Message For Ftse Traders......

wallstreet1928 said:
yes I amended my stop loss to 3790 because i still believe we are going up and market makers may want to take out our stops...I will go short on FTSE when i see 2 bar confirmation below 4000 on 10 min chart!!........

I shorted the DAX (the hedge methodology we discussed in the morning SD) and got 10 points from it, which in turn will give me the ability to widen my stop loss on FTSE at no extra cost!!

do you understand?
Click to expand...

lo and behold what does the FTSE do, trigger everbodys stop loss at or around 3800 and then back up to 3812........

nice job market maker...........are there any vacancies because i am on the wrong side? haha!!

It was the IFO data that caused this market(FTSE) to fall, German business confidence caused Dax to fall like a rock thereby weighing on the FTSE. The DAX has now recovered from the cold(unexpected bad data that to be honest is already priced in to the market) and will now resume its uptrend 3870......

I may be wrong guys buts its solely my analysis, everybody should do there own analysis and if i am wrong then please correct me
 
finmarx said:
i'm not in the ftse - just watching it at the moment. what's the 11am news about today?

is this another rescue package for the banks?
Click to expand...

daily news releases that causes hesitation in the markets. see calender

Forex Factory

basically if those who have 20 million to trade would they scalp for 10pts or look for 50- 100pts? would they do that through a news release? or wait till after to determine direction?

so i don't trade the news but i watch it as another element like r/s.
 
wallstreet1928 said:
I totally agree with your methodology my friend and it is a very low risk strategy, but there is still scope to scalp 10-20 points regardless of which direction the overall trend is in

what do you do if the market shoots up from yesterdays lows...what is your stop loss on all your shorts!!

the market hit a low of 3780 yesterday, but has consequently risen to 3850 intraday today?

were you stopped out of your shorts ..........

it is a good strategy that works, but only for you my friend

we all have different strategies and methods and if we keep our stop losses in place we will prosper regardless of which direction the market is headed as we will always live to trade another day

I went long last night on all Indices in a bear market and did tremendously(understatement) well ......this market is oversold and we will see a spike up, because it always happens when everybody says short,short ,short!!

just like the housing market when everybody said buy, buy, buy.........

please dont get me wrong my friend I appreciate your input on this thread and wish you every success in your trading

take care
Click to expand...

I agree, you can still benefit short term going against the long term direction, especially when we have the sort of volatility we have atm. Buying last night was the highest Profit or Loss I have achieved so far on the FTSE.

Mind you I have only been trading the FTSE for a month so if I blow my account I'll know I was wrong!
 
wallstreet1928 said:
I totally agree with your methodology my friend and it is a very low risk strategy, but there is still scope to scalp 10-20 points regardless of which direction the overall trend is in

what do you do if the market shoots up from yesterdays lows...what is your stop loss on all your shorts!!

the market hit a low of 3780 yesterday, but has consequently risen to 3850 intraday today?

were you stopped out of your shorts ..........

it is a good strategy that works, but only for you my friend

we all have different strategies and methods and if we keep our stop losses in place we will prosper regardless of which direction the market is headed as we will always live to trade another day

I went long last night on all Indices in a bear market and did tremendously(understatement) well ......this market is oversold and we will see a spike up, because it always happens when everybody says short,short ,short!!

just like the housing market when everybody said buy, buy, buy.........

please dont get me wrong my friend I appreciate your input on this thread and wish you every success in your trading

take care
Click to expand...

What do I do? My stops, like this morning, were not triggered. I closed out before then and I try to short again, higher up.

Never mind. You are right, everyone to his own.

Good trading

Split
 
Splitlink said:
What do I do? My stops, like this morning, were not triggered. I closed out before then and I try to short again, higher up.

Never mind. You are right, everyone to his own.

Good trading

Split
Click to expand...

yes its a relentless downtrend
and 3660 isn't far away. :eek:
 
Jock Strap said:
I agree, you can still benefit short term going against the long term direction, especially when we have the sort of volatility we have atm. Buying last night was the highest Profit or Loss I have achieved so far on the FTSE.

Mind you I have only been trading the FTSE for a month so if I blow my account I'll know I was wrong!
Click to expand...

LOL...you really are a character!

keep your stop losses in place my friend and you shall remain posting on this thread....haha!!

I like you my friend, you are a good one just like mourinho is the chosen one!!

big match today guys

Fergie V Mourinho!!

