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

[lapalabra]

Thanks Lapa, I really appreicate your time in replying to me and i will review everything you have said. Just got another 3pnts by the way 4361 shorted to 4359.

Not trying to be flash but just trying to take profit as it is provided when i feel a move is coming. And as i say Francis´s input is a good confirmation factor.

I guess i am just trying the not too greedy and quite worried about the volatility today to wait for the big move strategy. I also have started to question the merits of giving my profits back as i wait for the market to hit a big target.

We will see. I will certainly post to advise of any major set back in the strategy i am currently using to warn others if i find something majorly wrong, but i am trying to combine a number of elements i have either read or been told and so how it all goes. 19pnts up since i started bitting the small moves.

Just hope i dont give it all back!

I hope you don't give it all back either! But if you do, it will be all at once.

As I said, to each his own, if it suits you and you can make it work, go for it.

 

[dr.blix]

short 4357 target 4340 - 4325

 

[dr.blix]

short 4357 target 4340 - 4325

top marks for all those with enough sense to stay out of this tight range.

and i suppose top marks to you too kaisen for managing to make some pts out of it!

it's looking like the long i just closed may come good, and this short is gonna cost me...

oh roll on the day when i have the slightest clue what i'm doing :cheesy:

the markets looking more directionless than richard madeley's dress sense.

 

[sujithsstorock]

short 4357 target 4340 - 4325

wat is to short n wat is stoploss??? :?:

 

[lapalabra]

OK, managed to get a 4362 long entry on FTSE.

I am sooooooo stopped out

 

[kaisen]

I hope you don't give it all back either! But if you do, it will be all at once.

As I said, to each his own, if it suits you and you can make it work, go for it.

Thanks Lapa.

In the last couple of minutes i got another 5pnts - 4357 to 4360 and 4358 to 4361.

The other thing that i like is that with long moves you tend to get trigger happy and as one article says, we are conditioned to trade badly and are conditioned to cut our gains and not our losses! Obviously this is something we are all trying to re-learn correctly but as we all know we are often our own worst enemy!

I will continue to evaluate what i am doing but so far, with a market that hasnt done anything i am up 23pnts since i have been doing this.

Keep posting me as your subconscious throws out more cons or questions etc.

 

[jonboy123]

why doesnt anybody give me these answers? i have to keep re-posting the same q's.

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?

 

[traceyjc]

If you're trying to lengthen out your trades kaisen, you should wait until your 15/30/60 line up together, you may miss part of the move but you'll be making 20/30+ ticks a trade (depending on the condition of course). It's a lot less stressful as you can put in your stop and know that the techs are with you!
I also find trading in the direction of the 4hourly chart helps

 

[kaisen]

why doesnt anybody give me these answers? i have to keep re-posting the same q's.

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?

Sorry JonBoy, I use CFD´s for indices - no commissions, tight spread, and looking to start using SB for stocks as per ws.
1 cfd is like pound a point.

All the best

 

[traceyjc]

Job-Boy, I'd recomend trading £1 per point if possible since you're new, this is not a game you should be trying to get rich quick on! Spread-betting gives you a terrible spread between bid/offer so I assume from that basis (and if you're going for ultra-short trade times) maybe a CFD is better for you.

And as for the time, who knows, who cares!

 

[dr.blix]

why doesnt anybody give me these answers? i have to keep re-posting the same q's.

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?

people SBing the indices jon, some trading CFDs.

if you're new, SB, there's no tax to pay...if you do actually make a profit that is

 

[dr.blix]

also jon, maybe not the best time to ask a question on the US opening...so getting all these answers right now is pretty good going, so make sure you say thank you

just kidding (or am i?)

did someone call the forum police? :cheesy:

 

[jackolan]

Job-Boy, I'd recomend trading £1 per point if possible since you're new, this is not a game you should be trying to get rich quick on! Spread-betting gives you a terrible spread between bid/offer so I assume from that basis (and if you're going for ultra-short trade times) maybe a CFD is better for you.

And as for the time, who knows, who cares!

How tight is the spread on CFDs? I get 2 points on FTSE100 spreadbets.

