Stargunner
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Anyone looking to short FTSE off this bounce from 6275? Just waiting on entry in line with my strategy.
Stargunner
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Short FTSE at 6242, little bit of pain right now, but still plenty away from my stop loss.
nitrader
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nitrader
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You short - me Long - it is a funny old game!
Best of luck to both
Now SHORT at 6254
Stargunner
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It's all about the time frames! A day trader can sell stock to Warren Buffet and they can both profit.
Good trading!
Good trading!
nitrader
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Cheers mate
I am on 1 min chart and just using sma crossovers - probably crap system but going to try and stick to the signals and see what result I get :roll eyes:
PS I HAVE NO IDEA WHAT I AM DOING - usually trade longer term on shares but thought I would give it a go.
Stargunner
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I do FTSE DAX and S&P and then businesses involved in real estate, so banks, REITS and housebuilders really.
I trade trends using EMA, Envelopes, MACD and RSI.
I'm currently running on 30 min chart for trend and 5 min for entry/exit. When not doing intraday I do weekly for trend and daily for the trades.
I don't hold myself to indicators though. As long as price action shows the trend and the usual buy support sell resistance thing goes in line with the trend.
I trade trends using EMA, Envelopes, MACD and RSI.
I'm currently running on 30 min chart for trend and 5 min for entry/exit. When not doing intraday I do weekly for trend and daily for the trades.
I don't hold myself to indicators though. As long as price action shows the trend and the usual buy support sell resistance thing goes in line with the trend.
nitrader
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Thanks for the info - still learning so started with sma but now trying to get more into also using support/resistance and price action - also BIG issue is not sticking to any method long enough to see if it gives me an edge
Are you still SHORT on FTSE?
What's your entry signal on a 5min chart?. I'm keen to understand how this compares to mine.
Stargunner
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All about making a strategy, and a risk plan, and sticking to it. Know your trade, from beginning to end before you're in the market. Use discipline so that you only adjust it where necessary, and never widen a stop loss.
Still short. Now slipped into tiny profit. My target is 6175, so a way to go yet.
Still short. Now slipped into tiny profit. My target is 6175, so a way to go yet.
nitrader
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I would be delighted if it made 6175.
I am currently living in the US - so it was an early start for me.
I have a bad habit of waking at 3am now to check the opening in the UK.
So I thought today I may as well place a trade and not just watch.
Stargunner
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PHP:
For example, I see an uptrend on the 30 min chart, or weekly chart.
I buy the dip in the 5 minute chart or the daily chart. The end of a dip for me is when price action shows a bounce off support, or when the MACD starts turning up from red and edging slowly towards green again.
Stargunner
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Having volume data would be quite handy right now... only have EOD for volume.
Stargunner
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I only keep one intraday position at a time. I'll be looking to kill this FTSE position if there isn't much movement though, ready for US open.
