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

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

Hello guys,

After receiving several emails and private messages I have decided to create a separate thread for all those interested in my analysis and live calls that I make for my own trades.

I have been thinking about it for a few days now but I didn't want to sound arrogant and proud by creating my own thread. I have thought long and hard and decided after the hate messages I received and after speaking to a few people it was the best idea.

I have decided on this for a number of reasons.

1. I felt that I was over congesting and taking over the previous thread and I may have upset a few people hence the reason why I think I received some nasty private messages.

2. I have been asked by several people for help and I think it is pertinent for me to set up a different thread to help them.

3. This will help the previous thread flow better without any Newbies asking questions in between posts, well I certainly hope so.

4. Everybody will be more than welcome on my thread without any patronising answers or replies. I feel that no one is endowed with knowledge, we all have to go through the tedious process of acquiring it.

5. My own thread will act as a journal for my trades, just so that I can go back and monitor to see what I did wrong and prevent it happening again.

I have sincerely enjoyed being on this thread and will try to keep in touch with people and post now and again.

thank you for your understanding

The view published here is my own, based on my own technical analysis. It is not intended as investment advice; what you do with it is entirely your choice.

Everybody is welcome on my thread and i will be happy to greet everyone

So lets start to post some charts and analysis for Monday now guys .......

and

I just need to stress this again my friends,

The view published here is my own, based on my own technical analysis. It is not intended as investment advice; what you do with it is entirely your choice.


you trade at your won risk

and always, always do your own analysis

because, that's the only way you are going to learn

Okay just getting ready to watch

New Zealand V India ODI international cricket match, sky sports 01.00am....

I love cricket........

busy doing analysis in the meantime

Hi Aadil,
Great idea and I look forward to watching this thread develop. Anyone sending you hatemail is missing the point IMO. Just to start the thread off here are some views I have. As you know we trade on different tf's but I am currently long FTSE from 3510 and looking to go long S&P @ 701. My targets are 3660 FTSE and 725 S&P intially but am looking at a possible 3900+ FTSE before we see the final Wave 5 to 3290. I am still a bear but wearing a bull's horns for a few days!! Analysis is a mix of MP, my amateur's understanding of Elliott Wave and Price Action, S/R etc, and Sir William's teaching...
Happy trading
Rob

Hey WS
Nice to see you creating your own thread but didn't see what was wrong in posting in the FTSE traders thread, however, you've made the call on that and it's prob best.

Anyways been out of the forums for two days for personal reasons. I'm back now and posting again.

I've sort of changed my approach to trading the FTSE going to be more patient and sitting on the sidelines more often trading major support and resistence lines, as well as, learning and using trend lines on the way.

I've set an order for the break of a resistence (3600) and break of support (3470) using the Iii data.
I would be long to the next resistence or short for a 20point profit just to see if my technical analysis is somewhat correct.

I've set stop loss at a 20 point distance from my entry.

Wish I had the time to watch the markets during the day so I could trade intra-day but can't as I'm at work counting everyone elses cash.

Viks

Hey Rob,

Who you doing this weekend? How your trading this week go?
Using a smaller time frame on the basis of support and resistence lines from 1hr to 5min charts I'm looking to enter a long position at 3610 profit at 3650 20point stop loss or short 3460 profit at 3440 stop loss 20 points again. This is mainly to see whether my analysis is correct.

Hope we get a break either way!

P.S. Forgive my ignornace but who's Sir William?

Viks

kitejedi said:

Hi Aadil,
Great idea and I look forward to watching this thread develop. Anyone sending you hatemail is missing the point IMO. Just to start the thread off here are some views I have. As you know we trade on different tf's but I am currently long FTSE from 3510 and looking to go long S&P @ 701. My targets are 3660 FTSE and 725 S&P intially but am looking at a possible 3900+ FTSE before we see the final Wave 5 to 3290. I am still a bear but wearing a bull's horns for a few days!! Analysis is a mix of MP, my amateur's understanding of Elliott Wave and Price Action, S/R etc, and Sir William's teaching...
Happy trading
Rob

View attachment 50732

View attachment 50734

Click to expand...

I am glad you have posted on here, i was going to ring you on the morrow.

I was talking to Sir William last night just after the market closed and we were witnessing a massive reversal on all indices......I asked him how you were because I didn't see any of your posts, he told me you were doing well and experimenting on longer time frames.

I intend to do longer time frames too eventually as scalping can be quiet mentally draining and hard work although very rewarding. I work from home and it allows me to day trade ..........

Glad to hear from you my friend and thank you for the encouragement

Oh and by the way I have been invited to Sir Williams next course and I hopefully intend on doing some teaching/learning hopefully, just need to get some material together and see if it will really help the Newbies. I can't give them my trading programme as it depends on the programmer to get good results and i for one will testify I am a crazy trader, just look at my trades on friday and they will testify!! haha.....

vchohan said:

Hey Rob,

Who you doing this weekend? How your trading this week go?
Using a smaller time frame on the basis of support and resistence lines from 1hr to 5min charts I'm looking to enter a long position at 3610 profit at 3650 20point stop loss or short 3460 profit at 3440 stop loss 20 points again. This is mainly to see whether my analysis is correct.

