swingin' the ftse: 2008

[Splitlink]

Thanks Split - you surprise me but I won't say closing a FTSE swing trade within each day is a bad thing. It does cut profits from the Rivalland method but it also reduces risk. Plus, it uses the UK's advantage of the FTSE laggng the Dow: in effect we get the London am action telegraphed to us from New York every night, so why not use it to our advantage? I suspect a bet on the FTSE's pm action is generally a bet on the Dow, in which case, the advantage is neutralised. Hmmmmm..... I may like to try this.

Yes, well, necessity is the mother of invention. You have to adapt to what is available to you and my hours are limited. That is not a bad thing, either, because I am not the type that likes to walk away from open positions and, if I was trading all day I would have to be watching the screen. That's ok for a professional but, for an amateur like me, a few hours per day is quite enough.

The SP is different, though. It's a slow mover, out of hours, and I don't take it very seriously. If I've made money by lunch time, the profit becomes my breakeven stop level, otherwise I close it.

Split

 

[black bear]

Telegraph Sam

:?:

Thanks Split - you surprise me but I won't say closing a FTSE swing trade within each day is a bad thing. It does cut profits from the Rivalland method but it also reduces risk. Plus, it uses the UK's advantage of the FTSE laggng the Dow: in effect we get the London am action telegraphed to us from New York every night, so why not use it to our advantage? I suspect a bet on the FTSE's pm action is generally a bet on the Dow, in which case, the advantage is neutralised. Hmmmmm..... I may like to try this.

Hi Tomorton

bad luck with long swing last week Tomorton


Wow !

"it uses the UK's advantage of the FTSE laggng the Dow: in effect we get the London am action telegraphed to us from New York every night, so why not use it to our advantage?"


2. sounds very good, errrrrrrrrrr bit like that film the Sting and the telegraph office delayed prices.

Q: who trades the dow fut in the am:?: and .......... well you can finish off, sure you can see the problem with that assumption or thinking.

I am off to watch a film, micky mouse I think the lad said it was called :cheesy:

trade well all next week, should be good, noticed a few of the main bits of ftse look to be finding support and good charts on a few of the banks etc we will see :clover:

 

[tomorton]

Hi Andy -

All I know is I am consistently making money by anticipating the FTSE correction in early trade to re-balance its closing level with the Dow's closing level. In fact, sometimes that correction is demonstrated in the spreadbetting markets before the 8am open, allowing me to hit my profit target and get out before 8.

 

[timsk]

FTSE Week 9

Status: BULLISH (but only just)
Resistance: 6100
Support: 5700
The red support line remains unchanged on the P&F chart, but the bloo resistance line moves up to 6100 to reflect the mid week bullish move. Overall, the chart is still bullish - but only just. The current pattern is a double bottom, so a move down sufficient to fill just one more box with a red 'O' will see the chart reverting to bearish mode. As with the last few weeks, there is a bundle of minor support between 5775 and 5875, but the key zone is around 5700. As can be seen on the chart, this week's price action saw the breach of the bearish resistance line dating back to December last year and the horizontal bloo resistance line marked at 6050 on last week's chart. From the lows at the start of the month, there is a general drift higher (I hesitate to use the T word), indicating that the bulls are just about managing to soak up the selling pressure from the bears. All of which is mildly encouraging for them, but hardly exciting. However, their real test will be if they can hold support around the current 5850-5875 zone. If they can't, the small gains over the last few weeks will amount to nothing. The chart resembles a rather dull Six Nations rugby match in which one side is marginally ahead of the other in terms of possession and territory, but never really look like they're going to score a try. Cue an explosive move up!

Tim.

 

[black bear]

Pinkpig returns from the darkside of the moon

Hi all

nice chart and report as per usual tim, agree its hard to call if your in the calling business, could do with a good telegraph service :cheesy:

just a joke tomorton, read your post last night, and it just read so fool proof I just had to pop, could not help myself, complete breakdown in discipline again

sure you do very ok in the am/open period

dow 4 hr chart shows range up nice imho so enclosed,

Lloyds tsb and Barclays for a change, sick of looking at ftse charts :-0

Both have a printed pinbar last week(bear) on what looks like normal pullback days so ... take your pick

 

[tomorton]

A good bit of work Tim.

Cheers Andy, a gracious and amusing e-mail as ever. We're clearly both enthusiasts: I am inclined to take the game over-seriously. Have a good week, I have some travelling to do for business starting out shortly so around only intermittently.

 

[barjon]

Potential swing low from Friday with an entry around 5987 if it travels that way (with another telescope stop, split ). Be surprised if tomorrow's open is not off around 40 points from Friday's close which would take it below Friday's low (but keep your eye on the US futures you guys who are using the dow close as a guide).

