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

[Geofract]

Try a CFD broker if you want real prices Ivon. SB companies just manipulate the numbers to their own advantage, of which ETX is one.

Maybe try IG Markets, or CMC.

 

[pentlow1]

Please if i may ask, with what company do you trade. plsease kindly advice me with wich company to trade.i have tried ETXcapital but they do not seam to be real, although thier Platform looking good and aesy to track profit but at the end, all you get will be taken back from you due to their fake time stream.

I trade Ftse, DAX and Wall-street. but with little less Capital.

thanks

Ivon

i use City Index ( www.finspreads.com)...have done since I started doing this, so am familiar with it and it seems to work for me. I do have issues with them from time to time particularly recently their charting falls over at times which can be very irritating.

 

[PaulHClark]

I just think this is more about alot of fund managers thought this was going to be a dead cat bounce from March (suckers rally). The longer it has gone on supported by surprises on earnings and slightly better than expected economic news (some of which I don't trust) the more these fund managers have come under pressure to jump in.

This continuing burst is flaky in volume terms - it's just more buyers than sellers and market makers making money.

Remember though that calling tops is a very dangerous game. I got burned last few days and it just ain't worth it - wait for the correction to take hold would be my advice - the longer this goes on the bigger the correction might be.

Longer term I still see a W much like the 1930's. Governments will have to unwind their involvement at some stage and the bond markets will take their pound of flesh for all the profligacy (the Chinese are biding their time IMHO).

The Banks are still in deep doodoo. Toxic assets are not fully known nor cleared. Personal debt still has not fully hit home - watch as unemployment rises further, commercial real estate has yet to really hit the buffers and every bank's balance sheet is stuffed with it either in loans or collateral.

All in all a bumpy ride ahead as I see it.

 

[PaulHClark]

IVON - I have used IG Index for 4 years and they have been fine.

 

[wallstreet1928]

Please if i may ask, with what company do you trade. plsease kindly advice me with wich company to trade.i have tried ETXcapital but they do not seam to be real, although thier Platform looking good and aesy to track profit but at the end, all you get will be taken back from you due to their fake time stream.

I trade Ftse, DAX and Wall-street. but with little less Capital.

thanks

Ivon

Hello Mr Ivan ......

I trade CFD's with CMC Markets for trading

ant more question just PM me

 

[SabreTT]

Remember though that calling tops is a very dangerous game. I got burned last few days and it just ain't worth it - wait for the correction to take hold would be my advice

I agree on waiting. With the double top formation I think its supposed to give confidence after it occurs that the trend will then continue.
So trying to call it early kinda misses the point of it and also raises the risks of failure to a point where it might be no advantage over just flipping a coin 😛

Obviously its tempting to call early because it gives more profit with the risk, the fastest moves come with the confirmation point, same happens around the pivot levels. The gradient is usually very steep, the best price is gone quick

FTSE close today was a good chance to buy on the spy pivot it looked like

supported by surprises on earnings and slightly better than expected economic news (some of which I don't trust)

earnings based on cuts and kickstart economics, It does seem very iffy ground.

Its not a stable market now because we recovering last autumns fall, little resistance or volume trade history exists at these prices.
The gradient was that steep on the way down its like a vacumn effect on the way up apparently. I think Im right in saying we arent now receiving great volume to confirm the rises?


I noticed Shanghai fell today and I know they had some rises but Im not sure if they are still in a bear market trend or not

 

[wallstreet1928]

i am short oil 72. 38 ...stop loss 72.68

target 72

 

[Thaumaturgus]

FTSE quarterly expiring on Friday to boot, good chance of getting shafted on either the long or the short side I would have thought.

I'll be sitting on my hands, or at least on a bar stool, until after the weekend.

 

[wallstreet1928]

used 10 points profit from cable trade to increase stop loss at no extra cost

short FTSE 4093 ..stop loss 5133

stop loss gobbled up

 

[PaulHClark]

The best pros leave the top 20% and the bottom 20% on the table - so it is said - I've yet to meet one though!

 

[PaulHClark]

I imagine breakout traders a la Turtles are having a field day wouldn't you say?

 

[wallstreet1928]

i am short oil 72. 38 ...stop loss 72.68

target 72

amend stop to break even

 

[Dentalfloss]

cable
some rising llows.ie last columns.it should take another pop at 1.6500 soon
dollar looking weak against euro.yen and pound.also aus

 

[masnachu]

A question for Masnachu. Which TF's do you trade, or perhaps more importantly, which higher TF do you use for direction?

