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

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Splitlink said:
:D

So what is your strategy?

I've been long since the 1230 x 5min bar broke upwards. I'm holding on, at present, but have no idea about pivots and fibs. When I feel that that's enough, I'm out until tomorrow.
Click to expand...

(y)

Nice one Split....another lesson in trend trading
 
Splitlink said:
:D

So what is your strategy?
Click to expand...
As I said above, I don't trade the FTSE directly, but noted there was potentially significant S/R at 4900, which appears to be the case.

Splitlink said:
:I've been long since the 1230 x 5min bar broke upwards. I'm holding on, at present, but have no idea about pivots and fibs. When I feel that that's enough, I'm out until tomorrow.
Click to expand...
Great to have an insight into your 'strategy' Split, but testing around a major S/R - whether you believe in them or not - just for 10-20 points isn't my idea of fun.

Takes all sorts though so I hope your trade works out for you and be fascinated to learn what you considered was 'enough' for this particular trade.
 
TheBramble said:
As I said above, I don't trade the FTSE directly, but noted there was potentially significant S/R at 4900, which appears to be the case.

Great to have an insight into your 'strategy' Split, but testing around a major S/R - whether you believe in them or not - just for 10-20 points isn't my idea of fun.

Takes all sorts though so I hope your trade works out for you and be fascinated to learn what you considered was 'enough' for this particular trade.
Click to expand...

No, maybe not. That's what I do, though, simply because I normally only trade mornings.
Enough, for me, is to get out before the lunch time whipsaws start. There are plenty who trade trend following ideas, I've found out. I am fortunate enough to be instinctive in closing the trade with some success and, to hell with it, tomorrow's another day.
 
latest ftse chart
 

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masnachu said:
How them breakouts working Lap , doing good ?
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Doing ok - todays gbpchf is +60 right now, and eurgbp +37 - only two that fit the criteria today.

Still trying to get the hang of trading reversals and the fib retracements from PN's site that Geo does.

EDIT: Should add, that although +97 sounds good the risk on gbpchf was 60 pips and eurgbp 14 pips, so its only eurgbp thats nearing the 3:1 risk/reward I'm looking for.
 
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Goodluck lap. Btw, folks, tomorrow's ranges are: tomorrow's range - 4903 technically but 4900 due to monster number (Low for Shorts) and 4929 (High for Longs).
 
lapalabra said:
I owe you a chart, don't I? Um, its coming... :whistling
Click to expand...

Yes. Thanks mate. Would like to see your strat, etc. Btw, do you do breakouts? I tried US Breakout today on cable but, it retraced downwards. I got out with like .60p profit or something.
 
london_lad said:
Yes. Thanks mate. Would like to see your strat, etc. Btw, do you do breakouts? I tried US Breakout today on cable but, it retraced downwards. I got out with like .60p profit or something.
Click to expand...

Only overnight range breakouts, after price has consolidated near the previous days close usually at a res level. Personally, I don't trade cable.
 
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