Geofract
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Closed for +20.8 - not sure it's going break down just yet.
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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Closed for +20.8 - not sure it's going break down just yet.
seems very light support if at all but i wish you luck , how many points do you target per ftse trade ?
london_lad
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5 or 10. Am a newbie anyway.
i am a newbie also , but having a good week ftse seems stuck in a range for a while so enjoying taking advantage ... makes up for all battered long positions in aim shares i have
wallstreet1928
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I am long oil 63.78 .......stop loss 63.5
wallstreet1928
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stop loss taken out by the time I finished writing this message........haha
wallstreet1928
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Sujith has forecast dollar to rise ............
Geofract
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£Y broke down - that would have been an easy +60 so far - That's 5 trades in a row where I failed to let them run! Of those 5, I worked out I could have made 344 pips, if I captured 80% of the moves. I've made 159.0.
Even when I'm right, I start thinking I'm wrong! Tough game this 🙄
london_lad
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Long at 4562 with 3999 as stop loss. My first attempt to position trading. View is that I will keep increasing my limit by a pip, which will be taken from my account as funding charges on a daily basis.
Target of at least 100 points within a week or two.
Target of at least 100 points within a week or two.
just catching up now , £Y been good today.
kaisen
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Currency trading info
I am looking to try trading currencies.
Could you give me some input on stop loss size and also given the moves which can occur do you have greater slippage on currencies than shares etc?
Any other pointers welcome!
Thanks in advance
🙂
The first entry i was looking at was shorting GBP/$. Was going to get in at 164.12. Would have got a nice 34pnts at the mo!
I am looking to try trading currencies.
Could you give me some input on stop loss size and also given the moves which can occur do you have greater slippage on currencies than shares etc?
Any other pointers welcome!
Thanks in advance
🙂
The first entry i was looking at was shorting GBP/$. Was going to get in at 164.12. Would have got a nice 34pnts at the mo!
SuddenDeath
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FTSE appears bullish for Thursday 30th , buy weakness.
london_lad
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SD: what you think about my strategy:
Long at 4562 with 3999 as stop loss. My first attempt to position trading. View is that I will keep increasing my limit by a pip, which will be taken from my account as funding charges on a daily basis.
Target of at least 100 points within a week or two.
Long at 4562 with 3999 as stop loss. My first attempt to position trading. View is that I will keep increasing my limit by a pip, which will be taken from my account as funding charges on a daily basis.
Target of at least 100 points within a week or two.
london_lad
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btw u up on skype now?
Geofract
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Hi kaisen,
first off , I'm only a beginner when it comes to currency markets, I've only traded £Y so far.
Re: the stop loss size , I can't answer that kaisen (trading style? , TF for that particular trade? etc) , obviously you've got a wide spread @ ~10pips (yea , I know they advertise spreads from as low as 3pips, just you try getting it , you do see spreads quoted that are that narrow , erm except when you step into the market, funny that)
Slippage , never traded a share in my life kaisen , real or spread betted , so no idea what they're like compared to currencies.
with regards slippage and resting orders, I don't enter trades with resting orders, I trade at the market (and it's been fine so far). Same for stops, I cut the trade manually at my 'mental' stop , which is at a point where I consider the 'trade idea' fubared should the market reach there, it's usually before the minimum stop distance set by IG (where my initial stop is placed when I enter the trades)
The only time trades have been stopped out with resting orders , is when I've used Guaranteed stops , either because I know I'll need to go to bed or go out, slippage isn't an issue with those.
GBP/$ , not a market I've done anything with at the moment, looks ok from what I've seen of it though.
dr.blix
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not caught any big moves yet, because i jump out when i get to 10 pts, that's just £1 pp, but so far my p&l and good call/bad call are in a positive ratio.
all i want is 20 pts per day at £1 pp (for now) and with the E$ it just seems possible.
just seems far less snidey than the FTSE. respects channels and levels and you don't get that vibe where stops are being hunted all the time around key levels.
lovin' it so far. thanks for posting that bias info last night btw, makes sense now 🙂
Geofract
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Sorry, meant to answer this morning.
Don't think of this in Elliot terms, though I suspect you've figured that out now. This is just a way to safely confirm when the trend changes.
Sometimes you will see instances where you could sell the break of point 4. Also, and perhaps more often, you will see a break of point 4, a drop, and then a retrace. I prefer to sell the retrace/pullback at fib levels, between point 1, and the new low.
I'll post some charts at the weekend to explain the above idea a little better.
Nice drop from 14195 on E$ today hey DB? 🙂 You were bang on there.
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