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

[traceyjc]

I'd agree on the LONG to 4270 but then short the hell out of it. I think what's holding it back is jst basically low volume / time of day.

Re: Woman in mans body: Of course it counts, everyone welcome. Right WS?

Re: Women better at trading? Debatable! They can do two things at once which we can't but men act better under pressure. Interesting... they should do a study

 

[kaisen]

HAHAH...sorry mate, i'll stop calling you 'trace'

i must admit, whilst it's great having you post your valuable insight...i did think it would have been quite cool having a female perspective..never mind!

HAHAHA!

Told u so Told u so!

 

[Outa my gourd]

Does being a woman trapped in a man's body count?

Whatever floats your boat

 

[dr.blix]

HAHAH...sorry mate, i'll stop calling you 'trace'

i must admit, whilst it's great having you post your valuable insight...i did think it would have been quite cool having a female perspective..never mind!

btw, sorry for the nonsense posts chaps, you can tell i'm bored sitting on the sidelines ey?!

(p.s. my next question was going to be ' Tickdoc are you a sheep vet?' )

 

[kaisen]

I'd agree on the LONG to 4270 but then short the hell out of it. I think what's holding it back is jst basically low volume / time of day.

Re: Woman in mans body: Of course it counts, everyone welcome. Right WS?

Re: Women better at trading? Debatable! They can do two things at once which we can't but men act better under pressure. Interesting... they should do a study

Hey TJC, I...could tell you were a bloke as your obvious manlinous exudes for all equally manly men to see!

 

[lapalabra]

That's a great level, shows up really clear on the 4H, thanks

Exit @ 13965 EUR USD for +28

 

[Geofract]

Moved stop to BE.

Target is 1.3967 btw

Closed for + 37, slightly before target. I was just happy to make a decent call and entry and for a change!

What's your exit lapalabra?

edit: ok, you are out!

 

[lapalabra]

Closed for + 37, slightly before target. I was just happy to make a decent call and entry and for a change!

What's your exit lapalabra?

edit: ok, you are out!

I normally keep my charts up to date but didn't have that level marked in - was a great exit level.

Yeah feels good to have some positive pips for a change....tell me about it!

With forex though, I find that even a few wins then and again are ok - the risk reward of these trades are decent, and the occasional sighting of a running trade with loooooong legs makes it worth it

 

[Outa my gourd]

Good call, Geo & Lapalabra

 

[lapalabra]

Geo - was there anything that convinced of you of such an early entry @13920? Have that marked in as a support and saw price bounced from it, but I wasn't willing to risk the 13937levels as resistance causing a pullback and wanted to see it cleared.

Was there anything that gave you confidence that early entry was safe and you could count on that extra profit and a secure pass up through that 13937ish res?>

Trying to get my head around planning entries in as safe a way as possible, with enough profit banked early as possible!

 

[Geofract]

I normally keep my charts up to date but didn't have that level marked in - was a great exit level.

Yeah feels good to have some positive pips for a change....tell me about it!

With forex though, I find that even a few wins then and again are ok - the risk reward of these trades are decent, and the occasional sighting of a running trade with loooooong legs makes it worth it

I have to admit I hadn't even drawn in the levels, which I should have done really. The target was a 161.80% fib extension.

Seems to me, for the amount of time I have put into trading the FTSE, the RR just isn't as good as Forex - but then, I'm still learning Forex, and there's still plenty of time to get burnt!

 

[Geofract]

Geo - was there anything that convinced of you of such an early entry @13920? Have that marked in as a support and saw price bounced from it, but I wasn't willing to risk the 13937levels as resistance causing a pullback and wanted to see it cleared.

Was there anything that gave you confidence that early entry was safe and you could count on that extra profit and a secure pass up through that 13937ish res?>

Trying to get my head around planning entries in as safe a way as possible, with enough profit banked early as possible!

