Making £8k a month on the FTSE
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timsk
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Given your comments in an earlier post about your partner, I for one am very surprised to see you posting on here so late on Saturday evening and won't expect to see you posting again until lunchtime on Sunday at the earliest!
:cheesy:
mrptraderman
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Nice one she was lying on my lap watching sex in the city film while i was on the laptop doing boring things ha ha. Anyway back on line but you were right about the last bit its 12:20 and have only been up half hour. So now mayber the illusion is back in your and others mind
Thanks
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wallstreet1928
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so have you done that analysis for me yet my friend.........
Now, try as I might I am unable to come to any other conclusion than you must have had your laptop balanced on top of you bird's head during this quiet night in?
Lightning McQueen
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please stop being so pushy, mrp will get round to it if he wishes too and when he's good and ready
2be
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What I mean is the DOW index pit time. traded when the DOW opens until it closes every day. It is a different instrument compared with DOW futures, which is traded around the clock. DOW futures is based on the DOW (pit ) plus the position of the expected performance indicated by the current demand and supply, even when there are no trades plased on the Wall Street, as it is not open for trading. Have a look at this side, What do the S&P, Dow and Nasdaq futures contracts represent? , I am sure Google shall provide more likns. There are platforms that one can trade pit index, with pit prices but only at the pit times (when the index is open for trading, and the price is an indication of the value of the index itself without being influenced by the future contracts). I am not sure that it is possible to sreadbet on the DOW index pit time, if not one wolud need to trade it on a platform as a normal CFD. Even watching bloomberg, there are two prices for DOW and S&P, one is the DOW indicating the current price when the market is open (pit time, as it is traded on the exchange floor in a given pit) or closed price with the word Closed in brackets, the other price is DOW FUTURE, which runs around the clock, parrallel to Forex. My initial intention was to ask if there are some traders taking the advantage of the apparent differences between these two prices trading either one of these instruments, and if so are there recognisable patterns of the price behaviour. It is pointless to trade lets say DOW Futures, it the difference between the DOW Future and lets say the DOW close is 150 points, unless one has got a strategy recognising this scenario as a tradable one, otherwise the risk is not well managed. I mean from TA point of veiw, uless one has got some well establish fundamental analysis in place, or a way to measure the market expectation in face of some news releasees. I know of traders who will only trade the pit time index thus eliminating the influence of the future contracts on the price of a given future index.
Hope this post explains more that it obscures,
Happy trading to all,
2be
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KillPhil08
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It's the same on odl, no changes. I've heard igindex up their spread after £50+ but that might be BS
Claudia123
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The spread will stay the same unless there's a big news item or your trading overnight. CMC I trade with widen by 2 points on GBP/USD until 7.00 am GMT. But be careful going more than 20 pp with a spread better they have other ways of getting you!! The SB firms are market makers and as such do just do that! Have a look at futuresbetting.com this gives you DMA whist still spread betting.
KillPhil08
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Spreads are always the same from what I see. When you get to £5 a point then it takes around 2-3 seconds instead of instant. Then around the £10 area it could take 10tops i reckon. Nerving when scalping fo sho.
mrptraderman
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Hi wallstreet 1928
Sorry for the delay replying. Unfortunately for some people i actually do what i say so i dont really know what will happen to the ftse when it opens. My system tells me what is going to happen after the race starts. So the race must start first. I dont actually care which way it goes because once the first signal exposes itself i then settle down to take the next one that comes along. I realise for a lot of people this sounds crazy way of trading. I take each day as a new situation and allow the signals to guide me. So as normal i have to be brutally honest and say i dont know but to me it doesn't matter. I wish i could say to you it will go this way or that and give you really good advice but i cant. I apologise for this.
