Message For Ftse Traders......

[keithh]

this mornings plan so to speak

Short 4056.1
Target1 4047.6 stop to b/e
Target2 4039.1
Target2 4022.1
Target1 4013.6 stop to b/e
Long 4005.1
providing the setup is right currently long from 4005.1

closed @ Target2 4022.1 +17. breakfast time.

 

[keithh]

closed @ Target2 4022.1 +17. breakfast time.

another +17 going higher stop at 4022.1

 

[keithh]

another +17 going higher stop at 4022.1

closed 4027.5

 

[HaloTrader]

OK my experiance.

Generally I do not have much of a problem placing trades on my platform. but it does depend on how I place my trades. if I place a market order it goes in quite quickly. sometimes there is a lag due to the number of actions happening at that time but he price is generally the same as i hit the button. i sometimes get requotes but again this is usually in my favour. if I place a limit or stop order it always fills at that time not had a problem yet.

Ive spent sometime with my account manger asking such questions such as when will ban me if i'm to successful, At what point do you start to take notice of my trading etc.

I gave an example of if I traded at £20 per pt and took 50pts a day out would that alert you? the answer was with a laugh and during we have traders placing £500 per pt and making money so no it would not bother us. £500 per pt is the limit they have

if you are that good we will mirror your trades.

Now I can’t say the same for every provider i guess all are different, and i have heard some horror stories of peoples accounts being closed limited etc. It may happen to me but I'm not there yet. all I can do is trust in the relationship I have with them.
they do provide some indictors etc for traders and I have acted in the past as a tester for them so I hope and trust it works in my favour but time will tell.

as far as making money as you have traded forex, you can make your money on any instrument. the diffs are what margin you need to need trade, what bank size in relation to risk/ reward to amount that you can afford to bet. as you mentioned before you risk 1% of you bank so as long as the rest of the maths work out your good to go.

on the ftse you can take 10pt trades and they can seem to be rather heavy where as 10pips on forex is nothing and trades 24 hrs with the same spread on bid and ask as far as i know. The ftse depending on provider can range from 1pt spread to 3 during market hours on the cash 8:00 - 16:30 then change to up to 6pt spread overnight if they allow extended hours trading. ODL and some other s close at 16:30 and open at 8 with a 2 pt spread all day.

So what I’m trying to say it is relative, for me i trade the ftse because it suits the time I want to trade. I looked and had a ago at forex and found I was getting annoyed that i missed a good move at 2am or 6am , 8pm when i was either asleep, watching TV or socialising. It also boils down to what kind of trader you are? A friend of mine can’t trade intraday it does his head in, he trades more longer term. One of his trades can last weeks or months but he makes money does he make more than me sometimes yes sometimes no. Does he risk more than me? His R/R is the same 2:1 does he risk more per trade in pound notes yes he does.
In that respect Francis is right as you will see from my previous posts I only talk in the amount of points I am making risking losing, But I know you understand that as I said before I believe you are an experienced trader even if it has been only a few months, time and age is not really an issue its about what you have been exposed to in that time and how you handle those experiences.
I spent some time with a new trader going through how I trade what I do etc to get him started, now he’s coming to me saying have you tried this and that have noticed, I tell you what I hadn’t. Anyway going of track.
To sum up can money be made out the ftse YES how much is down to you and to your platform provider. How quickly is a question? Don’t be in too much of a rush to reach the moon there is always tomorrow.
Find a provider you like and ask them the what if questions. Cultivate a relationship with them it might pay you dividends. There is a consensus of opinion that SB’s and brokers are the enemy. They need us as much as we need them so we have to find a balance, so they can win and we can win and of course some are better than others.
I hope this answers you question. A bit more long winded than I wanted but hey.

keith

Okay, thanks Keith, that was really helpful ^^

 

[HaloTrader]

this mornings plan so to speak

Short 4056.1
Target1 4047.6 stop to b/e
Target2 4039.1
Target2 4022.1
Target1 4013.6 stop to b/e
Long 4005.1
providing the setup is right currently long from 4005.1

Why long at 4005? - Current short-term trendline?

-Halo ^^

 

[lapalabra]

closed 4027.5

That was a nice entry Keith - I'm still just marvelling at your entry from market opens...was it just a signal or research that put a floor on 4000 for that entry? I waited too late til mid 4000's and by then felt I didn't have a buffer behind me approaching 4020? Hopefully there'll be an opening later...

And Halo, you're 18? Sheesh, you were not even a teenager yet when me and my mates first completed the very first Halo...feel oooooold....

 

[keithh]

Why long at 4005? - Current short-term trendline?

-Halo ^^

sceptic peg told me it was the right thing to do

the numbers are from my xl sheet. which i think i mentioned on here, might have been somewhere else or a pm.

they can work extremly well but like most things not all of the time. it also helps if it is part of a strategy.

