Message For Ftse Traders......

mEmmerrr said:
Well, I have learned another valuable lesson. GO NOWHERE NEAR THE DOW (for me...)

On capital spreads the stop is pretty ludicrous, like a minimum of 12 points away which is gash for my trading style.

Luckily I found this out whilst still getting out for +10 but still, I will no longer be looking for opportunities there, but just look at it for reference.

FTSE ftw
Click to expand...

Tradefair stop is 14 points away for the DOW! I try to stay well clear.

It would be good to know what the stop level is for the FTSE on other sites, might be good for us newbies. Can anyone advise on IG and others?
 
uksnowman said:
Tradefair stop is 14 points away for the DOW! I try to stay well clear.

It would be good to know what the stop level is for the FTSE on other sites, might be good for us newbies. Can anyone advise on IG and others?
Click to expand...

It's 10 on IG
 
hahaha............LOL!!

I can't believe it i used the same strategy as last night and i have made my daily profit target again......

I just shorted the S&P and Dow before I went to hospital in the evening.....i was upset as my long Dow did not hit 8380-8400 as I thought it would and had seen it swing from £100 profit to break even.......

shorted
Dow @ 8280
S&p @ 868 .........

came back home and had made my daily target, exactly the same as last night!!

CFD's CMC markets .........
Dow currently @ 8228/8233 spread after hours 5 points
S&P 864.4 -864.9 0.5 spread after hours

I will take it easy again tomorrow.........

Although I have a short position on FTSE still open after the consecutive failed attempts at 4320.....

short FTSE @ 4302 ...stop loss 4330 ...target 4250!!

I was sent an email from Sir William and was told :
"we trade what we see, not what we think!"

very true indeed
 
Geofract said:
After the conversations on this board at the weekend regarding volatility, I decided to try and write a little bit of code to find volatile instruments with proscreener. Proscreener is a search facility available free within IG charts and prorealtime. If anyone wants to install it, but doesn't know how, send me a pm.

It's based on Average True Range, over an 8 hour period. And can be applied to any instrument. I've written a 20 day version too, if anyone's interested - probably more useful for swing traders though.


timeframe (1 hour)
atr = 0
atr = AverageTrueRange[8]

price = close[8]

VOL = 100*(atr/price)

sp = close
c1 = (sp >= 250)
c2 = (sp <= 500)

SCREENER[VOL and c1 and c2] sort by VOL as "VOL %"


This will return the most volatile instruments in the last 8 hours of trading, based on ATR.

The lines c1/c2 filter results, to only return instruments between those values, easily changed though... and definately would have to be changed for indices and currencies. Just up the values!

Using this with IG charts isn't perfect I have to admit, as there's lots of spiky data, which screws up the results a little. Also, there's no ways to filter out just the FTSE 350 shares, from allshares... ****! Anyway, still very useful for the prorealtime free EOD data.

Any comments/crits on the code welcome.

Ollie
Click to expand...

Interesting, I'm impressed with your programming skills.......
 
wallstreet1928 said:
hahaha............LOL!!

I can't believe it i used the same strategy as last night and i have made my daily profit target again......

I just shorted the S&P and Dow before I went to hospital in the evening.....i was upset as my long Dow did not hit 8380-8400 as I thought it would and had seen it swing from £100 profit to break even.......

shorted
Dow @ 8280
S&p @ 868 .........

came back home and had made my daily target, exactly the same as last night!!

CFD's CMC markets .........
Dow currently @ 8228/8233 spread after hours 5 points
S&P 864.4 -864.9 0.5 spread after hours

I will take it easy again tomorrow.........

Although I have a short position on FTSE still open after the consecutive failed attempts at 4320.....

short FTSE @ 4302 ...stop loss 4330 ...target 4250!!

I was sent an email from Sir William and was told :
"we trade what we see, not what we think!"

very true indeed
Click to expand...

okay taken your advice and gone with IG Index and doing small stakes 10-50p, gone with:

US oil long 3980 stop 3930 limit 4040

ftse short 4294 stop 4334 limit 4254
 
Thanks WS!

