I am flat on the FTSE right now. Still have it in upswing but S&P failed to clear recent swing high last week and we are well ahead on % terms since the July lows. S&P showed a weak finish yesterday and I expect we will retrace most of next week. In the absence of US trading, I do not intend to go long on Monday, even on retracement back towards our 14MA.
Bladerunner
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Rule based trading ......I love it
Rule based trading ......I just love it
Do not blame you at all, good trade or trades Tomorton.
Write a rule then
need another rule to cover the common sense exceptions to the rule, before you no it your up to your neck in paperwork and require rules to cover the rules
good weekend all :clover:
Andy
Rule based trading ......I just love it
Do not blame you at all, good trade or trades Tomorton.
Write a rule then
need another rule to cover the common sense exceptions to the rule, before you no it your up to your neck in paperwork and require rules to cover the rules
good weekend all :clover:
Andy
Rule based trading ......I just love it
Do not blame you at all, good trade or trades Tomorton.
Write a rule then
need another rule to cover the common sense exceptions to the rule, before you no it your up to your neck in paperwork and require rules to cover the rules
good weekend all :clover:
Andy
Andy, put them all into Excel and use the "what if" function. You'll end up with an answer that you, probably, won't like. :smart:
Split
Yes, OK, OK, I know I'm breaking my own rules - which I only just wrote.
Rules are useful, like the rails for a train - but sometimes its just common sense to take the bus......
The only essential rule is don't get wiped out: this one justifies everything.
Anyway, I'm on flippping holiday and I can do what I like, I asked my wife and she told me so.
For Monday, I expect a retracement, but while the index remains in an upswing with 300+pts clearance I will not be going short so soon on the 100. instead, I am entering sell orders on banks and maybe some other stuff like wobbly retailers.
Rules are useful, like the rails for a train - but sometimes its just common sense to take the bus......
The only essential rule is don't get wiped out: this one justifies everything.
Anyway, I'm on flippping holiday and I can do what I like, I asked my wife and she told me so.
For Monday, I expect a retracement, but while the index remains in an upswing with 300+pts clearance I will not be going short so soon on the 100. instead, I am entering sell orders on banks and maybe some other stuff like wobbly retailers.
Don't worry about what we say, we're taking the micky. You've got to have some rules, otherwise it would be a shambles.
Split
puregold24carat
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yes....while on holiday sort yourself out an orgy.....you are easy to wind up!!
Still long BP, and might get a boost if oil price is hiked up by Gustav, have entered a clutch of sell orders below Friday's ranges for some banks and retailers. I suspect we are heading into more than just a retracement next week.
Meantime, I offer this little nugget - an article in Shares prompted me to cast an eye over the buy and sell recommendations being made by UBS - they are the acknowledged industry leader at this and it would be worth anyone ensuring their positions align with their recommendations.
Meantime, I offer this little nugget - an article in Shares prompted me to cast an eye over the buy and sell recommendations being made by UBS - they are the acknowledged industry leader at this and it would be worth anyone ensuring their positions align with their recommendations.
barjon
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Tomorrow should be interesting. DOW closed nearly 70 down on where it was at FTSE close, so FTSE should open down some 30 odd points. Mind you, FTSE traded strong against the DOW all day on Friday so it'll be interesting to see if it keeps going that way.
good trading
jon
good trading
jon
cu20052003
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Hi, FTSE might be having a little retracement B4 slipping
How about taking a look at my thread 'Has the FTSE reached its Top yet?' - use of Fundamentals and TA suggested that 5,650 is the projected Top. Well, not beyond that though.
The high in a candle-stick chart for today of course would be 5,640++ but the close being 5,620++ - it suggests a slow retracement but that would dwindle over time. In terms of FA, the retrace is due to Labour trying to give some tax-earning opportunity away and trying to cover that hole using another LOBANG ( tax ) and that in the short term provide a short lift for banking sector.
Oil and some other commodities should retrace - do look out for it as you can go long. In my opinion, if you are into Forex as well - dump GBP as it will lose value to the USD in the long term! Please tread carefully as Forex and Commodities Futures Contract can ruin a trader!
S K
How about taking a look at my thread 'Has the FTSE reached its Top yet?' - use of Fundamentals and TA suggested that 5,650 is the projected Top. Well, not beyond that though.
The high in a candle-stick chart for today of course would be 5,640++ but the close being 5,620++ - it suggests a slow retracement but that would dwindle over time. In terms of FA, the retrace is due to Labour trying to give some tax-earning opportunity away and trying to cover that hole using another LOBANG ( tax ) and that in the short term provide a short lift for banking sector.
Oil and some other commodities should retrace - do look out for it as you can go long. In my opinion, if you are into Forex as well - dump GBP as it will lose value to the USD in the long term! Please tread carefully as Forex and Commodities Futures Contract can ruin a trader!
S K
Hi tom
Hope all is well, ive moved to position trading the ftse now, still with options, at last doing ok... so far lol...