 

[keithh]

That was a nice entry Keith - I'm still just marvelling at your entry from market opens...was it just a signal or research that put a floor on 4000 for that entry? I waited too late til mid 4000's and by then felt I didn't have a buffer behind me approaching 4020? Hopefully there'll be an opening later...

And Halo, you're 18? Sheesh, you were not even a teenager yet when me and my mates first completed the very first Halo...feel oooooold....

gimme gimme gimme a medel

 

[lapalabra]

sceptic peg told me it was the right thing to do

the numbers are from my xl sheet. which i think i mentioned on here, might have been somewhere else or a pm.

they can work extremly well but like most things not all of the time. it also helps if it is part of a strategy.

Put a funky brand name on it, lots of colours and flog it for thousands!

Sceptic Meg...I chuckle every time I see that...don't know why I find that so funny...

 

[Splitlink]

That was a nice entry Keith - I'm still just marvelling at your entry from market opens...was it just a signal or research that put a floor on 4000 for that entry? I waited too late til mid 4000's and by then felt I didn't have a buffer behind me approaching 4020? Hopefully there'll be an opening later...

And Halo, you're 18? Sheesh, you were not even a teenager yet when me and my mates first completed the very first Halo...feel oooooold....

Keith, your signals should have been at Go, then. You have to do them all and take a loss, if there is one. Unless it's a whipsaw and that is not so common at the open.

Split

 

[Splitlink]

That was a nice entry Keith - I'm still just marvelling at your entry from market opens...was it just a signal or research that put a floor on 4000 for that entry? I waited too late til mid 4000's and by then felt I didn't have a buffer behind me approaching 4020? Hopefully there'll be an opening later...

And Halo, you're 18? Sheesh, you were not even a teenager yet when me and my mates first completed the very first Halo...feel oooooold....

lapalabra, your signals should have been at Go, then. You have to do them all and take a loss, if there is one. Unless it's a whipsaw and that is not so common at the open.

Split

 

[keithh]

Keith, your signals should have been at Go, then. You have to do them all and take a loss, if there is one. Unless it's a whipsaw and that is not so common at the open.

Split

Split, Im being thick here i dont quite get it? i think therfore i don't know you say i should have entered at the open, and stayed in longer is that right?

 

[lapalabra]

lapalabra, your signals should have been at Go, then. You have to do them all and take a loss, if there is one. Unless it's a whipsaw and that is not so common at the open.

Split

I had a really, really bad day yesterday - giving back everything I made last week with angry, foolish trading. Not proud of it, and disgusted with myself...its affected my confidence today here, and have decided since you've brought it to my attention that actually I'm not really in a position to trade if I can't follow signals and have no positive expectation of anything, so will watch and post for rest of the day.

Don't really want to go on about it, its over now. Onwards and upwards....

 

[lapalabra]

Split, Im being thick here i dont quite get it? i think therfore i don't know you say i should have entered at the open, and stayed in longer is that right?

He meant me

 

[Splitlink]

Split, Im being thick here i dont quite get it? i think therfore i don't know you say i should have entered at the open, and stayed in longer is that right?

The thick one is me, Keith. I meant lapalabra!

You are doing great. I waited for the pullback at about 0830, which was ok, too.

Unfortunately, I've just taken a loss through jumping the gun. Anticipation got me, there, and that can be dangerous.

 

[keithh]

The thick one is me, Keith. I meant lapalabra!

You are doing great. I waited for the pullback at about 0830, which was ok, too.

Unfortunately, I've just taken a loss through jumping the gun. Anticipation got me, there, and that can be dangerous.

No seriously Im thick.

 

[lapalabra]

No seriously Im thick.

From the look of your trades, Keith, the only thing thick is your wallet!

 

[Splitlink]

I had a really, really bad day yesterday - giving back everything I made last week with angry, foolish trading. Not proud of it, and disgusted with myself...its affected my confidence today here, and have decided since you've brought it to my attention that actually I'm not really in a position to trade if I can't follow signals and have no positive expectation of anything, so will watch and post for rest of the day.

Don't really want to go on about it, its over now. Onwards and upwards....

I've just taken a loss, too. Thought I was looking at an early short entry.

Wrong!

Have you noticed that when you are wrong, the market zips against you at the speed of light? Almost as if it can't believe its luck.

 

[KillPhil08]

short 55 52 49 cash

 

[HaloTrader]

Order for short at 4045.
Stop loss; 4061
£0.29 per point on my £500 account £5 risk.
Target: 4004

I hope i've drawn my trendline correctly. I've already got one loss today, and in my history of trading i've never recovered a loss on the day.