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it might have already happened...
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thats me
lol....
I just had nightmare. Someone on the FTSE thread just asked me what a higher low was. (seriuosly)And it got me back to thinking about when I started...Firstly looking at end of day data, and the on to intraday and all I had read was 1 book which didnt have half the stuff I now know in it. I wonder how long I would have lasted with out a BB? Probably not very long. Quite amazing really and over a year on I feel I have only just got started fro real.....cant wait until I nail my current method and system etc the I can move one to developing it more and looking in to all a bit deeper...
lol....
I just had nightmare. Someone on the FTSE thread just asked me what a higher low was. (seriuosly)And it got me back to thinking about when I started...Firstly looking at end of day data, and the on to intraday and all I had read was 1 book which didnt have half the stuff I now know in it. I wonder how long I would have lasted with out a BB? Probably not very long. Quite amazing really and over a year on I feel I have only just got started fro real.....cant wait until I nail my current method and system etc the I can move one to developing it more and looking in to all a bit deeper...
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barjon
Legendary member
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Something for the weekend
Bonsai
after celebrations :cheesy:
or drowning of sorrows 😈
Before you started this thread all those months ago I was not
much interested in day trading ftse. Now I'm hooked. And all
because it's such a super thread - continued thanks to you
for masterminding it and to all who make such interesting
contributions.
One thing that bugs me is how often a good move is stolen
by the gap open. I know that gives opportunity, as you keep
reminding us the ftse loves to close its gaps but I
wonder if it's a fools quest to try and gain from it, particularly
since the gap is usually brought on by what's happened to the
DOW.
I read somewhere (always dangerous!!), for example, that if
the DOW opens weak and is followed by a reversal that fails to
make the gain line by noon (their time) then it is likely to close
weak (and vice versa for strong opening). If the DOW is
showing this pattern then maybe shorting ftse on our close
and protecting the position with a DOW long (with a sensible
stop) could capture the next days ftse opening gap. :?:
Suspect it's a fools quest - what do you think?
Good trading
jon
Bonsai
after celebrations :cheesy:
or drowning of sorrows 😈
Before you started this thread all those months ago I was not
much interested in day trading ftse. Now I'm hooked. And all
because it's such a super thread - continued thanks to you
for masterminding it and to all who make such interesting
contributions.
One thing that bugs me is how often a good move is stolen
by the gap open. I know that gives opportunity, as you keep
reminding us the ftse loves to close its gaps but I
wonder if it's a fools quest to try and gain from it, particularly
since the gap is usually brought on by what's happened to the
DOW.
I read somewhere (always dangerous!!), for example, that if
the DOW opens weak and is followed by a reversal that fails to
make the gain line by noon (their time) then it is likely to close
weak (and vice versa for strong opening). If the DOW is
showing this pattern then maybe shorting ftse on our close
and protecting the position with a DOW long (with a sensible
stop) could capture the next days ftse opening gap. :?:
Suspect it's a fools quest - what do you think?
Good trading
jon
barjon
you make a very sound point. Trading blindly with rules like
"Ftse likes to fill its gap" is tantamount to suicide.
Most old wives tales are only tinged with truth.
I really shouldnt post axioms like that but it is snappy shorthand.
There is obviously more to it than that.
It is a matter of picking your occasion when there is reason to
believe the gap opening is a false move.
You may have noticed I don't do it every day.
But to trade ftse at the close based an old wives tale about
how the dow might subsequently close ??????
brr brr , its cold comfort in the workhouse ?
In fairness, I have never done it.
But a fool's quest ?
Viola:- In Twelfth Night
-----------------------------------------------------
This fellow is wise enough to play the fool;
And to do that well craves a kind of wit.
He must observe the mood on whom he jests,
The quality of persons and the time;
And like the haggard check at every feather
that comes before his eye.This is a practice
as full of labour as a wise man's art;
For folly that he wisely shows is fit;
But wise men, folly fallen quite taint their wit.
😆
Court fools would take a sound whupping if they judged the mood wrong !
Just like a trader who gets it wrong ?
you make a very sound point. Trading blindly with rules like
"Ftse likes to fill its gap" is tantamount to suicide.
Most old wives tales are only tinged with truth.
I really shouldnt post axioms like that but it is snappy shorthand.
There is obviously more to it than that.
It is a matter of picking your occasion when there is reason to
believe the gap opening is a false move.
You may have noticed I don't do it every day.
But to trade ftse at the close based an old wives tale about
how the dow might subsequently close ??????
brr brr , its cold comfort in the workhouse ?
In fairness, I have never done it.
But a fool's quest ?
Viola:- In Twelfth Night
-----------------------------------------------------
This fellow is wise enough to play the fool;
And to do that well craves a kind of wit.
He must observe the mood on whom he jests,
The quality of persons and the time;
And like the haggard check at every feather
that comes before his eye.This is a practice
as full of labour as a wise man's art;
For folly that he wisely shows is fit;
But wise men, folly fallen quite taint their wit.
