FTSE 100 intraday trading - JULY 2003

[Tubbs]

The options market allows you to get into all kinds of mess - I mean setups - with wonderful names like eagles and so forth. I think it would be for more of a move in the market though. As I said before the lack of movement is bound to give out to a wild movement. Unfortunately for me I think to the downside.

If you look at the different charts (i.e. weekly and daily) the daily shows a good MACD while the weekly shows a bad MACD. Which one wins in your opinion. I think the longer term one will. I hope not though. It is difficult to see given the extremely bullish sentiment. Warren Buffet has a name for that.

 

[cguesty]

Lockstock,
if you wanted to have a long and short trigger on d4f, set a limit order (sell) for your short and a stop order (buy) for your long. Then cancel whichever doen't trigger. I think you may be able to join the two with an OCO order so that the untriggered order cancels automatically.
Never done it myself, but that should work.

 

[lockstock]

That's fine for the second option- but if you want to be in the market long & short you need 2 accounts.

 

[waqr]

Lockstox

At some pt in your strategy you have to make a decision. Once you have taken the plunge to be either long or short you have a directional trade. Why waste your money taking two positions and then cancelling one ? much better to keep your powder dry.

 

[bonsai]

Not the best of days for me. Made the wrong choice early on
but managed to get out cheap.

Daily ranges seem to be getting smaller so expect those bollies are tightening ?

 

[barjon]

Bonsai,

Your 70 long gave me palpitations this morning since I was a happy bear at the time (I know, I know - don't take any notice of what anyone else is doing!!). I had expected a down day (although it wasn't much of one) since minor bearish signals outnumbered bullish signals (candlesticks) by more than 3 to 1 in the basket of constituent shares I look at eod. It's the same for tomorrow but they'll be pretty meaningless signals if the DOW makes a significant move by the close.

Good trading

jon

 

[Simon]

waqr
lol
thats not the only market place.
you can trade with sb's anytime you want.
thats why I mentioned the spread.

D4F ceased making a market open to new trades in the 250 cash some weeks ago & require all current positions to be closed by 18th July, I am not aware of any other outfit making a market in this index, is there one?

Prior to closing the 250 to new business the spread increased from 15 to 20 points - funny that, especially when you look at some of the other products they offer.

 

[Tubbs]

Simon, parli italiano? Come mai? Sarebbe bello a parlare di piu.

The US looks like it may bounce back

 

[Simon]

Molto di base & con i frequenti riferimenti ad un dizionario, comunque le signore amano la parola dispari.

 

[kevin546]

Bonsai

I posed the question because I thought you did not mind; I realise I can get the information but thought you said you traded both SB and Futures on the cash index and thought it would be better to get an answer from someone with experience etc. Never mind no problem.

You know perceptions are funny things but I sense a different tone in your replies to me of late and think my questions may have used up all your good will. I will not ask anymore and give others the chance but thank you for the help you have given me thus far. In any event I have got quite a bit of reading to do what with Piper, Elder and Douglas. LOL

As for today it was one of the first times I found the US open not as difficult to gauge as I normally do. That early action was bouncing between 2 earlier extended trendlines, fortunately I had left one of them on my chart as I have been using them for later resistance or support signals. When the price broke up from the luch time snail I was able to complete the higher line from the morning top to produce the ranges. When the price came back from that sudden rush it hit the support line and went up and hit the underside of the first trendline before finally failing and continuing the day long down trend.

Oh well off to do some reading. Good luck to all.

Kevin

 

[lockstock]

Nessuno può unire in?? Che è con i riferimenti al dizionario & la parola falsa? Comunque, buono per parlare a lei entrambi il & è qui al commercio di succesful

 

[lockstock]

Regarding earlier post in connection of holding a position both long & short here's the text that supports my original notion.

Read, learn & inwardly digest folks

It's called a bilateral set-up.

http://www.hardrightedge.com/wheel/hrebilateral.htm

 

[waqr]

lockstock,

Having read it, its all about breakouts ; buy if it breaksout to upside and sell if it breaks downwards. Can't see where it advocates having a long and a short position open at the same time [effectively flat!]

 

[barjon]

anyone playing ten o'clock reversal - surprising how often things begin to change at 10 am. A bit of up in the air?

good trading

jon

 

[Tubbs]

I just need the market to go UP.....UP dammit. Is this the end of the up side for the next few days-weeks?
Al proposito di l'italiano, trovo le donne amano un vero e proprio accento d'inglese, almeno in italia. L'erba è sempre piu verde

 

[lockstock]

Waqr,

Morning,


tunnel vision springs to mind.


My original post suggested two different stratagies.

1) A bi- lateral position.

2) Long & short at the same time. based on the notion ( rightly or wrongly - depending on your trading strategy, I have trouble entering the market.) So based on that premise- came up with the idea that if you were in both ways- it would be easier to close the loosing trade & let the winning trade run. Knowing that the least you could be down whilst both trades were open is twice the spread.


Hope this clears up the confusion.

Additionally Iam not advocating either of the above- just thought I'd give it an airing- see what the feed back was.


Cheers.

 

[cguesty]

Definately due a bit of upside, Barjon, but I reckon it's only going to be a correction to set up for a larger down move this afternoon. Reckon the US jobless data at 1:30 will be bad . But that's only my opinion.

 

[bonsai]

good morning all
nice continuation today and already made up for yesterdays ****.

tubbs
failure to hold inside the channel looks like bad news ?
but there should be some sort of support at 4030.

 

[waqr]

lockstock

Its not about tunnel vision nor is there any confusion, your second strategy i.e. having a long and short position at the same time is plain stupid.

nuff said.

 

[jonnyy40]

Bonsai,how robust are pci graphics cards? The inner box has been dropped or given a good kick! If I return it I'll have to wait another 10 days probably. The card's not visibly damaged.