Best Thread Potential setups

[KillPhil08]

Look at the top left of the pic. And it finance supplies the charts for igindex...(as well as odl iii etx etc etc)


cable 14450 coming up.

 

[KillPhil08]

I kinda want to short, but i'm heading out now. I don't have the balls to leave a position unless there is already some buffer.

eurgbp is a mess anyways.

update.

First setup was worth 50-60points. I don't like the look of this anymore, I think eurgbp reacts to horizontal lines far more successfully than diagonal ones - at least near the end trends anyways...

 

[TheGoose]

any thoughts on gbp/jpy ?

just shorted it for £30 a point on Victor Chamdlers last week of their trading competion
Also their offer of a refund of £500 for any loses is runing out in a few days if anyones interested

Jesus, that sounds like a fantastic offer. I'm going to check out the T's and C's
Also, can't believe you didn't mention a trading competition, I guess you didn't want another **** whipping

 

[KillPhil08]

you cant do it with real money goose. the deal ended 28th february too.

m,argin requirements = max for fx is 300 x stake, indices 200 x stake. (must = equity to place order).

£30 point in real life would have to = 9000 minimum

 

[TheGoose]

Phil,
Those margin requirements don't seem ridiculous, get a credit limit and pay a few k in and it's not too much of a hindrance. Have never traded FX above £30 a point before other than cable. Right now cable is doing my head in so I'm leaving it alone. Also, I'm not elgible for that offer as I had an account with sharespread years ago. Dealer intervention was ridiculous!!

 

[KillPhil08]

Not saying they're ridiculous, I'm just saying if you only wanted to use the bonus amount then you'd find it hard to do £500.

Good idea on the credit limit; never thought of that. Might stick in a k or two then boom or bust it.

 

[trader_dante]

Hi Trader_Dante
Thankyou for sharing your knowledge on here. I have read through your other thread and learnt loads! I've just started trading and am currently in small profit using the free fins £75 offer. I also have taken advantage of the shorts and longs £100 payback offer but notice that it is min £1 per point and the packback expires 2 weeks after you open the account. I presume that you will be looking for a high probability setup which has to have a max risk of £100. I respectfully ask if it would be possible to share which trade you are going to go for using the shorts and longs account which meets the critieria of the time and stops. Sorry if this seems demanding or anything, I really don't mean it like that, I just really want to learn and maximise the probability of getting off to a potentially good start. I understand that there in never any guarantee of making profit but if its not our money anyway then nothing lost!
Many thanks for all your help.

Jimmy mate, apparently you have to make 4 trades to qualify for the cash back. I just realised this. That means ideally, you want to do, say, 4 with a 25 point stop on each. Therefore, if you lose money on the Bund and the S&P alone, I don't think you (we) will qualify for the cashback.

This bund looks like it's gone the wrong way...probably time to cut it and conserve funds.

 

[grimweasel]

4hr Pin on Gold off the 950sr level with fibb'idge. 100pip risk. May get back in here.

Took that gbpyen short for 110 pip. Half pos now closed. Knew that Cable pin would come back and haunt me. Hope a few of you took it for 170 pips from the break of the pin?

 

[chilltrader]

Jimmy mate, apparently you have to make 4 trades to qualify for the cash back. I just realised this. That means ideally, you want to do, say, 4 with a 25 point stop on each. Therefore, if you lose money on the Bund and the S&P alone, I don't think you (we) will qualify for the cashback.

This bund looks like it's gone the wrong way...probably time to cut it and conserve funds.

Tom

Have you completely given off shorting the bund or watching it still?

 

[chilltrader]

BUND Chart.....

 

[grimweasel]

Is it just me or is Eurgbp a complete tw@t to trade. All the MAs point south, nicley stacked in the right order yet the stupid thing goes up??

Cable at strong rest' level now of Weekly Pivot and 14310 level with rising TL from dailys just below at 14260 level.

$Yen not falling, but gbpyen is not happy going up. General £ weakness across the board.

 

[KillPhil08]

It broke the channel....

 

[jimmynoodles]

Jimmy mate, apparently you have to make 4 trades to qualify for the cash back. I just realised this. That means ideally, you want to do, say, 4 with a 25 point stop on each. Therefore, if you lose money on the Bund and the S&P alone, I don't think you (we) will qualify for the cashback.

This bund looks like it's gone the wrong way...probably time to cut it and conserve funds.

Hi T_D,
Thanks for the heads up on how you were playing it. The 4 trades factor isn't an issue for me as I have made more than that whilst trading the FTSE on Monday morning (just ended up breakeven), so basically i'm just looking for 1 or maybe 2 good setups or high prob trades (100 or 50 stops respectively). I jumped in on the reverse head and shoulders pattern on the GBP/JPY a bit late off a 1 hour pin bar but still managed to catch +170 pips so thanks a lot for that Wasp! (this was with my fins account at 10p a point).

Taking into account that the 4 trades isn't an issue are there any other trades that you would consider with this £100? The offer expires for me a week Saturday.

Thanks T_D

 

[Gumping]

It broke the channel....

Yeah that was a nice one

Been hunting that one most of the morning.

 

[KillPhil08]

cable outer trendline aligned with 14250 i think.

 

[KillPhil08]

cable outer trendline aligned with 14250 i think.

what a bounce. 60-44 then 22 to 58 in 1 second, hehe this should be fun.

 

[trader_dante]

How long before new daily lows in the Dow? 30 minutes? No more than an hour or so surely. lol

I think, other than Wheat, this has been the easiest trade, I have ever done. It just doesn't rebound.

Every rally gets caned.

LOL

 

[chilltrader]

How long before new daily lows in the Dow? 30 minutes? No more than an hour or so surely. lol

I think, other than Wheat, this has been the easiest trade, I have ever done. It just doesn't rebound.

Every rally gets caned.

LOL

Sorry what are saying? DOW is southbound more today?

 

[TheGoose]

i'm gonna stick my neck out and say it won't trade a new low today
(but if we do it close on the low, it will be a bloodbath tomorrow)
Personally, i think we will see 7800-8000 by this time next week. Bloody good trade though TD!

 

[elitejets]

GBPCHF hourly

See attached
It has bounced from this price three times
Nicola