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

[kaisen]

not caught any big moves yet, because i jump out when i get to 10 pts, that's just £1 pp, but so far my p&l and good call/bad call are in a positive ratio.

all i want is 20 pts per day at £1 pp (for now) and with the E$ it just seems possible.

just seems far less snidey than the FTSE. respects channels and levels and you don't get that vibe where stops are being hunted all the time around key levels.

lovin' it so far. thanks for posting that bias info last night btw, makes sense now

Hey big man! Hows the weather up there in Noocastllllle?

Good to see you are getting success with currencies trading

I am getting rather peaved with the snideyness (nice word eh?) of indices at the mo. Determined to crack it all though, i´ll get the b******s!
I like ws´s approach linking everything together - indices, shares, currencies, oil, gold etc - each making each roll round!

Anyway, do you remeber the pages where the bias stuff started or should i just view phil newtons site?

Glad to see you are now making money! And not at 10p pp! I think it is differnet when money is involved.

Anyway well done my friend, let me know when next you are down this way!

All the best

 

[Geofract]

not caught any big moves yet, because i jump out when i get to 10 pts, that's just £1 pp, but so far my p&l and good call/bad call are in a positive ratio.

all i want is 20 pts per day at £1 pp (for now) and with the E$ it just seems possible.

just seems far less snidey than the FTSE. respects channels and levels and you don't get that vibe where stops are being hunted all the time around key levels.

lovin' it so far. thanks for posting that bias info last night btw, makes sense now

Good stuff!

Agreed, E$ is much nicer to trade than the FTSE. Even trading eur/gbp this morning, I made a nice 38 pips, with relatively little problems. Meanwhile the FTSE was bouncing around a 25 point range

Here's to lots more righteous pippage!

 

[kaisen]

Hi kaisen,

first off , I'm only a beginner when it comes to currency markets, I've only traded £Y so far.

Re: the stop loss size , I can't answer that kaisen (trading style? , TF for that particular trade? etc) , obviously you've got a wide spread @ ~10pips (yea , I know they advertise spreads from as low as 3pips, just you try getting it , you do see spreads quoted that are that narrow , erm except when you step into the market, funny that)

Slippage , never traded a share in my life kaisen , real or spread betted , so no idea what they're like compared to currencies.

with regards slippage and resting orders, I don't enter trades with resting orders, I trade at the market (and it's been fine so far). Same for stops, I cut the trade manually at my 'mental' stop , which is at a point where I consider the 'trade idea' fubared should the market reach there, it's usually before the minimum stop distance set by IG (where my initial stop is placed when I enter the trades)

The only time trades have been stopped out with resting orders , is when I've used Guaranteed stops , either because I know I'll need to go to bed or go out, slippage isn't an issue with those.

GBP/$ , not a market I've done anything with at the moment, looks ok from what I've seen of it though.

Cheers Mas

 

[Geofract]

Hey big man! Hows the weather up there in Noocastllllle?

Good to see you are getting success with currencies trading

I am getting rather peaved with the snideyness (nice word eh?) of indices at the mo. Determined to crack it all though, i´ll get the b******s!
I like ws´s approach linking everything together - indices, shares, currencies, oil, gold etc - each making each roll round!

Anyway, do you remeber the pages where the bias stuff started or should i just view phil newtons site?

Glad to see you are now making money! And not at 10p pp! I think it is differnet when money is involved.

Anyway well done my friend, let me know when next you are down this way!

All the best

Kaisen, there's a bias diagram I put together here ... http://www.trade2win.com/boards/uk-...p-aimed-help-new-traders-1250.html#post848800

 

[Geofract]

I am looking to try trading currencies.

Could you give me some input on stop loss size and also given the moves which can occur do you have greater slippage on currencies than shares etc

Kaisen,

WFIW, my stops have varied between 9 pips on eur/gbp, to 18 on usd/chf, and +30 on the £Y. For me, so far in my very limited experience, the more a particular fx pair moves in a day (ATR), the bigger the stops.

As my strategy is to trade pull backs, I figure I have either picked the top of the pull back or not - so, I just set the stop a few pips above what I anticipate to be the top of the pullback. If the markets makes a new move against me, I want to be out asap, not give it room to breath, because a new move means I haven't picked the top of the PB. This is my theory anyway. Just my 2p.

I can't comment on the other stuff, and I don't trade Cable - it's a monster apparently

HTH

 

[Geofract]

just catching up now , £Y been good today.

Hope you got lots of pips today Mas!

Any thougths on direction for £Y? I suppose either it will break its capping TL (High of 12th june to high of 1st july), and make a sustained move, or drop like a stone!

 

[Splitlink]

Split - I don't see this on the 2H?

In terms of TLs for this morning - See that TL on the 10M (OOH exc) then from 24 Jul high, swing lows of 27 Jul and yesterday?

This coincided with the 4520 - yesterdays S1 and low, as well as May high and the 4510 you mention.

Perhaps more aggressive trading is needed when tls and S/R coincide - esp in the morning as an early failed trade still gives time to get on board in the opposite direction and benefit from the trend.

This is what I saw. Chart went down somewhat after. There is, also a S&R line for those followers. I follow them, too, but don't swear to them. This was a good one, though.

Not a great move down, afterwards, but not a rise, either and I would not have gone long overnight on this one. Tomorrow is another day!

 

[Geofract]

E$ now bouncing off 61.8% (excuse my upside down fibs) of entire swing from 8th July - could be a great long from here, even though H3 bias is down today following the break of yesterdays low. I prefer to go with the H3 trend, so not a trade for me.

