FTSE 100 intraday trading - JULY 2003

[bonsai]

ftse is quoted now at 44/48
probably not enough in it to be worth the risk.

 

[bonsai]

morning

we now have a few overhead gaps.
so as long as the dow behaves ........

 

[bonsai]

ok, that's my early morning swim over
out at 52 for +8

ftse likes to fill its gaps.

 

[Lambchops]

Bonsai - Trying 12/24/5 MACD on 5 minute D4F and got in at 41. I`m itching to press the sell button though.

 

[bonsai]

that trend line I mentioned in my daily summary ?
its now at 160 so it may be worth waiting to see what happens next.
its now a resistance line.

 

[bonsai]

nice work lambchops
my last post was not intended to put you off in any way.
it may well push through and up.
it was just a routine observation.

fingers crossed ?

 

[Lambchops]

Sold at 51 on the reverse 12/24/5 D4F crossover +10. Havn`t taken the reverse trade. Time for a break.

 

[bonsai]

gap is now well and truly filled.
and ftse doing the expected, going back down.
we have now bounced up off the bottom line and
bounced down from the top line.

don't you just love it when a plan comes together ?

 

[waqr]

morning

we now have a few overhead gaps.
so as long as the dow behaves ........

Where do you see o'head gaps?

 

[Wideboy]

Broken down thru support now - expect 4130 soon

 

[hungrybear]

"Where do you see o'head gaps?"

There aren't any I'm aware of. But there's a big gap way below form the 13th March!

 

[JeanM]

Bonsai


I think I read earlier that you have been trading for eleven years. How long did it take you trading the FTSE intraday to be consistently successful. I keep plodding away but have yet to achieve those day in day out consistant points. You serve as an inspiration that it can be achieved.

 

[bonsai]

thanks Jean , its appreciated.
I could have said 2 years and moved on but your question deserves better than that.

I don't think it's a matter of time. Nothing magical happens at the end of 2 or 3 years.
If you don't feel successful and you carry on doing the same things , don't be surprised if nothing changes ?

The problem is - what needs changing ? -
Are you reaaly serious about trading ?
Are you sure you have a complete system of trading ?
Have you found your comfort zone ?
Do you believe in your system ?
Are you comfortable living with change ?
etc

I suspect successful trading is having ALL the bits necessary to build an engine that works.

I am not a coach but I hope my few thoughts will help.

 

[bonsai]

sitting idle now
earlier closed when we got back to the gain line.

the only thing I am working on at the mo is the top
trendline from 184 across the highs
it's not just any trend line. It's provided resistance 3 times now.
at about 150 at 4pm.
on the downside I guess we could fall back to 32 and still have
positive wave count ?

but in between , looks a bit murky.

 

[bonsai]

if it was 9am, I might put on a long just here.
but who wants a signal at 4.27 ?

 

[JeanM]

Bonsai

Thanks very much for your reply and your words of advice.
My main problem lies between my ears! I'm working on it.
One problem I have is I try too hard to hit tops and bottoms, and if I miss them sit there like a rabbit in the headlights thinking I'm too late to get in when most of the time I'm not. Will persevere as I am determined to get there.

 

[bonsai]

why not try switching environments ?
what job do you really not like doing especially first thing in the morning.?
why not do it BECAUSE you don't like doing it ?
get into the habit of doing it ?
if you can overcome that resistance, then maybe it will help
to overcome 'not liking to trade' in case you're too late ?

we are not all natural traders , including me.
in case you want to know, its the left side of the brain that is the problem !

 

[bonsai]

somebody asked me about gaps earlier on.
this is the dot chart I work from and it covers the last 2 days.
It is a 2 min chart and shows up the gaps quite nicely.
.

 

[barjon]

bonsai

wot an interesting chart - not seen dot charts before.
to save lengthy explanation do you know of a site to
learn about them?

good trading

jon

 

[bonsai]

sorry barjon can't help
but I expect some of the chart websites allow dotcharts as opposed to bars/lines/candles etc.