"P and F"ing the FTSE

oatman

Senior member
2,879 22
Hello mmillar,

I agree with you.
P&F gives great signals in volatile markets in good volume. But when it quietens and the sideways sets in, it can be a killer.
If you're selective with your trades you can improve results eg. Rather than trade a signal a few points from a high or low I prefer to wait for the trade at a new level or maybe thru a 00. It costs you a few more points to enter but momentum should be better with the break. I usually won't trade against the MA or against a trend line. I don't like to trade 'til about 20mins after the OPG, can be whippy. Let it settle. You can set as many "qualifiers" as you like, depends how often you're happy to trade.

Good luck,
 

Dr Mike

Member
92 1
Hi All

Results for this week were:-
29 wins
30 losses
9 draws

Net profit 99
spreads 63

Net net 33.

Now that I've got 3 weeks worth of data I'll be reviewing it with the objective of reducing the unprofitable trades.

Thanks for all your suggestions
 

Dr Mike

Member
92 1
Apologies

data above is a mix of cumulative and weekly.
correct figures are :-

11 wins
7 losses
3 draws

Net profit 99
spreads 63

Net net 33.
 

Dr Mike

Member
92 1
As you know I like P+F because it clarifies the charts.

Well, usually it does - here is this morning's action on the FTSE.

:eek:
 

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oatman

Senior member
2,879 22
Dr Mike,

It's not so bad, I followed both and got me money back on the second one :LOL: . As usual though...out too soon.
Keep trying........

Be lucky,
 

Dr Mike

Member
92 1
Hi Oatman


I was confused in the middle bit and remembered an old post of TBS's which implied that sometimes it's better to get out when in or approaching a contested area and go back in when the fog has cleared so after spreads I broke even on the first and got 16 points on the final double bottom breakdown.

Cheers
 

oatman

Senior member
2,879 22
Dr Mike,

The first one was too early for me. I like to let it settle(20mins.)
The second one, my signal was 50 not 47. Ended 9 points down.
Sold 35s, payed 21 on a reversal Stop. Not very well placed, but it happens.

Be lucky,
 
 
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