Been trading this upward price channel long and short and just check on it a few times during the day, far less stressful than trying to daytrade options!!!
Be Well
steve
Daytrading way too stressful for me - each win made me go in again, the sooner the better - each loss made me look for an instant winner to re-balance the day, then the hour, then the last 10 minmutes. Not for me. Felt like a boxing match. Position trading more like chess.
cu20052003
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Hi, Stress is not good
It has been confirmed that stress is not good for the thinker and the doer! Stress cause the system to crack up prematurely and it also uses a lot of energy ( being the requirement to de-stress and also to halt the outbreak of stress to affect other sub-systems ( in this case of the human body ).
There are many tools to let a person handle stress though. If you are interested than contact myself. I am currently in search of interested and dedicated people to participate in a project to get a trading software system into place. There is so far a Uni undergrad who wil be participating in this project which is a partial Open Source as I am expecting 4-5 more persons ( up to max 10 other than myself )!
If you are a developer yourself, then feel free and not hesitate to join me.
S K
--------------------------------------------------------------------------------------------------------Hi there
Be one with GOD, so that HE may appoint a deliver for your Soul-HariHaraBramKalki(S K)
It has been confirmed that stress is not good for the thinker and the doer! Stress cause the system to crack up prematurely and it also uses a lot of energy ( being the requirement to de-stress and also to halt the outbreak of stress to affect other sub-systems ( in this case of the human body ).
There are many tools to let a person handle stress though. If you are interested than contact myself. I am currently in search of interested and dedicated people to participate in a project to get a trading software system into place. There is so far a Uni undergrad who wil be participating in this project which is a partial Open Source as I am expecting 4-5 more persons ( up to max 10 other than myself )!
If you are a developer yourself, then feel free and not hesitate to join me.
S K
--------------------------------------------------------------------------------------------------------Hi there
Be one with GOD, so that HE may appoint a deliver for your Soul-HariHaraBramKalki(S K)
Closed FTSE overnight long early this am session for +21 net. Next opportunity might be a long at tomorrow's close if we close down on today's but still >14MA again. Nothing in sights until then.
S K - I'm not a developer......... but I like to think I am developing.
Better get on with some work.
S K - I'm not a developer......... but I like to think I am developing.
Better get on with some work.
Bladerunner
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Jon
Notice traffic lights are lighting up on the S&P
would you call it 2 lights on Jon going by your rules or guild ?
do you class the low of the 20th Aug (1261) a potencial swing low only ?
Swing Trend
Failure to make new high - first light
Penetration of potential swing low - second light
Penetration of substantive swing low - third light
Close below substantive swing low - fourth light
Ample time (and/or %age) below substantive swing low - fifth light
successfull first retracement - sixth light
Andy
Notice traffic lights are lighting up on the S&P
would you call it 2 lights on Jon going by your rules or guild ?
do you class the low of the 20th Aug (1261) a potencial swing low only ?
Swing Trend
Failure to make new high - first light
Penetration of potential swing low - second light
Penetration of substantive swing low - third light
Close below substantive swing low - fourth light
Ample time (and/or %age) below substantive swing low - fifth light
successfull first retracement - sixth light
Andy
Interceptor
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At long last some action!
The FTSE has been a pretty grim environment for 3 or 4 days, but today-kaboom!
Got out waaaaaay too early, but still mopped up 60+ points.
Now, another day like this tomorrow, and I may even make a profit this week!
The FTSE has been a pretty grim environment for 3 or 4 days, but today-kaboom!
Got out waaaaaay too early, but still mopped up 60+ points.
Now, another day like this tomorrow, and I may even make a profit this week!
Possible trades for tomorrow are all longs -
if we gap down at the open, long order at today's low, exit at tomorrow's close if triggered:
if trade opens a gap below today's low, but not filled tomorrow, leave buy order at today's low valid untilTuesday night:
if we close tomorrow up on the open and in the upper half of the day's range, buy at the close:
if we trade below today's low and close above today's high, buy at close:
if tomorrow is an upswing day, with higher low and higher high (though this seems the most unlikely) go long at today's high.
Like the man said, Kaboom!
if we gap down at the open, long order at today's low, exit at tomorrow's close if triggered:
if trade opens a gap below today's low, but not filled tomorrow, leave buy order at today's low valid untilTuesday night:
if we close tomorrow up on the open and in the upper half of the day's range, buy at the close:
if we trade below today's low and close above today's high, buy at close:
if tomorrow is an upswing day, with higher low and higher high (though this seems the most unlikely) go long at today's high.
Like the man said, Kaboom!
I'm in on long No.1 as well. fingers crossed for a good day.
Interceptor
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FTSE down early, but recovering.
Also, no 8.30am reversal, which(and I may be wrong!) implies a little more strength.
Also, no 8.30am reversal, which(and I may be wrong!) implies a little more strength.
