wallstreet1928
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Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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just to clarify , especially for those interested I have amended my time zones for my data
US markets - 9.30 - 16.00 new york time zone -5
FTSE - 8.00 - 16.30 standard GMT 0
DAX - 9.00 - 17.30 frankfurk time zone +1
one can easily alter this on IG index platform by clicking on options and time zones
I shall only trade within the Indices opening times from now on, trading FTSE/DAX after 16.30 effectively means we are trading the US markets
clocks going forward in 15 minutes so that means
8.00 - 16.30 DAX and FSTE
14.30 - 21.00 US markets
correct me if i am wrong, and i would like some thoughts on this
its just a new strategy that i want to employ and trial out and see the affect it has on my results
I am interested in gaps up and down in order to help create my geometric trend lines
US markets - 9.30 - 16.00 new york time zone -5
FTSE - 8.00 - 16.30 standard GMT 0
DAX - 9.00 - 17.30 frankfurk time zone +1
one can easily alter this on IG index platform by clicking on options and time zones
I shall only trade within the Indices opening times from now on, trading FTSE/DAX after 16.30 effectively means we are trading the US markets
clocks going forward in 15 minutes so that means
8.00 - 16.30 DAX and FSTE
14.30 - 21.00 US markets
correct me if i am wrong, and i would like some thoughts on this
its just a new strategy that i want to employ and trial out and see the affect it has on my results
I am interested in gaps up and down in order to help create my geometric trend lines
wallstreet1928
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S&P weekend analysis
1 month 1 hr chart
well , well , what do we have here?
Black trend line - do we have a possibility of a breakout? hmmmmmmm............
I suspect so ............but lets allow the market to tell us that, before we start to trade what we think!!!
blue horizontal trend line at 816-815 vital for me, if taken out then next level will be 809 and 806 and it could be a violent move even further southwards to 795 and 792
1 month 1 hr chart
well , well , what do we have here?
Black trend line - do we have a possibility of a breakout? hmmmmmmm............
I suspect so ............but lets allow the market to tell us that, before we start to trade what we think!!!
blue horizontal trend line at 816-815 vital for me, if taken out then next level will be 809 and 806 and it could be a violent move even further southwards to 795 and 792
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wallstreet1928
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Coping With Losses: A Major Key to Successful Trading.
Provided By: Norman Hallet
Be warned.
"Part of overall winning is taking losses along the way."
"If you have 55% winning trades, you'll win in the long run."
We've heard it said a million times in a hundred different ways.
In any trading system, we will experience losing trades as well as winning trades. We know this.
So why is it that as we moved forward from trade to trade, we become frozen with doubt when the losing trades appear in bunches?
If you think about it, when winning trades appear in bunches, we get motivated and we look for reasons to find the next trade. We're on a roll and we love it. We're on top of the world.
The words "genius" and "professional trader" seem to fit us perfectly.
Conversely, when losing trades appear in bunches, we become fearful of the next trade and look for reasons to shy away from following our system.
We become filled with doubt and the words "gambler" and "loser" seem to describe us best.
OK, so why?
It's because you are viewing your trading outcomes as reflections of you as a person.
This leads to the destruction of virtually all failing traders.
Negative personal evaluation leads to your being emotionally out of control, which leads to straying from your tested trading system .… and the result…. you're trading by the seat of your pants (which should be pulled down and you spanked!).
You see, you must develop the mindset (and the true understanding) that you are a winning trader whether you are experiencing a run of losing trades or winning trades.
Your self-image of a winning trader allows you to glide through losing streaks so you can be there for the winning streaks.
Most new and "intermediate" traders do NOTHING about their mental trading fitness. They are willing to spend thousands of dollars on "holy grail" systems and out-of-town seminars, but are totally neglecting mental conditioning.
You should be training as hard on your mental fitness as you do on preparing your trading signals.
As a broker/trader/CTA for 21 years, I have probably seen 50+ trading systems that were money makers, IF you had the mental/emotional strength to follow them!
You need to find a system that suits your personality, back-test the system, appropriate the money to trade the system, and then GO FOR IT.
The "go for it" part won't actualize without the mental strength to take the good with the bad.