Re: TF's Geo , I use pretty much the standard stuff.

use Daily chart (along with weekly) to try and determine what the possible moves are going for the next few bars (anything longer than that I need to see how things are developing as we go along).

Tend to use time and price stuff for this (You've seen my charts before , with the exception of time that's how I set them up) . I don't want to use daily setups because of the size of risk you need to take on.

So once I have an idea of what I'm looking to do for next few days, I'll then watch the 60min for setups (Again I'll use time&price, 60Min is the lowest TF in which I use time on the FTSE, below that its all price (for Forex, daily is the lowest, everything lower is just price)) when I think I see a setup starting to develop, I'll watch the 10M chart to find a entry/trigger into the 60M setup, this allows me to keep control of risk. If things work out I've got myself daily trades (1 day to possibly a couple of weeks) with 10m bar setup risk. If I'm wrong I'll resort to shouting 🙂

Forex is slightly different in that I use H4 for setups with H1 for triggers , although I'll try to refine triggers further by using 15M (prefer not to enter trades on H1 bars, again due to the risk size sometimes)

FTSE : Setups H1 (8.5 bars/day) : Triggers 10M (27/Day)

Forex : Setups H4 (6/day) : Triggers 1H (24/day)

 

[london_lad]

Guys, what do you mean by pivots? I know they are the key levels, where price oscillates during day or def touches during the trading day. How do we chart them for FTSE or FX pairs?

 

[pentlow1]

Its a bit late, but I thought I would let you guys know what I did today. Basically I bought the Dow at 9692, at around 2.55pm, on the basis of what we have seen the last few days i.e a sell off first thing filling the gap from yesterdays close and then once that has happened we are off and running. I looked for the Stochastic turn on the 5min TF from below the 20 point, coinciding with the RSI 5 turning up from oversold area. Also the MACD line was below 0 at -3.4 which reinforces the upswing potential. Behind all that was the idea that this was going to be a bullish day as futures were well above the Pivot which i saw at 9700. i am still running the position, and will trail my SL up about 25 points behind the market. Good luck to everyone.

I've still got this position open, so far up about 120 points. Tempted just to let it ride moving my SL up to about 20points behind the market. asia had a strong day so far and european futures are up. We have Jobless claims from the US at 1.30pm, and a positive number could really send the market up, reinforcing the positive sentiment. I cant see anything that is really going to derail this rally at the moment...famous last words. good luck today.

 

[lapalabra]

I've still got this position open, so far up about 120 points. Tempted just to let it ride moving my SL up to about 20points behind the market. asia had a strong day so far and european futures are up. We have Jobless claims from the US at 1.30pm, and a positive number could really send the market up, reinforcing the positive sentiment. I cant see anything that is really going to derail this rally at the moment...famous last words. good luck today.

Absolutely let it ride - but I would place your stop beneath a previous swing low somewhere that would indicate, should that low be broken, that a reversal (on whatever timeframe you are trading on) could be under way - better using price action to let the market take you out than arbitrary stop maybe, while setting a limit on whatever amount as a % of profit made so far you are willing to put at risk to pay for possible further upside.

And well done mate, very nice trade!

 

[Dentalfloss]

dollar weak overnight
cable popped 1.6500
all asian markets up

 

[wallstreet1928]

Hi WS

I have 5160 -5166 as the next target.
Not that I am very successful at callingthe top lately! 😆

Good morning chaps

Well don Mr Masnachu for forecasting the next high....now do we carry on galloping northwards or do we fail here!!

I will still try to find this top, as long as you hedge yourself its perfectly fine, it worked out very economical yesterday

well done pentlow1

 

[pentlow1]

Absolutely let it ride - but I would place your stop beneath a previous swing low somewhere that would indicate, should that low be broken, that a reversal (on whatever timeframe you are trading on) could be under way - better using price action to let the market take you out than arbitrary stop maybe, while setting a limit on whatever amount as a % of profit made so far you are willing to put at risk to pay for possible further upside.

And well done mate, very nice trade!

Thanks for the advice. Looking at the chart I see 9780 as a support level, so i will move my stop there. These trade dont come along often, so i want to take full advantage of it. I am out most of today, so i will just have to keep my fingers crossed. Not very technical i know.