Ftse100

The same as its doing for every single trader on the planet, some win and most lose.

It's simply moving up and down.

Try taking a breather.
 
I saw there was a possibility of a short trade to catch the fall from Friday's close. And I did catch some of it but then the SB quotes reversed overnight and stopped me out for only a small gain: but that's the point - stops. Where you get in is important, but where you get out is crucial.
 
imo there was only one trade to make - long at about 820am and hold till market close.
 
Not for me chocolate - I don't normally daytrade so stayed flat yesterday during market hours.

However, by evening, with Dow still trading in narrow range I put in orders to buy and sell outside the range, translating this to the FTSE SB chart - a breakout in these volatile times one way or the other was highly probable - the buy was soon triggered and I made an easy 58pts net while there was some crap telly on.
 
if you see weekly chart then you will note that FTSE is making correction. so i beleive that you should trade weekly basis then you will be benefited from FTSE.
 
tomorton said:
Not for me chocolate - I don't normally daytrade so stayed flat yesterday during market hours.

However, by evening, with Dow still trading in narrow range I put in orders to buy and sell outside the range, translating this to the FTSE SB chart - a breakout in these volatile times one way or the other was highly probable - the buy was soon triggered and I made an easy 58pts net while there was some crap telly on.
Click to expand...

Nice. From my view (as a daytrader) I saw it come down to test the highs of last weeks range and set my initial target as the high of the friday rally.

20081021-xnsyyamr97urkpa2i42bjcgyjc.jpg
 
chocolate13 said:
imo there was only one trade to make - long at about 820am and hold till market close.
Click to expand...

I see you've been a member for almost a year, so you must have read many posts and at least paper traded by now.

Are you sure this is the only trade to take, what about scalpers, position traders, swing traders ect.

Look at the graph and you'll see at least 3x 50pt retracements (aprox), therefor, if your spread is 2pts, get out at the top and get back in at the bottom(or near as you can) or just simply reverse for as much as you can (swing it).

08:20 is the bottom.

If you worked on a 10pt stop, could you wear the pain of 50+pts offside???

How many trades did you take yesterday?
How many points did you make?
How much of your account(percentage) were you trading with? (psycological reasons)


Or are you just working in hindsight???

Easy to see what to do after the event....I would have got in 08:27 and 24 seconds.

Food for thought.
 
No, I traded terribly yesterday, because I got scared when it started ranging - but I'm still learning. "The only trade to take" - to clarify, I meant consistent with my strategy (of which my execution is still terrible) - which is to go in close to pivotal points. If it doesn't go I'd get out for a scratch or for a 45tick profit if possible (my profit target here).

820 was a guess - I went long at the hammer into support. Dunno what time that was exactly.
 
well the 50 MA is still pointing up on the half hour chart and stochastics are entering oversold so i think it there could be some more bullish action today ?
still learning myself.
 
Last edited:
price777999 said:
hmmm ...maybe its just gona go sideways today.
Click to expand...


If it seems to be going sideways then either dont trade today (or anyday)or better still, shorten your timeframe using the same indicators and see it that works, if not, change the indicators until they do.

Todays trades could have been:

08:50 to 09:14 Long for 34pts
09:16 to 10:00 Short for 40pts
10:00 to 11:18 Long for 80pts

Granted this is the best you could have done and in optimum conditions that would have been with hindsight or foresight with luck. Either way there were oportunities to be had, there still are right now and will be later on, tommorrow, the day after and the day after that ect.

From top to bottom, or todays trading range so far has been 100pts, the only people that could call that sideways are position traders who hold for many months, even they would struggle to call it sideways.


Just in case you feel the above was not possible, there were thousands of traders around the world this morning catching some easy rides, if you find it difficult to catch these, you'll find it dam near impossible to catch the trends and by the time you do, it could be on the verge of reversing.

Here are my trades so far today:

1 loss for -8pts(minus) Long
1 win for +5pts Short
1 win for +41pts Long

Won: +£255
Lost -£40

Total +£215

Screenshot to show, account number removed for security purposes.

Also, have provided a graph of those two trends.

Note: only 3 trades done, be aware that although the date at the top shows today's trades, it also shows the last 4 from yesterday afternoon.
 

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Out at 4290, target was really 4275 but I'm hungry and happy with my profit.

edit: went all the way to 4244, with my support area as 4238 looking to go long.
 
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Today setting up a whiplash pattern - open wth gap above last close, then retreat to close lower than open and in lower 50% of day's range. if this continues, chance to re-join downtrend with a short at the close.
 
Lee Shepherd said:
If it seems to be going sideways then either dont trade today (or anyday)or better still, shorten your timeframe using the same indicators and see it that works, if not, change the indicators until they do.

Todays trades could have been:

08:50 to 09:14 Long for 34pts
09:16 to 10:00 Short for 40pts
10:00 to 11:18 Long for 80pts

Granted this is the best you could have done and in optimum conditions that would have been with hindsight or foresight with luck. Either way there were oportunities to be had, there still are right now and will be later on, tommorrow, the day after and the day after that ect.

From top to bottom, or todays trading range so far has been 100pts, the only people that could call that sideways are position traders who hold for many months, even they would struggle to call it sideways.


Just in case you feel the above was not possible, there were thousands of traders around the world this morning catching some easy rides, if you find it difficult to catch these, you'll find it dam near impossible to catch the trends and by the time you do, it could be on the verge of reversing.

Here are my trades so far today:

1 loss for -8pts(minus) Long
1 win for +5pts Short
1 win for +41pts Long

Won: +£255
Lost -£40

Total +£215

Screenshot to show, account number removed for security purposes.

Also, have provided a graph of those two trends.

Note: only 3 trades done, be aware that although the date at the top shows today's trades, it also shows the last 4 from yesterday afternoon.
Click to expand...

cheers for sharing that mate ,
I was gona take that long at 10:08 am myself but my 50 ma was pointing down (1min).
now i look at it on the 2 min chart its pointing up ...
well gona have a good look at this today and see were im going wrong.
 
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