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

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London Lad will be happy now :)

I did send him a pm to check I hadn't offended him. But I am sincerely concerned about his strat - maybe its best not to say, but I would hope people on here would pick me up on potentially dangerous stuff I was doing.
 
masnachu said:
15M , 1.30 held 3076 with the close , hammer attempting to form now ?? see if close holds again (only started looking at the chart right now)


EDIT : I'm not trading this , just watching
Click to expand...

I think watching is best now for me. Will wait till monday now for possible new setups.

The dollar is up, the market is up? Did the rules just change?
 
Geofract said:
London Lad will be happy now :)

I did send him a pm to check I hadn't offended him. But I am sincerely concerned about his strat - maybe its best not to say, but I would hope people on here would pick me up on potentially dangerous stuff I was doing.
Click to expand...

I posted him last night, when he said he had entered at 2115, I think it was. He's only just got his money back but I've closed out with a net +67 on two trades.

Now, he has the weekend to worry about whereas we are out and ready to start on Monday.

I've done this overnght stuff and didn't like it. Everyone to his own style, though.
 
Splitlink said:
I posted him last night, when he said he had entered at 2115, I think it was. He's only just got his money back but I've closed out with a net +67 on two trades.

Now, he has the weekend to worry about whereas we are out and ready to start on Monday.

I've done this overnght stuff and didn't like it. Everyone to his own style, though.
Click to expand...

London Lad is not happy at all. Took a £130 loss, because I entered short on DJI to protect me from the losses, close short when FTSE hits any resistance levels. We all know what happened, I was always sticking to the loss because my short went into the loss when long started to make money.

However, I was on a running 190ish loss on P&L and reduced it to £130 due to currency difference (as short was in dollars).

Oh well. My strategy was right, but again couldnt hold nerves.

Btw, just to explain a bit more about my strategy, I am using the same concept as someone buy Index tracker with full cash. The only difference is I take more position with less money using CFDs. My expenses are funding charges, but they are to some extent offset against interest recieved from savings account (for the money I havent put in CFD account) and also from dividend payments on every Wednesdays.

What do you think about my strategy now? hence no stop losses for longs.
 
Btw, Geofract I wasnt offended. Its my fault, I wasnt able to explain my strategy and most importantly, wasnt able to stick to it.
 
All i can say is that in my trading carreer i have never seen a market run like this in the last few weeks without any sort of a proper pull back to speak off. Truelly amazing.
 
Just moved my stop to BE on my long from yesterday (4701). I think it may go before the close.....
 
ftse resistance ?
 

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  • FTSE 100 Daily (07-AUG-09).png
    FTSE 100 Daily (07-AUG-09).png
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FTSE on dailies on past 3 days candles are huge signals of a top reversal (hammer, shooting star and a lower candle). what do you guys think?
 
Done for the day. Just could not make money. I should have got few points in that huge move upwards.
But my talent was not good enough to make few quids(n). overall down £70
Have a good weekend
 
Geofract said:
I think watching is best now for me. Will wait till monday now for possible new setups.

The dollar is up, the market is up? Did the rules just change?
Click to expand...

Yep, that's what I was drawing your attention to , the PA on M15 as it bounced between H4 (or H3) SR levels. Did you manage to get the williams book after ? if so should have noticed one of his bar setups. Wild ride though :cheesy: ;)

Markets reaction to the Dollar is only ever a tendency, nothing to say it has to behave the way it does most of the time.

although if normal tendencies do continue to act oddly , then can sometimes be a sign of possible trouble brewing somewhere ?
 
wallstreet1928 said:
amended my stop to B/E @ 4736 ........... target 4700
Click to expand...

Hey ws, just got back from a family trip to an "aerial extreme" adventure!

Missed the reversal which would have been nice.

When i left the miners were coming back after the big sell off first thing and the banks had seemed to reach a level they were not falling below and BP was starting to rise.

Going out again shortly for a meal.

Equivalent of 50pnts up from this morning.

How have you got on today? Enjoyed a nice day off?

The dollar seems stronger and oil still below 72$ but markets up!

I will review things on Sunday but will look out for your analysis.

Have a great weekend, and everyone!

All the best guys
:)

Nas100 still below 1630 though!
 
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london_lad said:
Btw, just to explain a bit more about my strategy, I am using the same concept as someone buy Index tracker with full cash. The only difference is I take more position with less money using CFDs. My expenses are funding charges, but they are to some extent offset against interest recieved from savings account (for the money I havent put in CFD account) and also from dividend payments on every Wednesdays.

What do you think about my strategy now? hence no stop losses for longs.
Click to expand...

Is this a proven appraoach do you know? Now that I see you're trying improvise an index tracker with a CFD instrument, then I am really unsure wether or not this is a good idea.

Though I am thinking, if I was in your shoes, how would I feel if the market dropped back down to 3500, or lower. I think I would be feeling pretty uncomfortable if I'd loaded up with longs at every 100 point interval, and had no stops.

Anyway, as Mr.G and I mentioned, have a read of Marc Rivallands book if you want to get away from day trading.
 
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