Message For Ftse Traders......

[jimmynoodles]

Ouch! Why did you close it? I'm still there, but I transfer the trade to the daily future because it closes, instead of rolling over---I'm not home at the close and can't, always, phone. I spreadbet, by the way. Don't know what you guys do.

Split

I only like to keep positions for a short time as I am just 'trying out' trading on Mondays to see if I can keep disciplined to do it or not. I am spread 'trading'. Don't know why but don't like the term betting as I don't like gambling. Could be a low breakout of the rangebound area right about now?

 

[vchohan]

I'm not doing well today 10point loss.
Wrong mindset?
Been in two winning trades for about 10points and stopped me out at break even.

Maybe someone can help.

I've now got a support at 3880 and resistence at 3945.
Not much activity as it's lunch time.

I should wait for a breakthrough of 3880 so i'll be short at 3870 or long at 3890 once the bounce occurs? Any comments?

At the moment i'm only using support and resistence.
I set 15point stop loss with a 15 point trailing stop. If I gain 10 sometimes 7.5 points i'll move my stop to break even and continue at 15 point trailing stop.

I think my entries are not doing me any justice.
How many points have you guys made today including the trade you're in on the FTSE100?

Viks

 

[Splitlink]

Hi Jimmynoodles,

I see. I am still in. There is some congestion but I cannot see any reason to close just yet. I'll take an opinion on the afternoon, just before I leave for work, if I have not closed it, either to close it or let it run until the end. Sometimes, it isn't the right choice, but I can't see any way around it.

 

[Bloodhound]

I'm still short as well and only looking at 1H bars so won't make any sort of decision until 1pm earliest. Re moving stops, I was reading the 'potential set-ups' thread over the weekend and there is an interesting post about moving stops....

Here's the link if you're interested - http://www.trade2win.com/boards/general-trading-chat/32991-potential-setups-450.html - Post no. 3598

 

[Bloodhound]

Hi Jimmynoodles,

I see. I am still in. There is some congestion but I cannot see any reason to close just yet. I'll take an opinion on the afternoon, just before I leave for work, if I have not closed it, either to close it or let it run until the end. Sometimes, it isn't the right choice, but I can't see any way around it.

Hi there SL, as a matter of interest what TF do you usually trade with?
KJ

 

[Splitlink]

I'm out.

 

[Bloodhound]

I'm out.

Ditto - DBLHC formed off the last 2 bars so have taken a massive 4 points........

 

[Splitlink]

Hi there SL, as a matter of interest what TF do you usually trade with?
KJ

I have been on 5' this morning. I use that or 15'. Hourly for SR lines. Only trade mornings. Use rolling chart for detail but trade Daily Footsie Future so as to ensure close at EOD. They have different levels but the same movements.

Good trading

Split

 

[Bloodhound]

I have been on 5' this morning. I use that or 15'. Hourly for SR lines. Only trade mornings. Use rolling chart for detail but trade Daily Footsie Future so as to ensure close at EOD. They have different levels but the same movements.

Good trading

Split

Thanks for that - I'm still new to hourly and finding the patience thing a bit of a trial!! Anyway I'm now long 3911, target 3930, stop at 3900...

KJ

 

[Jock Strap]

I'm looking at possible support at 3886. I just bagged 20 points going long at 3895

so much for that - it bounced at 3904

 

[Bloodhound]

Thanks for that - I'm still new to hourly and finding the patience thing a bit of a trial!! Anyway I'm now long 3911, target 3930, stop at 3900...

KJ

Moved stop to break even and amended price target to 3944....

 

[Bloodhound]

Moved stop to break even and amended price target to 3944....

Stopped out at B/E....

 

[Geofract]

Thought I would post a quick chart, especially as KJ had kindly asked people to post them.

It's a spiders web of channels, and trend lines, with a crazy indicator setup! I had to move back to using some indicators, as I got mullered last week trying to follow just price action... I need much more experience to really understand and trade on price action alone.

I too have run my own business for 9 years now, not that there's much business left these days!

Ollie

p.s. Now just using 15min and 3min TF. 15 min acts as a filter, and I use that to plot channels, trend lines etc. 3 min for entry...

 

[Bloodhound]

Thought I would post a quick chart, especially as KJ had kindly asked people to post them.

It's a spiders web of channels, and trend lines, with a crazy indicator setup! I had to move back to using some indicators, as I got mullered last week trying to follow just price action... I need much more experience to really understand and trade on price action alone.

I too have run my own business for 9 years now, not that there's much business left these days!

Ollie

p.s. Now just using 15min and 3min TF. 15 min acts as a filter, and I use that to plot channels, trend lines etc. 3 min for entry...

Cheers Ollie - do I take it (from looking at the 15 min) that you are bearish at the moment??

 

[Geofract]

Cheers Ollie - do I take it (from looking at the 15 min) that you are bearish at the moment??[/QUOTE

Yes, looking for another short entry, but I think I just missed it a 3935! Still, I'd rather wait for another half hour... seems like a bit of battle since the US open

 

[Bloodhound]

Cheers Ollie - do I take it (from looking at the 15 min) that you are bearish at the moment??[/QUOTE

Yes, looking for another short entry, but I think I just missed it a 3935! Still, I'd rather wait for another half hour... seems like a bit of battle since the US open

Tell me about it. I had a sell order at 3911 which iii filled when the price was on the way back up rather than when it first started going down...

Not turning into a very good Monday - am still -10 points

 

[Geofract]

Hi KJ, I am flat in a sense. If you take a look at the 15min chart, there's a clear downward channel marked with the red lines. There's been break through there this morning... so I might bullish on a sustained break out of that channel.

Basically I am finding the road forward a little unclear right now. A break below 3830 would clarify things for me though!!! That being the lower trend line of the whole rally over the last few months.

Ollie

 

[Geofract]

Tell me about it. I had a sell order at 3911 which iii filled when the price was on the way back up rather than when it first started going down...

Not turning into a very good Monday - am still -10 points

Yes, sickening isn't it!

I'm +10 for the day, but really I have missed some good opportunites this morning to go short. If I had followed my system, I would be very very nicely up now... hindsight, it's great

 

[Geofract]

Ok, looking at this now, I think we will either find support right now at 3886, or head lower to 3860 ish.

Any thoughts on this KJ?

 

[Bloodhound]

Yes, sickening isn't it!

I'm +10 for the day, but really I have missed some good opportunites this morning to go short. If I had followed my system, I would be very very nicely up now... hindsight, it's great

as if to add insult to injury my internet has just decided to pack up for a few mins. Come back online to find my price target of 3887 has been met and I'm finally up on the day. I think I may watch from the sidelines for the rest of the day as combination of iii, bt internet and flu is probably affecting my ability to make sensible trading decisions!!!