Yeah, I was wondering about that. I mean, they're very useful if you think the market is WAY off the correct price (as I did at around 4500), or want an alternative to a stop-loss (so you can use them to provide a worse case scenario on a trade), but can't see myself trading them heavily.
Yeah, I was wondering about that. I mean, they're very useful if you think the market is WAY off the correct price (as I did at around 4500), or want an alternative to a stop-loss (so you can use them to provide a worse case scenario on a trade), but can't see myself trading them heavily.
HI rnicoll
True, to use them seriously you need to fully understand deltas, volatility and pricing, me? i just bought and sold at premium, NOT a wise idea without the above knowledge!
I started last year very rocky almost blowing my acc, then took advice from SEMM and re evaluated.
From then on (with the help of a massive downtrend) made it good.
Maths is not my forte so will retire that way of trading now and try SB
steve
RedGreenBen
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I got stopped out EUR/USD this morning and have just read that the weird prices from 09:25 -> 09:50 were due to a certain Dutch bank pressing the wrong button and then rectifying their mistake. Grrrrr.
One profitable FTSE trade and now lacking inspiration.
So here's the plan... I'm going to call it a day. This guarantees a 5% clear, clean trend the second I log-off which the rest of you can benefit from. Enjoy.
Ben
One profitable FTSE trade and now lacking inspiration.
So here's the plan... I'm going to call it a day. This guarantees a 5% clear, clean trend the second I log-off which the rest of you can benefit from. Enjoy.
Ben
minime69 - Thanks, yep it was JPM, that will teach me to have CBeebies on louder than Ransquawk!
wakka - you believe in fibs? We need more people like you then I can start using them
110 - 150 range until anything tells me different. I am so bored after yesterday's fireworks that I have even started trading USD/JPY!
Can't say I "believe" in them, Im too agnostic for that.
I find them useful for making general observations about the state of the market and I try to set my stops and limit levels with them... Still learning about them really TBH!
It rather terrifies me mistakes like this still happen, you know that?
Your sacrifice is appreciated
Looks like we got some resistance at 4115 tho, which is another 23% fibonacci level. Im keeping my short open..
(ps. note my sig...)
Dentalfloss
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clbfjc.the p/f charts are the house package with igmarkets.
go to real time charts.on price click on point and figure
my eod are from updata.i shall be switching to bullseye at some stage ,that is £10 a month.however,sharescope have p/f
go to real time charts.on price click on point and figure
my eod are from updata.i shall be switching to bullseye at some stage ,that is £10 a month.however,sharescope have p/f
I think we are going lower still. Ive averaged in, but am still long at 4235, feeling the pain!
My next buy will be 4000, then every 50 points below.
As for options if you really want to get involved you should sell vol because its quite high at the moment and when/if the rally ive been praying for comes along vol will drop off and u can buy your options back! (I would be selling puts, rather than selling calls)
My next buy will be 4000, then every 50 points below.
As for options if you really want to get involved you should sell vol because its quite high at the moment and when/if the rally ive been praying for comes along vol will drop off and u can buy your options back! (I would be selling puts, rather than selling calls)
RedGreenBen
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FWIW, and with my usual caveats, I'd concentrate on S/R based on price before worrying too much about fibs. On longer timescales they may become relevant, but intraday price tells you 90% of what you need to know.
It's easy to think that fibs work as calculating them from small moves produces a shed load of levels in a relatively small area of price, one of them is bound to work!
Ben
SuddenDeath
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7 handle on dow wont be good for ftse100, perhaps it goes below 4000
Dentalfloss
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Dentalfloss
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a big bounce in the dow from 8000
Hi
I notice a few of you knew what time JPM earnings figures were released today, I was wondering what service/ services you use to ascertain UK/ US earnings data. I would be grateful for your insights.
There are lots of economic calenders around, financial calenders seem to be a bit thin on the ground.
Peace
I notice a few of you knew what time JPM earnings figures were released today, I was wondering what service/ services you use to ascertain UK/ US earnings data. I would be grateful for your insights.
There are lots of economic calenders around, financial calenders seem to be a bit thin on the ground.
Peace
Forexnews.com might help a bit, but mostly I track down the data sources themselves and see if they have RSS feeds, for example Bank of England|Publications - which you can then subscribe to with something like Google Reader ( http://www.google.com/reader ), and read them all in one place.
Still alive. Been mostly watching the market today and going "What on earth is it doing?"
Chelski
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I have had a couple of Shorts of the Highs, using Divergence. All good trades but small profits as they chop about and missed my exits. Now after an age great Divergence on 5 Min cash chart, missed it doing this! 20 plus points for grabs!
Chelski
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Can't win them all!
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Very true
Did something specific happen at 11am, BTW, anyone? The market seems to have decided where it was going at that point...
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