I wrote a Standard Deviation version aswell - based on 20 days:


timeframe (1 day)

price = close[20]

dev = STD[20](price)

sp = close
c1 = (sp >= 1000)
c2 = (sp <= 2000)

SCREENER[dev and c1 and c2] sort by dev as "DEV"


Not sure my programming is quite spot on with this version though... I need to find a real programmer look at it. Any takers?

Ollie
 
wallstreet1928 said:
hahaha............LOL!!

I can't believe it i used the same strategy as last night and i have made my daily profit target again......
Click to expand...

(y)(y)(y)

You really deserve mate! Its just the reward of the hard work you have been doing..

Its good to see people like you!
 
Fibs

I found this great tutorial regarding fib trading on You Tube - YouTube - Fibonacci Forex Trading

Thought it might be interesting for some of you. I traded like that today, and it worked very well. Netted +111 points with FTSE and GBP/EUR. 4 winners, 1 breakeven, no loosers.

Trust me, that's a miracle for me, as I still have so much to learn. I certainly won't be making live calls for donkeys!

Ollie
 
Hi Guys,
Started late today, running around trying todo the daily chores too.
Anyway, 3 trades for me on FTSE and Dow, managed to get only 20 points after a slow start...

Hopefuly some good opportunities tmrw..
 
Si55AMG said:
Hi Guys,
Started late today, running around trying todo the daily chores too.
Anyway, 3 trades for me on FTSE and Dow, managed to get only 20 points after a slow start...

Hopefuly some good opportunities tmrw..
Click to expand...

I hope you do well tomorrow too my friend.....

thats good at least you beat the market? 20 points up?
 
Geofract said:
I found this great tutorial regarding fib trading on You Tube - YouTube - Fibonacci Forex Trading

Thought it might be interesting for some of you. I traded like that today, and it worked very well. Netted +111 points with FTSE and GBP/EUR. 4 winners, 1 breakeven, no loosers.

Trust me, that's a miracle for me, as I still have so much to learn. I certainly won't be making live calls for donkeys!

Ollie
Click to expand...


fantastic..........that is very good for a beginner trust me, I wish I was that good when i started!!

well done .........

there is nothing wrong with live calls my friend, what is the most that is going to happen.....

your stop loss will get triggered!! So what......there is no ego involved with trading!!

trust me it will make trading more enjoyable and much more fun.......

so yes my friend, join us in live calls........

it will help you instil discipline, by finding entry,exit and making sure you have stop losses
 
vinicius said:
(y)(y)(y)

You really deserve mate! Its just the reward of the hard work you have been doing..

Its good to see people like you!
Click to expand...

thank you for your kind words ........

I thought i was crazy awake at this time looking at the market(still have short Gold $895, stop loss $900 open) ........I am not alone and i suppose traders are all the same......
 
wallstreet1928 said:
thank you for your kind words ........

I thought i was crazy awake at this time looking at the market(still have short Gold $895, stop loss $900 open) ........I am not alone and i suppose traders are all the same......
Click to expand...

We are all crazy friend.. My girl tells me this all the time.. She tells me that I give more atention to the charts than her.. haha

Everything looking bearish now on daily TF.. but, I`ll control myself and wait until tomorrow..
 
Yep, i am watching to see if the FTSE breaks through the bottom of the lower trend line - see my earlier chart if that doesn't figure.

I really should go to bed though!

Ollie
 
Geofract said:
I'd just hate for someone to take my calls, and possibly loose as a result!
Click to expand...

Nobody follows our calls my friend, i don't think we work for Merrill Lynch or UBS.......

we are just novices trying to keep our head above the water.......

i provide live calls and also look at other peoples live calls so It can give me the ability to criticise my trading plan......If your call is wrong and stop loss triggered whilst your friends target is hit then you can go back and re-evaluate and see what your error was in your analysis and prevent a repeat of that mistake.....

i haven't got a clue about fibbonacci levels but I have been learning them recently......

I joined this thread/forum to learn and teach what i have learned........
 
vinicius said:
We are all crazy friend.. My girl tells me this all the time.. She tells me that I give more atention to the charts than her.. haha

Everything looking bearish now on daily TF.. but, I`ll control myself and wait until tomorrow..
Click to expand...


LOL.........poor woman!!

yes indeed it does hence short FTSE.......@ 4302 !!
 
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