Moneymakingmachine
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Looks like it's opening lower 
Mr Flibble
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I'm looking for a long position on the FTSE which was fairly bullish yesterday until the yanks got twitchy. Expect more twists and turns but when we are taking money off each other who dares sometimes wins. I do have a TA rationale for all the above but its more of a hunch.
Moneymakingmachine
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ooh nice, it shoots up overnight :clap:
Hopefully it will close higher lol
I'm happy with my position at the moment, if the FTSE does fall then the damage shouldn't be too bad because of my Capita group sell, which is still in decent profit considering the recent gains.
Good Luck !
Update: FTSE Making new intraday highs, I'm just going to sit on my positions now and see how far i can take them. The question is, is the correction now over ? I'm also half expecting this price to drop back down to 5080/5070 . . . .
Update 2: Current positions:
3i group: -1.3p
Anglo American: +120p
Antofagasta: +17p
BHP Billiton: +77p
Barclays: +7p
Cairn energy: -1.4p
Capita group: + 27p
Lonmin: +37p
Marks n spencer: +3.7p
Rio tinto: +146p
Sage group: - 1.2p
Xstrata: +31p
Total: +461.8 . . . . Loverly
Update 3: FTSE finally stopped pissing about and made a decent break, hopefully it will continue, about a 68% chance of it hitting 5200 before the end of the week (5160 as i write) according to my buddy who day trades the index. Not quite sure how he comes up with those figures though :s
Update4: If the FTSE does what it did yesterday before the bell, then i will be pissed lol.
Final Update: FTSE Closes at 5194, Closed out my 3i trade 1p lower than the price i bought at. I think i'm up around 500p now overall, and averaging 45p per stock. i'm still holding on to my Capita group sell which is still in a decent profit and hasn't really reacted to the recent upward movement. Also, i don't really want to be 100% long in this market and it is a decent hedge in case of further declines.
Good Luck !
Hopefully it will close higher lol
I'm happy with my position at the moment, if the FTSE does fall then the damage shouldn't be too bad because of my Capita group sell, which is still in decent profit considering the recent gains.
Good Luck !
Update: FTSE Making new intraday highs, I'm just going to sit on my positions now and see how far i can take them. The question is, is the correction now over ? I'm also half expecting this price to drop back down to 5080/5070 . . . .
Update 2: Current positions:
3i group: -1.3p
Anglo American: +120p
Antofagasta: +17p
BHP Billiton: +77p
Barclays: +7p
Cairn energy: -1.4p
Capita group: + 27p
Lonmin: +37p
Marks n spencer: +3.7p
Rio tinto: +146p
Sage group: - 1.2p
Xstrata: +31p
Total: +461.8 . . . . Loverly
Update 3: FTSE finally stopped pissing about and made a decent break, hopefully it will continue, about a 68% chance of it hitting 5200 before the end of the week (5160 as i write) according to my buddy who day trades the index. Not quite sure how he comes up with those figures though :s
Update4: If the FTSE does what it did yesterday before the bell, then i will be pissed lol.
Final Update: FTSE Closes at 5194, Closed out my 3i trade 1p lower than the price i bought at. I think i'm up around 500p now overall, and averaging 45p per stock. i'm still holding on to my Capita group sell which is still in a decent profit and hasn't really reacted to the recent upward movement. Also, i don't really want to be 100% long in this market and it is a decent hedge in case of further declines.
Good Luck !
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Moneymakingmachine
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Alot of so called 'experts' on bloomberg and the like, are saying that the correction aint over just yet. People seem to be waiting for it to go up before they believe it. I'm taking the view that we are currently in an accumulation phase in this market now. If we can break 5200, then 5300, that's when people will believe it. Don't get me wrong, i can't see this market shooting up, it looks like it will be a struggle, but i think that there is a much better chance of an upward move % wise.
I'll stay long for now, if the market does decline further then i'm covered with a decent short on Capita, and i'll probably close a few longs and get short on a few more stocks while the market is pissing about.
I'll stay long for now, if the market does decline further then i'm covered with a decent short on Capita, and i'll probably close a few longs and get short on a few more stocks while the market is pissing about.
Yesterday's bullish candlestick opened a possible 80-20 daytrade today, but I won't be sucked into this short today unless we breach 5196 and consolidate below.