Hi Lapalabra

Fairly simply, the move up from 6.00 am to around 7.45 am, looks impulsive, in Elliot terms. I took that move to be wave 1, and wave 1 is usually followed by wave 3, which tends to be the longest wave. Measuring fib extensions, gives me a reasonable target for wave 3 to end - it's often hit. So I entered the first pull back which I thought was reasonable. More agressive traders would have bought on the dip at 8.30 I guess, or the break above 1.3915.

Not everyone subscribes to Elliot, and it's not without it's problems for sure. But the 1,2,3, count is very useful, and predictable most of the time.

Hope that helps.

Geo

Edit, sorry, answered Lapa, thinking it was OMG... oooppps, successs went to my head, and didn't pay attention!

 

[wallstreet1928]

FTSE seems to have staled on this break out

nice little pop on Euro and oil which have contributed.......... but stocks still looking weak such as AAl, BARC, LGEN, BP..........they just can't push higher with the xception of AAL??

watching 50 MA at 4255 which coincides with trendline ...........break above that and i will go long to 4290 , 200MA

 

[dr.blix]

i'm short 4246 on what i hope is an enormous rising wedge.

(so much for my 'trading plan'...)

i'm going to do some gardening, i've set my target at 4230...if it hits, great, if it don't, then poop...

 

[lapalabra]

I have to admit I hadn't even drawn in the levels, which I should have done really. The target was a 161.80% fib extension.

Seems to me, for the amount of time I have put into trading the FTSE, the RR just isn't as good as Forex - but then, I'm still learning Forex, and there's still plenty of time to get burnt!

I'm coming to the same opinion. The RR is so much better, and also the return on time invested!

 

[SuperDriveGuy]

Bund trade lining up for after lunch:

If it pulls back to the 70-80 level, I think this could be a nice trade to hold onto for the week. I know you guys mostly day trade, but no reason to not be able to take some of the meat intraday.

Hi JC,
Never traded bonds, so please excuse the newbie question.

What's the contract symbol for the bund? I believe its the german govt bond, is it the futures market you trade? which period 09-09?

Thanks

 

[traceyjc]

Hi JC,
Never traded bonds, so please excuse the newbie question.

What's the contract symbol for the bund? I believe its the german govt bond, is it the futures market you trade? which period 09-09?

Thanks

No problem, yeah I trade the Futures market (€10/contract/tick for Bund), what about yourself?

The code for the Bund is GB U9-DT on futuresource charts, FGBL / Eurex for your front end. (U9 is for September09 contract).

It's a slow moving contract so little chance of very quick profit but the good side is that when all your indicators are lining up nicely, it can be a very nice move. It also broke daily trend yesterday so after a bit of a re-test, there should be a nice up-side move due to fundamental reasons.

I've only been trading bonds for 3 months now but you can fire ahead more questions if you like!

 

[SuperDriveGuy]

No problem, yeah I trade the Futures market (€10/contract/tick for Bund), what about yourself?

The code for the Bund is GB U9-DT on futuresource charts, FGBL / Eurex for your front end. (U9 is for September09 contract).

It's a slow moving contract so little chance of very quick profit but the good side is that when all your indicators are lining up nicely, it can be a very nice move. It also broke daily trend yesterday so after a bit of a re-test, there should be a nice up-side move due to fundamental reasons.

I've only been trading bonds for 3 months now but you can fire ahead more questions if you like!

Thanks JC.

I have been trading the FTSE Z futures exclusively for last 3 months. But the Bund interests me for the low spread 0.005, going down to 0.0025 for over 200 contracts a month.

Are there any particular reason(s) you chose bonds over indices/commodities etc?
(this will help us all newbies)

Regards

 

[wallstreet1928]

still knocking on door 4355

 

[kaisen]

i'm short 4246 on what i hope is an enormous rising wedge.

(so much for my 'trading plan'...)

i'm going to do some gardening, i've set my target at 4230...if it hits, great, if it don't, then poop...

Howdy, whilst i am sure your enormous wedge is impressive, do you see ascending triangles on the longer TF?:?: