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

[fraggermcg]

FTSE getting squeezed into a triangle between the 50 and 20 MAs. Lot of inside bars lining up on the 10min chart now. Hoping for a break downwards myself, but 4320 is a tough nut to crack.

 

[francisfinley]

right dont open any large long positions that clearly shows - a break out from a triangle would normally go nuts.

a cup and handle would go nuts.

it hasnt. double diamond top stylee. obviously all these traders have done their weekend analysis!

this sucker staying down!

 

[dr.blix]

hahah...i've done it again.

closed another perfectly good long position.

2 losses that if i'd have just left them do their thing would have been gains.

"i have seen the enemy, and it is me..."

 

[francisfinley]

hahah...i've done it again.

closed another perfectly good long position.

2 losses that if i'd have just left them do their thing would have been gains.

"i have seen the enemy, and it is me..."

mate you have no idea.

i am my worst enemy... i have even considered employing someone to trade for me.

i have built my own system and all i have to do is sit there and press buy when it changes to blue and sell when it goes to red. The system works but me pffftt.

infuriating. Have looked at automating but its going to take yonks.

any ideas?

either employ someone or what!

 

[dr.blix]

short 4340 target 4331

 

[dr.blix]

short 4340 target 4331

closed @ BE

 

[francisfinley]

closed @ BE

blix me old china what stop are you using? id let your trade run just that bit longer but have a 4/6pt stop. what spread are you getting?

 

[fraggermcg]

Too much choppiness out there for me this morning. Took 10 pts at the open on the gap fade but sitting on the sidelines since then. Looks bearish to me but as per my previous post 4320 is a big support level. Will look for a breakdown of that to go short, or a clear break above the MAs at 4340 and 4350 to go long.

 

[francisfinley]

Too much choppiness out there for me this morning. Took 10 pts at the open on the gap fade but sitting on the sidelines since then. Looks bearish to me but as per my previous post 4320 is a big support level. Will look for a breakdown of that to go short, or a clear break above the MAs at 4340 and 4350 to go long.

good work, its going to bubble round here till us open - possibly rising and im going to swat it down like a mother hubbard fly once it has come up for air.

 

[dr.blix]

mate you have no idea.

i am my worst enemy... i have even considered employing someone to trade for me.

i have built my own system and all i have to do is sit there and press buy when it changes to blue and sell when it goes to red. The system works but me pffftt.

infuriating. Have looked at automating but its going to take yonks.

any ideas?

either employ someone or what!

what i've found francis, is the psychological aspect of trading weighs far greater than getting a handle on TA.

i'd say it's the deciding factor of the success of a trader.

TA can be learnt, like maths or physics...but leaning how to overcome your own personality and natural reactions to fear and greed is the key in my opinion.

long 4343 btw, i think we've just been in a bull flag

 

[carlos b]

whats with the 4335 mark guys?.. need 4334 southbound for tp.. that's twice its tested and got an electric shock

 

[dr.blix]

blix me old china what stop are you using? id let your trade run just that bit longer but have a 4/6pt stop. what spread are you getting?

i use stops of varying size from 14 pts to 30, depending on where we are in the trading range or pattern that i may think is unfolding.

what i've been doing though is terminating them manually. i'd do much better if i was trading with me not being here...if that makes sense

 

[francisfinley]

i use stops of varying size from 14 pts to 30, depending on where we are in the trading range or pattern that i may think is unfolding.

what i've been doing though is terminating them manually. i'd do much better if i was trading with me not being here...if that makes sense

Well on the ftse i would use 4/6 pt stops on a 9 point point profit target (4340 - 4331 for example) Especially when it is this choppy.

what i've found francis, is the psychological aspect of trading weighs far greater than getting a handle on TA.

i'd say it's the deciding factor of the success of a trader.

TA can be learnt, like maths or physics...but leaning how to overcome your own personality and natural reactions to fear and greed is the key in my opinion.

quite. my TA is fine, my system works - i can output the signals to you if you wanna see.. for me it is a boredom thing. Ill go up £400 from 5am-8am GMT on £1-£3 bets per point in forex and indices then spank it all 8am-9pm because im bored.

it sounds pathetic and it probably is!!!

i need another hobby, im thinking of buying a wii to play all day instead of over trading.

 

[dr.blix]

closed for + 4 pts, feel a bit wary of it not being able to break 4350

 

[carlos b]

mr blix.. i've been taking more of a back seat on the thread as such because i am trying to get my act together re suitable tp and slon sim... my ongoing stats are allowing me to do this slowly.. from a ninja to a ninja though, i have to say manual scalping is good and flexibility of freeform type trading is good, but only if you are strong and can let go of a trade..otherwise as i have learnt it can be a costly, time consuming and emotionally draining experience.. that kind of tripple whammy hurts..:shuriken:

 

[francisfinley]

ascending triangle break at 4350?

 

[dr.blix]

yeah over trading bites me in the ass regularly.

i sometimes hit my limit very early, then proceed to give it back throughout the day.

having a strict daily target and sticking to it should knock this on the head though (i hope).

 

[dr.blix]

@ carlos, i hear u mate. i think i must have a bit of a masochistic streak! paired with being a control freak...it can be really hard work :cheesy:

 

[lapalabra]

Well on the ftse i would use 4/6 pt stops on a 9 point point profit target (4340 - 4331 for example) Especially when it is this choppy.



quite. my TA is fine, my system works - i can output the signals to you if you wanna see.. for me it is a boredom thing. Ill go up £400 from 5am-8am GMT on £1-£3 bets per point in forex and indices then spank it all 8am-9pm because im bored.

it sounds pathetic and it probably is!!!

i need another hobby, im thinking of buying a wii to play all day instead of over trading.

Francis I was just writing a response to your post suggesting something similar - my trading has improved dramatically since I just stopped trading as much. I've taken up photography and getting my PADI scuba diving license, I'm caning all the gaming titles I never had time to play before like all the Call of Duties and Gears of War, and yeah the Wii is great as well but with consoles remember if you are in the house you are also near the computer.

It's summer, find something to take you away - when I put physical space between myself and my access point to trading it does wonders! My mornings are great but that sense of success keeps me in my seat for the afternoon thinking I can improve on the morning. More often than not, I do the exact opposite.

Either that or if you really want to employ someone, I'll do it - for 50% profit share. Hey, its an incentive for me to press the button correctly!

 

[fraggermcg]

Well on the ftse i would use 4/6 pt stops on a 9 point point profit target (4340 - 4331 for example) Especially when it is this choppy.

Don't you find with a 4-6pt stop you're forever getting stopped out just before it turns your way? It's probably worse using the SB platforms since they tend to overreact to actual market moves, but I find anything less than a 10pt stop just doesn't work for me unless we're in a really tight range.