hi grey i must be doing something right as i too predicted that sell off.............anyway did FIBBO and VEGAS profit from spreadbetting or IB?
jason
hi grey i must be doing something right as i too predicted that sell off.............anyway did FIBBO and VEGAS profit from spreadbetting or IB?
jason
Grey1
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Only I SB yesterday with around £2000 profit as seen from the entry and exit.
The market sell off after initial rally was simply a classic TA and I would be surprised if people did not realise that there would be a sell off. From the SB trades as you can see I traded the open and then waited for the fed before I SHORTED DOW.. We basket traded 15 stocks at the same time that i opened a pos on DOW cash . The basked went into profit immediately and my guys both has a smile on their face lol
Grey1
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Glenn
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Hi Jason
Take a 5 period simple moving average of it.
Which software are you using? Most packages have the tools for producing the macci, but won't have the macci itself.
Glenn
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yes thanks i've added the ma 5, do i follow this ma5 as it is slower or the cci 6 line or both?.................im just using the igindex charts on IT Finance, are these ok?
Does anyone else see this potential ghost pattern on the dow right now?
grey how can you say you don't reccommend SB when you like just took £4500 out of this market in 2 days!
jason
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Grey1
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SB trading is not suitable for most day traders as the odds of success is low.. I recommend Direct access stock trading than SB.
Grey1
ok thanks for the advice....................But grey the strategy i outlined in my first post was for rolling cash bets, swing 1-3 days SB picking the smallest time frame for entry when all timeframes are ob and using the daily indu macci for exit when it reaches os.............i'm not talking of intra-day SB trading that you are doing and posting, im talking only swings..........can this work or does the same apply to swing spreadbetting on the rolling cash bets that it is just too risky and we are best to stick to basket trading with stocks instead?
jason
jason
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Glenn
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Erm no, I meant that you take a 5 period moving average of the CCI, not of the price.
I doubt you can do that with igindex, but I don't know what tools they offer.
Glenn
yes i know what you meant, I know im from essex but im not that stupid, lol......thanks for your help by the way.
anyhow i've decided enough of this now, im subscribing to tradestation today, gonna get the tools to see if i can add myself to that elite group of vegas and fibbo who are successful, gonna give it my best shot and is there any other guys out there serious enough for the challenge? who maybe want to get together in skype or something kind of like trading partners, i know this works down the gym as me and my gym partner help each other to focus on our goals.................... but from what i can see on this tt forum so far it seems pretty dead probably cos everyone is at work, com on guys are you serious about this or not? make the commitment, it works for grey?, why are we so different if it is all here on this bb we can figure it out together?...............FIBBO and VEGAS took the gamble and it has paid off for them and judging from their earlier posts they were no different to me on greys methods, so com on guys i feel alone here, are you gonna make an attempt to do this or not?....................is any one here on tt in a position like me that wants to go full time now on this kind of trading, if so maybe we can chat in skype at 1pm daily if you wish to discuss cnbc....im not looking for a mentor by the way i have have my own vision on strategy 3, i mainly want to focus on the swings to begin with and not move onto the day trading until the swings are consistently profitable, also i may be of use to someone as a trading partner as i have no baggage or beliefs so easier for me to share ideas with and im willing to start a fresh where as other trading partners may have conflicting views, im dead serious by the way, i just hope there are others who are too......... What do u say, any offers or do we continue to dream on?
By the way i have $30k to start with and can afford to lose the lot and very willing to lose the lot in order to get this thing off the ground
jason
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Glenn
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Only just spotted your post.
Same here Grey1, short of 10 stocks from Weak list after 8 pm last night and well in profit on all of them.
Muchas Gracias.
Glenn
Grey1,
can you explain your thoughts here.
i would have thought the the rate cut would have put you in non-technical mode. why do you say ''simply a classic TA''
do you still look for TA set ups on non-TA days?
Glen
grey is it a must that i get radar screen with my subscription in your opinion?
cos i was thinking i could just get my own short list for the next trading day every night after market closes from your weak list by selecting stocks on the weak list that are overbought on their daily charts, so if i do this no need for radar screen do you think?, cos obviously starting up i need to keep my costs as low as possible. I do have 3 monitors so should have the space, what do you think, your advise is appreciated.
jason
cos i was thinking i could just get my own short list for the next trading day every night after market closes from your weak list by selecting stocks on the weak list that are overbought on their daily charts, so if i do this no need for radar screen do you think?, cos obviously starting up i need to keep my costs as low as possible. I do have 3 monitors so should have the space, what do you think, your advise is appreciated.
jason
Glenn
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Update. Had to decide whether to reverse, cover or hedge. Hedged with Ftse futs and later with YM futs. Overall up on the day but stocks are down. Interesting day. 12700 important level.
Wonder how the 'main men' got on ?
Glenn
Grey1
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Glen,
It was a non technical day with a MAJOR news on The BOND insurer which fueled the market ,, All three portfolios down today but that is 100% fine,, We are in weak stocks which means the losses to day should be relatively small compare to our future gains later,, We should stay in the trade and not close any of them till they all break down .
We made good money yesterday but to day was un expected but things should be much better from MONDAY on wards
This is the normal behavior of a growth portfolio ,,,
grey1
Glenn
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Well yes, tomorow will be interesting too from a news perspective.
Shorts still open but I won't leave them naked.
Glenn
Hi Glen,
can you explain the advantage of hedgeing these positions vrs closing them and re-opening them
thanks
glen
Glenn
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Hi Glen
Well this is only my opinion for a start.
It's easier for me to hedge with one instrument than it is to close 10 and then have to decide when to re-open them individually.
I'm used to trading futures (including getting it wrong of course) and that may not suit other people.
But I think I should not say any more, because I don't want to confuse what Grey1 is doing to demonstrate his strats. I only posted originally to show that someone else was taking positions from the weak list, and then again because I had to deal with what happened yesterday one way or another, and I assumed people would be wondering about that.
My sincere apologies to Grey1 and everyone if I have caused any confusion.
Glenn
Paul, do u mind telling me why exactly this is?.......................i know there is alot of stocks on the weak list but my thinking was to only short list stocks that were overbought on their daily charts the night before, also by selecting two stocks in each sector this really narrows down my stock selection for the next day...............so far if im right does this not mean i couldn't just have all the short listed stocks charts and macci's on my screens?, cos then all i really need to watch would be the indu 1,5,10 min and their macci's then go to stock. Please clarify as i feel im really close to understanding strategy 3 now.
I don't think it would take too much of my time to go through the whole weak list at the end of each trading day, but im probably wrong
jason
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does anyone know what tradestation are like as a brokerage?.................the reason i ask is because you can get their platform for free every month if you do some many round turns, to be honest though i have heard not good things about them in the past...........................so can i get away with tradestation or would the professional choice be IB?
jason
jason
