it's ok Fin....not sure what you think about it but I think if
one views/trades the dow in a 1 min chart then for the FTSE the same system needs to be viewed/traded in a slower time frame i.e 5 mins.
just that because of the speed and size of moves in the dow a 1 min chartsignal will give you 30 point moves etc but on the FTSE a 1 min signal might last 5 points.
I m just new to this game and you will definetly have far more knowledge than i do...thats why i read u'r posts/bonsai's posts, CMan and ChinaWhites posts eagerly.
not at the moment they are not but know what you are saying.
but Im talking more about the signals. Its not like you are going to get the same trade able patterns etc in a FTSE 1 min chart the same as in the US imo. Obviously if you are willing to trade at twice or 3 times the stake for a 5 point move then maybe. But I trade for 20+ point moves which would be the equivalent of 40dow points. To do this I have to use a 5 min chart 1 would give me false overbought RSI reading etc but in the US it would be fine imo
no you are not doing anything wrong but very hard to trade the US and UK the sameway. Print out a 1 min chart just with RSI for both UK and US at the end of today and see the difference. Remember a 5o dow move and 5 point ftse move arent the same....the spread on the FTSE is 40% but the US is 10%. It all
comes down to whats tradeable
edit:
btw the above refers to theoretical point s from a 1 min signal
obviously a 5 point move is roughly 10dow points
Yeah i see wot u mean. i just increase my stake size, as i do with the S&P. I find the rsi reading on the DOW and FTSE are different and find the 14 not as reliable...thus the use of 19 days and only in conjunction with the 32ema
hooya
on the waves, I have the pull back to 4400 day before yesterday as 1 of 5 of C. But the 5th of 5th could be higher up than we are now if it extends again.
Jonny not going to give you my signals but dont forget the FTSE daily range average is about 39 points this year so you only need to get 50% of it. Btw I am short> I have no idea whether it is going to be a winner/ loser or by how much but I know my signals traget the bigger moves than they would in a 1 min chart. Which was the point I was trying to get across to Fin.