Provided By: Norman Hallet
Be warned.
"Part of overall winning is taking losses along the way."
"If you have 55% winning trades, you'll win in the long run."
We've heard it said a million times in a hundred different ways.
In any trading system, we will experience losing trades as well as winning trades. We know this.
So why is it that as we moved forward from trade to trade, we become frozen with doubt when the losing trades appear in bunches?
If you think about it, when winning trades appear in bunches, we get motivated and we look for reasons to find the next trade. We're on a roll and we love it. We're on top of the world.
The words "genius" and "professional trader" seem to fit us perfectly.
Conversely, when losing trades appear in bunches, we become fearful of the next trade and look for reasons to shy away from following our system.
We become filled with doubt and the words "gambler" and "loser" seem to describe us best.
OK, so why?
It's because you are viewing your trading outcomes as reflections of you as a person.
This leads to the destruction of virtually all failing traders.
Negative personal evaluation leads to your being emotionally out of control, which leads to straying from your tested trading system .… and the result…. you're trading by the seat of your pants (which should be pulled down and you spanked!).
You see, you must develop the mindset (and the true understanding) that you are a winning trader whether you are experiencing a run of losing trades or winning trades.
Your self-image of a winning trader allows you to glide through losing streaks so you can be there for the winning streaks.
Most new and "intermediate" traders do NOTHING about their mental trading fitness. They are willing to spend thousands of dollars on "holy grail" systems and out-of-town seminars, but are totally neglecting mental conditioning.
You should be training as hard on your mental fitness as you do on preparing your trading signals.
As a broker/trader/CTA for 21 years, I have probably seen 50+ trading systems that were money makers, IF you had the mental/emotional strength to follow them!
You need to find a system that suits your personality, back-test the system, appropriate the money to trade the system, and then GO FOR IT.
The "go for it" part won't actualize without the mental strength to take the good with the bad.
Dentalfloss
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wallstreet.
replying to the post you made after mine.i know you use ig for charting.so i shallexplain myeself
intraday data.for this charting package is
2 days for tick
3 weeks for minute intervals
3 months for hourly intervals
with p/f charts it is mainly the look back period and the box size that dictate whether the chart is going to have few columns or virtually none.5 min gives more data points to plot.the box size will dictate whether you see anything.p/f we are only looking at the price change.so whether it be 5 or 10 min charts.it is the box size that makes them more readable.you need a different mindset/slightly for candle charting
i just thought that the 10 min chart you posted for the ftse was out of context for the many readers of this thread.you have appprox 20,000 hits.this is the most popular thread on this board....well done
replying to the post you made after mine.i know you use ig for charting.so i shallexplain myeself
intraday data.for this charting package is
2 days for tick
3 weeks for minute intervals
3 months for hourly intervals
with p/f charts it is mainly the look back period and the box size that dictate whether the chart is going to have few columns or virtually none.5 min gives more data points to plot.the box size will dictate whether you see anything.p/f we are only looking at the price change.so whether it be 5 or 10 min charts.it is the box size that makes them more readable.you need a different mindset/slightly for candle charting
i just thought that the 10 min chart you posted for the ftse was out of context for the many readers of this thread.you have appprox 20,000 hits.this is the most popular thread on this board....well done
Dentalfloss
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so for day trading i will take the final signals from tick data.box sizes 4 pts/2 reversal for the trend.3 pts/2 reversal for entries./exits
these box sizes can vary according to the range of tha day.you normally get about 10-15 signals a day
swing.i will take th signals from hourly data
as i said.it is a different mindset than for candles
these box sizes can vary according to the range of tha day.you normally get about 10-15 signals a day
swing.i will take th signals from hourly data
as i said.it is a different mindset than for candles
SPY Analysis
Hi Guys,
I agree with you on this WS.
Here's my analysis:
I would be looking for an opportunity to short the SPY possibly at 8130 depending on the candlestick. Reasons are because my support line at 8150/8135 has already been tested 3 times and is now weakened which also coincides with March 25th open and close value 8135. Trend support line also been tested 3 times and is weakened. If there is a break I would be looking to profit at 8060 touching the MA50 on the 60min chart and also touching a key support line from the close of 24th March and being a resistence level Mid trading day of 23th March.
