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

[dr.blix]

Could you explain to me what pivot points are? Never heard of them! What sort of £pp do you generall go for?

Btw I wasn't scorning or scoffing at the trades you have been initiating, actually quite jealous as i'm not authorised to scalp, have to bloody wait for big trades (very annoying on days like this)! What time frame do you use for the trades? I assume you use divergence for short term trades?

ooh, are you a bona fide institutional trader then trace?

plz stick around and keep us newbies (which is just me on here really) in line :cheesy:

 

[dr.blix]

i gave all my points away today...i'm now at -3 pts after being up 57 pts this week.

poop.

 

[10pips]

Carlos,

Depends on the individuals way of trading, I would personally just have the pivot points on my chart, a simple chart gives you a simple decision to make. I'll post a chart tommorow as a live trade and show you how I take my trades.

 

[kaisen]

Carlos,

Depends on the individuals way of trading, I would personally just have the pivot points on my chart, a simple chart gives you a simple decision to make. I'll post a chart tommorow as a live trade and show you how I take my trades.

I´ll look forward to that!

 

[SuddenDeath]

anyone here use sharescope ?

 

[kaisen]

anyone here use sharescope ?

Hi SD, dont use sharescope but one of the stockbrokers i get a daily "signal" from seems to use sc. Dont know whether that helps!?!:whistling

 

[kaisen]

Indicators!

Is it me or do alot of indicators tell you where you have just been or where you are!?! And also can send conflicting messages?

I have been looking at Keltner Channels today which suggests buying when the price closes above the top channel! But the RSI seems uncomfortably high when this happens!

Also if I look back along todays charts, certainly for the DOW, trading like this would not have been pretty!

Thoughts anyone?

 

[wallstreet1928]

"Market participants are awaiting a $35 billion auction of three-year U.S. Treasury notes later in the day and auctions of 10-year and 30-year U.S. Treasurys later in the week to get a better picture of rate expectations."

any idea what time it is chaps?

 

[dr.blix]

Is it me or do alot of indicators tell you where you have just been or where you are!?! And also can send conflicting messages?

I have been looking at Keltner Channels today which suggests buying when the price closes above the top channel! But the RSI seems uncomfortably high when this happens!

Also if I look back along todays charts, certainly for the DOW, trading like this would not have been pretty!

Thoughts anyone?

there's a simple rule when using momentum indicators kaisen.

if you're using them in their simplest form i.e. waiting for them reaching the oversold/overbought end of their spectrum, then you must ignore that simple overbought signal in a strong up trend and ignore the oversold signal in a strong down trend.

some people advise 3 non correlating indicators, one momentum, one volume based indicator and one sentiment based indicator.

 

[kaisen]

there's a simple rule when using momentum indicators kaisen.

if you're using them in their simplest form i.e. waiting for them reaching the oversold/overbought end of their spectrum, then you must ignore that simple overbought signal in a strong up trend and ignore the oversold signal in a strong down trend.

some people advise 3 non correlating indicators, one momentum, one volume based indicator and one sentiment based indicator.

Thnx, I will see if i can find a source which separates each out into these catergories and look to find a cocktail i like!:smart:

You keeping a trading journal B?

 

[wallstreet1928]

Is it me or do alot of indicators tell you where you have just been or where you are!?! And also can send conflicting messages?

I have been looking at Keltner Channels today which suggests buying when the price closes above the top channel! But the RSI seems uncomfortably high when this happens!

Also if I look back along todays charts, certainly for the DOW, trading like this would not have been pretty!

Thoughts anyone?

I don't use any indicators ...........

waste of time as they stay in oversold/overbought condition for a long time and not good for scalping

They maybe better for longer TF .....

there are too many, which one do you use ...........

keep it simple

its just my opinion !!

GEOMETRIC trend line analysis rules................

no conflicting signals............monkey see, monkey do!!

 

[traceyjc]

Yeah Blix I work for a stockbroking firm as a prop trader, only 3months in and before I was a theoretical physicist so i'm really quite new to all of this! What about yourself? Are you just giving apread betting a go or are you looking to keep it going?

As for indicators, My main ones are slow stochastics and rsi for 15min charts, I use ichimoku clouds for support/resistance. I've tried the keltner channels before and didn't like them all that much, I found they were quite like bollinger bands in the way that you get a signal but it can hug it all the way up!MA's are also good for gauging where the market is.

