Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[Trader1UK]

im short snp 863.1 for a quick scalp

 

[Trader1UK]

im short snp 863.1 for a quick scalp

Locked in 1 point.. letting it run hopefully.

 

[Trader1UK]

Locked in 1 point.. letting it run hopefully.

Stop hit +10, im short again

 

[rezadamus]

Stop hit +10, im short again[/QUOTE

Id wait for the reversal to occur, and short at a retracement it is a strong reveral...thats just my humble opinion...the markets love to deceive punter with false turns, and a lot of people end up with burnt fingers because of it...

 

[Trader1UK]

Stop hit +10, im short again

SL hit -20

 

[Trader1UK]

Stop hit +10, im short again[/QUOTE

Id wait for the reversal to occur, and short at a retracement it is a strong reveral...thats just my humble opinion...the markets love to deceive punter with false turns, and a lot of people end up with burnt fingers because of it...

ow too late... i was already in... Nevermind, next trade....
Thanks Reza

 

[rezadamus]

i think it will drop now and bounce off the 20MA
but i wont take it because its not in line with my analysis

 

[bennie83]

what chart set up do you use Rez in terms of time-frames, MAs etc?

 

[rezadamus]

what chart set up do you use Rez in terms of time-frames, MAs etc?

mainly use the 10min chart for my short term analysis, 1hr and daily(rarely) for long term. The MA are all exponential...i use the 8, 20 and 200...I use RSI 21 and stochastic (14 2 4), Bollinger Bands and i look for fib retracements...and finally I use Parabolic SAR...these all compliment other trend analysis...i.e. flags etc etc...i NEVER use elliot wave analysis because the counts are too subjective and hardly ever clear.

 

[bennie83]

mainly use the 10min chart for my short term analysis, 1hr and daily(rarely) for long term. The MA are all exponential...i use the 8, 20 and 200...I use RSI 21 and stochastic (14 2 4), Bollinger Bands and i look for fib retracements...and finally I use Parabolic SAR...these all compliment other trend analysis...i.e. flags etc etc...i NEVER use elliot wave analysis because the counts are too subjective and hardly ever clear.

Yeah, I use RSI (14) AND MA 50 & 100. I've tried using Parab SAR, but can't find a god acceleration ratio. The default is 0.02, but doesn't seem that great. Do you know of a better setting? Also, are the 10 min charts good for trade entry points? Or is a smaller time frame more precise?

 

[rezadamus]

i think it will drop now and bounce off the 20MA
but i wont take it because its not in line with my analysis

and behold...its dropping...but i won't short, again, it doesnt fit with my system

 

[rezadamus]

Yeah, I use RSI (14) AND MA 50 & 100. I've tried using Parab SAR, but can't find a god acceleration ratio. The default is 0.02, but doesn't seem that great. Do you know of a better setting? Also, are the 10 min charts good for trade entry points? Or is a smaller time frame more precise?

i actually posted an earlier question regarding the SAR optimum points, but nothing has really come up...im still researching it...trial and error is the best answer Iv got so far...

i used to trade using 5 minute charts but it often gave very premature signals. iv been getting better results using 10 minutes. But the best time frames are ones few people use, 7 minues, 12 minutes...the timeframes that you dont get in normal charting packages...with trading, you need to be in the 98th percentile of the trading population to make anything of this trading game. Hope that answer wasnt too ambigious and boring!

 

[francisfinley]

bumper week reza! do you trade full time?

 

[rezadamus]

bumper week reza! do you trade full time?

thanks- nope, although i follow the markets as much as I follow premiership football!

 

[francisfinley]

thanks- nope, although i follow the markets as much as I follow premiership football!

where do you work then reza i cant concentrate enough at work!

 

[dr.blix]

short spx 866.7

ditched it at 867...i must stop trying to guess the swing

 

[dr.blix]

if anyones not busy could you explain outside and inside bars plz?!

 

[SuddenDeath]

Inside bar, is where the bar has a lower high and higher low than previous bar

Outside bar is where a bar has a higher high ad lower low than previous bar

 

[dr.blix]

Inside bar, is where the bar has a lower high and higher low than previous bar

Outside bar is where a bar has a higher high ad lower low than previous bar

i know mate! sorry, i should have been clearer...i meant what does it signify?

lowering momentum?

higher volatility?

a reversal if it's accompanied by volume signals?

edit:

omg, how many awful calls can i make, my timing sux...i'm just gambling...somebody shoot me.

 

[bennie83]

i actually posted an earlier question regarding the SAR optimum points, but nothing has really come up...im still researching it...trial and error is the best answer Iv got so far...

i used to trade using 5 minute charts but it often gave very premature signals. iv been getting better results using 10 minutes. But the best time frames are ones few people use, 7 minues, 12 minutes...the timeframes that you dont get in normal charting packages...with trading, you need to be in the 98th percentile of the trading population to make anything of this trading game. Hope that answer wasnt too ambigious and boring!

Cheers Rez, I guess its about what works for the individual. Still thinking about a short on FTSE?