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

[rezadamus]

I have short FTSE 4155 ...stop loss 4185!!

target 20 MA 4135

hi- why do you have such high stop losses?

 

[wallstreet1928]

hi- why do you have such high stop losses?

research suggests the optimal/efficient stop loss for the greatest return is

25 -30 points for European indices (although DAX is becoming like the DOW)

40 points for US indices (S&P is an exception as it is more calm so I tend to go with 30)

I will try to find the link for you and you can have a read

Especially in this market, its just too volatile. I am a lazy trader and if I attempted a 10 point stop loss it would get taken out very quickly unless you are a very good timer.
Anything below 20 points does not take margin for error into consideration in my opinion but we are all different traders and whatever works for you my friends.......

 

[rezadamus]

long ftse at 4155.8

I have closed this for 3 points profit. I'm not feeling very confident today so I'm taking a break. Daily P&L is 11.3+1.5+3= +15.8 points..

 

[10pips]

Is anyyone in here making consistant profit from FTSE100 at all? Because I personally think day trading this is geniunely not healthy.

 

[bennie83]

Is anyyone in here making consistant profit from FTSE100 at all? Because I personally think day trading this is geniunely not healthy.

I've heard this before about trading the FTSE. People say its better to trade other indices etc, but I've personally found the FTSE pretty smooth to trade. Could I have your take on why you think the FTSE isn't great to trade?

 

[rezadamus]

research suggests the optimal/efficient stop loss for the greatest return is

25 -30 points for European indices (although DAX is becoming like the DOW)

40 points for US indices (S&P is an exception as it is more calm so I tend to go with 30)

I will try to find the link for you and you can have a read

Especially in this market, its just too volatile. I am a lazy trader and if I attempted a 10 point stop loss it would get taken out very quickly unless you are a very good timer.
Anything below 20 points does not take margin for error into consideration in my opinion but we are all different traders and whatever works for you my friends.......

I'd be really interested to find out how they calculated 25-30 points as an optimum stop ...pls let me know..

I agree with you that 10 points is a tight stop, but yes, timing is crucial, and I only place trades where I'm as certain as possible of the direction. I used to do 25 a lot (and sometime I do in high vol days), but it's pretty quiet at the moment...

 

[KillPhil08]

ig 2 points, vdm 2-3, dd 1, odl 1.

 

[rezadamus]

Is anyyone in here making consistant profit from FTSE100 at all? Because I personally think day trading this is geniunely not healthy.

I've been doing fairly ok- but if/when the vol dies down, then who knows what will happen...I'll take longer term views.

 

[bennie83]

research suggests the optimal/efficient stop loss for the greatest return is

25 -30 points for European indices (although DAX is becoming like the DOW)

40 points for US indices (S&P is an exception as it is more calm so I tend to go with 30)

I will try to find the link for you and you can have a read

Especially in this market, its just too volatile. I am a lazy trader and if I attempted a 10 point stop loss it would get taken out very quickly unless you are a very good timer.
Anything below 20 points does not take margin for error into consideration in my opinion but we are all different traders and whatever works for you my friends.......

That link would be interesting for sure. Personally, I don't like to see my losses go that high (30 points), but its great to hear different ways of trading - I'm still learning

 

[wallstreet1928]

I have short FTSE 4155 ...stop loss 4185!!

target 20 MA 4135

YAWN.........

closed position for 5 points

i will not trade indices until after FED decision

i will trade shares in the interim

 

[Trader1UK]

Afternoon Chaps,,, A lovely day.. Hope we can bag afew points...

 

[rezadamus]

bought ftse at 4157.8 10 point stop....i was waiting for that drop!

 

[rezadamus]

bought ftse at 4157.8 10 point stop....i was waiting for that drop!

closed for 10 points

 

[rezadamus]

bought FTSE at 4154.3 when it hit the 20MA on 10min chart...10 point stop

 

[rezadamus]

bought again at 4151.8 10 point stop again

 

[rezadamus]

bought ukx @ 4149.5

 

[bennie83]

GDP figures worse than expected

 

[rezadamus]

all open positions closed out at 4159
summary-
short ftse @ 4154.3 stopped out at -10 point
short ftse @ 4151.8 stopped out at +7.2 point
short ftse @ 4149.5 stopped out at +9.5 point

Net P&L= +6.7 points (bit annoyed at the one that stopped out)


Daily P&L= 6.7+11.3+1.5+3+10= +31 points

 

[SuddenDeath]

FTSE100 is relentless

 

[rezadamus]

shorted ftse at 4192.3...8 point stop