The gap from 25/05 to 26/05 remains unfilled so breach of 4985 today or Tuesday, but not later, would also signal a short opportunity.
I remain long on the abandoned baby/morning doji star.
The gap from 25/05 to 26/05 remains unfilled so breach of 4985 today or Tuesday, but not later, would also signal a short opportunity.
I remain long on the abandoned baby/morning doji star.
Moneymakingmachine
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I'm staying long myself, but i'm expecting a retracement today, possibly to 5180.
Just got out of Capita as well, for 14p profit. So i'm long quite aggressively now, but i have decent profit to lean on. It's starting to look like a double threes correction in forming, but i'm probably wrong, i've only recently started studying elliot - If someone can correct me ?
Cheers
Update: People get the wrong idea about this game sometimes, i'm so bored. I'm reading a book for fecks sake.
Just got out of Capita as well, for 14p profit. So i'm long quite aggressively now, but i have decent profit to lean on. It's starting to look like a double threes correction in forming, but i'm probably wrong, i've only recently started studying elliot - If someone can correct me ?
Cheers
Update: People get the wrong idea about this game sometimes, i'm so bored. I'm reading a book for fecks sake.
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Hi M - Boredom's been a rela danger for me at times when I had unlimited screen time - too much temptation to overtrade. Then I found an Orange texting service that bleeped my phone when the FTSE moved through a level I had texted in - allowed me to get away from screen temptation but not miss key points. (Now with Vodafone and they don't offer this last time I checked.) Could be worth some research.
Moneymakingmachine
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Tomorton,
Cheers for that bud, i'll take a look. No danger of me overtrading though, i'm bored because i'm sitting on my positions now until i feel the time has come to exit. So basically, if the market rallies now for the next few days, i'll be sat about bored. I'll make money, but i'll be bored . . . .
Thanks again mate
Update:
Current positions:
Anglo American +162p
Antofagasta + 31p
BHP Billiton +82p
Barclays +8p
Cairn energy +10p
Lonmin +55p
Marks and spencer +15p
Rio tinto +200p
Sage group +3p
Xstrata +61p
Total = +627p
Average = 62.7p increase per stock
Cheers for that bud, i'll take a look. No danger of me overtrading though, i'm bored because i'm sitting on my positions now until i feel the time has come to exit. So basically, if the market rallies now for the next few days, i'll be sat about bored. I'll make money, but i'll be bored . . . .
Thanks again mate
Update:
Current positions:
Anglo American +162p
Antofagasta + 31p
BHP Billiton +82p
Barclays +8p
Cairn energy +10p
Lonmin +55p
Marks and spencer +15p
Rio tinto +200p
Sage group +3p
Xstrata +61p
Total = +627p
Average = 62.7p increase per stock
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Weak price action and low close today not too bullish at all. Gap up at open and such a low close suggest possibility of a whiplash short at the close tonight, though I am waiting for the US to confirm direction this evening before actually entering short. Today also forms a putative swing high, which would allow all a further short re-entering the downtrend.
(closed long this pm)
(closed long this pm)
Moneymakingmachine
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Yep, pretty week day but i was expecting it to be honest. It didn't retrace as far as i predicted (5180) during UK Hours, but after the close it managed it. I agree that todays movement doesn't exactly look bullish, but i also think It's not filling me with bearism. I'm 50/50 as to where the market will go short term now, but 60/40 where the market is going long term.
Short-term, 50/50 sums it up. For a new swing trade entry on Tuesday, conventional 3-day correction rules would say direction would have to be short, but only if price stays below 5241 and breaches 5186. If Tuesday breaches 5241, or if neither 5241 nor 5186 is breached, long positions or cash could be maintained through to Wednesday.
Of course, I like to have fun with other patterns also - the whiplash has already given a sell signal, which the weak US close supports, but I missed entry earlier tonight before the SB platform closed for the weekend. Therefore have a sell order in a little way below current price to get me in if we drop from here.
Of course, I like to have fun with other patterns also - the whiplash has already given a sell signal, which the weak US close supports, but I missed entry earlier tonight before the SB platform closed for the weekend. Therefore have a sell order in a little way below current price to get me in if we drop from here.
barjon
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Hi guys
I've been a bit remiss in not keeping the swing picture going so I thought I'd review where we've been over the last few months.
