shortorlong
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Hi all,
I have recently been looking at trading the ftse. I was wondering if anyone could tell me what i need to be looking at? oil prices? interest rates? cpi? level 2/order book? or will just plain old price action do?
Any help is most appreciated.
jords
A thousand traders will tell you a thousand different methods .. price action should be enough IMO .. but pay attention to the timing of data releases : Forex Forum, Forex Calendar, Forex News @ Forex Factory
... also watch for price action (reversals may occur) at support/resistance, previous day's close, previous day's high/low. Another time to pay attention is around 2:30 UK time when the US market opens.
If you are just starting out, use minimum stake until you become consistent, also set stops and accept your fate ... In other words, don't run your losing trades
P.S. I no longer trade the FTSE, I trade Cable. I find it easier to predict by observing the price action. Also I scalp 10 points here ten points there, I sometimes get lucky, sometimes I get careless.