Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
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wallstreet1928
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Good morning Dr Blix and everybody else ..........
take it easy my friend
I am still concerned with stop losses people use on this thread
please guys I am just being honest and I don't want to upset anyone but some people really need to have wider stop losses
Honestly it really hurts me when i see you chaps say you have hit your stop losses, especially when it is -6 ......
because we are rookies and still learning our margin for error needs to be bigger, hence a wider stop loss
please chaps think about it
I just think one must have at least a minimum 15-20 stop loss
as your results and timing improves then one can certainly have a smaller stop loss
rather than trading a £1 a point..........try going down to 50p/20p a point and widen your stop loss
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sunnie deeelite!!
sorry aftertiming but was busy.. long at 4368 tp 4374 sl 4358 +5
had another winner earlier but wont post as too late..
wallstreet1928
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I am now short FTSE 4370 ...stop loss 4400
target 4325-4330
target 4325-4330
dr.blix
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it's def right what you're saying WS, and thanks for taking the time to point these thing out to beginners like me.
i use a 10pt stop, i know i should start using bigger stops though.
-6 pts wasn't a stop, i had shorted at 4355, thinking that level would act as res as we appeared to be in a down trend. i closed it manually when i realised i'd just gambled and not traded!
thanks again for the guidance though WS
i use a 10pt stop, i know i should start using bigger stops though.
-6 pts wasn't a stop, i had shorted at 4355, thinking that level would act as res as we appeared to be in a down trend. i closed it manually when i realised i'd just gambled and not traded!
thanks again for the guidance though WS
karlandree
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Made 30 point overnight but cant find an entry point today. Have no idea where this is going. Mining companies looking good so far but this could go any direction. Any ideas?
thanks ws.. yes i agree .. lol poss pips achievable if i'd wrung all out of the trades i've made and stayed in and used 20 pip SL would be +394 in 4 days.. oh where to get off the bus tho.. that's is the question..time & education wil tell hopefully
i am still finding my feet with what methods out of my protfolio work and which dont.. so far a couple appear to be doing ok.. the others i may bin..
i'll see what the stats say in due course as i log every single trade and the possible pips achievable during the trade and the liabality at lowest point of trade.
in the meantime i'll keep playing safe and nicking 3+ pips if i can to build the bank and then i'll hopefully be trading with other people's money..so the RR from there on is massively positive providing i'm consistent going forward
i am still finding my feet with what methods out of my protfolio work and which dont.. so far a couple appear to be doing ok.. the others i may bin..
i'll see what the stats say in due course as i log every single trade and the possible pips achievable during the trade and the liabality at lowest point of trade.
in the meantime i'll keep playing safe and nicking 3+ pips if i can to build the bank and then i'll hopefully be trading with other people's money..so the RR from there on is massively positive providing i'm consistent going forward
mr blix ... you should def go to another SB co imo.. most will do 2 spread on demo's which is tough enough in itself.. if i had to overcome 4+ spread i'm sure i would become very disheartend in time if i were purely losing out on close calls due to the spread and not my decison making.
wallstreet1928
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That is another point i would like to mention as well chaps
The example quoted above is another exampleof letting your profits run
I always amend my position to break even when my trade is 10-15 in profit and let it run, or sometimes because I trade with 3 contracts I take 1 contract at 10 points profit depending on the risk of the trade.
Always let your profits run chaps
once you have amended your position to break even then you have taken all risk out of the trade
dr.blix
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i hear u carlos, tried to open an account with iii, but they knocked me back!
probably because i didn't fill the form out properly...i don't like giving out ridiculous amounts of personal information, over the internet...to betting companies!
no point continuing as is though.
btw, we've just broken upside of a triangle i had formed. i have ftse beginning sideways.
probably because i didn't fill the form out properly...i don't like giving out ridiculous amounts of personal information, over the internet...to betting companies!
no point continuing as is though.
btw, we've just broken upside of a triangle i had formed. i have ftse beginning sideways.
I totally agrre with WS, its all about managing your positions. Look for a a trade on your charts place the trade with a decent stop. Picture a target in mind. Then manage the position.
Dr Bilx, I am testing a spreadbet firm that does a 1 point spread on the daily FTSE, ie. its currently trading at 4370 - 4371. not sure who you use but a 4 point spread is very big.
col bud.. just wnat you to succeed.
seriously i have nowt to to do with Cpaital Spreads.. but you can open a demo just by email details etc 2 pips spread.... nothing else as is with Paddy Power or others..
you're at an unnecssary disadvantage imo at the mo
seriously i have nowt to to do with Cpaital Spreads.. but you can open a demo just by email details etc 2 pips spread.... nothing else as is with Paddy Power or others..
you're at an unnecssary disadvantage imo at the mo
dr.blix
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not that i want to sound 'chicken' or anything, but why are we shorting an obvious up trend?
my stop is 4380, i'm feeling i should have taken a few points when it rebounded up off my 21MA (4363). 125MA is in an up too.
so everyone short has a lot of faith in 4373-6?
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