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

[HaloTrader]

should we short ftse right now

Rofl...

 

[Splitlink]

Actually please, no one call me LL, I said that only because of Mr Cool J, it looks terrible written up there!

I think you're the only one who did Split!

I spent three weeks in Ramallah, Palestine, at the beginning of the second intifada as part of a peace mission of sorts. An Israeli incursion on the second day meant we were house bound apart from a couple of hours during the day when we rode ambulances with the red crescent.

One of the doctors in the ambulances was called Dr Jihad (I kid you not) and one day we were driving with a spanish priest (as you do) and he was reading aloud from the bible as we drove up the hills.

Ramallah, Palestine's de facto capital, 'gods heights', was originally a hill retreat for rich jordanians, and it is beautiful up there. I said as much: 'to think that in the beginning this was supposed to be a retreat for the rich, not a flashpoint' or something as insipid as that to make conversation.

But the priest laughed and said: 'In the beginning this was nothing, in the beginning was the word!' And he happened to at that moment be on the page (I think its John's Gospel?, in the beginning was the word...)

And he showed me La palabra, and I loved that word from then. It tickles when you say out loud. My 2 year old godson pronounces it pbbbbbbbtttttt with spit going everywhere, which also endears the word to me.

A good tale. My father, when he used to come out here, fell in love with "Tibidabo", which is the big church overlooking Barcelona.

 

[jonboy123]

Rofl...

rofl?

therers way too much acronyms flying about i dont get them.

 

[jonboy123]

weekly FTSE chart:
Stochastic says overbought = do not buy
So you decide to go short.
So you look at daily chart, its oversold, so you wait till the stochastic shows overbought signal...then you short...

am i thinking correct?

 

[dr.blix]

is that where you are split, in catalunya?

(def a huge difference between catalans and castilians!)

 

[Geofract]

weekly FTSE chart:
Stochastic says overbought = do not buy
So you decide to go short.
So you look at daily chart, its oversold, so you wait till the stochastic shows overbought signal...then you short...

am i thinking correct?

No, because indicators IMO shouldn't be used as entry and exit signals - a market is never overbought or oversold anyway, the term just doesn't make sense IMO.

Indicators showing momentum or divergence can be useful. But there's much more to trading than using indicators. They can sometimes be misleading as well.

I think these kind of questions should be on another thread please. And actually, I'm sure the answers are on this board many times over, if you wish to take the time to look.

 

[dr.blix]

weekly FTSE chart:
Stochastic says overbought = do not buy
So you decide to go short.
So you look at daily chart, its oversold, so you wait till the stochastic shows overbought signal...then you short...

am i thinking correct?

im not sure jon, but to be honest i don't think that's the best way of using momentum indicators.

but you are right with the concept of looking to different TFs to correlate and hopefully provide a higher probability to your signals.

using momentum charts in their most basic form (ie leaving 70 RSI range means sell or rising up through 30 means buy) then you will run into trouble if you do not take the current price trend into account. a rule i was told is: ignore momentum sell signals in a strong up trend and ignore momentum buy signals in a strong down trend.

i wouldn't use momentum oscillators in this way, in fact i don't even register that any more.

i prefer to use them as a divergence indicator, the longer the TF the longer the 'legs' of the possible swing. this means, when the momentum indicator diverges (doesn't mirror) the shape of the price data, it can be a possible signal that the current trend is running out of steam. a useful tool (to be used with a variety of other non correlated indicators) to look out for potential market swings.

as i've said in previous posts though, i'm a beginner, so that's just my understanding. (if i'm wrong or misguided here plz someone correct this, i'd hate to be passing on duff info).

hope that helps in some way jon.

EDIT:

i see geo replied first!

he has a point jon, this thread is for live calls and analysis. not replying to simple questions regarding the basics of TA.

there are loads of threads for that on the site. also, i'd recommend reading the articles on the site...i've learned a hell of a lot from them (that's also where i read some of the above info on momentum indicator usage).

btw WS, i hope i'm not speaking out of turn on what is your thread.

good luck with your learning jon

 

[dr.blix]

rofl?

therers way too much acronyms flying about i dont get them.

too many acronyms for who jon? not me :cheesy:

incidentally, rofl means Rolling On the Floor Laughing...

 

[Splitlink]

is that where you are split, in catalunya?

(def a huge difference between catalans and castilians!)

Not to us, really. They are all very nice people. I am especially loyal to Catalans, though, because they have always treated me kindly. Unfortunately, there is this "thing" between them and the rest.

The reason is their prosperity and hard work. They reckon that they are carrying most of the tax burden. I think that they are right.