Hope we get a break either way!

P.S. Forgive my ignornace but who's Sir William?

Viks

Click to expand...

Hi Viks,
It's been a good week after a very bad start!! As I see it we are in for a choppy week ahead. Trend is still down but I think we'll see a correction. As I think I said to you before I only trade 1H and above so I'm not too clued up on the lower TF's. The key for me is the fib level the Dow has reached, coupled with the double bottom on the Dax from 2003 - add an (albeit) weak pin bar on the S&P and it's all looking quite bullish (short term) to me. Friday taught me quite a few lessons about psychology seeing a 85 tick profit turn into a 40 tick loss and then back into a 50 tick profit. To find out more about William have a look at Trading for Wealth - W. Robinson.
Bye for now
Rob

vchohan said:

Hey WS
Nice to see you creating your own thread but didn't see what was wrong in posting in the FTSE traders thread, however, you've made the call on that and it's prob best.

Anyways been out of the forums for two days for personal reasons. I'm back now and posting again.

I've sort of changed my approach to trading the FTSE going to be more patient and sitting on the sidelines more often trading major support and resistence lines, as well as, learning and using trend lines on the way.

I've set an order for the break of a resistence (3600) and break of support (3470) using the Iii data.
I would be long to the next resistence or short for a 20point profit just to see if my technical analysis is somewhat correct.

I've set stop loss at a 20 point distance from my entry.

Wish I had the time to watch the markets during the day so I could trade intra-day but can't as I'm at work counting everyone elses cash.

Viks

Click to expand...

yes you are right my friend and I do feel bad for creating my own thread but i just hope its for the best ad people don't get upset and think I am proud and arrogant.

vchohan said:

Hey WS
Nice to see you creating your own thread but didn't see what was wrong in posting in the FTSE traders thread, however, you've made the call on that and it's prob best.

Anyways been out of the forums for two days for personal reasons. I'm back now and posting again.

I've sort of changed my approach to trading the FTSE going to be more patient and sitting on the sidelines more often trading major support and resistence lines, as well as, learning and using trend lines on the way.

I've set an order for the break of a resistence (3600) and break of support (3470) using the Iii data.
I would be long to the next resistence or short for a 20point profit just to see if my technical analysis is somewhat correct.

I've set stop loss at a 20 point distance from my entry.

Wish I had the time to watch the markets during the day so I could trade intra-day but can't as I'm at work counting everyone elses cash.

Viks

Click to expand...

If you chaps are trading longer time frames and therefore expect a greater returns, would you not agree and increase your stop loss from 20 to say 50.

greater the return = greater the risk ...........does it not? hence 50 stop loss!!

you are going for 100-200 point on 20 point stop loss?

kitejedi said:

Hi Viks,
It's been a good week after a very bad start!! As I see it we are in for a choppy week ahead. Trend is still down but I think we'll see a correction. As I think I said to you before I only trade 1H and above so I'm not too clued up on the lower TF's. The key for me is the fib level the Dow has reached, coupled with the double bottom on the Dax from 2003 - add an (albeit) weak pin bar on the S&P and it's all looking quite bullish (short term) to me. Friday taught me quite a few lessons about psychology seeing a 85 tick profit turn into a 40 tick loss and then back into a 50 tick profit. To find out more about William have a look at Trading for Wealth - W. Robinson.
Bye for now
Rob

Click to expand...

I agree with your analysis..............we had a bit of short covering at the close friday evening!!

you are not the only one who had it hard on friday, FTSE was so hard to read and so volatile on Friday....

Sir Williams said it was the bots, computer programmes being triggered!!

wallstreet1928 said:

I am glad you have posted on here, i was going to ring you on the morrow.

I was talking to Sir William last night just after the market closed and we were witnessing a massive reversal on all indices......I asked him how you were because I didn't see any of your posts, he told me you were doing well and experimenting on longer time frames.

I intend to do longer time frames too eventually as scalping can be quiet mentally draining and hard work although very rewarding. I work from home and it allows me to day trade ..........

Glad to hear from you my friend and thank you for the encouragement

Oh and by the way I have been invited to Sir Williams next course and I hopefully intend on doing some teaching/learning hopefully, just need to get some material together and see if it will really help the Newbies. I can't give them my trading programme as it depends on the programmer to get good results and i for one will testify I am a crazy trader, just look at my trades on friday and they will testify!! haha.....

Click to expand...

Yes - I'm afraid I have moved to pastures new in terms of TF's!! I'm sure you had a moment where you found your comfort zone in terms of trading style and, I think, I have finally found mine. Friday gave me a fright watching the FTSE bounce straight off my first target but I traded in on 1H so could only watch and wait. For anyone newer than me to this game - PLAN YOUR TRADE AND TRADE YOUR PLAN. The US bounce before the close has certainly made for a happier weekend!!! Hope the charts I have just posted will give some idea of how I'm thinking at the moment.
Bye for now
Rob

wallstreet1928 said:

If you chaps are trading longer time frames and therefore expect a greater returns, would you not agree and increase your stop loss from 20 to say 50.

greater the return = greater the risk ...........does it not? hence 50 stop loss!!

you are going for 100-200 point on 20 point stop loss?

