Message For Ftse Traders......

First post here guys, be gentle!

Im down £4,153 on IG on a few Ftse100 long bets. I started buying at £2/pt long when it hit 4000. I have £10/pt on total at an avg level of 3966.

Im not happy!! Shall I cut my losses or hang on? I have a Jun-09 contract.

What would you more experianced traders do? Im a new trader.

P.S whats MA?

thanks

Hey there. MA is moving average.
 
I'm still very bearish and looking for opportunities to go short. The Dax has my attention at the mo.
 
Hey WallStreet,

Do you think the Dax will even see 3760 as it'd have to get through 200EMA on the 10 minute chart.
 

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Morning Minime and morning to Kitejedie.........Oh and tennisball the comedian!!

so what do we have in store for today guys?


poss retrace if we can get through 3622, upto 3700ish. if we cant break through 3622, then down past 3565 and onto 2003 lows of 3250.
 
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Hey WallStreet,

Do you think the Dax will even see 3760 as it'd have to get through 200EMA on the 10 minute chart.

yes you have a good point but with US futures up pretty strongly we could get a push higher at the open, but if not then 3730 is a good short on DAX.......

but remember this market has a new psychology as noted inthemoneystocks videos, it always pierces MA's then falls....so lets see!!

trade what we see guys, I'm not falling into that trap again
 
morning need a coffee. i readWS chart and ought he was talking about thr footsie.!! really need that coffee.
 
Morning Minime and morning to Kitejedie.........Oh and tennisball the comedian!!

I'm sorry i left out SD, morning to you too my friend

so what do we have in store for today guys?

At present I am looking for buying opportunities up to 3760. When (if) we reach there I'll be having a pause to think about life!!! Assuming this is the start of a wave 4 correction then I see no reason for us not seeing 3960 by the end of the week.......
 
Hi,

I have been having a look at this forum for a few weeks now and I have to say you seem to be very good bunch of guys. I am really very pleasantly surprised at the effort you put in to help each other since this can be very time consuming.

I dabble a bit here and there and was quite happy to see my Bank of China shares not continue on their slippery downward path after the falls in American exachanges yesterday. However, that is unrelated to this forum and the question I want to ask.

So as a first post ..... I am a tad confused about the price of gold as it has dropped in line with the markets over the last few days. I suppose it needed a breather after it recent increases however it does belie it status as 'safe haven', which I don't really beieve anyway in my simplistic way ..... . So, if it is appropriate for this discussion group, do you think the gold price falling is a short term positive for the markets or is there now no relationship between the two?

All the best and keep it up
Michael (..... sorry ....... tasmanian)
 
Hi,

I have been having a look at this forum for a few weeks now and I have to say you seem to be very good bunch of guys. I am really very pleasantly surprised at the effort you put in to help each other since this can be very time consuming.

I dabble a bit here and there and was quite happy to see my Bank of China shares not continue on their slippery downward path after the falls in American exachanges yesterday. However, that is unrelated to this forum and the question I want to ask.

So as a first post ..... I am a tad confused about the price of gold as it has dropped in line with the markets over the last few days. I suppose it needed a breather after it recent increases however it does belie it status as 'safe haven', which I don't really beieve anyway in my simplistic way ..... . So, if it is appropriate for this discussion group, do you think the gold price falling is a short term positive for the markets or is there now no relationship between the two?

All the best and keep it up
Michael (..... sorry ....... tasmanian)

Hi Michael,
Welcome to this thread!!! To answer your question (and there may be others who have a better view) I have read elsewhere that Gold has been replaced by USD as a safe haven....
KJ
 
Hi,

I have been having a look at this forum for a few weeks now and I have to say you seem to be very good bunch of guys. I am really very pleasantly surprised at the effort you put in to help each other since this can be very time consuming.

I dabble a bit here and there and was quite happy to see my Bank of China shares not continue on their slippery downward path after the falls in American exachanges yesterday. However, that is unrelated to this forum and the question I want to ask.

So as a first post ..... I am a tad confused about the price of gold as it has dropped in line with the markets over the last few days. I suppose it needed a breather after it recent increases however it does belie it status as 'safe haven', which I don't really beieve anyway in my simplistic way ..... . So, if it is appropriate for this discussion group, do you think the gold price falling is a short term positive for the markets or is there now no relationship between the two?

All the best and keep it up
Michael (..... sorry ....... tasmanian)
Hello Michael,
Welcome to the Thread.
If you want to know gold just search this forum for a chap called Sujit thread.
He seems to be a master of the metals and he is very very active
Go to metals......

good luck
 
The account suffered a battering, with huge losses at one point yesterday. As I went long later in the day.
As we stand The average footsie position is £1k footsie 3640 and £1K dow 6895.

Wallstreet and others shorters were right yesterday, I was a little too early as too eagre with buy orders.

If this market had not rebounded over night I would have been in trouble.

Still holding longs at above levels.
 
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