Message For Ftse Traders......

[Geofract]

Hi guys been at work today so didn't get the chance to trade looks like a nice shorting opportunity just been missed.

Would've taken that bounce of the 3940 resistence almost 100points in the bag.

How's everyone getting on today. No much great activity going on earlier.

Anyone got a support level?

Yes, where is the floor to this market? anybody?

 

[vchohan]

3840 as support? What you reckon?

 

[Geofract]

3840 as support? What you reckon?

Yep, looks like it...

 

[Jock Strap]

3840 as support? What you reckon?

Worked for me, quick 70 point gain in the bank

 

[Dentalfloss]

a big bounce

 

[wallstreet1928]

we are just watching the market get battered and my S&P target get hit.......
i think I will take profit around 750-755 .....

cheese!!

I closed my position for a beautiful profit earlier at 754'ish.........................

i have subsequently opened another long term short @ 775 & 770 .....

 

[fast trader7]

Job done for the week, daily and weekly target met! Hard work but got there in the end.
How did you guys do? Traded dax in the morning and ftse in the afternoon.
I normally take anything between 5-10 points and i do a lot of trades.Some might say it is not the
right strategy,but then again it has been working for me for the last 1.5 years or so, i think i should
stick to what is good for me.
Any suggestions?

Have a nice weekend, I am off to Brighton tomorrow to meet my mate who is still toiling 9-5 (no disrespect anyone doing 9-5)
Take care

 

[wallstreet1928]

Yep, completely hammered! I was going to go short at 3900... seriously should have taken that short now, but I bottled. Price is 3845, as I write.

Looks like your S&P target is very close now WS! well done!

thank you my friend........

have a nice weekend every one ...happy trading!!

 

[Jock Strap]

Job done for the week, daily and weekly target met! Hard work but got there in the end.
How did you guys do? Traded dax in the morning and ftse in the afternoon.
I normally take anything between 5-10 points and i do a lot of trades.Some might say it is not the
right strategy,but then again it has been working for me for the last 1.5 years or so, i think i should
stick to what is good for me.
Any suggestions?

Have a nice weekend, I am off to Brighton tomorrow to meet my mate who is still toiling 9-5 (no disrespect anyone doing 9-5)
Take care

I think the strategy of taking the small gains can work well as long as you also have short stops in place too, obviously.

Personally, I do a bit of both. I may take 5-15 point gains but when I think the market is clearly trending, as with FTSE futures last night, I ride the trend but manually trail my stop which gets me out at the first sign of a reversal without taking any major risk once I am comfortably in the black (30 points and above).

I also swing trade a few UK stocks where my signals tell me they are oversold/bought. Has worked great with a number of stocks recently (in general!).

I've only been full time a few months, and hit my weekly target this week despite (or because of?) the market turbulence, so I'm happy. I definitely don't miss the 9-5 toil!

I also think in the next few weeks, a longer term long position may be a good call, any thoughts?

 

[wallstreet1928]

I think the strategy of taking the small gains can work well as long as you also have short stops in place too, obviously.

Personally, I do a bit of both. I may take 5-15 point gains but when I think the market is clearly trending, as with FTSE futures last night, I ride the trend but manually trail my stop which gets me out at the first sign of a reversal without taking any major risk once I am comfortably in the black (30 points and above).

I also swing trade a few UK stocks where my signals tell me they are oversold/bought. Has worked great with a number of stocks recently (in general!).

I've only been full time a few months, and hit my weekly target this week despite (or because of?) the market turbulence, so I'm happy. I definitely don't miss the 9-5 toil!

I also think in the next few weeks, a longer term long position may be a good call, any thoughts?

yes I concur with your analysis but we must always buy on analysis rather than our thought process.

One can never succeed in attempting to catch the bottom of the market so if you are attempting to catch the bottom then start to buy in increments in the next few weeks...

I for one certainly will be looking for nice oversold pull back........wether its a long term rally or not I don't really care as I will be looking for few points

S&P around 740 - 750 ....looking at 20-30 points
FTSE 3500 region - looking at 400 - 500 points
DAX - I will start accumulating now anything below 4000 level
DOW- I will not go near it as it has a mind of its own, Artifical intelligence!! haha

 

[minime69]

how does the saying go....

he who tries to pick bottoms, gets smelly fingers!

only charts have a floor and a ceiling, not the market!


any more?