😆
Court fools would take a sound whupping if they judged the mood wrong !
Just like a trader who gets it wrong ?
Hooya
congratulations !
I didnt realise I had missed your anniversary.
Well Done. Many people don't last the year!
First rule of trading is survival !
Are you ready yet to put together all those bits and pieces
lying on the carpet and build a Yamaha ?
congratulations !
I didnt realise I had missed your anniversary.
Well Done. Many people don't last the year!
First rule of trading is survival !
Are you ready yet to put together all those bits and pieces
lying on the carpet and build a Yamaha ?
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Yes, well done Hooya. Give yourself a pat on the back. And while I'm at it, give yourself a pat too, Bonsai. I'm sure there are a great many traders on this BB, like Hooya, that have benefitted from your efforts and are still in the game.Your contribution to T2w is highly valued and appreciated.
Martin.
Martin.
barjon
Legendary member
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Phew, that was a nervous last hour of play.
Blimey, bonsai, even I'm not daft enough to think of trading
ftse on the basis of old wives tales about the DOW.
Just wondering if there was any %age in shorting (or vice versa)
ftse on the close and opening an opposite position on the DOW
for the remainder of their day - in volatile circumstances, of
course. If the DOW soared ftse short would be covered, if DOW
tanked you'd be stopped out and ftse short would come good
on opening. The major risk would be the DOW soaring after you
had been stopped out. The secondary risks would be that ftse
did gap open commensurate with the movement in the DOW
and/or that there was sufficient volatility.
As I said - probably a fools quest.
......fools, blockheads, duffers, idiots, dunderheads, dullards,
blunderers, I alone far exceed them all in folly and the want
of sense - plautus
jon
ps: happy anniversary, Hooya, from me also
Blimey, bonsai, even I'm not daft enough to think of trading
ftse on the basis of old wives tales about the DOW.
Just wondering if there was any %age in shorting (or vice versa)
ftse on the close and opening an opposite position on the DOW
for the remainder of their day - in volatile circumstances, of
course. If the DOW soared ftse short would be covered, if DOW
tanked you'd be stopped out and ftse short would come good
on opening. The major risk would be the DOW soaring after you
had been stopped out. The secondary risks would be that ftse
did gap open commensurate with the movement in the DOW
and/or that there was sufficient volatility.
As I said - probably a fools quest.
......fools, blockheads, duffers, idiots, dunderheads, dullards,
blunderers, I alone far exceed them all in folly and the want
of sense - plautus
jon
ps: happy anniversary, Hooya, from me also
barjon
you're giving me more detail now.
still a nasty proposition, imo
-ftse may not come good in the morning and its movement after hours may surprise you. Once the futures market has closed sb's do their own thing. Not reliable enough for pairs.
Wasn't thursday an example. I think the dow tanked and ftse opened up. God knows what it did after hours.
you're giving me more detail now.
still a nasty proposition, imo
-ftse may not come good in the morning and its movement after hours may surprise you. Once the futures market has closed sb's do their own thing. Not reliable enough for pairs.
Wasn't thursday an example. I think the dow tanked and ftse opened up. God knows what it did after hours.
Cheers guys, hopefully I will still be here next year and the year after etc etc ect.
Bonsai knows my liking of poems apt for trading here's one I saw in maternity today whilst visiting my niece born on Tuesday.
Don't Quit!
When things go wrong, As they sometimes will,
When the road you're trudging seems all uphill,
When the funds are low and the debts are high,
And you want to smile, But you have to sigh,
When care is pressing you down a bit Rest if you must,
But Don't You Quit!
Life is strange with its twists and turns,
As every one of us sometimes learns,
And many a fellow turns about
When he might have won had he stuck it out.
Don't give up through the pace seems slow
You may succeed with another blow
Often the goal is nearer than
It seems to a faint and faltering man
Often the struggler has given up
When he might have captured the victor's cup
And he learned too late when the night came down
How close he was to the golden crown.
Success is failure turned inside out
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems afar
So stick to the fight when you're hardest hit
It's when things seem the worst
That You Mustn't Quit!
Bonsai knows my liking of poems apt for trading here's one I saw in maternity today whilst visiting my niece born on Tuesday.
Don't Quit!
When things go wrong, As they sometimes will,
When the road you're trudging seems all uphill,
When the funds are low and the debts are high,
And you want to smile, But you have to sigh,
When care is pressing you down a bit Rest if you must,
But Don't You Quit!
Life is strange with its twists and turns,
As every one of us sometimes learns,
And many a fellow turns about
When he might have won had he stuck it out.
Don't give up through the pace seems slow
You may succeed with another blow
Often the goal is nearer than
It seems to a faint and faltering man
Often the struggler has given up
When he might have captured the victor's cup
And he learned too late when the night came down
How close he was to the golden crown.
Success is failure turned inside out
The silver tint of the clouds of doubt,
And you never can tell how close you are,
It may be near when it seems afar
So stick to the fight when you're hardest hit
It's when things seem the worst
That You Mustn't Quit!
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