Day Trade the FTSE

Just switched on. Looks like I've missed some action. Could we be approaching a support area- say, around 5860?

No, you are not necessarily missing anything by not trading spreadbetters, Datav, but a 2 point spread on a rolling bet and no tax isn't bad, provided you are happy that you are not getting screwed. That last point worries some folk and, then, it is best to try something else, because there is enough to worry about without that! It all depends on with what you are most comfortable.

Split
 
I agree. Commissions and spreads are important, but the real issue is managing your trades. we are at support here at 5869. If we break that, next significant support is 5851. I'd be surprised if we get that low. YM and ES futures are not moving much now, but like I said...ride the wave. 25 points up so far :)
 
(values are index points rather than the future since it seems most people looking at this board are using the index)
 
no reason to get out of this yet, but buying back another quarter to be on the safe side
 
datav said:
no reason to get out of this yet, but buying back another quarter to be on the safe side
Shorting at 5926 was great, Datav, I came in late and can't get cracking, now. I think I'll call it off until tomorrow.

Actually, on a daily chart this is beginning to look very bearish to me.

Split
 
Well what a great day, took another short at 5889, half out at 5879 flat at 5841 for 48 points plus 43 this morning makes 91 for the day.
Lets see what tomorrow brings.

Safe trading
 
Even better day today for us off the floor daytraders
19SEP FTSE 5878 5849 SHORT 20 +29 (£290)
19SEP DOW 11552 11501 SHORT 30 +51 ($510)

Not bad for a few hours of work? Well not really, it's not HARD MANUAL LABOR is it?
But I deserve it, because I have a TOPIQ!
 
Congrats on a great day , datav. I came home, for what I thought, was too late. and never got started, woe is me!

Split
 
TopIQ said:
Even better day today for us off the floor daytraders
19SEP FTSE 5878 5849 SHORT 20 +29 (£290)
19SEP DOW 11552 11501 SHORT 30 +51 ($510)

Not bad for a few hours of work? Well not really, it's not HARD MANUAL LABOR is it?
But I deserve it, because I have a TOPIQ!

I try to follow Harriman's quote, but three quarters of a point? I can't do it with index trading. Did they have index trading in 1913? Probably, he was talking about shares.

Useful quote, though.

Split.
 
Wednesday

Some retracement seems likely today, so looking for a long opportunity. US markets strong and looking like they are going to retest the highs, tho we wont see any action till after FOMC. That will probably produce a spike up to 11700 on YM

Going long Z- 5867 10point stop
 
Will try to post the trades as they occur in case anyone is watching. It must be irritating to see results after the event. :)
Safe trading.
 
TopIQ said:
Even better day today for us off the floor daytraders
19SEP FTSE 5878 5849 SHORT 20 +29 (£290)
19SEP DOW 11552 11501 SHORT 30 +51 ($510)

Not bad for a few hours of work? Well not really, it's not HARD MANUAL LABOR is it?
But I deserve it, because I have a TOPIQ!


Great trading topiq. Have you ever read "When Genius Failed" by Roger Lowenstein ? If not, I recommend it. It tells the story of the best IQs in the world in Long term Capital Management. Great read, and also demonstrates that IQ alone is not enough for this business, although of course it helps :LOL:
 
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