Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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closed for 18 points profit
SuperDriveGuy
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Hi Si55AMG,
I am new to trading. Any insights into how you made the decision to enter and also to exit(2 short of your minumum target), will be much appreciated.
Thanks
I am new to trading. Any insights into how you made the decision to enter and also to exit(2 short of your minumum target), will be much appreciated.
Thanks
Hi,
An easy question but tough to answer. However ill try and give it a go, but remember everyone trades in a different manner and enter/exit according to their own analysis. Its tough following someone elses calls as you have to watch price and try and enter at what you feel comfortable at.
Basically, i watch higher timeframes and pinpoint my entry on lower timeframes, e.g 5min, 10 min, 15min. I use Moving averages, Support/resistence, trendlines and afew other indicators that i dont really look at. Even them i enter in the wrog direction, market is very powerful and nothing 100%.
Practice will make you better as you know what to look for.
Ill let WS add and answer this one if he can as he knows best.
Yes i was 2 short of my target of 15, didnt feel comfortable holding as it would possibly have retraced and eaten my profits for the trade. ... looking at the FTSE chart it did retrace and i exited at the bottom of the last retrace.
Hope that helps
I
SuperDriveGuy
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Thanks Si55AMG!
I currently have a system using RSI(7) or RSI(14), but its difficult to keep emotions out of the picture and sometimes over commit to a position.
I am just trying to get an insight from other traders of their thought process.
Regards
I currently have a system using RSI(7) or RSI(14), but its difficult to keep emotions out of the picture and sometimes over commit to a position.
I am just trying to get an insight from other traders of their thought process.
Regards
Good to test and evaluate your system all the time, and when a trade goes against you , you can go back and work out what went wrong.
Emotions are the biggest hurdle in trading, it can affect you alot and there is no simple way of routing it out. After enough practice and live trades, you can control emotions but a very difficult task. only come with practice and strong discipline.
Set your targets and stops and let 1 hit, if yor having more losers then you need to evaluate your system again and see why its not working, again a difficult task.
Im also a kinda rookie and still learning as im going along, nest not to rush ans find something that suits you. Trying to explain my thought process is difficult in afew lines but reading here and others analysis will give you and insight into the thought process.
SuperDriveGuy
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Thanks again Si55AMG!
Every bit of advice helps.
Regards,
Suleman
Every bit of advice helps.
Regards,
Suleman
No problems,
jimmynoodles
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Anyone else gonna short the DJ if it hits 7400?
artful_dodger
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Do you think it might be wise to short the FTSE at the present 3890 level?
poisonivy0
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is there any more points to squeeze?
looks unpredictable to me, banking sector is still rising but dow is fallin :-s
looks unpredictable to me, banking sector is still rising but dow is fallin :-s
very choppy, thats why im in n out for quick scalps, but gota be very careful
a nice trade
artful_dodger
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Could be ok....very tricky with gold at the moment. Silver is down quite substantially.
I shorted the FTSE at 3890 for 10pips
wallstreet1928
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Bloodhound
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Quick follow up on yesterday's chart....
Rob
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