Click to expand...

I completely agree with you here. This is all about risk reward. It is absolutely fine to have a 40 point stop on the FTSE if you have an 80 point target. What is dangerous is to have a 40 point stop on a 20 point target. Even the best set-ups seem to return a 70-80% success rate - do the maths. If your R/R is 0.5:1 you only need one losing streak of a few trades to be in the poorhouse. IMO never take a trade which will return less than a 1:1 unless you are a very good.

wallstreet1928 said:

I agree with your analysis..............we had a bit of short covering at the close friday evening!!

you are not the only one who had it hard on friday, FTSE was so hard to read and so volatile on Friday....

Sir Williams said it was the bots, computer programmes being triggered!!

Click to expand...

I had a sneak look at lower TF's on Friday and it scared me!! I'm not one for making calls but at present I am long to 3900 and short on the way back down. We may not get there and 3660 could be the reversal point but that's my view for the moment. It may change by Monday morning when I wake up to the FTSE opening at 3460 ;-)

OKAY................here we go, analysis for the following week starting 9th March 2009 !!


Analysis on 3 month, 4 hr chart, to get the bigger picture

I believe we may break out of the following trend line and trade sideways like we have been doing in the previous 2 months, from Jan 26th to Feb 19th. I then believe we will go downwards from there as to what Sir William and others predict according to the Elliot Wave Theory to 3000.........

Now if we use the previous break out on my chart below , low 4000 on 26th Feb to double top high of 4330 on 28th Jan & 9th Feb.......that's a total of 330 points and that may be the case again.

Now I believe in order for the break out to be confirmed we will need to take out 20 MA, which coincides with downward sloping trend line on my chart around to 3580.......

so assuming for simplicity sake we use 3500 as the break out we could see 3850 or if we use 3580 as the break out we could see 3900 -3950 as the high using the previous break out of maximum 330 points!!

I hope everybody is still with me here.........

I will post the other time frames tomorrow or should I say today...haha!!

vchohan said:

Hey Rob,

Who you doing this weekend? How your trading this week go?
Using a smaller time frame on the basis of support and resistence lines from 1hr to 5min charts I'm looking to enter a long position at 3610 profit at 3650 20point stop loss or short 3460 profit at 3440 stop loss 20 points again. This is mainly to see whether my analysis is correct.

Hope we get a break either way!

P.S. Forgive my ignornace but who's Sir William?

Viks

Click to expand...

P.S When you said 'who' you doing this weekend I assume you mean 'how' you doing this weekend. I am more than happy to share my views on the market but there is a limit to what I will disclose!! ;-)

Just to clarify again guys

I will be posting 3month 4hr analysis every weekend

and i will post 1 week 1hr and 1 week 10 mins time frame analysis on daily basis

wallstreet1928 said:

OKAY................here we go, analysis for the following week starting 9th March 2009 !!


Analysis on 3 month, 4 hr chart, to get the bigger picture

I believe we may break out of the following trend line and trade sideways like we have been doing in the previous 2 months, from Jan 26th to Feb 19th. I then believe we will go downwards from there as to what Sir William and others predict according to the Elliot Wave Theory to 3000.........

Now if we use the previous break out on my chart below , low 4000 on 26th Feb to double top high of 4330 on 28th Jan & 9th Feb.......that's a total of 330 points and that may be the case again.

Now I believe in order for the break out to be confirmed we will need to take out 20 MA, which coincides with downward sloping trend line on my chart around to 3580.......

so assuming for simplicity sake we use 35000 as the break out we could see 3850 or if we use 3580 as the break out we could see 3900 -3950 as the high using the previous break out of maximum 330 points!!

I hope everybody is still with me here.........

Click to expand...

3956 is the big number. Elliott will prevent us from retracing above this. I think it's a case of buy now but def sell of we break 3900 and prive starts to fall again. As I think I said before my first target is 3660. Assuming we hit that I'm 150 points up - then the Greed / Fear thing will start for me I'm afraid.....

kitejedi said:

3956 is the big number. Elliott will prevent us from retracing above this. I think it's a case of buy now but def sell of we break 3900 and prive starts to fall again. As I think I said before my first target is 3660. Assuming we hit that I'm 150 points up - then the Greed / Fear thing will start for me I'm afraid.....

Click to expand...

If you don't mind me asking Rob, where and when did you learn Elliot Wave theory?

which book or books should I buy in order to learn it or any good websites?

thank you my friend

wallstreet1928 said:

If you don't mind me asking Rob, where and when did you learn Elliot Wave theory?

which book or books should I buy in order to learn it or any good websites?

thank you my friend

Click to expand...

In a nutshell all my Elliott Wave learning to date has been via William. The book I keep on meaning to to get is the one by Frost and Prechter which I am told is the book to read.