See you all tommorow.

 

[masnachu]

Shh on the pipage , having to endure a 100pip range right now

with regards to daily , not trading this with a TL, although it may well turn the market there ?

Will have to come back to you with further analysis on the dailies , right now all my charts on UWC have stopped updating (done it once or twice already today), so I'm transferring stuff over to another MT4 supplier, things are a but grrr right now

I'm getting a tentative buy signal on the dailies though, but that doesn't mean it wont stop dropping a bit further. Thats about the best I can offer right now, tired and a wee bit miffed.

 

[kaisen]

Kaisen,

WFIW, my stops have varied between 9 pips on eur/gbp, to 18 on usd/chf, and +30 on the £Y. For me, so far in my very limited experience, the more a particular fx pair moves in a day (ATR), the bigger the stops.

As my strategy is to trade pull backs, I figure I have either picked the top of the pull back or not - so, I just set the stop a few pips above what I anticipate to be the top of the pullback. If the markets makes a new move against me, I want to be out asap, not give it room to breath, because a new move means I haven't picked the top of the PB. This is my theory anyway. Just my 2p.

I can't comment on the other stuff, and I don't trade Cable - it's a monster apparently

HTH

Hey Geo,

Thanks for your input. I agree with you regarding stops. Will have to reflect the usual movement of the pair and should be where you think the direction isnt going.
I plan to trade, currencies and everything else, where i can see a clear trend and like you say put my stop in a place where being stopped suggests a change in trend. So i guess I am trying to find setups at the extremes of the current trend to begin with.

I liked the look of the GBP/$ earlier as I feel the dollar is bullish at the moment and the price was above the level I consider "value" based on a 22 EMA. I plan to use the 22 EMA to show the direction of the trend and only trade in the direction of the trend or at extreme opposite of the trend with a stop close by in case the trend is to change.

I plan to look at a number of pairs looking for the trade with the best probability etc.

As one website put it, I will look to trade the hot handle.

I will look at the link so many thanks.

Any further input welcome my friend.

May your current good run continue!

All the best.

 

[dr.blix]

geo, re your E$ channels, they feel a bit 'open' if you know what i mean.

have a butchers at this, it's been good for me today, caught the bottom dead on too (but jumped out after + 10 as opposed to + 40 )

oh and excuse all the mess, my cleaning lady's on holiday :cheesy:

 

[kaisen]

Sujith

Is the Dow worth a short at 9100?

 

[Geofract]

geo, re your E$ channels, they feel a bit 'open' if you know what i mean.

have a butchers at this, it's been good for me today, caught the bottom dead on too (but jumped out after + 10 as opposed to + 40 )

oh and excuse all the mess, my cleaning lady's on holiday :cheesy:

Not sure Mate, that's Mas's channel, so I blame him I'll have another look tommorow though.

What's all those squiggly lines at the bottom of your chart?

 

[dr.blix]

I like ws´s approach linking everything together - indices, shares, currencies, oil, gold etc - each making each roll round!

yeah, intermarket analysis is what i was trying to get my head round...too much for me though at this early stage in my education.

i think WS has been into this for many years, so has a good feel of intermarket analysis through a lot of exposure/experience (at least i think i'm right in assuming that!)

i'm hoping that that side of analysis will make more sense as i spend more time playing about in the markets.

right now i just want relative consistency with as simple a method as possible.

little and often...as they say.

 

[dr.blix]

What's all those squiggly lines at the bottom of your chart?

are you mocking my indicators sir?! how dare you

do you still go on the irltraders site?

 

[wallstreet1928]

oil .................next level or range

$ 61.75 - 62.85

I am just surprised Exxon and BP didn't go into free fall whilst oil was being liquidated.........????

tried picking a reversal in oil and I learnt my lesson ......although that was a key reversal area!!

It will be interesting to see what happens to oil in the asian session

those that pay homage to the fibonacci ratios 61.8% retracement @ 62.9 .........

$62.9 crucial level .............

< $62.9 ..........euro falls below 1.4

> $62.9 ..........euro rallies to 1.409

 

[masnachu]

Not sure Mate, that's Mas's channel, so I blame him I'll have another look tommorow though.

What's all those squiggly lines at the bottom of your chart?

Err Mas's channel from errr like 6 months ago

P.S. Still Irate


Trading Any of the Y pairs tonight ?

 

[masnachu]

Shh on the pipage , having to endure a 100pip range right now

with regards to daily , not trading this with a TL, although it may well turn the market there ?

Will have to come back to you with further analysis on the dailies , right now all my charts on UWC have stopped updating (done it once or twice already today), so I'm transferring stuff over to another MT4 supplier, things are a but grrr right now

I'm getting a tentative buy signal on the dailies though, but that doesn't mean it wont stop dropping a bit further. Thats about the best I can offer right now, tired and a wee bit miffed.

£Y if they push this back down , I gonna go F'in nuts

 

[lapalabra]

£Y if they push this back down , I gonna go F'in nuts

Heh, save your sanity...pushing at that major res @ 15630 now

I'm looking to go long @ 15640/50 pending a retest, target the TL I have on the hourly @ around 15710

Just buying and selling this range from '630 to '530 must have been profitable for you guys -haven't been able to focus on fx recently

 

[papak]

Mornig all,
Still long FTSE from yesterday. stop moved to 4535.
Market turned nicely up. DAX making new highs. Think FTSE will make new highs soon.