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

[dr.blix]

yeah i'm short FTSE geo, problem is the SPX is trading in a channel of which it's roughly at its bottom...so its going to head north first...which it just has and stopped me out.

 

[Geofract]

yeah i'm short FTSE geo, problem is the SPX is trading in a channel of which it's roughly at its bottom...so its going to head north first...which it just has and stopped me out.

Oh ar*e!

On second thoughts, I'm wondering if this downward correction from the 15th ended today, as the move up today from 4240 looks like it could be impulsive in EW terms, and we broke through a downward trendline.

I'm watching EUR/USD closely now. There's a clear ABC correction from the 3rd of June, but the last few days up are quite messy, and the move still looks corrective to my amateur eyes.

Perhaps we will see 4340-60 before going lower - or maybe the rally up will continue.

Just out of interest, for those who trade Forex, do you find the patterns are clearer for Forex? I mainly watch EUR/USD, and it does seem easier to read than the FTSE, though maybe I'm kidding myself!

 

[francisfinley]

some advice from my experience.

trade FTSE/DAX 8am/7am - 12pm

trade FTSE/DAX 12pm-16.30 if you have to.

never ever trade FTSE/DAX after 16.30. it is not the ftse - look at it now thats the us indices talking!

just around the close i had a short in the ftse but took the profit at 16.38pm.

Why?


i have been stopped out countless times overnite in a good position.
i have ended up losing a nice gain after 16.30pm
i always, always lose @ trading after 16.30pm because i am tired/bored cant think straight and want that killer bet.
I have runied my profits for the day by trading after 16.30 everytime without fail.

if you do make money after 1630 trading FTSE/DAX then good luck to you, it is possible but certainly not worth it IMO.

any intraday trade (performed by a day trader) carried over nite is nothing more than a punt, lets not confuse a position opened by a swing trader or long term trader opened on that day because it met his/her criteria.

 

[Geofract]

Yes, all good points Francis. Thanks.

I'm starting to think it's only worth trading FTSE in the am, unless you're taking swing trades of +1 days. Once the US opens, its a duplicite index.

 

[dr.blix]

i think your spot on there geo.

i've been making some ok gains in the am...then through lack of discipline spunking it in the pm.

i find it much easier to chart the gentle FTSE than i do the bloomin' yanks!

 

[francisfinley]

Yes, all good points Francis. Thanks.

I'm starting to think it's only worth trading FTSE in the am, unless you're taking swing trades of +1 days. Once the US opens, its a duplicite index.

just put a mega post on my blog.

 

[francisfinley]

i think your spot on there geo.

i've been making some ok gains in the am...then through lack of discipline spunking it in the pm.

i find it much easier to chart the gentle FTSE than i do the bloomin' yanks!

check my sermon matey. just try 8am-12pm you will notice the difference. like sainsburys to ASDA.

 

[dr.blix]

check my sermon matey. just try 8am-12pm you will notice the difference. like sainsburys to ASDA.

lol, nice supermaket analogy :cheesy:

 

[francisfinley]

lol, nice supermaket analogy :cheesy:

and go and eat some dinner!! 8am-9pm is not good for the brain & eyes!

 

[dr.blix]

:|

 

[francisfinley]

:|

"Why the tears?" he asked.
She says, "I'm Susan Boyle and I've never been kissed."
The man pauses for a moment, then smiles and gives her a soft kiss on the head.
She laughs a little and puckers up so he gives her a big kiss on the lips.
They pause for an unsure moment and then she says, "You know... I'm Susan Boyle... and I've never been ****ed!"
The man stands up starts smiling and grabs Susan Boyle by the hair and tosses her into the sea.
She starts screaming and bobbing up and down, then the man shouts, "WELL YOU'RE ****ED NOW, DARLING!"

 

[Geofract]

Thanks for the sermon FF... As I always say, good to have another opinion.

Also, just wanted to say it's great to have some peeps to chat with regarding trading again, after 3 weeks of no comms.

 

[francisfinley]

Thanks for the sermon FF... As I always say, good to have another opinion.

Also, just wanted to say it's great to have some peeps to chat with regarding trading again, after 3 weeks of no comms.

well im only 6 miles away if you want a pint!

 

[dr.blix]

"Why the tears?" he asked.
She says, "I'm Susan Boyle and I've never been kissed."
The man pauses for a moment, then smiles and gives her a soft kiss on the head.
She laughs a little and puckers up so he gives her a big kiss on the lips.
They pause for an unsure moment and then she says, "You know... I'm Susan Boyle... and I've never been ****ed!"
The man stands up starts smiling and grabs Susan Boyle by the hair and tosses her into the sea.
She starts screaming and bobbing up and down, then the man shouts, "WELL YOU'RE ****ED NOW, DARLING!"

hahaha...

 

[Geofract]

well im only 6 miles away if you want a pint!

Ok mate, I might take you up on that!

 

[jonboy123]

you boys talkking about NOT tradding ftse after hours......
from a day trading perspective?
Quarterly bets have no choice.....albeit with decent stops...in place.....


So most people here are spreadbetting the FTSE?

For a newcomer, should i use a spreadbet or a CFD (£2 mini contract).....? for FTSE trade...


Sorry off topic, can we bookmark a specific comment made by somebody???

And the time above right in each comment, mine is completely wrong to UK time, can we set this right?

 

[Outa my gourd]

welcome back OMG. thought you ain't been around for a while...hope it was nothing too serious.

Thanks, Dr B. Nothing major, just a lump on the back my head (about the size of an egg - no, it wasn't an egg!). It's gone for testing. Bloody stitches itch like buggery though!

Funny you being a producer - recently cut a demo of one of my ditties. Have to compare notes off-thread sometime

Right, where's that TA book I was reading? :smart:

 

[jackolan]

you boys talkking about NOT tradding ftse after hours......
from a day trading perspective?
Quarterly bets have no choice.....albeit with decent stops...in place.....


So most people here are spreadbetting the FTSE?

For a newcomer, should i use a spreadbet or a CFD (£2 mini contract).....? for FTSE trade...


Sorry off topic, can we bookmark a specific comment made by somebody???

And the time above right in each comment, mine is completely wrong to UK time, can we set this right?

Depends how much you plan to earn... CFDs are liable for capital gains tax... but you get £7000 (or is it more?) for free. Spread bets are bets.... no tax.

 

[jonboy123]

Depends how much you plan to earn... CFDs are liable for capital gains tax... but you get £7000 (or is it more?) for free. Spread bets are bets.... no tax.

Not getting too into specifics like that... i know those differecnes.
Cap gains tax = over £9.6k
I dont care about tax just yet...

Im talking purely on a learning/newcomer basis....
Small trading account, small trades...... whats better?
£2 mini CFD FTSE........ or spreadbet.....?

 

[andresj]

Morning all

Any view on the market open today? Dow closed bullish on recovery hopes, news here in the UK seems to be the opposite. Tight range until US open? I think it might be option expiry today, not sure how this will play out given that things feel quite bearish.

Looking at cable at the moment, and I'm going to keep any eye out for a reversal at 1.64. W pattern seems to be completing on 5 min chart, with last leg up to touch 1.64 before starting the last downward leg of an M in 30 min timeframe, backed up by lower his and lower lows for the last few days. Also big bearish MACD divergence showing on 30 min chart as we head toward 1.64.