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

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wallstreet1928 said:
be careful with shorts now

spike in UUP due to housing stats

no more sell off ..........

now reversal city to the upside ..

I am now long euro, oil, ftse, and nasdaq
Click to expand...

closed oil for + 70 another 3 contracts, closed eur/usd for + 30 points

FTSE and nasdaq still open
 
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I am trying to extracate(if thats a word) myself out of a short position in FTSE - but its proving difficult.
Thinking of dumping it
 
bagesh said:
Hi WS,

Thanks for yr analysis.
Whats the next support/resistance levels for ftse?
Click to expand...

I just need to warn everyone

todays action............expecially this week has been nothing short of absolute mystery/craziness/indecisiveness/stupidity/crazy volatility.......

All i can say is that the market makers have had an amazing day, the amount of stops they must have knocked out is beyond comprehension. the market is at a critical juncture, the bears and bulls are fighting to see who survives.

After todays action I need to retire .............

now this market is due a big reversal , can we do it before the close today?

i am still long ftse and nasdaq

this market is not good for new traders ............even the FTSE which use to be a very stable and obedient Index has become so volatile, it must be a swing traders nightmare.

100 point stop is not even considered to be safe any more
 
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Chelski said:
Top man,
Been busy on Currency this morning / today. Will tot up but looking like +70 on the day.
Need to hold some of these currencies longer but when you get 20+ in 10-20 mins and you have seen them reverse as quick hard not to take the money and run!
Click to expand...

Chelski i have taken profit on USD/JPY, no more buying dips .................upside is over and now it should fall
 
usdjpy...
an opinion,in p/f terms
in a downtrend.downtrend line,no breach as yet.but getting near
low pole / black line.ie long column downwards.got taken out.a sign of strength
last signal is a double-top breakout... arrowed line.another sign of strength
daily data.3 box reversal..close price
0.18 box size
whilst,i think there could be aretrace after this double -top break,we watch to see ,how long the retrace column is,before it turns and goes back upwards,t will look bad for stocks when there is a consecutive breakout colmn,which will be at or very close to the downtrend line.also ,then we can take avertical count and get a target



124zpmx.png
 
It does seem that there are knowledgeable traders posting here, but to be honest I see very little to confirm that it is "aimed to help New traders "
It is impossible for me to follow what people are posting. Often they just post numbers and we are supposed to know what they are referring to.
Just a load of people shouting out the trades that they have just entered, with very few offering analysis or reasoning for that trade really doesn't help me.
Maybe when I'm a better trader I can come back to this thread, but for now I will be leaving it.

Good luck guys :)
 
GumRai said:
It does seem that there are knowledgeable traders posting here, but to be honest I see very little to confirm that it is "aimed to help New traders "
It is impossible for me to follow what people are posting. Often they just post numbers and we are supposed to know what they are referring to.
Just a load of people shouting out the trades that they have just entered, with very few offering analysis or reasoning for that trade really doesn't help me.
Maybe when I'm a better trader I can come back to this thread, but for now I will be leaving it.

Good luck guys :)
Click to expand...

Hi GumRai

I dont think you can have followed this thread for very long to come to your view / conclusion.
I have ,mainly from the sidelines, but have seen much evidence of the various members / contributors helping people to learn & understand their orders,charts & ideas etc.

I would suggest that you give it a little time, post a question or two and you will be pleasantly suprised.

Whatever you decide to do - good luck in your quest.

Matt
 
hey gummy
some agreement there.however,as t the previous post said that any newbies should post a question
also wallstreet is mentoring on a one to one basis and am sure he will answer any questions by email and im
this thread is excellent.i have made ALOT of extra money from it that i would not have earnt by not reading it.
so for newbies.keep reading and ask the questions
better still do the mentoring with wallstreet
 
Hello Matrader and Dentist.
I am increasing my knowledge of trading Forex, but taking it slowly and surely. I have a lot of experience with equities and indices, but only looked at forex for the first time about 6 months ago.
I have tried to follow this thread, but by the time I've pondered over one post, there have been another 10 or so. It gets pretty frantic :)
I used to trade a mixture of fundamental and technical, but now have abandoned fundamentals altogether. When trading equities via CFDs it's normal for me to have a trade open for anything between 3 days and a month. I'm just not used to the pace on this thread.
I will continue to draw my S/R lines on my charts and looking for trade set-ups and I hope that one day I will get better and quicker at spotting opportunities.
I'm sure that I will be back and hopefully be able to contribute something.
 
GumRai said:
Hello Matrader and Dentist.
I am increasing my knowledge of trading Forex, but taking it slowly and surely. I have a lot of experience with equities and indices, but only looked at forex for the first time about 6 months ago.
I have tried to follow this thread, but by the time I've pondered over one post, there have been another 10 or so. It gets pretty frantic :)
I used to trade a mixture of fundamental and technical, but now have abandoned fundamentals altogether. When trading equities via CFDs it's normal for me to have a trade open for anything between 3 days and a month. I'm just not used to the pace on this thread.
I will continue to draw my S/R lines on my charts and looking for trade set-ups and I hope that one day I will get better and quicker at spotting opportunities.
I'm sure that I will be back and hopefully be able to contribute something.
Click to expand...


Sorry to hear you feel that way Gumrai ....Yes, you do have a valid point with regards to this thread getting frantic as there were over 4000 hits on Friday alone.

I will resort back to my weekend analysis and post charts on a daily basis more often on Benzinga. Benzinga is a good idea as my posts will not get lost and it will be easy to access them ........
http://www.benzinga.com/users/wallstreet1928

I try my best to dedicate time on the thread and give people the heads up on any major move in the markets. It is too hard for me to give the reasons in real time,otherwise I will be sat on this forum all day long and i will not be able to do my day job or trade for my self.

That is why I decided to offer my help on a 1-2-1 basis. It is only a small fee(£150), I offer 3-4 hours a week for 4 weeks. It works out to less than minimum wage as we always end up talking for much longer but I am not doing this to make money. I enjoy the conversation we have and always look forward to speak to new traders.

I only did the 1-2-1 course because Newbies were getting robbed in broad daylight as some of these courses on the market are around £1000-£4000 for one day or a couple of hours.

I also post a daily article on Benzinga with all the support and resistance levels for people to watch on the FSTE.

You mention that you are good/proficient at trading indices and stocks, so you should be able to correspond with the entry/exit/stop loss levels that are posted. I can understand if you were an absolute Newbie, and after speaking to a lot of Newbies that is what they want so that they can work backwards and identify why i have bought at that level and why my target and stop loss is at a certain level...etc, etc....!!

I am currently in talks with www.Inthemoneystocks.com to do a UK version and organise educational material. The cost of the course may be a little bit more expensive probably around £200- £250 but I can assure you it will come with much more material and will be much better value for money.

I might organise a chat room where we can all trade together as I intend to leave my day job or got part time soon in order to concentrate on this project and take trading more seriously ...........the problem is my day job is too too easy and isn't really being a hindrance to my trading.
 
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Where next for cable?

Daily shows 16670 Level was powerful resistance, not sice the August highs have we breached it. A test to the lower levels perhaps?
Fridays candle was also an outside bar.
 

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Euro$
3 Days to break 15050 level. Key level to watch. if we break lower 50% fib level is close to previous resistance / support area.
I think this may need to play out longer but keep an eye on this level.
 

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