FTSE 100 February

[FetteredChinos]

i know that Hooya. i used to get wound up by TomH and Swager posting their "live" trades over on TT.

even when the market clearly moved massively against them, there used to be a post the next day saying something along the lines of "had a good day yesterday, started badly but ended up in profit" . Even with all the averaging down in the world and a bit of luck, its pretty hard to see how a move 50-100 points away from you can end up profitable.

still, these guys have bigger balls than me.

FWIW as per my journal im still long on March Futures from 4365 on monday/tuesday (currently 4375) . tedious progress since then.....

from tiny acorns, tiny oaks will grow!

 

[bonsai]

FC
I know what you mean.
I used to post on TT as well

but its not like that here.

 

[Finirama]

The last complex head and shoulders on the 1hour chart played out and hit target 4,356. If this is indeed the making of an inverse head and shoulders and plays out, we should hit 4,460 around mid next week.

 

[FetteredChinos]

indeed, Daddy Bonsai runs a tight and honest ship...


although i am long at £20,000 a point since 5,500 . buying loads here. more more more..come to Chinos...

my trading strategy is highly acriate and shall not fail!


hmm, humility is usually a better course of action.


FC

 

[FetteredChinos]

Fin, im not so sure about the chance of 4460. i think we may fail before then..payroll data (is it??) tmr could lead to a big sell off. most other news has been sold off, plunging us through previous support levels. i really wouldnt like to stand in its way.

FC

 

[Hooya]

Ive been following T2W, ADVFN and
TT for the last few weeks and generally
found a few things to be true. The number
of posts on index trading is on the
decline across the boards. The number
of "delayed" entry exit posts are
on in the increase. And the most
worrying one is the poster who
comes on a BB and posts
an entry and disappears. No TA ,no
fundamentals, no chat; just posts
and runs. I dont understand it???
Also there are more gambler type
traders than systematic traders,
which makes learning new stuff very
difficult. Have to say TT is the worst for
gambling type traders,although they
seem to make money it's not much use
to my trading eductation.

 

[FetteredChinos]

to lighten the tone, a quote from Ananova

'A Brazilian football referee is facing divorce proceedings after he pulled a pair of knickers out of his pocket instead of a red card during a match' - Ananova.

 

[Hooya]

LOL FC (for both posts)

 

[bonsai]

the a/d has found its way back up hill

now back where we started.

at Zero

I guess we can start the day again ?

 

[Hooya]

Seem to be in a channel (they are parallel before you ask)

 

[FetteredChinos]

Hooya, you post on there as "Link" dont you??

what do you think of DC2000's calls? although i would never dream of following them verbatim. he does seem to get them right more often than wrong. viz his calls last week about -60, + 48 and then -192 moves.. he was pretty spot on with them. i was astounded.

all the stuff about spiral calendars is interesting though, but since the majority of people dont understand it/use it, how is it meant to make the market move?? TA works because the majority of traders see a set-up and then all act on it together.. viz triangle breakouts, head and shoulders, flags, pennants etc.

still, the more knowledge, the better, but when money is on the line K.I.S.S . how else can you think clearly and act decisively?

if you want, i can post the reason why i went long at the close on monday, but it probably wont help you at all, as my methods are clearly inferior to most people's. But the important thing is that i understand my method and have faith in my system. a trade only fails if you dont stick to your plan.


just my 5 roubels.

FC

 

[Finirama]

FC,

Agree the target seems a bit far in the distance.

There a couple of shoulders. The above target has used the largest of the lot....there is another set of shoulders with a target of 4,435ish...only problem is tha i'm currently showing 2 peak negative divergence on RSI?????

 

[FetteredChinos]

I wouldn't worry about RSI. Mr Market doesnt.

still, i appreciate your concern.

4435 looks more in keeping with my target levels in the short term.

ideally i would like to see this one hit at some stage today, as ive had this poxy trade running for bloody ages, and would quite like to close it soon and bank some profits!!

good work though Fin.

we will just have to wait and see what the US open does for us. I would still like a conclusive break of this mornings high though.

FC

 

[Hooya]

fc, DC does have very good calls and by the sounds alot of work
went into devising the method. But obviously there is no way I would trade them (unless I knew how they worked). I mainly use the BB for education : learning more and also to stop myself going mad.

Personally I think the market will move similarly with or without traders knowledge of TA. TA is not what is going to happen but more What is happening.

P>S No need to post entry reasons, I wasnt refering to you and
what does K.I.S.S mean???

 

[bonsai]

Hooya
Just seen your 'review'

I think you and I have always suspected that most 'traders' are gamblers . They are simply not prepared to put in the work nor to be selective in their trading.

Too many books suggest all you need is one of the many indicators and you will make lot of money.

So they try their hand and soon disappear. (down the drain)

But it's their money.

The one off's are "all mouth and no trousers"


You could put them on the 'ignore' list I suppose.

 

[mully]

Nice to see a trend of higher highs and higher lows on the FTSE100 hourly chart.


Bonsai, hope the chart size is ok

 

[Hooya]

Mull the reason why Bonsai needs
the charts so small is because he wears
really big glasses

(sorry couldnt resist Bonsai:-0)

 

[bonsai]

mully


you have definitely become a pro at that.

now where is my magnifying glass.

 

[FetteredChinos]

Lol @ Mully's baby chart...

aww isnt he cute

good point though, up trend still in place. still all seems a bit iffy to me at the moment and could all go "tong" at a moments notice.


K.I.S.S gave rock and roll to ya, but also stands for Keep It Simple, Stupid.

ie, you can see at a moments glance if things are about to fall apart and then act on it. This is why i dont really like indicators - the market may be moving massively, massively (cf Man City) against you, but your indicators are telling you otherwise!! if you then disregard your indicators and exit, what is the point in having indicators in the first place.

that last phrase reminds me of my mate Will and his motorway driving "technique". Its usually better to be asleep in the car - less stressful

 

[FetteredChinos]

you were saying about Bonsai and his glasses??

http://www.bonsaiinformation.com