Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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Outa my gourd
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Dr B, why don't you change your company? 4 on the FTSE is high. Capital Spreads is only 1 on the FTSE. I think if you get referred, you get £70 too (don't quote me on that one though).
I used to have a 4 point spread on the FTSE with Barclays Spread Trading (could it be the slowest/unreliable platform ever?! - some might say) until I came to my senses . Max should be 2 point spread, 1 point spread preferable. I don't know how achievable the 1 point spread is with companies that advertise this.
Position closed +/- 0 points
Do you have to pay for that Camarilla service you use Carlos?
wallstreet1928
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What will this Index Do?
1 yr, daily
will we surpass 4520 ...........and reach 4630 - 4680!!
Banks need to be stronger in order for it go any higher in my book
not to mention the FED speaking later on ..........uncertainty!
the only thing of concern is the US dollar............now that could really ignite things on the upside!!
I will try a crazy short later on with a stop loss of 4700!!
1 yr, daily
will we surpass 4520 ...........and reach 4630 - 4680!!
Banks need to be stronger in order for it go any higher in my book
not to mention the FED speaking later on ..........uncertainty!
the only thing of concern is the US dollar............now that could really ignite things on the upside!!
I will try a crazy short later on with a stop loss of 4700!!
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dr.blix
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yeah chaps (omg, carlos) that spread is a bit much...basically, i'm on a beginners account with igindex. this dictates a guaranteed SL, but at a wider spread.
it's only a practice account, so my positions are usually below £1 pp. i'm hoping it's actually going to have the effect of conditioning me to make sure i only open positions that have a very healthy RR ratio (otherwise i get scrwed by my own spread!). then when i get into larger positions, i won't be trying to just scalp.
on a side note, i'd be wary of igindex. they closed a position of mine earlier today when the stop wasn't breached. had a stop of 4484, went to close it manually at 4485.3 and the system had already closed it. checked the tick data and it didn't go further than 4484.8 (and that was a huge spike suspiciously removed from the main price action)...so always double check your tick data i think, if you feel you've had a close call.
i'm going to phone them now, i imagine they'll say something like, 'well it's within enough range to close it blah, blah, blah...
it's only a practice account, so my positions are usually below £1 pp. i'm hoping it's actually going to have the effect of conditioning me to make sure i only open positions that have a very healthy RR ratio (otherwise i get scrwed by my own spread!). then when i get into larger positions, i won't be trying to just scalp.
on a side note, i'd be wary of igindex. they closed a position of mine earlier today when the stop wasn't breached. had a stop of 4484, went to close it manually at 4485.3 and the system had already closed it. checked the tick data and it didn't go further than 4484.8 (and that was a huge spike suspiciously removed from the main price action)...so always double check your tick data i think, if you feel you've had a close call.
i'm going to phone them now, i imagine they'll say something like, 'well it's within enough range to close it blah, blah, blah...
SuddenDeath
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there is a formula which calculates the "risk of ruin" it takes into account spread win probability, win loss ratio, its pretty neat, it shows the optimum level of bet based on your % success rate. I found it in "education of a speculator" Victor Niederhoffer.
Any views on the fact that yesterday dow's range was 75pts
Any views on the fact that yesterday dow's range was 75pts
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Outa my gourd
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I bet it's to do with the spread. It happens to me once in a blue moon. Someone tried to explain it to me on the Capital Spreads thread (it's fairly recent if you want to skip over there and check it out).
I still say you're getting shafted with a 4pt spread. You can learn discipline without having to line IG's pockets. They would only open the guaranteed sl account for me too - and looking around, I don't think we're the only ones. Nice earner for them
cadoganpier
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Dr B, I use Capital Spreads and everytime I have had a query they have been good as gold, their site hung when I was trying to close a position and I wound up losing £160 between when I tried to close and when it finally let me, without to much agro they refunded me. The only thing I would say is that their ticket price and their charts sometimes lag (usually chart behind) so be careful to check if you try them.
wallstreet1928
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there are too many variable at play today, its making my mind go doo lally
I might have to sit on the sidelines
oil data
FOMC
us dollar
and they are all inter-related .........you have to be a mathematician to work out where the market is going today?
cadoganpier
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any ideas why the sudden dump?.
cadoganpier
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I am going long at 4467
wallstreet1928
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banks are weak today ........
Eur/usd...............
gbp/usd .............. keep an eye on both these currencies, if they go down the market will go down!!
closed 1/2 of position for + 10 points
bennie - here you go bud.. its just one of many pivot based analysis out there.... there are ways to trade these pivots if you google, but i just tend to use them as pint of reference and poss res/support..
just enter the values for yesterday and today's open and that's it..
gl
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