Message For Ftse Traders......

i'm in the same situation, i have a good system but cant seem to follow it, i guess use a demo account until you are 100% confident that your system works.

I'll jump on this bandwagon. I've called most moves correctly today - I'm quite happy that I can be a profitable trader now theoretically. BUT - I physically trade like a chimp. Let me share my pain:

1) I put stops in way to small, they get triggered on spikes then I reenter the position at terrible point after the move.
2) When I get a great stop position I end up geting nervous and cutting the position manually only to see the stop would have held.
3) I *still* jump on moves as they happen - and then always watch them retrace.

The solution: I'm now trading in 1/10 of a lot at IG so all these lessons are super cheap. Hang on, as I write I see a stupidly placed stop has again triggered!
 
I'll jump on this bandwagon. I've called most moves correctly today - I'm quite happy that I can be a profitable trader now theoretically. BUT - I physically trade like a chimp. Let me share my pain:

1) I put stops in way to small, they get triggered on spikes then I reenter the position at terrible point after the move.
2) When I get a great stop position I end up geting nervous and cutting the position manually only to see the stop would have held.
3) I *still* jump on moves as they happen - and then always watch them retrace.

The solution: I'm now trading in 1/10 of a lot at IG so all these lessons are super cheap. Hang on, as I write I see a stupidly placed stop has again triggered!

the problem is a common one it is the fear of losing as we all want to be winners. ive been there done that and on some occasions still do it.

what i found helped was to keep a log of why i entered the trade, what i felt when it went agoinst me, why i moved the stop loss or got out early only to find it held and made my profit target.

the other thing i guess you are like me ,you are on your own wherever looking a screen having taken time and effort to devise your system that works but yet at teh back of your mind a little voice says "is when the system stops working?"

I found having someone else with you that knows your rules to question why you are doing what you are doing helps, by the time you have expalined it, it is usually to late to do what you were going to do.

after all trading is 95% mental and 5% other or something like that.
 
This looks like a wedge formation - the presure is building. I'm selling if we break below. As Oscar forcefully vocalises: "Don't fall in love with the upside!"
 
Hey wallstreet,

who do you use for your charts? they are much better than mine! Do you use 5 days of chart info to plot your trendlines?

I use IG charting package my friend

I have amended the time frames to my CMC charting package 7.00 - 22.00
 
I see the market as oversold, now. I've tried stop losses before. They usually get triggered, so I am closing my short trade.

I'm surprised i though you would still short........

well i certainly will be and have been shorting S&P from 720 .........expecting 690 like OSCAR!!

been busy shorting and still shorting on DAX 3700 and FTSE 3580 !! stop loss 30 points!!
 
I'm surprised i though you would still short........

well i certainly will be and have been shorting S&P from 720 .........expecting 690 like OSCAR!!

been busy shorting and still shorting on DAX 3700 and FTSE 3580 !! stop loss 30 points!!

the priceis still at the same level that I closed at. I'm not going long, just having a rest and taking stock.
 
Hidden Divergence possibly apperaing on 5 min chart.
Personally i would like to see the retracement to .382.
 

Attachments

  • snapshot-97.png
    snapshot-97.png
    171 KB · Views: 119
I am short, actually, and am up 17 points. I can't do these posts on time and watch, as well. Age---please forgive!

Watch for stops to trigger around here. I've just closed for 11 points on this latest down leg and am calling it a day.

Take care and Good Luck, All

Split
 
I am short, actually, and am up 17 points. I can't do these posts on time and watch, as well. Age---please forgive!

Watch for stops to trigger around here. I've just closed for 11 points on this latest down leg and am calling it a day.

Take care and Good Luck, All

Split

Im off for lunch - going to leave a short protected by 3585 - can't see that breaking in the lunchtime dead time. Nothing happening till 2.30 and 3pm data so should just float about. Worst case stop will cost me £1!
 
yes indeed ........follow instructions

on your platform click on

tools
real time charts
add indicator
click on pivot points

thanks i am learning to use those graphs also. how do i input moving averages onto thr price chart, when i do this from the indicator/backtest icon i get only one moving average?
thanks for any hlp in advence..
 
US of A come in and the FTSE rallies(small)

At the moment I think we have the failed retest on the Dax to blame for the little rally we've been seeing.... If the Dax breaks 3665 I'm short Dax and adding to my existing FTSE short.....
 
Im off for lunch - going to leave a short protected by 3585 - can't see that breaking in the lunchtime dead time. Nothing happening till 2.30 and 3pm data so should just float about. Worst case stop will cost me £1!

I think it did. Sorry.

That's happened to me a lot so that, when I'm in a trade and making a profit I am now more inclined to take it and go for lunch.

The same when I feel that the trade is overstretched. I get out and try to get back in again, later. I think that leaving a stop on is tantamount to giving your money back to the market.

Anyway, if you only lost a quid..... :) Have a good afternoon.

Split
 
Top