Also be surprised if anyone's still in the original long trade after the trip above 6000 last week, when stops would (should) have been moved up to around that key level.

good trading

jon

 

[ceydababy]

Any of you guys interested in doing some LIVE CALL FTSE Trading ?? By live calls I mean entries posted with STOP's within 1 minute of taking the position. Exits posted within a minute too.

T/F unimportant, just a willingness to post as LIVE as possible. Don't worry about lurkers copying trades, that side of things is pretty well monitored.

Let me know

 

[black bear]

my entry monday

Any of you guys interested in doing some LIVE CALL FTSE Trading ?? By live calls I mean entries posted with STOP's within 1 minute of taking the position. Exits posted within a minute too.

T/F unimportant, just a willingness to post as LIVE as possible. Don't worry about lurkers copying trades, that side of things is pretty well monitored.

Let me know

hi ceydababy

Not for me thanks

to busy to do it live, and T2W site very slow some days.

Here it is in advance, copy away


I will sell or Buy pullback to ftse week low on monday, breach of 15 min low or high is trigger as per usual (2pts). ( 3 indians if Short just in case ) 1 for 15 min tf 1 for hr tf & 1 to see how far he can go in daddy tf till end of week if it gets a good run on day one that is.

If a gap up I will sell 1st weakness 15 min tf if I get chance at local judged R,(1 indian / target the wk low and have a look there to see what happens, because I am told anything can and usually does:whistling) if down I will wait for pull back for entry, if no pullback I will go and walk the dogs on the beach in piccy and get myself some breakfast and coffeeeeee "s:cheesy:.

IF long 1 indian only intra day tf in out in out in out, and be very twitchy with tight stops.

straight line off wk low, marked red on charts.

Stop will be low or high of entry bar or 25 pts over hours if I like location, entry bar usually 12-15 pts in 15 mins, a little greater of late

trade well all next week :clover:

 

[black bear]

walk and trades no go

well trades a little go,

gap = no go for me = couple of good scalps, one cut short a couple of bars to quick or I could have called it something else

se la vi

waiting and watchng

was going to go for walk but ............piccy is todays view, so not so inviting

 

[Splitlink]

well trades a little go,

gap = no go for me = couple of good scalps, one cut short a couple of bars to quick or I could have called it something else

se la vi

waiting and watchng

was going to go for walk but ............piccy is todays view, so not so inviting

Hi Andy,

I've taken 19 on two trades. A 3rd with SP, that I was hoping to keep on until tonight, disappointed--about 3 points down.

It's dull here, too, although warmer. Still no rain.

Split

 

[black bear]

Hi Andy,

I've taken 19 on two trades. A 3rd with SP, that I was hoping to keep on until tonight, disappointed--about 3 points down.

It's dull here, too, although warmer. Still no rain.

Split

hi Split

hope everything well your end

10 more then me, well done

no stress so should not moan, so won"t :clap:

thought ah ah we might close gap then I might get a little short before dinner I could hold for well at least 15 mins

just a thought regards long entries last week, only usually an observer and intra daying so you very brave real swingers can put me straight

noticed that ftse trended to 6000+ twice last week and rejected intra day

might help with your entries if you have a peek at Cac and dax before you decide =

both failed to trend in morning as per ftse and put in double tops instead before backing off sharp at pm session, add to that the dow had an earlier gap to fill and also failed to hit swing target by a few points as per rivailand method.

sure you noticed but just a passing thought,

calling it a day, ftse just escaped OHR and it looks a waiting game unless of course your long off S

oooooooooooooooooooooooooooooooh hang on = gone

 

[Splitlink]

I would have made more on my second trade but I was slow in taking profits and I let most of it get away.

I watch SP, mostly. It follows FT well . This morning I got in too late and, out of hours, it does not move much. So I closed out with a small loss. If I can get a few points profit on that, I let it run until just before the close.

 

[black bear]

I would have made more on my second trade but I was slow in taking profits and I let most of it get away.

I watch SP, mostly. It follows FT well . This morning I got in too late and, out of hours, it does not move much. So I closed out with a small loss. If I can get a few points profit on that, I let it run until just before the close.

Split

flap over, they were just fishing for shorts errrrrrrrr I think

ye I remember you saying a bit back, it must suit you, must be 6 months = a market you like


SP = must ask broker to put it in my machine, he no"s what I am like so only gives me what I ask him for or he no"s I will spend the week p..ssing about making him no com

take care, thats me really done for today = Zig & Zag on T of ohr then a big up bar if the dow twitchs

 

[black bear]

sorry day early as per usual

hi ceydababy

Not for me thanks

to busy to do it live, and T2W site very slow some days.

