swingin' the ftse: 2008

[black bear]

It Can Get Very Very Much Worse

sorry mate, mis understood, tho my plan on that bad trade was to just let it run, it couldnt get any worse really, so i can concentrate on intraday instead, i know the mistakes i made and WILL NOT be making them agian i can assure you

It can and will one day get very very much worse

Sort it out today. HARD STOP on every trade max you want to lose in one trade imho

you have unlimited liability its up to you how much loss you take, your broker and the market does not care how much it takes

well perhaps not with the vehicle you are using, not sure how it works exactly :?:


sorry to preach its just important and this is the moment

RIGHT NOW, I am watching the same thing you are and its your moment

Sort that put trade out = PLAN from this second, nothing thats happened yesterday matters at all


ARE YOU HAPPPY TO BE IN NOW

 

[trigger]

It can and will one day get very very much worse

Sort it out today. HARD STOP on every trade max you want to lose in one trade imho

you have unlimited liability its up to you how much loss you take, your broker and the market does not care how much it takes

well perhaps not with the vehicle you are using, not sure how it works exactly :?:


sorry to preach its just important and this is the moment

RIGHT NOW, I am watching the same thing you are and its your moment

Sort that put trade out = PLAN from this second, nothing thats happened yesterday matters at all


ARE YOU HAPPPY TO BE IN NOW

Andy you are damn right!
Im not happy one bit about this trade ive been a burk letting it slip, taken on board your sound advice and will excite this trade shortly, currently at a 3k loss, i took a trade and got lazy amateur mistake and will close out as got to go back to work and start again monday intraday!
thanks andy

steve

 

[trigger]

It can and will one day get very very much worse

Sort it out today. HARD STOP on every trade max you want to lose in one trade imho

you have unlimited liability its up to you how much loss you take, your broker and the market does not care how much it takes

well perhaps not with the vehicle you are using, not sure how it works exactly :?:


sorry to preach its just important and this is the moment

RIGHT NOW, I am watching the same thing you are and its your moment

Sort that put trade out = PLAN from this second, nothing thats happened yesterday matters at all


ARE YOU HAPPPY TO BE IN NOW

loss is limited to the cost of the contracts, strictly limited risk
steve

 

[black bear]

Dont look back in anger

Andy you are damn right!
Im not happy one bit about this trade ive been a burk letting it slip, taken on board your sound advice and will excite this trade shortly, currently at a 3k loss, i took a trade and got lazy amateur mistake and will close out as got to go back to work and start again monday intraday!
thanks andy

steve

Hi Steve

Dont look back in anger

Think its a wise choice mate, you have taken control of you and that is all you can control.

Whatever happens next is very important, sods law says the ftse will tank on the Dow open and that trade in 3 hours will be a winner, sort of salt in wound

The next tick is unknown by anybody alive

Your job is to trade your plan and the opportunities based on YOUR experience.

If you had closed out quick when expectations had not been realised some days back your mind would have moved forward and perhaps seen the new opportunity that the market as offered.

Easier said than done in the moment I now and none of us are perfect so we just have to do the best we can imho

It is important you now Forget it, if there is work to be done with your plan etc now is an excellent time to start.

The market if it does crash later does not no you and is not taking the p..ss,your broker does not care, he is not watching you, no one cares except

YOU !

I missed important snooker shot after important snooker shot for years because of above 10 yrs it took to realise why

Good trading Steve and all the best :clover:

 

[datav]

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do. Most people always have to be playing; they always have to be doing something. They can't just sit there and wait for something new to develop. I wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. Even people who lose money in the market say, 'I just lost my money, now I have to do something to make it back.' No, you don't. You should sit there until you find something.

-- Jim Rogers[/QUOTE]

thats one of the best quotes I've seen in a long while

 

[trigger]

Hi Steve

Dont look back in anger

Think its a wise choice mate, you have taken control of you and that is all you can control.

Whatever happens next is very important, sods law says the ftse will tank on the Dow open and that trade in 3 hours will be a winner, sort of salt in wound

The next tick is unknown by anybody alive

Your job is to trade your plan and the opportunities based on YOUR experience.

If you had closed out quick when expectations had not been realised some days back your mind would have moved forward and perhaps seen the new opportunity that the market as offered.

Easier said than done in the moment I now and none of us are perfect so we just have to do the best we can imho

It is important you now Forget it, if there is work to be done with your plan etc now is an excellent time to start.

The market if it does crash later does not no you and is not taking the p..ss,your broker does not care, he is not watching you, no one cares except

YOU !

I missed important snooker shot after important snooker shot for years because of above 10 yrs it took to realise why

Good trading Steve and all the best :clover:

Hi Andy

I closed that trade and feel its the best thing ive done this last week, clear to trade again:clap:

Took a loss but its gone now, can get back to daytrading proper and leave the overnight trades to those that can handle the stress

Will be back on the screen monday wiser tho a little poorer lol

thanks mate

steve

 

[tomorton]

well done steve. live to fight another day.
there are many ways to win this game but the sure way to lose is to get knocked out. money management keeps you in the game long enough so you an find one of those winning ways.

