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

[Dentalfloss]

4880

 

[dr.blix]

you mean 4480 dentist?

i wish i could understand those charts!

what's the significance of 4480 (if that is correct)? i ask because my MA is sitting on 4480.

 

[carlos b]

thanks v much ws.. shall get on that and keep an eye..

was wondering if i'm trading very short term intraday on 5 min what overriding time frames would be most beneficial to see what i need to see thats going to affect where i'm at.?

hey db i found this a well re P&F very helpful and interesting..

Online Stock Trading - Point and Figure Charting Part Two

if 4451 sig busted will look at short..


ah which oil market? or the sector as a whole?


sorry for all the q's lads.. got a lot to learn..

 

[Dentalfloss]

YES 4480.
charts are easy to understand in p/f

 

[dr.blix]

i've got 4454 as pretty good res, i'll be looking to short lower than that too carlos.

i'd be happier though with a failed retest of 4460-65

 

[dr.blix]

short 4457

 

[carlos b]

market needs a sat nav

short 4450

hmm nearly stopped out and nealy scratched as well.. bit of a tussle there.. +3

glad to be out of that one..

 

[dr.blix]

stopped out for 10pts, should have taken a few points, but, nevermind. silly to open just before the US open.

 

[dr.blix]

short again 4454 again.

hope we can break 4444.

took 4 points loss (the spread) instead of a few points gain.

that's me out for today, found that i do really bad when US opens anyway. i'll post my chart for today to show how everything was peachy until the DOW opened!

 

[carlos b]

oh no db - sorry to hear that mate

i should have been stopped but the market moved too quickly before i got the amendment in.. so was sitting there with an itchy finger for manual close...nearly bailed about 5 times..

stopped out for 10pts, should have taken a few points, but, nevermind. silly to open just before the US open.

another breakout retracement?

hmm been hovering around oversold for some time as well..

bounced back off my ma20 db..on the 5 min..@ circa 4454 fingers x'd

 

[Geofract]

For those of you looking at freestockcharts.com - SP-500 is working for me, but delayed by 15min - SPY (SPDRs) ETF works realtime, but volume is delayed by about 20 min. UUP dollar index just got hammered.

Gotta do some work now - have a good afternoon all

 

[carlos b]

cheers geo..

where did this move come from - anyone ?

 

[cadoganpier]

afternoon all, had to be out the office today so only been back at my desk for 30 mins hows everyone been doing?.

 

[carlos b]

hi cad.. up and down .... market appears all over the shop..

 

[dr.blix]

well, that was an interesting day. 6 trades = 50/50 good bad calls.

if i cut losses short i could have broke even, difficult though when i have 4 points spread to beat (guaranteed stop loss) with igindex! this is too much i think. plus they regularly open at least a point away from where i select. anyhoo...my chart for today (i know this might be a bit pointless as it's not 2moros analysis, but any comments/criticism would be helpful).

i'm going to try this again 2moro, using geometric lines from the early opening prices, tying them to chart S&R.

appreciate any pointers or thoughts

 

[cadoganpier]

yeah its looking like that just been doing some scary scalping for a few quick points but have just fed the market back all the points I took with the first couple of trades ho hum!

 

[wallstreet1928]

YES 4480.
charts are easy to understand in p/f

good call there Dentist

I am shorting Euro 1.36 ...stop loss 1.363

UUP Dollar index way oversold........historical support around those levels, lets see if it holds!!

Exxon mobil market leader looking very top heavy .........along with a few other stocks!!

I favour the down side at present!!

 

[carlos b]

hey db you got 4 pip sprread?
why dont you go spread betting and get 1 pip spread? tax free if in uk

middle man offering a different price etc and limited execution and tools in relation to trading platforms..., but bit more of a head start on the spread..

 

[fraggermcg]

Arrgh, market is driving me nuts today. Keep using tight stops eg short 4480 a few mins ago on IG Index with a 10 point stop. Immediately stopped out as it spiked to 4493 and then turned as my analysis suggested it would.

But if I use bigger stops it blows up my R:R which I like to have 150% or better. What to do....

 

[cadoganpier]

well, that was an interesting day. 6 trades = 50/50 good bad calls.

if i cut losses short i could have broke even, difficult though when i have 4 points spread to beat (guaranteed stop loss) with igindex! this is too much i think. plus they regularly open at least a point away from where i select. anyhoo...my chart for today (i know this might be a bit pointless as it's not 2moros analysis, but any comments/criticism would be helpful).

i'm going to try this again 2moro, using geometric lines from the early opening prices, tying them to chart S&R.

appreciate any pointers or thoughts

I use a company that only have a one point spread, they dont g'tee stops but I ( touches wood) have never been gapped out of a stop ( yet) under your 4 point spread you gave away 18 points today compared to 6 if you where using a cheaper company, you have got to go some to recover that kind of loss before you even start, its worth calculating how many points you have given IGINDEX over the time you have been trading, I am guessing it would add up to alot more than you are ever likely to be gapped on a stop?.