Footsie - analysis, prediction, trading

[Lightning McQueen]

You can wink!! I wanted that information on the 17th

Split

You only had to ask :cheesy:

don

 

[Splitlink]

The 15' chart shows three signals that I would have taken . The first at about 1120 UK time and the other two at about 1420. The first would have stopped out and either one of the other two would have worked. In the real world, I have to go to work at about 1330, so would not have caught the winning trade. The first trade would have been mine, probably closing at breakeven or a slight loss. That is why, probably, I cannot be a successful day trader. Not sure whether I would have caught the fall at the opening- I like to think so but there was no chart setup for me.

 

[jimmy1jag]

What spread do you get with CMC? I've been trading Fins with a 2 point. Had some good wins and then lost the lot. This was over a period of six weeks. Barjon warned me about leaving the comforts of an armchair and share trading. Anyway, does your 5 points include this spread? I've used all sorts of stops, finally tried 20 points with a low cost trade. That didn't work, either. I'm unlikely to go back to trading FTSE but am willing to contribute a little to the thread because of my interest in trying to fnd out what the hell I was doing so wrong!

Split

I tried Cap Spreads on the FTSE for a while but like you I wasn't comfortable with it.

If you spreadbet more than £10/ point you are better off trading "Z" contract(s) (£5 per half point movement) using a direct access broker. With futures contracts you can see the volume being traded which is a massive help and you can always go inside the spread if it's greater than 0.5 points.... and the fills are instant!

That said, yesterday was an absolute dream... and I usually only look for the small moves... but when the big ones come along like yesterday... whoopee!!!

 

[Splitlink]

I tried Cap Spreads on the FTSE for a while but like you I wasn't comfortable with it.

If you spreadbet more than £10/ point you are better off trading "Z" contract(s) (£5 per half point movement) using a direct access broker. With futures contracts you can see the volume being traded which is a massive help and you can always go inside the spread if it's greater than 0.5 points.... and the fills are instant!

That said, yesterday was an absolute dream... and I usually only look for the small moves... but when the big ones come along like yesterday... whoopee!!!

"Z" contracts? I have an account with IB. Will ask if they do them, or do you happen to know?

Glad you had a good day!

Split

 

[jimmy1jag]

"Z" contracts? I have an account with IB. Will ask if they do them, or do you happen to know?

Glad you had a good day!

Split

They do and I use it!

Just type in Z in the underlying contract column and up it comes. You may need to subscribe for the market data.

For bit of background look at the liffe web site and do a google search on ftse future contracts.

 

[Glenn]

"Z" contracts? I have an account with IB. Will ask if they do them, or do you happen to know?

Glad you had a good day!

Split

Splitlink
You will find that the UK afternoon Futs (Z) session, esp after the US open, can be a lot more volatile than the morning session, resulting in a higher amount of risk per trade.
The morning session is more forgiving imho.

Also watch out for the regular news slots which can be times to avoid unless you like a wild ride. Available on www.forexnews.com/ - scroll down - times shown are US times.
Glenn

 

[Splitlink]

Splitlink
You will find that the UK afternoon Futs (Z) session, esp after the US open, can be a lot more volatile than the morning session, resulting in a higher amount of risk per trade.
The morning session is more forgiving imho.

Also watch out for the regular news slots which can be times to avoid unless you like a wild ride. Available on www.forexnews.com/ - scroll down - times shown are US times.
Glenn

The truth is, I'm swing trading shares again after a session of Futs. I'm on this thread to learn what I can (which I, already, have!) and, because of my interest to find my mistakes and to help a bit, if I can.

Split

 

[Splitlink]

Anyone who was looking for an upward correction at lunchtime, yesterday, would have seen a failure. . In this situation speculators must keep stops very close. It is not impossible- there have been many rallies in the afternoons.The main trend throughout the day was down, though, and Wall Street looked poor.

 

[Splitlink]

After hours there was a breakout last night and this morning there has been another one. I bought a few shares this morning. Will it continue? Who knows?

 

[Splitlink]

Closed out my shares while in profit- less than a point. I like to be able to put a profitable stop underneath before I go to work and I was not able to. Footsie has slipped below my top line, too, and this is still a downtrend so best out if it cannot be watched.

Split