 

[lapalabra]

Thanks Lapa.

In the last couple of minutes i got another 5pnts - 4357 to 4360 and 4358 to 4361.

The other thing that i like is that with long moves you tend to get trigger happy and as one article says, we are conditioned to trade badly and are conditioned to cut our gains and not our losses! Obviously this is something we are all trying to re-learn correctly but as we all know we are often our own worst enemy!

I will continue to evaluate what i am doing but so far, with a market that hasnt done anything i am up 23pnts since i have been doing this.

Keep posting me as your subconscious throws out more cons or questions etc.

Whatever your article says, all I know is that its the short moves that I get trigger happy with! The long moves I can prepare for marking in my levels, my r/r at each point and waiting for confirmations and signals, all when I am calm beforehand and then (in theory) hit the button when the opportunity presents itself. This results in fewer more deliberate, organised trades with clear exits and entries and stops me getting trigger happy on nonsense trades and over trading with short moves in tight ranges.

But as I said, if it is working for you (which it obviously is), you have system for it and it suits you, then go for it. And as I spreadbet and don't use CFDs obviously this is key to me deciding not to trade these kind of small movements.

 

[SuddenDeath]

if Newbies are more likely to lose money, then tax advantage of SBetting doesnt aply, they should do direct futures or CFD's, and once consistently profitable then move into Spread betting

 

[lapalabra]

S2 4346.5, will she, won't she...

I am reminded of the venerable Fast Show....

'Trading the market is like making love to a beautiful woman....'

Feel free to finish the sentence, publically or privately, in whatever manner appropriate to your experience.

 

[traceyjc]

Jackolan: I'm a futures trader so don't use CFD's (I can buy/sell FTSE contracts at £10pp per contract)
Anyone else out there trade future contracts out of interest?

(If you didn't know, future prices per point per contract:
FTSE:£10
DAX:€25
Eurostoxx: €10
S&P mini: $50
S&P full: $250

 

[kaisen]

Whatever your article says, all I know is that its the short moves that I get trigger happy with! The long moves I can prepare for marking in my levels, my r/r at each point and waiting for confirmations and signals, all when I am calm beforehand and then (in theory) hit the button when the opportunity presents itself. This results in fewer more deliberate, organised trades with clear exits and entries and stops me getting trigger happy on nonsense trades and over trading with short moves in tight ranges.

But as I said, if it is working for you (which it obviously is), you have system for it and it suits you, then go for it. And as I spreadbet and don't use CFDs obviously this is key to me deciding not to trade these kind of small movements.

Thanks Lapa, I agree with you. I suppose judging trends with the volatity at the mo is putting me off today.

Eyes down look in.

Finding the us markets like the grand old duke of York this pm!

 

[jackolan]

if Newbies are more likely to lose money, then tax advantage of SBetting doesnt aply, they should do direct futures or CFD's, and once consistently profitable then move into Spread betting

LOL!!! That's the spirit.... "I'm going to lose anyway so I might as well create a capital gain advantage!!!"

Hee hee... Guffaw...

 

[Glenn]

top marks for all those with enough sense to stay out of this tight range.

and i suppose top marks to you too kaisen for managing to make some pts out of it!

it's looking like the long i just closed may come good, and this short is gonna cost me...

oh roll on the day when i have the slightest clue what i'm doing :cheesy:

the markets looking more directionless than richard madeley's dress sense.

When a market has moved a long way quickly, it usually then consolidates in some form of range/triangle etc. I call it "Hurry up and Wait" (which is how soldiers describe life in the Army !).
Ftse up nearly 100 points after the open = Hurry up.
Range since 10:50 = Wait.

During the ranges, many indicators lose their way and are not helpful for trading unless you have a good scalping method. Certainly to trade a consolidation you need to operate in the lower timeframes because the market is going nowhere longer term.

Personally I woudn't trade the Ftse after lunch because the volty is generally too high and the whole personality of the index/futs changes. If you must trade after lunch I would say that you should reduce your size to compensate for the increased volty.

Above comments refer to intraday trades.

Glenn