FTSE 100 intraday trading - JULY 2003

[taxibrod]

Hi again,
Sorry to bother you gentlemen, me being a newbie and all, but I wondered if i could submit my figers for tommorow's, at least you can have a good laugh!

PIVOT=4114, R1=4153, S1=4090. H=4137.5, L=4075


The following Figers are measured form the bottom up!

DAY 61.8% FIB=4114, WEEK 78% FIB4112, 61.8% FIB FROM MARCH LOW = 4115, YESTERDAY'S 15MIN GRAPH TREND UP TREND SUPP CROSSING BETWEEN 4108-4115.

My fractals edge daily graph indicates an up day tommorow, again.

What about a gap opening up, depending on Wall ST etc, maybe filling the gap ending up eventually near 4115 ish, then going long on the primary wave up.

Bet you think Im a right plonker now, sorry!

Thanks, Ian(taxi)

 

[bonsai]

Taxi
don't put yourself down.
we're all trying to live with change and we all get it wrong,
quite regularly actually.
Don't use such specific pivots myself but I would expect 4152
to provide resistance as its also a fib 4219/3952.

good stuff

 

[bonsai]

Everybody will know now that we are getting close to an important chart point.
We may be closer than we think ?
Its always nice to finish on the high but sometimes it can also
be the last chance for the MM's to draw people in before a reversal.
Be careful out there.

 

[barjon]

Bonsai,

What do you make of the sudden drop in A/D at the end.
Was this after the auction? Maybe emphasises your "be
careful"?

good trading

jon

 

[bonsai]

The auction only caused ftse to drop by about 2pts.

 

[Sledgehammer]

fyi
25 July 2003 07:38:32
Exchange [Liffe] : Exchange message. , FTSE 100 OPENING CALL PRICE IS SET AT 4100.00 OUTER LIMITS ARE SET AT 50 TICKS

 

[Sledgehammer]

fyi

25 July 2003 07:39:52
Exchange [Liffe] : Exchange message. , FTSE 100 OUTER LIMITS ARE SET AT 80 TICKS

 

[bonsai]

morning
with cash at 27 I have sb at 20/23
they dont seem to believe this pull back

 

[Ghost Dog]

Morning all,

anyone else got no futures feed? Message from IRD saying no updates for Eurnoext/Liffe products.

Broker feed is OK.

 

[oatman]

Tenfore OK

 

[Lambchops]

Anybody notice that the SB`s usually spike at the opening in the opposite direction to which the index usually heads - Probably taking out a few stops. I tried this morning and managed to buy at 02 this morning and then sold too early at 16 but does anybody trade this?

 

[Ghost Dog]

Thanks Oatman,

trialled them once, good charts, only thing that put me off was the 3 month sign-up.

Don't need a premium service now anyway, packing in the futures at the end of the month and going back to spreads, to force me to go longer term and sit on my hands.

Off thread a bit, but can anyone recommend a clean, Java-based chart service for world indices? Something like quote.com Qcharts, but with FTSE. It would need CCI, and the usual internals for US.

Someone posted up this newcomer the other day, but as far as I could see they don't do FTSE in their world indices package, although I find that hard to credit. No reply to email, the same old story.

http://www.prorealtime.com/en/

Thanks.

 

[Ghost Dog]

Sorry Lambchops, wasn't looking, butting in over a more interesting point.

Never traded that when I was spreading, but seems logical. Stop-running seems to apply to every market in existence, why not theirs?

 

[bonsai]

lambchop
if you get it right, you can make some very quick money
but its for experienced scalpers only, imo
if you get it wrong you can have a very bad hair day.

 

[jonnyy40]

Have you been in since just before 9 Bonsai?

 

[be-positive]

Head on the block time (short ftse 19) you can all have a :cheesy: now
OUT at 25 ( -6 )

 

[bonsai]

hi jonnyy, what's up ?

 

[jonnyy40]

I wondered if that early failure to push through support was a Goose?

 

[bonsai]

I dont see it as a goose
I read it as a test of the support line form 4045 ?
whether it will hold is another matter but so far so good.

 

[bonsai]

Page 166 in John's book.
He tries to set out a strategy for trading Gap openings.
There are no hard and fast rules. Everybody should develop their own.
Its really only for those who
a- believes a gap opening is an identifiable event. (There are so few)
b-want to trade it as part of their system
c- are looking for consistently low risk entry. (Stop is very clear)

My own approach is to hunt out opportunities where market makers
create a gap opening but under-estimate the sentiment in the
market.
And after a few minutes of 'trading silence' the big boys come in
to move the market in the direction of the gap, leaving a partial
gap behind.

"A few minutes" is decided on a case by case basis.

But I would emphasise that not every gap opening is suitable.

"I must devise a system, otherwise I will be enslaved by another man's"
(William Blake)
That applies to macd, rsi,cci etc as well.



If you have the book, its worth reading closely.
If you don't, I would commend it.