Here it is in advance, copy away


I will sell or Buy pullback to ftse week low on monday, breach of 15 min low or high is trigger as per usual (2pts). ( 3 indians if Short just in case ) 1 for 15 min tf 1 for hr tf & 1 to see how far he can go in daddy tf till end of week if it gets a good run on day one that is.

If a gap up I will sell 1st weakness 15 min tf if I get chance at local judged R,(1 indian / target the wk low and have a look there to see what happens, because I am told anything can and usually does:whistling) if down I will wait for pull back for entry, if no pullback I will go and walk the dogs on the beach in piccy and get myself some breakfast and coffeeeeee "s:cheesy:.

IF long 1 indian only intra day tf in out in out in out, and be very twitchy with tight stops.

straight line off wk low, marked red on charts.

Stop will be low or high of entry bar or 25 pts over hours if I like location, entry bar usually 12-15 pts in 15 mins, a little greater of late

trade well all next week :clover:

just for you Split

A PinkPig setup

oh and a good beach, will check if the last ones survived when I get back, he might even want company later in the week, who nows :?:

anything can happen:clap:

 

[black bear]

Next stop ...............Mars

have FUN ............:clover:

 

[Splitlink]

just for you Split

A PinkPig setup

oh and a good beach, will check if the last ones survived when I get back, he might even want company later in the week, who nows :?:

anything can happen:clap:

Missed the fun this morning, Andy, I had to go out. Made a few points when I got back but nothing to shout about

Glad that you had a good time. :clap:

 

[black bear]

cheers Split

Missed the fun this morning, Andy, I had to go out. Made a few points when I got back but nothing to shout about

Glad that you had a good time. :clap:

cheers Split

next time for you, you have had plenty for sure, prices have been running up and down trendlines for weeks

after the dow close tonight that last indian might get killed am tomorrow me thinks

bought Dow heavy off S, ftse the same, (days/4 hrs) could be a big shake but (last hour).......... But it might not so........

I am not giving any back, don"t believe that the only good indian is a dead one, I like to use them again I will learn to run them later

trade well & stay :clover:

 

[black bear]

Higher timeframe or no that is the question

Thought I had better make a effort to actually swing trade something if I am going to lurk around on this thread, only seems fair, never no I might get used to it.

Bit miffed I got stopped out with last indian for a few points @ BE on ftse the other day, was going to re-enter but busy with proper account = in out in out in out in out, all worked out in the end

Long Lloyds TSB from 06/03/08 with 4 indians (June contact) 1st target the last swing high top of channel

Small stakes account to try EOD/longer time frames proper. See if I can get used to the longer timeframe and not be thinking about it till the EOD. (problem in the past)

Stop is a close outside the Trend line day bar.
entry was made in the hrs at or between 30-60 % pull back zone (breach of an hrs high after the pdh had gone sort of = June gap opened higher on the day.

Lloyds TSB ex div and accounts out of the way and a bit of rumour of something about, made HH HL in short time frame (days) and pretty much 2000 prices so...

none or very little sub-prime exposure

down side is the ftse index, but traded strong today given the bad day so ..see how it gets on.

did nearly close it 1st thing today (cash outside its trendline but june in.) Waited for ftse to make its 1st up move and finish its open hours range first and so kept trade on, went into profit then backed off a little into the close.

Just noted the Dows given in, so trendline/stop might be busted monday if there is blood early doors.

 

[timsk]

FTSE Week 10

The current pattern is a double bottom, so a move down sufficient to fill just one more box with a red 'O' will see the chart reverting to bearish mode. . . . However, their real test [bulls] will be if they can hold support around the current 5850-5875 zone. If they can't, the small gains over the last few weeks will amount to nothing.

Status: BEARISH
Resistance: 5850
Support: 5700 (See text)

And 'nothing' looks like being the order of the day. The falls at the start of the week triggered the double bottom sell signal referred to above and the P&F chart switched to being bearish. The small positive for the bulls at the time was that price appeared to find support just above the critical 5700 level. Their relief was short lived. I've left the red support line at 5700 (where it's been for the last three weeks) for two reasons. Firstly, I don't know where else to re-draw it other than at 5350, marking the January lows. Secondly, and this is the main reason, is for dramatic effect. Look at that solitary red 'O' poking its head beneath the red line! Is it a false signal that will see the short sellers piling in and the bulls closing out their long positions? Or is it the real deal, the demon that signals a waterfall to who knows where? The bar chart makes for more comforting viewing with the close siting bang on the 5700 level. It gives the (false???) impression that the index dipped its toe in the murky depths that lie below 5700, wasn't impressed and quickly retreated. Regardless of the chart one looks at, it's clear that the index is at a significant juncture and a major move up or down could have a considerable impact on all our lives.