Intraday Swing Trading FTSE 100

[monkey180]

Currently having good results going Long / Short on a 14, 17, 9 MACD.

Although last week was volatile so the MACD work better,

Are there any other things I should consider, differ ant indicators, money management.


It is very annoying when the MACD is coming into crossing you "give back" so many points as it get drawn from the data.


Thanks

 

[Doomberg]

I'd add the stochastics as well as the macd as its slightly faster, although neither are good enough to be trusted without other reasons to place the trade... what time frame are you using?

 

[monkey180]

1 to 3 Min Time Frame, as soon at the cross over happens flip to Long or Short.

However if I get over 10 points I get out before the crossover.

What other reasons would you use to place a trade with a Intraday Swing Strategy?

 

[Doomberg]

Well firstly trading trading on 1-3 min looking for 10 points max is not so much swing trading...

It would be considered scalping, which for some reason is hated on by most people in here

And tbh i used to love scalping but now i like to go for a minimum of 10 points so i usually
wait for more things to be pointing towards a trade, like chart signals and i also take in to
account which way the trend is going as its not good to scalp the opposite of the trend

You on skype? If you fancy a chat tomorrow in trading hours i'd be happy to share some scalping ideas

Skype name: Doomberg1

 

[monkey180]

Hi Doomberg,

Thanks very much, that would be very useful, not on Skype could always keep taking via this thread, if that could work for you. Could sign up to Skype however.

I am very new to trading, and am just looking a BUY HERE SELL HERE simple rules to follow, and then add in all the other things that I am sure come with experience.

Yes I thought scalping was loading about 500 pound a point and then just trying to get 1 or two pips, and taking advantage wrongly of the lag in SB price.

If I am scalping then would the likes of ETX put me on manual, I am aware that Pro Spreads openly accept it, but their min is 10 per points, I am no where near ready to put that much on, I would like this trading to be self accelerating / funding, building slowly, not interested in blowing my account and then refunding and entering some sort of spiral.

Yes and using longer time frames, setting stop losses ect and taking a more less aggressive approach, is something I want to go towards, but for now am after clear cut signals to get me started.

How did you used to scalp, was is the FTSE? And what indicators did you use?

Thanks

 

[Doomberg]

Well there is no clear cut Buy here, Sell here signals what so ever in the stockmarket i'm afraid, if there was then we'd all be billionaires... sure there is indicators that can 'help' but none of them are 'the holy grail'. Regarding scalping the company i have found to be most tolerant are IG index and there were times where i had done 50+ trades in a day and not heard a whisper, sometimes holding positions for as little as 10 seconds, however ETX were not so tolerant and they had me on dealer referral which basically means every trade is checked by a dealer before close and this ruins scalping. RE scalping i liked the FTSE, and found it good, i didn't use any indicators my plan was very simple.. i'd wait for a price move that looked like it would not hold, and then i'd back the price hoping for a correction, and always make sure that my move was with the trend.

To sum up scalping, its hard work lol and now i am a better trader its not my 1st choice of making money

Good luck and keep us informed

 

[monkey180]

Hi Doomberg, I have deiced that a 1 min TF is too short, in and out too often on the MACD Crossover,

Please take a look at the FTSE today with a 14,17,9 MACD on 3 Mins, what tips / money management advice could you offer me?

 

[Doomberg]

Trading using the macd as a decision of when to long or short is not really the way i trade tbh... its more about having an eye for the markets which none of us can give you, you only start to find it by watching charts over long periods of time... what type of success are you getting atm using the above system? And i can't really give money management advice without knowing the size of your account

 

[monkey180]

Hello again, I am getting about 40 points per day on average.

I meant more position management, for example get out when you are up 12, and get out when down more than 5.

 

[Doomberg]

If you are up 40 a day on average then just keep doing what you are doing, and perfect it until its consistent....

If you can get that every day "consistently" then imagine when you can afford £10 per point

I got +27 today and i'm happy about that, any more than 10 points a day (every trading day) is very good going.

 

[monkey180]

Hmmm going up to 4 Min TIme Frame, in and out is about 5 points loss.

If I go to a higher time frame should I then relax the MACD?