Let's see what happens could go either way but won't know until the day. Hope this is a sound analysis but have been working with what time I have recently. I can trade the US markets after work if there are any opportunites.
Have also been doing some reading up and will only take a max of 3-5 trades a day, if 3 losses in a row stop trading for the day and stay on the sidelines. Also keep to minimum stake until I am consistent.
Vikash
P.S. Anyone watch the daily politics show this morning, there was a spreadbetting millionaire on today.... inspiring.....
Hi Guys,
I agree with you on this WS.
Here's my analysis:
I would be looking for an opportunity to short the SPY possibly at 8130 depending on the candlestick. Reasons are because my support line at 8150/8135 has already been tested 3 times and is now weakened which also coincides with March 25th open and close value 8135. Trend support line also been tested 3 times and is weakened. If there is a break I would be looking to profit at 8060 touching the MA50 on the 60min chart and also touching a key support line from the close of 24th March and being a resistence level Mid trading day of 23th March.
Let's see what happens could go either way but won't know until the day. Hope this is a sound analysis but have been working with what time I have recently. I can trade the US markets after work if there are any opportunites.
Have also been doing some reading up and will only take a max of 3-5 trades a day, if 3 losses in a row stop trading for the day and stay on the sidelines. Also keep to minimum stake until I am consistent.
Vikash
P.S. Anyone watch the daily politics show this morning, there was a spreadbetting millionaire on today.... inspiring.....
wallstreet1928
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Hi Guys,
I agree with you on this WS.
Here's my analysis:
I would be looking for an opportunity to short the SPY possibly at 8130 depending on the candlestick. Reasons are because my support line at 8150/8135 has already been tested 3 times and is now weakened which also coincides with March 25th open and close value 8135. Trend support line also been tested 3 times and is weakened. If there is a break I would be looking to profit at 8060 touching the MA50 on the 60min chart and also touching a key support line from the close of 24th March and being a resistence level Mid trading day of 23th March.
Let's see what happens could go either way but won't know until the day. Hope this is a sound analysis but have been working with what time I have recently. I can trade the US markets after work if there are any opportunites.
Have also been doing some reading up and will only take a max of 3-5 trades a day, if 3 losses in a row stop trading for the day and stay on the sidelines. Also keep to minimum stake until I am consistent.
Vikash
P.S. Anyone watch the daily politics show this morning, there was a spreadbetting millionaire on today.... inspiring.....
good analysis my friend
I have been busy playing cricket this morning and now I am off to play squash
I have updated charts on S&P analysis
and unfortunately i didn't get a chance to watch the politics show
millionaire????!!! - I am happy with the little profit i make but i suppose you do have a point about inspiration
The guy looked like he was in his 70s 80s I think.
I've played squash a few times we didn't know the rules but made them up and played lol. It's a lot of fun I must admit. Anyways I'm going to be off to play 5-a-side now and maybe some Call of Duty on the XBOX!
Hope you're having a fantastic weekend guys.
Vikash
P.S. Check this out some useful stuff on there http://www.trade2win.com/boards/general-trading-chat/29598-useful-things-i-ve-found-net.html
Hi vicks, do you have a link to that show.. couldnt find it on bbc iplayer anywhere?Hi Guys,
I agree with you on this WS.
Here's my analysis:
I would be looking for an opportunity to short the SPY possibly at 8130 depending on the candlestick. Reasons are because my support line at 8150/8135 has already been tested 3 times and is now weakened which also coincides with March 25th open and close value 8135. Trend support line also been tested 3 times and is weakened. If there is a break I would be looking to profit at 8060 touching the MA50 on the 60min chart and also touching a key support line from the close of 24th March and being a resistence level Mid trading day of 23th March.
Let's see what happens could go either way but won't know until the day. Hope this is a sound analysis but have been working with what time I have recently. I can trade the US markets after work if there are any opportunites.
Have also been doing some reading up and will only take a max of 3-5 trades a day, if 3 losses in a row stop trading for the day and stay on the sidelines. Also keep to minimum stake until I am consistent.
