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

[dr.blix]

ftse is trading way above the spx again for some reason

 

[jackolan]

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

Spreadbets are always futures contracts, but the price of the daily cash ftse 100 in a spread bet market is more likely to reflect the underlying ftse100 price than the futures price. You can get 10p a point at IG Index for your first couple of weeks, building up to £1 a point minimum.

Who's your broker?

 

[kaisen]

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 comsolidation 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.



Glenn

Nice post Glen, i am a newbie and not seen you before. But in the words of ws, Welcome Welcome Welcome my friend!

Like your comment in scalping in todays conditions by the way27pnts since i started scalping today!

Above comments refer to intraday trades.

 

[traceyjc]

Yup they certainly are but the spread is min. 1 full point whereas its 1/2 point + working orders on actual futures contracts (the real deal)

10p a point is perfect for a beginner, gives you the taste of real profit/loss but with practically no downside (or upside!)

 

[kaisen]

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

Thanks tracey.

 

[lapalabra]

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 comsolidation 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

That's a great description and succinct appraisal, Glenn.

Hurry Up and Wait, as well as referring to life in the army, also refers to me trying to get out the house while waiting for my fiancee to get ready.

 

[kaisen]

That's a great description and succinct appraisal, Glenn.

Hurry Up and Wait, as well as referring to life in the army, also refers to me trying to get out the house while waiting for my fiancee to get ready.

 

[jackolan]

short 4357 target 4340 - 4325

Nice call Dr Blix! :clap:

 

[dr.blix]

closed for +10pts

 

[dr.blix]

Nice call Dr Blix! :clap:

thanks jack, may try another FTSE short if SPX breaks below 924.5 which on the FTSE would be a fill down to 4326

 

[kaisen]

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

Should be able to offset initial capital gains losses (with CFD) against any future liability also!

Or any other capital gain made.

 

[jackolan]

thanks jack, may try another FTSE short if SPX breaks below 924.5 which on the FTSE would be a fill down to 4326

What's your theory about the relationship between SPX and FTSE?

 

[kaisen]

thanks jack, may try another FTSE short if SPX breaks below 924.5 which on the FTSE would be a fill down to 4326

Yes, nice call Dr B! And thanks for the nice comment earlier!

Trying to figure out if I should stop trading for the day or try and gauge what is happening!

 

[SuddenDeath]

Also I think I am rigth u dont cross the spread in futures.

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

you can buy at the bid and sell at the ask price.

 

[dr.blix]

short 4338 target 4326

bolox, should have taken a few points there, pushing it shorting in an up T.

 

[SuddenDeath]

does anyone here have large tax bill from trading, I can wipe out their tax liability in one week.

 

[jackolan]

does anyone here have large tax bill from trading, I can wipe out their tax liability in one week.

ROTFL

 

[dr.blix]

ok possible triangle coming up, continuation hopefully so i'll chance keeping this short open.

hope its not a 2 bar key reversal on the SPX.

 

[sujithsstorock]

we sold gold today at 937 with sl 940 n tgt 928 is set. will book lill profit at 933 . thts 40 pips.

sold gbp/usd at 15460 n tgt 15400 met. made 60 pips.

sold crude at 72.5 with sl 73.. tgt is 71. long way to go.

shorted silver at 14.33 now 14.22.

ftse entry penidng. i dont expect it to hit entry today.
we update our daily views in all mentioned stuff at daily views @ activeintl

ps to moderator. pls dont consider it as spam. if thr is a profit opportunity elsewhere, we should let others knw of it

 

[10pips]

This thread has become very hard to follow - was never keen on reading long sentences/paragraphs.

May consider long for 10pips from R2 level.