BTW if anyone doesnt know, for all US macro-data thats important is posted on the nasdaq calnder site with expected numbers and so on:
U.S. Economic Calendar

 

[lapalabra]

I don't use any indicators ...........

waste of time as they stay in oversold/overbought condition for a long time and not good for scalping

They maybe better for longer TF .....

there are too many, which one do you use ...........

keep it simple

its just my opinion !!

GEOMETRIC trend line analysis rules................

no conflicting signals............monkey see, monkey do!!

Hear, hear.

If indicators are so great why there are hundreds of them?

I do know traders that trade longer term and have a few select ones they watch for divergences, but for intraday they can all go to room 101.

 

[kaisen]

I don't use any indicators ...........

waste of time as they stay in oversold/overbought condition for a long time and not good for scalping

They maybe better for longer TF .....

there are too many, which one do you use ...........

keep it simple

its just my opinion !!

GEOMETRIC trend line analysis rules................

no conflicting signals............monkey see, monkey do!!

Thanks ws. an experienced stock broker i have done some deals with is in the same camp. From my point of view i am just looking into everything and as there are so many i am trying to short cut a bit.

As i posted the other day sometimes you can look to deep and miss what is happening!

Do you just look at S/R and make a call with what is going on?

All the best

By the way, as i respect your opinion, as a newbie, where would you suggest i focus my study time instead of indicators?:smart:

 

[kaisen]

Hear, hear.

If indicators are so great why there are hundreds of them?

I do know traders that trade longer term and have a few select ones they watch for divergences, but for intraday they can all go to room 101.

Howdy doody Lapa, thanks for that. Sounds like i dont have to become too geeky then!

Not really my style!

 

[kaisen]

Yeah Blix I work for a stockbroking firm as a prop trader, only 3months in and before I was a theoretical physicist so i'm really quite new to all of this! What about yourself? Are you just giving apread betting a go or are you looking to keep it going?

As for indicators, My main ones are slow stochastics and rsi for 15min charts, I use ichimoku clouds for support/resistance. I've tried the keltner channels before and didn't like them all that much, I found they were quite like bollinger bands in the way that you get a signal but it can hug it all the way up!MA's are also good for gauging where the market is.

BTW if anyone doesnt know, for all US macro-data thats important is posted on the nasdaq calnder site with expected numbers and so on:
U.S. Economic Calendar

Thanks for the input Tracey! I didnt think firms would be taking on in this climate! Best of luck with all that. Maybe you can throw us some insider info now and again?
Non theoretically speaking.

 

[francisfinley]

hi all,


blix havent answered your Q yet but i think till the FTSE gets out of this nonsense then i can pass judgement... you cant really say much but analyse it day to day as to where it finishes!!

have been doing forex instead.

as for indicators, they are not a shortcut to success. the only one that really works is a moving average. keep it simple, its like support and resistance draw a line in the sand if it goes above it buy it if below sell. it really is that simple.

 

[kaisen]

hi all,


blix havent answered your Q yet but i think till the FTSE gets out of this nonsense then i can pass judgement... you cant really say much but analyse it day to day as to where it finishes!!

have been doing forex instead.

as for indicators, they are not a shortcut to success. the only one that really works is a moving average. keep it simple, its like support and resistance draw a line in the sand if it goes above it buy it if below sell. it really is that simple.

Liking your input! Do you personally just use SMA - if so 20,50 and 200? or EMA 100?

Thanks in advance!

 

[dr.blix]

GEOMETRIC trend line analysis rules................

ooh that's interesting WS. i found using geometric lines really interesting, but come 2.30 they usually went to pot.

i used 45 degree angles for a week once (8.00 - 2.30) and they seemed to fit as a general guide really well.

what i've found now is that strong moves leave 'echoes', or like ripples on a pond...you can latch lines onto these important events and then copy them over and over as the echoes of the event fades.

 

[francisfinley]

Liking your input! Do you personally just use SMA - if so 20,50 and 200? or EMA 100?

Thanks in advance!

Hey kaisen,

Did i read you are a prop trader 3 months in?

how does that work? are you in one of the arcades or another firm training you up?

you will find that you need to test all the different types of averages with crossovers within different timeframes. you will settle of something and then change it!! write a journal of what your system is, there is a trading plan template on this site somewhere.

You can pretty much throw all indicators out of the window intraday and just use them during the weekly analysis.

the big boys look at the 50 and 200's short terms flip down

you can have variants that use 5, 8, 9, 13, 20, 21, 34, 50, 55, 144, 200, 233.

Some of those are fibonacci numbers. im not telling which ones i use!! have a play.