Should've just followed my system and bought... worst retail figures of the year and the market goes up 10 points... wtf?
Any thoughts?
i dont know what you mean...i was trading at spot, if you tade at the FTSE cash prices (on IG Markets, which is where i trade through)...if you look at the prices at around the close, which is around where I traded...you'll see that it was around 4270-4300 range...if ur super keen, go back to my postings from yesterday, and you'll the times etc etc etc...and also, you'll see that I have an approx 40% (bit less now that iv added to my shorts without adjusting the option) hedge with a 3month call...
im not interested in verifying anyones calls, i really do not care nor have the time.
what i am interested in is why you would have so many positions open, is it not more difficult to close so many down or do you leave it to an automated order for instance half those are now wiped out as the ftse did move out - did you move the stops to break even or what size stop are you using.
my methodology is to open say a short from the highest position possible ie 4300 with say 5 runners ie £5 per point and then pick a £1 off at each target.
Im sceptical of so many positions to show to new people as a way of trading. also selling so low in the scheme of 2 days. also leaving positions over night where stops get mutilated.
just wondering....
ok.
In one of my posts I believe we are in a double dip recession...we've been trading in a range since may and the price action breached the floor of this range...I trade momentum, when I see price action movin in an expected (to my knowledge) way, I add to my positions...I have hedged my shorts, with the call...I start off with a smaller sized trade and increase the size in like with where the market is vs my expectations...
If im not confident, I trade small or stay out...
wicked.
what are you hedging with if you would be willing to share.. is it a longterm long from the bottom of the ftse or another market?
Don't think I'll ever trade on news again, this is MUCH worse than scalping the retracement! :clover:
Francis, I think rez is planning on having these positions open for a while, until we hit 4000 or something, so he probably has a wider stop, and is less fussed about the intraday goings on? (correct me if i'm wrong 🙂)
Similar to what I'm doing, although I just added to my original position instead (or rather, my broker automatically adds them together (spreadbetting)) and I plan on holding for a good few days/weeks now.
It depends on what the market is expecting (on what's priced in) , today for eg , you had bad retail figs , smack bang in the middle of a recession , are you really suprised ?
It depends on what the market is expecting (on what's priced in) , today for eg , you had bad retail figs , smack bang in the middle of a recession , are you really suprised ?
well, it changes with spot etc...but a 3month ATM call would be decent...but u need to do a bit of experimenting if you dont have access to a pricing tool...i wouldnt suggest it unless ur confident...Im loading up because i think we're heading for a major drop...
hmmm i think futures might be an option.
im just not a long term person i have tried it just cannot do it. my trades will be maximum 3/4 hours on forex, the longest i have left running. but ftse/dax its literally minutes. i like to be active 5am-12pm just relentless.
smaller lots longer timeframe bigger stop
vs
bigger lots smaller timeframe smaller stop
i for one cannot do the longer timeframes!! i know most will make more using longer timeframes but each to their own i suppose.
I meant "bad" in a relative sense... everyone was expecting "bad" but these were worse than was expected.
Morning!
Quick question! After you send the signal to buy/sell etc, how long do you hold before closing the position? Do you close after a few points profit or wait for an exit signal?
Chars
Morning!
Quick question! After you send the signal to buy/sell etc, how long do you hold before closing the position? Do you close after a few points profit or wait for an exit signal?
Chars