swingin' the ftse: 2008

[barjon]

I had an excellent day. I hope that you guys had the same.

No stress---I'm out of the market until tomorrow.

Playing the usual shorting game---The first trade did not work but the second took me right through until the close.

Split

Ah, but if you'd taken that last eod sell signal @ 812- you'd be sitting on nearly 400 points with scarcely a tremour of concern along the way :cheesy: Your S&P would have done even better with an entry the same day (18/6) at around 1348 down to 1261.52 at tonights close. Dear old DOW never gave a signal though and NASDAQ's was a no go because of the gap opening.

good trading

jon

 

[si1503]

I had an excellent day. I hope that you guys had the same.

No stress---I'm out of the market until tomorrow.

Playing the usual shorting game---The first trade did not work but the second took me right through until the close.

Split

Well done. My day was awful - considering what happened once I got stopped out on everything. Shorted nasdaq, S&P, Ftse and russell2k, hit 6 stops in morning and 2 left rolling, lost about 140 on the stops but made nearly 300 on the 2 left rolling! could have been a grand but I shorted too early today. Patience!!!

To make it worse I then went long on crude and got stopped in 142's, to then see it reach the 144's. Crap, stressful, angry...! Grrr.

I think I am learning not to set stops as tight when going with the market, and of course be more darn patient! Lessons learnt (I hope!).

I will try and be a bit less rushed/hasty with my entries tomorrow. I need to stop looking at where the price was and rather where it is and where it is heading!

 

[spanish89]

Ftse going to crash down again tomorrow cos oil and nonfarms.

 

[atrim]

Ah, but if you'd taken that last eod sell signal @ 812- you'd be sitting on nearly 400 points with scarcely a tremour of concern along the way :cheesy: Your S&P would have done even better with an entry the same day (18/6) at around 1348 down to 1261.52 at tonights close. Dear old DOW never gave a signal though and NASDAQ's was a no go because of the gap opening.

good trading

jon

What do these 'signals' look like?

 

[Splitlink]

Ah, but if you'd taken that last eod sell signal @ 812- you'd be sitting on nearly 400 points with scarcely a tremour of concern along the way :cheesy: Your S&P would have done even better with an entry the same day (18/6) at around 1348 down to 1261.52 at tonights close. Dear old DOW never gave a signal though and NASDAQ's was a no go because of the gap opening.

good trading

jon

Seriously, Jon, I've had a good month just doing what you suggested when I asked you how you decided on the difference between a pullback and a breakout. You said, "I assume that it's a pullback", or words to that effect. It's a question of not dithering, just say "It's a downtrend and this is just a pullback" It takes the stress right out of it.

 

[barjon]

What do these 'signals' look like?

atrim

First 3+bar pullback after change of swing trend (see chart). Pull up an eod S&P chart and you'll see the same. The simple 3bar swing approach is (was) the main topic of the thread even though we enjoy the diversion of intraday chat since the eod signals don't come thick and fast

good trading

jon

 

[barjon]

Seriously, Jon, I've had a good month just doing what you suggested when I asked you how you decided on the difference between a pullback and a breakout. You said, "I assume that it's a pullback", or words to that effect. It's a question of not dithering, just say "It's a downtrend and this is just a pullback" It takes the stress right out of it.

split

Do you want a reference to open another account in the Caymans then I think I added "..............until it proves otherwise" didn't I? It's not a great insight since it only reflects the reality that nothing's for certain, but I'm glad it's kept your stress levels down. We can't get too wound up at our age can we :cheesy:

Mind you, everything is pretty easy when in such a good trend (except for those who are hooked on reversals and persist in trying to catch a falling knife).

good trading

jon

 

[Splitlink]

The "until it proves otherwise" part, we haven't got to yet. In any case, I've gotta plan.

 

[Splitlink]

I'm using the high points on both the latest SP and FT hourly bars as the highs for the morning. So I'm short now. Not to say I won't be taken out but that's another story.

 

[Splitlink]

I´m closing Footsie and may do what I did yesterday, let the SP run until I get home.


PS. Got stopped within a minute of the bell.

 

[barjon]

The "until it proves otherwise" part, we haven't got to yet. In any case, I've gotta plan.

oooh, not 1,2,3 and Bollinger Bands

good trading

jon

 

[Splitlink]

oooh, not 1,2,3 and Bollinger Bands

good trading

jon

First, I'm going to wait for a signal from you, on this thread. Until then, it's down..

Yesterday disappointed. I was slow to take profits on Footsie and it reduced to five points. I was stopped on SP with 4 points loss.

 

[Splitlink]

Everyone busy watching the drop?

The market has not gone lower than it was last week and it was lower in Jan.

Let's see what happens this afternoon.

I'm still short long term in LLOY, but my "thing" about overnighting the index would not let me get in to the market this morning. Hiope you guys benefitted, though.

 

[barjon]

Ah, one day I'll persuade you, split

Pretty strong recovery from the depths so far. Bit of panic about methinks which may mean we're coming near the end (or may not)

good trading

jon

 

[foredog]

The media is full of stories of us entering a bear market, this is usually a (short term at least) sign for a rally. It was the same in March 2003, the morning after the market hit what was to be the low the BBC were outside offices in the City trying to get a soundbite.......

 

[Hoggums]

Personally I would like to see an exhaustive stretch to the downside before I went heavily long. However you could argue that the FTSE has now bottomed out at around 5355 twice in the last few days so that could be the base to build upon.

It's such a jittery market at the moment I'd rather wait for confirmation and lose a few points on the upside - I'll treat that as the cost of knowledge in this case.

 

[foredog]

Wise words. You don't need to hit the top or bottom to make money.

 

[barjon]

Yeah, not much point in trying to call the bottom. Any way I need another swing high to work off!! the fall has been so precipitate that the last (and only) swing high was mid June (gave the 5812 short entry that's still running) which means I wouldn't see a swing trend change signal 'til 5930 goes. Bit late in the day that!!!!

good trading

jon

 

[foredog]

Ah, one day I'll persuade you, split

Pretty strong recovery from the depths so far. Bit of panic about methinks which may mean we're coming near the end (or may not)

good trading

jon

i think you called that about spot on for a dead cat at least Jon...good trading indeed

 

[trigger]

i think you called that about spot on for a dead cat at least Jon...good trading indeed

Low volumes on breach of trendline so it may well be a cat, and a dead one at that

Be well

steve