Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

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Da.DesiTrader

Well-known member
472 3
Hi DesiTrader,
What was your rationale behind going short at 5220?

Just trying learn from the thought process. Thanks is advance.
Regards,

SDG
Number of things. Resistance trend line over couple of troughs on dailies. Horizontal resistance level. Shooting star type candle on 30M and 15M. Market already made more than 40 points move since start. An exhaustion is very likely. A proper break of this by reaching upto 50ish would mean the trade was wrong. So stop is above 5050. Therefore good risk reward.

Lastly, US futures whenever they are very high from the open, they go for a strong gapfill (may not fill it, but they go for it). That's when you can catch FTSE short and amend it to b/e.
 

wallstreet1928

Legendary member
6,609 89
We are coming into resistance now chaps........

@ 5225 .......then we have a big gap between 5225 - 5250 region

my variables are showing signs of exhaustion .....

i will wait for this trend line to be negated before taking a potential short opportunity

FTSE very bullish above 5166-5168

But DAX still lagging ............we need to get above 5613-5615 in order to negate bear flag on daily chart

but remember my friends the FTSE has to close today above 5166-5168 in order to negate the inside bar ............
 

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dealer911

Well-known member
436 24
Hi Dealer911,
Do you spread between the Z(FTSE Futures) and FTSE 100(Cash) or arbitrage between the 2 in any way or use the one as a leading indicator for the other???
Thanks,

SDG
Hi superdrive.. I just trade outrights. Sometimes I spread between DAX and FTSE or Nasdaq and S&P if theres a strong story in one of the companies in the INDEX. Mainly outrights with strict stop loss policy.. always get a bit nervous if there are too many people on my side of the market which is why i check that paddy power page to see how people are betting.. I am mainly an event driven trader though but I use technicals to try and time trades and manage my risk!.. how about you ?
 

Da.DesiTrader

Well-known member
472 3
Hi superdrive.. I just trade outrights. Sometimes I spread between DAX and FTSE or Nasdaq and S&P if theres a strong story in one of the companies in the INDEX. Mainly outrights with strict stop loss policy.. always get a bit nervous if there are too many people on my side of the market which is why i check that paddy power page to see how people are betting.. I am mainly an event driven trader though but I use technicals to try and time trades and manage my risk!.. how about you ?
I also dont like when majority is on my side. I wouldve been happy if more spreadbetters were long and I was short. Good opportunity to squeeze em out.
 

dealer911

Well-known member
436 24
I also dont like when majority is on my side. I wouldve been happy if more spreadbetters were long and I was short. Good opportunity to squeeze em out.
I agree.. I have a tight stop at 5227.. I would have given it a bit more room had the spread betters been neutral!.. 85% of spread betters lose their cash!.I must ad that the paddy power reverse indicator (as i call it) is not very reliable! I like to at least know if i am running with the crowd though!
 

SuperDriveGuy

Active member
129 1
Hi superdrive.. I just trade outrights. Sometimes I spread between DAX and FTSE or Nasdaq and S&P if theres a strong story in one of the companies in the INDEX. Mainly outrights with strict stop loss policy.. always get a bit nervous if there are too many people on my side of the market which is why i check that paddy power page to see how people are betting.. I am mainly an event driven trader though but I use technicals to try and time trades and manage my risk!.. how about you ?
Hi D911,
Still experimenting with various methods not there yet!
I am one of WS's grateful students and learning about support/resistance/trendlines/major index component variables etc. I can now see the light at the end of the tunnel :)
Previously thought I could spread between DAX/FTSE(futures) intraday, but just don't know how i.e. not sure when to take entry exit signals, tried bollinger bands/KC, but limited currently by platform limitations in charting the realtime spread. Waiting for NinjaTrader 7 to do it.
Rgds
 

Da.DesiTrader

Well-known member
472 3
Where's your stop on this London Lad ;-)
Hey SIT. Stop is at 5255. 35 points risk with a target of 45 points. Althought, may exit at 5200, if shows reasonable signs of support there. Alternatively, could just wait for the market to keep going up (like its on weetabix) and PING see my stop loss hit. :cry:

How you doing btw? up for social on 4th?
 

dealer911

Well-known member
436 24
Hi D911,
Still experimenting with various methods not there yet!
I am one of WS's grateful students and learning about support/resistance/trendlines/major index component variables etc. I can now see the light at the end of the tunnel :)
Previously thought I could spread between DAX/FTSE(futures) intraday, but just don't know how i.e. not sure when to take entry exit signals, tried bollinger bands/KC, but limited currently by platform limitations in charting the realtime spread. Waiting for NinjaTrader 7 to do it.
Rgds
It's a tough game spreading between indices!.. sounds easy and less risky but you often end up with 2 headaches instead of 1! I have studied technicals for years (still learning though!) but make most decissions on fundementals.. Just because a spread widens doesnt mean it will narrow again.. i need to know what is driving the the spread wider before I can trade on it.. dont get me wrong though i REALLY value technical analysis..it is the only way to manage your risk in my opinion!
 
Yes doing good thanks, I can't make Fri 4 Dec, already out, is that a definite date? I'd be up for a meet any other time.

Cheers mate.


Quote:
Originally Posted by Second income trader View Post
Where's your stop on this London Lad ;-)
Hey SIT. Stop is at 5255. 35 points risk with a target of 45 points. Althought, may exit at 5200, if shows reasonable signs of support there. Alternatively, could just wait for the market to keep going up (like its on weetabix) and PING see my stop loss hit.

How you doing btw? up for social on 4th?
 
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