 

[lapalabra]

Dentist, further to that Rolling Stones Goldman Sachs article:

On Giving Goldman A Chance | The Smirking Chimp

 

[lapalabra]

Not to us, really. They are all very nice people. I am especially loyal to Catalans, though, because they have always treated me kindly. Unfortunately, there is this "thing" between them and the rest.

The reason is their prosperity and hard work. They reckon that they are carrying most of the tax burden. I think that they are right.

Bon Dia!

Barcelona is my favourite European city - I am there again in August, taking my fiancee for the first time. Wonderful place. And it doesn't take much when out socialising to pick up the 'thing between Catalans and the rest!'.

 

[dr.blix]

Not to us, really. They are all very nice people. I am especially loyal to Catalans, though, because they have always treated me kindly. Unfortunately, there is this "thing" between them and the rest.

The reason is their prosperity and hard work. They reckon that they are carrying most of the tax burden. I think that they are right.

yeah sorry, i should have said 'differences' really.

(although catalunyans do seem a trifle more...cosmopolitan!)

i was shocked by some of the separatist graffiti i saw in barcelona, i had no idea the division was there until i read a little history re catalans/castilians.

so are you in barcelona split? such a beautiful place, i love the area around park guell, and the swanky boutique hotels in the business district.

i'd love to live around the placa de la sagrada familia.

and sitges down the road...lovely beaches, quality seafood restaurants...

WHY AM I LIVING IN THE UK???

 

[dr.blix]

Bon Dia!

Barcelona is my favourite European city - I am there again in August, taking my fiancee for the first time. Wonderful place. And it doesn't take much when out socialising to pick up the 'thing between Catalans and the rest!'.

i thought i was a bit quiet in august lapa, gets really hot so some of the city dwellers leave the city for a few weeks...good time to book a cheap apartment!

(not that i'm inferring you're doing things on the cheap btw lapa!)

 

[jonboy123]

ok first off, thanks for the older replies to my post, ive just caught up now.

geofract, much of what you said has been in complete oppostite to what ive learnt elsewhere from sites and books. But its been noted, cheers.

blix: thanks for that reply.
"ignore momentum sell signals in a strong up trend and ignore momentum buy signals in a strong down trend." .. that sounds interesting....

I read that stochastics are good for use in ranging markets.
And MACD is good for trending markets.
FTSE is ranging more than trending in short term, so i was looking at stocastics.

you dont sound like a beginner.

Yeah this is probably for another thread section, now.

ps...you guys cant diss me for asking the things i do here....saying this is a Live call and analysis thread. When alot of time and alot of pages are of you yourselves casually joking and shooting the breeze on food/sport/hols/weather etc etc.

 

[dr.blix]

jon, it's a matter of what you ask, but more importantly when you ask.

whilst i was typing this in response to your posts earlier in the day i lost concentration on a position i had open...it resulted in a loss for me. not your fault, entirely mine, i shouldn't have been typing on a forum when i had a ropey position open.

sometimes, in a consolidation period, everyones flat and bored ****less, so u chat.

other times everyones in a frenzy with volatile markets...so whining that you're being ignored on a live call thread in the middle of a ****storm is a bit daft mate, especially when it's not even a relevant contribution, but just simple questions.

this is the friendliest, most helpful site/thread i've ever been on, but you get out what you put in, and complaining about the people on here isn't going to help when you want answers to simple questions.

i'm not having a pop at you mate, just chill out and try and contribute.

you still haven't taken me up on the offer of going over your setups, chart analysis...post some of your charts jon...i'll see if i can offer any help (as long as it out of trading hours).

 

[Geofract]

eur/usd and eur/gbp just got a belting! eur/usd just dropped 70 pips in a matter of seconds!

 

[Dentalfloss]

thanks lapa
ftse update

 

[lapalabra]

i thought i was a bit quiet in august lapa, gets really hot so some of the city dwellers leave the city for a few weeks...good time to book a cheap apartment!

(not that i'm inferring you're doing things on the cheap btw lapa!)

LOL

I'm not aware of the prices, my secretary puts everything on my Visa black card

Cosomopolitan was a good choice of word.

 

[jonboy123]

blix, yeah, sorry about your loss. Yeah i noticed today that i could easily spend my time
on this thread, and not even look at the market or the charts properly.

ok dude...lets all chill.
My setups? analysis? dude, ive never traded FTSE yet, Im not even 100% about the
tools/indicators im supposed to be using for FTSE, as the stocastic thing i spoke of as you said is not too ideal here.

When i have something worth posting ill do that...thanks....

 

[dr.blix]

LOL

I'm not aware of the prices, my secretary puts everything on my Visa black card

Cosomopolitan was a good choice of word.

ooh, get you! "yeasss, my secretary puts the Cristal on my platinum amex before we shoot off in the learjet to Gstaad for the weekend..." :cheesy:

(kidding mate!)