barjon
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afternoon all,
fluke - i've got gsk "indeterminate" at the moment. i suppose it's no surprise since it's sitting near some pretty strong longer term resistance. in the shorter term the bottom of the range may prove a tester.
marben - i'm still running counter to you in bsy so one of us will be happy
good trading all
jon
fluke - i've got gsk "indeterminate" at the moment. i suppose it's no surprise since it's sitting near some pretty strong longer term resistance. in the shorter term the bottom of the range may prove a tester.
marben - i'm still running counter to you in bsy so one of us will be happy
good trading all
jon
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Hi barjon.
I have closed gsk now and have made a small profit,am just trying shorting on rolling contracts and have just discovered that the closing price is based on to days open.EG I opened my short at 1348.6 with £1.00 a point and closed at 1346.4 and expected a profit of £2 20 but was pleasantly surprise to get £6 50 because I can only think it opened at £13.52 to day.Some thing else I have learned to day.Who said you can't teach an old dog new tricks.Or do you think the sb have made a mistake?.
I have closed gsk now and have made a small profit,am just trying shorting on rolling contracts and have just discovered that the closing price is based on to days open.EG I opened my short at 1348.6 with £1.00 a point and closed at 1346.4 and expected a profit of £2 20 but was pleasantly surprise to get £6 50 because I can only think it opened at £13.52 to day.Some thing else I have learned to day.Who said you can't teach an old dog new tricks.Or do you think the sb have made a mistake?.
barjon
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Fluke said:
fluke
I suspect the £6.50 relates to today's trade (rolling is treated as a separate trade each day, I think) which offsets yesterday's loss. What does your account history show - should be showing a loss for yesterday and a profit today with a net increase to your balance of £2.20.
good trading
jon
Fluke said:
thanks, yeah its fun trading full time. i guess its better than any kind of hard drugs but its as addictive. :cheesy: i am still trying to improve and learn. thats why i started this thread to share ideas, and from this so far i have come across many good traders. and u have shown a few good trades too and its only ur hobby, respect.
Fluke said:
Almost! I look for trades where weekly MACD has recently changed direction and use daily stochastic or "Elder Force Index" to determine whether a trade is ready to enter (in principle). Finally, I'm looking at Level 2 data to decide exactly when to enter and exit.
This is originally based on the "Triple screen trading system" described by Alex Elder in his book "Trading for a Living" which I've adapted according to my experience over the last year. It seems to work for me!
Rgds,
Mark
barjon said:afternoon all,
fluke - i've got gsk "indeterminate" at the moment. i suppose it's no surprise since it's sitting near some pretty strong longer term resistance. in the shorter term the bottom of the range may prove a tester.
marben - i'm still running counter to you in bsy so one of us will be happy
good trading all
jon
Barjon,Yup! I reckon it will kick-up shortly (I hope before it hits my stop). There've been a run of "bad news" items lately which have depressed the price: departure of Sky Sports MD, risk to Premier League rights from Setanta/NTL. I'm hoping/expecting that price will recover in the run up to interim announcement.
From the chart POV, BSY seems to be approaching a daily stochastic bottom. It might, however, go down as far the bottom of it's Bollinger band (around 515) before recovering. Fortunately, my stop is somewhat below that level, so with a bit of luck we'll both be happy! You may well get out of your short with a good profit and the price may then recover so I make mine. Sometimes I'm too optimistic for my own good
BTW for Fluke's info I don't really consider myself a "day trader". Whilst I do sometimes try to pinch a few quid by "scalping" my main trading style is positional and I'm happy to remain in a trade for a few weeks if necessary.
All my best,
Mark
Closed 50% of BATS short @ 1044. Looks like there's some support coming in at that level but my trading rules indicate that I should really be staying in until there's a more definite rise - hence leaving remaining 50% of trade at present. (opened trade on 11/7 @ 1090)
