the entire financial sector

3)Microsoft (MSFT) - Represents the Nasdaq and the tech stocks

4)AOL - Represents Internet stocks

5)General Motors (GM)- Shows the state of the US economy. IE if GM is down then things not too rosy etc etc.

You can find further details at www.pristine.com

Hope this helps!

C

 

[mercury7]

mighty5

Thanks cd for info.
Pristine is quite interesting as well.
Kevin

 

[Lambchops]

TBS - Do you have a 20 point target or is that your average points gain?

 

[TBS]

TBS - Do you have a 20 point target or is that your average points gain?

Neither, just the smallest pointage at which I would consider closing or reversing a position that is going against me.

 

[SOCRATES]

Hi Everyone

I tend to use candlestick techniques for reversals and they work fantastic on the DOW & the Hang Seng as they are big markets with big swings.

However, they don't work to well on quiet trends as it were...like today.

Any suggests to what does work on days like today?

C

''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
It's very simple really, abstention if market conditions are such
that they do not merit your attention.
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[andrewmooton]

cd173: could you please explain what these candlestick techniques are?

do u know if they would work with spreadbetting?

 

[cd173]

Hi Andrew

I got a few strategies from Pristine's 'Tools & Tactics for the Master Day Trader'. I've now moved to futures for day stuff as SB for this is very difficult. You can quite happily swing trade with SB though.
PM me if you have any more specific questions.

Cheers