wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders
- Thread starter wallstreet1928
- Start date
- Watchers 252
- Status
fast trader7
Well-known member
- Messages
- 273
- Likes
- 3
Hello
Here is what i am doing now.I will go long on ftse 4394 before the announcement.
Stop loss 10 point and the target is 10 points!
I am fed up of this slow moving market
Will let you know
Here is what i am doing now.I will go long on ftse 4394 before the announcement.
Stop loss 10 point and the target is 10 points!
I am fed up of this slow moving market
Will let you know
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
I have gone long again post data as the impact was minimal and all variables remain the same
I went long after my stop loss got triggered break even
i am long 4390 ...stop loss 4360
target is 50 MA...4425
I went long after my stop loss got triggered break even
i am long 4390 ...stop loss 4360
target is 50 MA...4425
dr.blix
Senior member
- Messages
- 2,279
- Likes
- 33
if we can get a new bar open on or above 4400 we could be looking at at 2 bar key reversal in the right direction this time.
if not it's just going to be more sideways stuff.
dr.blix
Senior member
- Messages
- 2,279
- Likes
- 33
bearish flag it was.
i might have called that even earlier, but it's first bounce is barely perceptible.
i'm down about -60 pts today. 2 really bad days of bad calls after bad calls.
how bizarre, that i can see certain moves coming up, but ignore my own analysis when it comes to opening a position.
forgive my waffling, but i'm trying to overcome a really big stumbling block with my own personal trading psychology 🙂
kaisen
Established member
- Messages
- 631
- Likes
- 11
Hi WS, I always read your posts with interest. Quick question, are you tempted to go long again at these lower levels given you went long at 4390? Not a suggestion by me but a question.🙂
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
no my friend...........
never add to a losing position unless you have a strategy to buy in lots ......
S&P gap fill 934 will provide tremendous support and keep this market up.........
my only concern like i mentioned is the strength of the dollar
EUR/USD has support at 1.41............
i will try a long there
Last edited:
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
I am long Nasdaq 1470 ...stop loss 1430
target 1500 and above
target 1500 and above
Last edited:
kaisen
Established member
- Messages
- 631
- Likes
- 11
Thanks for your reply.
I suppose what I am looking at is, as it is not easy finding the right entry price, if i go part and then the price moves down, if nothing has changed in the analysis or environment, why if it was a good entry point at the higher price, why is it not an even better deal at a lower second entry price? As the price increases the new deal gets back to break even sooner and you could always sell the second deal to reduce the position. Sorry to take your time with this but I have a real dilema between when to cut losses and when to buy in to benefit from pound cost averaging and make back the money lost or make more money if the deal is followed through.
I would really appreciate your input on this:smart:
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
If I had the time, in other words traded full time then I would certainly adopt the strategy you are referring to and average into my position in order to increase the chances of getting a good entry price.
Once I have averaged into my position i would then amend my stop loss of 25-30 points accordingly
It will certainly improve your entry level
If you trade at £1 a point then i would buy in two 50p lots
I personally trade 3 contracts per trade, so i should ideally if i had the time trade three £1 lots .........
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
wallstreet1928
Legendary member
- Messages
- 6,609
- Likes
- 89
it is good to do that my friend
It was hard to read between the lines today as it was extremely slow
I closed my Nasdaq position with 5 points profit and only did a few trades today
i have also taken a break as i lost a considerable amount of money, sometimes one can develop a state of mind where you lose money and for some reason you keep going on lookign for the pot of gold at the end of the rainbow. ive stopped trading for about 4 weeks not, however i still look at the charts and read the forum everyday, just because you dont trade does not mean you cant learn. It might do you good to taje a step back for a while maybe
LeoE
Active member
- Messages
- 224
- Likes
- 7
Sounds like a good idea to take a break, although don't be put off from trading altogether!
Perhaps take a break from using real money, work on a strategy that you're comfortable with and implement it on paper for a while. Have a read up on various techniques, see whats right for you. I'm still learning and every so often have really bad runs, then I look back over my bad trades and have a eureka moment where I realise what I'm doing wrong. Then a few weeks later ill have another bad run, and then a different eureka moment. I figure that eventually I'll get to a point where I've had all the eureka moments and I stop having bad runs! :clap:
Dentalfloss
Legendary member
- Messages
- 63,404
- Likes
- 3,726
dr.blix
dont be a quitter
put down on this thread what youre setups are.hopefully,we can all chip in and help
how much experience have you had.?
also money management
how much tech analysis do you know.?
I went through this just last week as well DB.
By all means take the break to decide if this is right for you or not - only you can answer this - but don't do it before you've given yourself every opportunity to reaching out to people as Dentist says and maybe getting a fresh perspective.
This isn't the workplace: no bickering colleagues or politics or self-interests. People here are only going to give advice that's honest, open and candid - make good use of it before thinking of throwing in the towel.
You never know, it may be easier to change things around than you think.
Last edited:
- Status
Similar threads
