Trading the FTSE - Spreadbetting

[Bawbaw]

Hi all!

Failry new to this game...
I am planning on using St Patricks day in Ireland as an opportunity to trade the FTSE100 from 8am till 4.30pm - I have a fairly weak trading plan -
My question is- what paramaters should I use for the MACD and RSI - as well as moving averages from the technical analysis point of view...
Are there any fundamentals that could affect my position? Company annoucements/results?
I'm currently seeing that that after this weeks rally that signs are good- but am sure there will be profit taking between now and my day off...
I am planning on both taking a singular position from open to close and also possibly swinging in and out in order to take advantage of long and short usage with Spreadbetting

Any advice would be welcome...

 

[advfntrader]

if you've never day traded before you'll probably lose you know!

 

[Bawbaw]

if you've never day traded before you'll probably lose you know!

I understand the risks alright in general- except this is a Risk Free trade day- min that the SB company absorb the losses and I get to keep the profits - so am just wanting to hear advice on what news/annoucements may have an effect either a long or short position....
also as to what length MA that would be best....