You will recall that the swing trend changed to UP on 18 February with the first retracement and long signal shown in the white circle 1 with a continuation long shown in circle 2. I'd point up that neither of these retracements were "pure" in the sense that they encompassed both lower lows and lower highs but they were worth a shot.
The swing trend changed to DOWN on 27 April when most would have exited any longs even if they had not regarded the circle 2 swing low as "true". The bold would have promptly gone short here. The new downtrend was confirmed by the break of the circle 1 swing low (if any was needed by this stage).
The first swing high in the new downtrend gave a sell signal at around 5378 - white circle 3 - and Friday's action resulted in a second potential swing high which may give a continuation short signal and entry around 5180.
I hope that's got us up to date.
Oh, by the way, bear in mind that I'm using prorealtime charts here which do not recognise opening gaps.
good trading
jon
I've been a bit remiss in not keeping the swing picture going so I thought I'd review where we've been over the last few months.
You will recall that the swing trend changed to UP on 18 February with the first retracement and long signal shown in the white circle 1 with a continuation long shown in circle 2. I'd point up that neither of these retracements were "pure" in the sense that they encompassed both lower lows and lower highs but they were worth a shot.
The swing trend changed to DOWN on 27 April when most would have exited any longs even if they had not regarded the circle 2 swing low as "true". The bold would have promptly gone short here. The new downtrend was confirmed by the break of the circle 1 swing low (if any was needed by this stage).
The first swing high in the new downtrend gave a sell signal at around 5378 - white circle 3 - and Friday's action resulted in a second potential swing high which may give a continuation short signal and entry around 5180.
I hope that's got us up to date.
Oh, by the way, bear in mind that I'm using prorealtime charts here which do not recognise opening gaps.
good trading
jon
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Moneymakingmachine
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lol, i'm not in the best position here am i
lol, i'm not in the best position here am i
There's nothing certain about next week or any week, but I try to regard counter-trend positions as short sharp raids into hostile territory - rewarding but risky - get in, hit the target, get out fast.
In raiding and plundering, be like fire - Sun Tzu
sasquatch317
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Hi
Does anyone know of an EOD signalling service based on swing trading that I can subscribe to? Am pretty much a newbie with limited time I can devote to trading and would like to follow an expert before I go full fledged into this
Does anyone know of an EOD signalling service based on swing trading that I can subscribe to? Am pretty much a newbie with limited time I can devote to trading and would like to follow an expert before I go full fledged into this
Hi sasquatch - you're already here.
Although I feel uneasy when I see commercial signalling services on offer without an informational element attached. Would you not feel uneasy driving blindfolded and just following left / right / brake / accelerate instructions from a passenger? Here you'll be able to learn how to swing trade, and the actual trading needn't take hours of screen-watching.
Although I feel uneasy when I see commercial signalling services on offer without an informational element attached. Would you not feel uneasy driving blindfolded and just following left / right / brake / accelerate instructions from a passenger? Here you'll be able to learn how to swing trade, and the actual trading needn't take hours of screen-watching.
Mr Flibble
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I called a long a couple of days ago simply because I saw the a few positive signs in the FTSE. Now I don't see anything to change that as of yet. We only retraced a very small percentage on Friday as the DOW went down fast the FTSE was a lot more positive. For Tuesday I have no clue whatsoever and am just listening to some of you chaps to get a few ideas. I trust the UK traders to be bullish but after 1:00pm anything goes as the American markets are full of fear right now.
I remember the huge move down a few weeks back and how Bloomberg were trying to calm people down saying it was a technical issue. I didn't believe that for a minute. Some big wigs perhaps got wind of the unemployment figures and that coupled with the images of rioters from Greece caused quite a scare.
If I continue to go against the grain I will run out of luck very soon I'm sure. The trend never was my friend though.
I remember the huge move down a few weeks back and how Bloomberg were trying to calm people down saying it was a technical issue. I didn't believe that for a minute. Some big wigs perhaps got wind of the unemployment figures and that coupled with the images of rioters from Greece caused quite a scare.
If I continue to go against the grain I will run out of luck very soon I'm sure. The trend never was my friend though.