I love Fergie becuase i live in the same town but Mourinho just reminds me of some mafia boss, the best thing that happened to the game

BBC SPORT | Football
 
OK guys............. new methodology, one that I have not spoken about a lot before but I do it quiet often in times of uncertainty as DAX is looking very weak and is dragging the FTSE down

I will short the DAX as a hedge against my FTSE position long 3830 ..stop loss 3790!!

2 things can happpen here

1. my stop loss on FTSE is triggered thereby losing (30 points not 40 points, as 10 points already made shorting DAX earlier) ....and the DAX will fall in greater proportion to FTSE as very weak, probably around 50 points or more and i will be in profit overall 50 - 30 = 20 or I could even break even but i dont think that will happen

2. my stop loss on DAx is triggered losing 26 points, but FTSE goes higher by 30 points or more i will break even and I might make a few points profit maybe 10 -20 ........

I have to pop out now so I will be interested in out come

reason for short - DAX is failing to get above 20 EMA.......

I have shorted DAX 3866...stop loss 3892!!
 
wallstreet1928 said:
OK guys............. new methodology, one that I have not spoken about a lot before but I do it quiet often in times of uncertainty as DAX is looking very weak and is dragging the FTSE down

I will short the DAX as a hedge against my FTSE position long 3830 ..stop loss 3790!!

2 things can happpen here

1. my stop loss on FTSE is triggered thereby losing (30 points not 40 points, as 10 points already made shorting DAX earlier) ....and the DAX will fall in greater proportion to FTSE as very weak, probably around 50 points or more and i will be in profit overall 50 - 30 = 20 or I could even break even but i dont think that will happen

2. my stop loss on DAx is triggered losing 26 points, but FTSE goes higher by 30 points or more i will break even and I might make a few points profit maybe 10 -20 ........

I have to pop out now so I will be interested in out come

reason for short - DAX is failing to get above 20 EMA.......

I have shorted DAX 3866...stop loss 3892!!
Click to expand...




good luck
 
Anyone shorting the DAX retracement? I'm short, in at 3869, SL 3886, target 30-40 pips. Based on retracement to fib levels. Thought there might be a pin bar on 15m chart but it's not ideal. If it breaks down through 3859 then there might be a pin bar on 1h chart which would be more like it!

Please don't take the above as advice!
 
wallstreet1928 said:
OK guys............. new methodology, one that I have not spoken about a lot before but I do it quiet often in times of uncertainty as DAX is looking very weak and is dragging the FTSE down

I will short the DAX as a hedge against my FTSE position long 3830 ..stop loss 3790!!

2 things can happpen here

1. my stop loss on FTSE is triggered thereby losing (30 points not 40 points, as 10 points already made shorting DAX earlier) ....and the DAX will fall in greater proportion to FTSE as very weak, probably around 50 points or more and i will be in profit overall 50 - 30 = 20 or I could even break even but i dont think that will happen

2. my stop loss on DAx is triggered losing 26 points, but FTSE goes higher by 30 points or more i will break even and I might make a few points profit maybe 10 -20 ........

I have to pop out now so I will be interested in out come

reason for short - DAX is failing to get above 20 EMA.......

I have shorted DAX 3866...stop loss 3892!!
Click to expand...


haha...this is too easy guys, just made 22 points on DAX whilst getting changed!!

OK so i have made 32 points shorting DAX as a hedge against my FTSE position....

I can close now for 4 point profit but i will only loose 8 points If i leave my FTSE position on as there is still scope for a rally if FTSE stays above 3790

( 40 stop loss FTSE - 32 Hedge DAX = 8)

thats it last post...........I'm off to do a kitchen up!!
 
Oh...1 more posts, im addicted!!

have a look at rio tinto chart guys and you tell me not to short that??

it is screaming out to every one, short short me!!
 
3790........................crucial figure!!

if goes below I would short like hell

if above then i remain bullish
 
I went long at 3801 and sold at 3821. Didn't want to risk slipping all the way back down another snake..

edit: Plus 3825 seems to be some resistance atm, although that is wonderful hindsight!!
 
Jock Strap said:
I went long at 3801 and sold at 3821. Didn't want to risk slipping all the way back down another snake..

edit: Plus 3825 seems to be some resistance atm, although that is wonderful hindsight!!
Click to expand...

surviving the first retrace [if there is one] is usually a bit :eek:

its now b/e mainly because we are too close to usa and its counter trend.

it was the only signal all morning :rolleyes:
 
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