Vikash
P.S. Anyone watch the daily politics show this morning, there was a spreadbetting millionaire on today.... inspiring.....
wallstreet1928
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something to mull over here guys
Has Goldman Sachs the market leader for financials broken out of its up trend????????
If it has it will impact the financials across the pond, if USA sneezes we catch pneumonia ?
which means financials going down
Leader of the Telecoms sector, Vodafone is looking weak (i shall post chart of this )
Telecoms sector going down
Do we have a failure of oil breaking above $55
oil could come back to $51.2 in the near term
black line on chart was key for me when trading last week when I was shorting oil
oil down = oil stocks down, which are heavily weighted on FTSE
Rio tinto - mining sector leader in my eyes and its looking top heavy 2500 was the resistance as i pointed out in my chart on friday(when I was long on this stock all the way up to 2500)
overall summation = Bias is on the down side chaps
oil and gas = 21.2%
financials = 19.94 %
telecoms = 7.9 %
If we can work out what 50% of the market is doing, I think we will have a good idea of where the market is headed.
http://www.ftse.com/Indices/UK_Indices/Downloads/FTSE_100_Index_Factsheet.pdf
lets go looking for shorts
If anyone is interested I have opened up a long on Gold due to the reasons given above along with my chart analysis
Has Goldman Sachs the market leader for financials broken out of its up trend????????
If it has it will impact the financials across the pond, if USA sneezes we catch pneumonia ?
which means financials going down
Leader of the Telecoms sector, Vodafone is looking weak (i shall post chart of this )
Telecoms sector going down
Do we have a failure of oil breaking above $55
oil could come back to $51.2 in the near term
black line on chart was key for me when trading last week when I was shorting oil
oil down = oil stocks down, which are heavily weighted on FTSE
Rio tinto - mining sector leader in my eyes and its looking top heavy 2500 was the resistance as i pointed out in my chart on friday(when I was long on this stock all the way up to 2500)
overall summation = Bias is on the down side chaps
oil and gas = 21.2%
financials = 19.94 %
telecoms = 7.9 %
If we can work out what 50% of the market is doing, I think we will have a good idea of where the market is headed.
http://www.ftse.com/Indices/UK_Indices/Downloads/FTSE_100_Index_Factsheet.pdf
lets go looking for shorts
If anyone is interested I have opened up a long on Gold due to the reasons given above along with my chart analysis
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wallstreet1928
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wallstreet1928
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Good morning chaps, I am up early due to the positions I opened last night
Looks like my analysis was correct and I have already hit my daily target
I opened up short on S&P last night (adhering to my trading plan as it broken below 815, please check my weekend analysis) and I went long on GOLD as my analysis showed that the market was gong to fall which means that gold is back in favour(flight to safety)
both trades have paid me great dividends
gold made a total profit of $4
S&P made a total profit of 100 points
its a shame I didn't go short on FTSE as well but i learnt my lesson not to go long/short on 2 indices at the same time on friday
as I type oil has hit $51.2 exactly ......................mystic meg couldn't have predicted better!! heheee!!
i apologise for not posting the live trade of S&P as well but because It was late last night , I just thought it wouldn't be of any help to anyone as all asleep
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wallstreet1928
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I am short FTSE 3832 .......stop loss 3862
Dentalfloss
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big fall in nikkei overnight
wallstreet1928
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"Rio Tinto climbed 4.0%, after Liberum Capital stated that there is a high chance of success for BHP Billiton to bid for Rio, after previous failed attempt."
that was a nice ride up on friday with 1000 contracts
i didn't even realise Dentist, I have just read this now in one of the morning papers !!
just goes to show, chart tells all ...............news comes afterwards!!
Dentalfloss
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nikkei down 4.4%
hang seng 3%
seoul 3.24%
singapore 3.87%
australia only down 1.7%
hang seng 3%
seoul 3.24%
singapore 3.87%
australia only down 1.7%
Dentalfloss
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check out blt.au..quoted on yahoo
this gives an indecation of what miners did overnight in aus
billiton
this gives an indecation of what miners did overnight in aus
billiton
wallstreet1928
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thank you very much for the collapse Asia as i was short ...haha!
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