Message For Ftse Traders......

[Splitlink]

KJ - do you find fibs to be useful? I cant get the hang of them. Also has anyone got a market profile system working using the IG charts? I thinkk today could be a nice MP day

Fib levels are only useful because so many people use them that they become important.

You can use any other level that you like and if it is statistically viable over a period of testing, then that is the one for you.

The strange thing is that many folk swear by the Fib 50% line and it does not come into the Fib calculation, at all. You might as well use the halfway line between high and low and be done with it.

 

[wallstreet1928]

Fib levels are only useful because so many people use them that they become important.

You can use any other level that you like and if it is statistically viable over a period of testing, then that is the one for you.

The strange thing is that many folk swear by the Fib 50% line and it does not come into the Fib calculation, at all. You might as well use the halfway line between high and low and be done with it.

Hmmmmmmm...interesting!!

I'll add that tip into my armoury.....

thank you

 

[TomTom]

Well what is this some buying at last ?

3540 and 6740 BE currently about +70

Been a roller coaster with much worry, at one point acct on margin call and down over 300

Honestly if we had not of rallied of the lows i would have been close to wipe out .

Risks need to be taken for better or worse if one is to make big money at this game.

Thanks for all the support even though most were shorting the hell out of my postions LOL

 

[wallstreet1928]

Intra-day break out on the down side

20 MA has to hold or we go to 50 MA------ bearish sign!!

the euphoria over the asian bail outs are beginning to dissipate!!

 

[Bloodhound]

Well what is this some buying at last ?

3540 and 6740 BE currently about +70

Been a roller coaster with much worry, at one point acct on margin call and down over 300

Honestly if we had not of rallied of the lows i would have been close to wipe out .

Risks need to be taken for better or worse if one is to make big money at this game.

Thanks for all the support even though most were shorting the hell out of my postions LOL

Glad it's coming onside

 

[sweary_monkey]

Well what is this some buying at last ?

3540 and 6740 BE currently about +70

Been a roller coaster with much worry, at one point acct on margin call and down over 300

Honestly if we had not of rallied of the lows i would have been close to wipe out .

Risks need to be taken for better or worse if one is to make big money at this game.

Thanks for all the support even though most were shorting the hell out of my postions LOL

TomTom: curious to understand how you got there from £2k Long 6845 DOW/ £2k Long 3560 Foostie given what happened last night? Have you doubled down again?

Always keen to see how somebody trades their way out of a hole as I've been there too many times myself! Thanks

EDIT to say: very glad to see it's gone your way. I'd have been off the window ledge about 5pm yesterday.

 

[RennieAMR]

Thanks for all the support even though most were shorting the hell out of my postions LOL

You'll be glad to know I got stopped out LOL!

That's one tough trade to be in.

 

[tennisball]

Wow - sold the dax R2 as it coincides exactly with historic level and bought the bounce off another historic trendline. Amazing - the markets like a machine!

Pretty bonkers that Black and Scholes got a Noble Prize for a model that said the markets were memoryless and a random walk ha ha!?!!

 

[tennisball]

Intra-day break out on the down side

20 MA has to hold or we go to 50 MA------ bearish sign!!

the euphoria over the asian bail outs are beginning to dissipate!!

The great man Oscar was predicting a third big down move as Asia went into crisis. That's a good enough reason for me to stay bearish for the coming weeks.

 

[wallstreet1928]

Well what is this some buying at last ?

3540 and 6740 BE currently about +70

Been a roller coaster with much worry, at one point acct on margin call and down over 300

Honestly if we had not of rallied of the lows i would have been close to wipe out .

Risks need to be taken for better or worse if one is to make big money at this game.

Thanks for all the support even though most were shorting the hell out of my postions LOL

im glad to hear that my friend.........

rise like a phoenix from the ashes ........

 

[RennieAMR]

easy formula for me today......................................and you can all follow if yo want!!

S&P > 700 market sustains rise and we may get a little rally

S&P < 700 all hell break loose and we test 680 and below taking all indices with it

Another thing to bear in mind about this is that if NY opens where the futures are now and there's a gap fade, that would set up a potential H&S on the SPY. If it played out, the move would be 150-200 points on the S&P and would drill a bit of hole in the FTSE.

There's nothing to say it will happen but it's worth bearing in mind as a possibility.

Best of luck, I'll see you all later.

 

[wallstreet1928]

head and shoulders any body...........

 

[wallstreet1928]

Another thing to bear in mind about this is that if NY opens where the futures are now and there's a gap fade, that would set up a potential H&S on the SPY. If it played out, the move would be 150-200 points on the S&P and would drill a bit of hole in the FTSE.

There's nothing to say it will happen but it's worth bearing in mind as a possibility.

Best of luck, I'll see you all later.

very good analysis................I agree!!

 

[zo786]

sorry trying to catch up and learn here.

so RennieAMR, are you saying a head and shoulders on the S&P would effectiveley damage the FTSE by a large amount, potentially?

 

[wallstreet1928]

sorry trying to catch up and learn here.

so RennieAMR, are you saying a head and shoulders on the S&P would effectiveley damage the FTSE by a large amount, potentially?

yes it would my friend.............

welcome to globalisation

 

[zo786]

hmm ok, thanks.

 

[wallstreet1928]

easy formula for me today......................................and you can all follow if yo want!!

S&P > 700 market sustains rise and we may get a little rally

S&P < 700 all hell break loose and we test 680 and below taking all indices with it

programme the formula in to you trades and please send me 10% of all royalties.....

haha!!

 

[Splitlink]

I'm making a small net profit, today, after losing 14 points on my first trade. Very poor day for me.

I think I'll sit this out until I go, in 25 mins. There is a lot of SR here.

It's an EOD close so I am putting my stop at 14 points below entry, which gets my money back if it goes up.

I'm off. Good trading this afternoon, fellers!

Split

 

[fast trader7]

Hello
Traded the ADP payroll news. £20 a point and managed 8 points.
Well done myself!!!

 

[Dentalfloss]

non farm payrolls on friday in the us.market watching out for this