I have closed my short for good result. Loking forward to chance to get back in short by 8 Monday.

 

[tomorton]

PS: Another topical reason for not staying short through the weekend, as the text books say you should - what do we think are the odds of the Fed making another Sunday night market intervention?

 

[trigger]

PS: Another topical reason for not staying short through the weekend, as the text books say you should - what do we think are the odds of the Fed making another Sunday night market intervention?

True!
They have mentioned 'big plans' to counter the crisis, so you could well be right, im just glad im out now and preparing for a good week

 

[barjon]

mmm, the 6000 attackers got into the outer courtyard on Monday but the old hot oil did its stuff and they retreated to outside the ramparts today. Pretty resilient though and no sign of a route as yet. Nonetheless I'm short.

good trading

jon

.....and had two more goes until the cauldron of GE boiling oil sent them off squealing.

More seriously, after the failed signal (circled) - although I doubt many would have been tempted into a trade - we moved onward and upward to poke above the key 6000 level. This gave a potential swing high and a short triggered Tuesday at around 5974. There would be plenty more than 3 bar swingers jumping in here and it was a bit worrying that there was no immediate retreat, as was the fast Thursday recovery. The bad news from GE on Friday finally spooked the US (one could build a neat conspiracy theory here after the spectacular DOW "V" reversal on Thursday) and ftse followed suit.

I see no problem holding short across the week-end since ftse would have to open around 80 higher to reach b/e stop or some 125 if you haven't moved your stop yet. As it turned out the DOW was down another 100 odd points after ftse close, so lower opening of 40 - 50 points is on the cards (bit wise after the event that bit, I know ).

good trading

jon

 

[trigger]

Nice short and long in the first hour but choppy as hell after that, or should i say long and short.... anyone manage to trade through the day?

 

[pelzar]

Anyone else think we could see a big rally in the FTSE this morning?

 

[mrpunter]

Anyone else think we could see a big rally in the FTSE this morning?

well finspreads must agree with you cos they've just jumped up over 30 points!
cpi figures at 9:30 might have a bearing......
good luck!

 

[tomorton]

Big rally? I was unsure of a rise or a fall but a large move was always likely after yesterday's ranging, so I had buy and sell orders outside range. Initial spike triggered the long. I hope 5831 is far enough away that it will hold so I can add to position when US shows its hand this pm.

Strictly speaking, I would admit long here is not a swing trade according to Rivalland, as Friday printed a swing high at 6016.3 (Sharescope) and we had only one down day since. Though a short was indicated yesterday from 5866 that doesn't feel right when you see the recent FTSE candlesticks and oversold US indices. It would probably be prudent to be in cash and waiting for more clarity.

 

[tomorton]

PS: If I am wrong I will be scaling out.

 

[trigger]

Big rally? I was unsure of a rise or a fall but a large move was always likely after yesterday's ranging, so I had buy and sell orders outside range. Initial spike triggered the long. I hope 5831 is far enough away that it will hold so I can add to position when US shows its hand this pm.

Strictly speaking, I would admit long here is not a swing trade according to Rivalland, as Friday printed a swing high at 6016.3 (Sharescope) and we had only one down day since. Though a short was indicated yesterday from 5866 that doesn't feel right when you see the recent FTSE candlesticks and oversold US indices. It would probably be prudent to be in cash and waiting for more clarity.

Same here, just sitting on sidelines, it just doesnt feel right so far

 

[tomorton]

Nice move up. Decided not to enlarge the position but to bank the proceeds and re-assess later.

 

[trigger]

Nice move up. Decided not to enlarge the position but to bank the proceeds and re-assess later.

That was a great move up....just got in from work and missed it lol

 

[sul2soul]

very strange day for indices today!

Really dont understand why the dow/s&p are kicking down now.

S

 

[tomorton]

Flat at present, FTSE swing trend not sufficiently clear for me. The Dow and S&P are clearer and I will go long on one or other if they breach their 15/04 highs and their 15/04 lows hold.

However, as this is the FTSE thread, there are 3 possible trades on the FTSE, depending on action near the close. If I'm not in the Dow, I might take one or other of these (valid for today only) -

if Close <5931 (today's Open) and <50% of today's range, go short at Close (Whiplash)
if Low <5906 (yesterday's close) and Close >5944 (yesterday's High), go long at Close (Key Reversal)
High is already >5944, so if Close <5864 (yesterday's Low), go short at Close (Key Reversal).

Of course, a swing buy signal from the Dow would negate the short entries. In any case, the Dow and S&P are 2-3% down already from their last swing high, so a short on the FTSE would be just a momentum trade and would possibly run into a severe bounce.

No trade without a stop in the plan. No plan, no trade.