 

[Bloodhound]

Hey Guys,
The sun is shining - it's a great day. What are you doing in front of your PC's????
;-)
KJ

 

[minime69]

Hey Guys,
The sun is shining - it's a great day. What are you doing in front of your PC's????
;-)
KJ

was just checking emails and statements, thought would look on here as missed the afternoon yesterday.

thats my excuse whats yours?


i'm of out with kids, ice skatting.

good weekend to all.

 

[Bloodhound]

was just checking emails and statements, thought would look on here as missed the afternoon yesterday.

thats my excuse whats yours?


i'm of out with kids, ice skatting.

good weekend to all.

My excuse is that I'm sitting in the garden on my laptop, thus combining my growing obsession with trading with a healthy, outdoors lifestyle ;-)

Have a great weekend!!

 

[vchohan]

Contemplated whether I should give myself up but here I am anyways just checking up on what I've missed. Very nice bounce off the 3840 congrats to making the points on it!

I got a question What do you look for when you know it's a bounce off the resisence or support?
Are you looking at a certain amount of bars etc?

Lovely day today! Wish I went to brighton today!

Viks

 

[wallstreet1928]

Hey Guys,
The sun is shining - it's a great day. What are you doing in front of your PC's????
;-)
KJ

I always believe in having stability with instability to hedge myself.....hence my day job! I am currently contemplating going part time and working 20 hrs per week......besides it good to work as you can become a hermit/nomad sitting at home all the time as I get to socialise with work colleagues and go into the office as well

I am working today 9 - 5 .........I try to work more weekends so that I can get more trading days off but manager doesnt like it!!

I work some crazy shifts guys to get weekdays off ........

 

[Bloodhound]

I always believe in having stability with instability to hedge myself.....hence my day job! I am currently contemplating going part time and working 20 hrs per week......besides it good to work as you can become a hermit/nomad sitting at home all the time as I get to socialise with work colleagues and go into the office as well

I am working today 9 - 5 .........I try to work more weekends so that I can get more trading days off but manager doesnt like it!!

I work some crazy shifts guys to get weekends off ........

Top post Wallstreet!! Something that has never really been an issue for me with trading has been giving up a day job as, prior to last September, I had run my own business for 7 years, so the concept of not having a guaranteed income has become ingrained in my mentality. As you all I know I am very new to trading so don't listen to anything I say about trading without taking it with a huge pinch of salt. However, before going full time in trading, anyone contemplating it should have a long hard think about whether they are going to be suited to it or not because not everyone is. Giving up working for someone else and starting working for yourself is a major leap of faith and requires a huge amount of self-confidence. It doesn't matter whether it is trading or running a business or whatever - the key thing is that all of a sudden the buck stops with you. This is not a level of pressure that everyone can feel comfortable with. IMO the only thing that makes trading potentially easier than running your own business is that running your own business tends to mean (at some point) probably employing people which all of a sudden means you aren't just earning a living for yourself and your family, but you also have other mouths to feed every week / month etc.

In conclusion, think very, very hard before committing to self-employment - it isn't for everyone. Trading is hard enough without the eternal pressure of having to put food on the table.

Anyway that's my rant for the weekend!! I've just put the finishing touches to my revised 2009 Trading Plan and am now off to make sandcastles on the beach with my God Daughter

Adios amigos
KJ

 

[Dentalfloss]

if 740 area holds ,then expect a bounce.that is a long downward column ,with no retraceement
there is a cluster of vertical counts at 680-690

 

[Jock Strap]

In conclusion, think very, very hard before committing to self-employment - it isn't for everyone. Trading is hard enough without the eternal pressure of having to put food on the table.

Or have an employed spouse with a tidy salary... :clap:

 

[Dentalfloss]

s&p 100.the large caps made an all time low
not so for the s&P midcaps or the small caps
data is eod.got a new charting package called bullseye