swingin' the ftse: 2008

[STRTRADA]

I'm using it to trade the Dow Jones, and Dow jones as we all know is a good predictor of where the FTSE is headed?

So true... I feel after yesterday's strong climb the FTSE needs a good deal of rest also stochas on 10 min and 30 min are showing signs of overbuying so who knows
I mean at least I profited on the up but now I think we will see the downfall maybe....

P.S don't forget US GDP data comes out in about 20 minutes or so

 

[trigger]

Well thats 4 failed attempts to break resistance set by 21/10 at 4352, lets see if we get a close below 4271

Be Well
Steve

 

[wallstreet1928]

yes trigger its failed again at 4352?

are you short and how many points are you taking profits at?

i'm usually happy with between 50-100?

 

[trigger]

yes trigger its failed again at 4352?

are you short and how many points are you taking profits at?

i'm usually happy with between 50-100?

Hi Wallstreet
I trade index options and am now short at 4300, i position trade now as daytrading was getting too stressful!
I usually now take a longer term view and wait for a run up or down to run out of steam so i cant really give a figure on points, though it has been far more profitable doing it this way for me, takes more patience but at least im not glued to the screen for 8 hours a day:clap:

Be Well

Steve

 

[tomorton]

This game's never dull.

30/10 made a putative swing high, but only just above the previous, 21/10. With such a minor gain and with the last swing low 27/10 being clearly lower than the previous 16/10, I am not ready to abandon the downtrend, so am still short, and slighlty in the black, and would be happy to reinforce the short if we breach yesterday's low.

 

[trigger]

This game's never dull.

30/10 made a putative swing high, but only just above the previous, 21/10. With such a minor gain and with the last swing low 27/10 being clearly lower than the previous 16/10, I am not ready to abandon the downtrend, so am still short, and slighlty in the black, and would be happy to reinforce the short if we breach yesterday's low.

Hi tom
Well we have just gone through the high of 28/10 at 4228 so its a clear run as i see it to 4198, there seems to be good momentum

Be Well
steve

 

[wallstreet1928]

All the tradational defensive sectors are on the rise today, health, pharmaceuticals and Defence. Banking sector, Mobile, retail , Oil and construction sectors all pointing down which is a good signal to stay short ..........

I opened a short at 4300 with a stop at 4275 just in case any wild swing upwards.......and its a Friday which usually means sell into weekend!!!

any other theories or strategies, your more than welcome to put forward and will be studied

 

[wallstreet1928]

i have taken my profit at 4200 ..............im happy with £200??

how about yourself trigger and tomorton?

 

[trigger]

i have taken my profit at 4200 ..............im happy with £200??

how about yourself trigger and tomorton?

I will hold on, i feel there is more down to come, options are not like SB they dont move penny per point due to deltas and volatility etc

steve

 

[tomorton]

Holding on to my shorts (what an image!) - always like to see 100pts gain per winner and having moved my stop to almost B/E am happy to wait and see how the US futures affect us later this am.

Off work today and looking back over intra-day tick charts for opening range breakout signals / opportunities on the FTSE. Its not swing trading I know but can't ignore the shorter time frame if proifitable opportunities and some statistics might cross-fertilise my swing decisions.

 

[trigger]

i have taken my profit at 4200 ..............im happy with £200??

how about yourself trigger and tomorton?

£200 is cool
The way i look at it, £200 is a whole weeks wages to some people, and to make that in one quick trade is very nice, no matter what i make i think of what i would have to do in my normal work to earn that and it makes me feel grateful that i got into this arena

Be Well
Steve

 

[STRTRADA]

I might go long in the enxt 10-15mins anyone agree there might be a buying session....

 

[trigger]

And now im off to work
Good luck you guys :clover:

Steve

 

[trigger]

Back now and out with 52 points with 5 contracts

 

[tomorton]

Stopped out of short with tiny profit only. Doh!

Will get in short again if US shows weak late this pm, especially if Nas confirms 30/10 as swing high, the Dow and S&P not showing classic 3-day rally pattern for Rivalland-style swingers right now.

 

[barjon]

Whilst I continue not to trust the swings in this volatile climate (happier working intraday still) it's perhaps worth recording that we have a change of swing trend to UP. First confirmation will come if 4534 goes.

The very bold will have gone long around 4346. The more cautious await the first 3 bar correction. Me? I'll be sticking with intraday for now.

good trading

jon

 

[tomorton]

We do indeed have UP showing, confirmed by both Dow and Nas (but S&P still hesitant). Friday ended an outside day in this sharp little upswing, and I ended up closing the short yesterday pm at the stop in the face of the late strong FTSE finish backed up by the US. Have a long position in FTSE, already well towards target, and happy to hold this over weekend for probable follow-through upwards Monday.

Aside: This is all jolly good fun but I still can't understand why I'm not as wealthy as Auric Goldfinger.

 

[wallstreet1928]

well done tomorton you were right and i was wrong with my analysis.........

I was thinking of shorting at 4350 but wanted it to fall to 4325- 4300 before i had confirmation of down trend but the FTSE suprisingly was on fire and kept rallying......and I just sat back and watched it rally?!!

but it wont last?

so its broken through 1 week resistance of 4350 suprisingly, and now it has to break through 1 month resistance of 4400 with 4500 being the peak?

I will be trying a short anywhere above 4400 with stop loss of 4525? should be able to scalp 50- 100 points again?

 

[wallstreet1928]

not much data out of the UK on Monday, just:

UK HBOS Plc House Prices s.a. (MoM) (OCT)
UK HBOS House Price (3MoY) (OCT)
9:30 AM GMT UK Purchasing Manager Index Manufacturing (OCT)

and all the above will be negative anyway

US data

US Domestic Vehicle Sales (OCT)
US Total Vehicle Sales (OCT)
8:45 AM GMT US Fed's Lacker Speaks on Monetary Policy in Israel
3:00 PM GMT US ISM Manufacturing (OCT)
3:00 PM GMT US ISM Prices Paid (OCT)
3:00 PM GMT US Construction Spending (MoM) (SEP)

All the above will be negative as well, so no reason to be long really unless you have any other theories

Dow Jones seems to have broken 9250 but I am not convinced yet untill we see a few good follow through days, so i will be shorting it as well at 9500 for 50- 100 point gain.....

any other ideas welcome before the games begin on Monday?

 

[barjon]

ftse has traded strong against dow all week and with dow up a couple of hundred after ftse close it (ftse) should make another push higher on Monday assuming a quiet week-end.

imo anyway

jon