Sorry for the delay replying. Unfortunately for some people i actually do what i say so i dont really know what will happen to the ftse when it opens. My system tells me what is going to happen after the race starts. So the race must start first. I dont actually care which way it goes because once the first signal exposes itself i then settle down to take the next one that comes along. I realise for a lot of people this sounds crazy way of trading. I take each day as a new situation and allow the signals to guide me. So as normal i have to be brutally honest and say i dont know but to me it doesn't matter. I wish i could say to you it will go this way or that and give you really good advice but i cant. I apologise for this.
mrptraderman
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yacarob1
If you go onto capital spreads as an example and go to the ftse there is the trade and order buttons then to the rhs is three boxes. The second box labelled i gives info if you trade this indice. It gives the time its open the spreads is 2 points and you can put anything from £1 to £200 a point. The spread does not change.. The spread varies for different indices but the actual indice itself has a set spread no matter what. I do now £10 a point and have not had any problems yet putting a trade on and i must be one of the few fast and furious trades that do at least 30 trades a day. But if this changes i will let people know.
If you go onto capital spreads as an example and go to the ftse there is the trade and order buttons then to the rhs is three boxes. The second box labelled i gives info if you trade this indice. It gives the time its open the spreads is 2 points and you can put anything from £1 to £200 a point. The spread does not change.. The spread varies for different indices but the actual indice itself has a set spread no matter what. I do now £10 a point and have not had any problems yet putting a trade on and i must be one of the few fast and furious trades that do at least 30 trades a day. But if this changes i will let people know.
2be
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When this strategy works for you, change nothing and do not be distracted by offering the same explanation time and again. There will always be some who for whatever reason shall ask the same questiones. IMO your answear reflects your trading style, using M1 TF, and going whereever the markets leads you. Questions that demand you to provide your perspective on a much longer TF like daily, could only have have been asked if one has not read your previuos post, or after reading it still missed to understand that you are commited to your trading strategy using M1 TF and going both ways, within the same trading day. Your system without a doubt has been developed by studying the market and your own interaction with it, and even if you spend the next whole week explaining it to others, it still might not work for them, because it might not suit the way they interact with the market. Simple things work and the gearing between the MAs you have mentioned used on M1 TF shall indeed provide trading signals, which your own experience, perspective, appetite for risk/reward and rules, shall further filter, thus making this approach profitable.
Have a great trading week as the volitility is likely to stay with us.
Many good trades to all.
2be
wallstreet1928
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thanks for your reply.........and thanks for being patient with me!!
good luck for next week......
richi rich
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mrptraderman
My advice to you is to keep doing what you are doing, and pay less attention and time to these forums.
You seem to have developed a system that has a ''edge'', stick to it untill that edge diminishes (no edge can last forever, every egde is unique, as is every moment in the market - after all its a numbers game in probabilities, in ever changing, seemingly reocurring patterns)
Currently i am suprised becuase you ''seem'' to be having good execution via a spread betting firm. That will however change when you reach a certain size. Spread betting firms can be faggots - remember most of them make a market, and can thus quote it in a desired level some points off from the real market.
You will know/feel (the pain) once you reach that level, at that time it will be time to move to a futures broker/Direct access in the futures markets (considering your strategic system can be scaled up to that level).
I would suggest TT platform which has direct exhange connections, however because you are running an automated strategy, try out Stategy Runners platorms, where you can automate strategies ( strategy runner is connected to TT's fix adaptor, then the gateway and exchange).
Word of caution would be commision costs - seems like you will be doing considerable roundturns. At this point you can negotiate with the futures broker for roundtrip commisions, become a ''Lessee Member'' (where you are leasing an exhange membership from another member) for very tight commisions costs, or join a trading arcade.
And as i said previuosly, there is massive amounts of money one can raise. If its your goal to be at that level, do it. Its all in the mind, talk to the investors. Its all opinions.
(Be prudent b/c FSA usually seem to have their hands up every fuking nook and cranny - however great thing is, there are many ways around it aswell! be creative)
All the best
wallstreet1928
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FTSE position looking in nice profit.......I will take 2 contracts profit @ 4288 and amend stop loss to break even for remaining 1 contract!!
good start to the week
