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

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kaisen said:
Hey Papak,

I see where you have measured on your first fib level, but where is your high point taken from on the second fib calculation?

Thanks
Click to expand...

yesterdays low 4512 to yestardays high 4583 extend 161% gives 4628. As the extrade platform doesnt do extentions I use the retrace function, move it up until the 38% retrace is on yesterdays high.

Hope this makes it clear
 
40 points away from the yeay high on Jan 6th 4680.8 on my chart, Mondays high just taken too.
 
On tuesday the sp500 was still 5% below its year start if measured in gold. This move now pretty much brings it level I guess and its up for debate if the market wants to value it any higher



http://chart.ly/edtfvk
 
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pentlow1 said:
Im still long, up about 100 points. Moved my SL to 20 points behind the current level. The DAX finally woke up and is now trading above the FTSE in points up. It was 15 behind and is now 25 ahead. I think I will stick to trading the DAX as you seeem to get more volatility than the FTSE. Any advice as to what I do now. Im tempted to keep a fairly tight stop and let it ride. Would that be sensible?
Click to expand...

Closed out at 5370, +100 points. If i could do that every day I would be very happy. Looking for the next move....!!
 
pentlow1 said:
Closed out at 5370, +100 points. If i could do that every day I would be very happy. Looking for the next move....!!
Click to expand...

Well done pentlow! :clap:

Was there anything you learned today? From your entry specifically as this is the most important factor i find.

:clap:
 
dr.blix said:
nice trade (y)
Click to expand...
Thank you DB; they dont come often enough, but i am getting better. I MUST, MUST remember to follow my own rules, and not get sucked into a trade without having all the signals right. It works , but why dont I do it????? Having all you guys posting ideas and thoughts on the market is invaluable, and I hugely appreciate everyones input into this forum. i wish i had discovered it months ago.
 
kaisen said:
Well done pentlow! :clap:

Was there anything you learned today? From your entry specifically as this is the most important factor i find.

:clap:
Click to expand...

I use a fairly simple system, looking at MACD,RSI and Stochatics. When they all line up as they did around 9.00 am today giving me a signal to go long, i jump in. It cost me about 20 points to find the right entry level as i had tight SL on my 2 previous buys. The thing I have learnt is to be patient and wait for my signals to line up and not to think this time it will be different, because it rarely is. Also just reading peoples views on this forum i find really helps in reinforcing my views, particularly from those guys who have been doing this for a lot longer than me.
 
Took profits on FTSE at 4627 as planned, 70pts profit. That trade pays for my holiday!
It will probabaly go up longer but as Im leaving early tomorrow I wanted to finish trades today.
Will be back 11 August, everybody have fun in the mean time and will catch up then.
PapaK
 
papak said:
Took profits on FTSE at 4627 as planned, 70pts profit. That trade pays for my holiday!
It will probabaly go up longer but as Im leaving early tomorrow I wanted to finish trades today.
Will be back 11 August, everybody have fun in the mean time and will catch up then.
PapaK
Click to expand...

Have a great holiday my friend!(y)

Any forecasts before you go?

:)
 
Yes kaisen. Fingers crossed. None of the earnings have been positive as far as I see - no topline growth - nada. Exxon was a shocker, but punters ignored it. Some crazy unknown companies gained more than 10 to 12% in value. Their old holders would want to take profits. Plus GDP coming out tomorrow.
 
london_lad said:
Yes kaisen. Fingers crossed. None of the earnings have been positive as far as I see - no topline growth - nada. Exxon was a shocker, but punters ignored it. Some crazy unknown companies gained more than 10 to 12% in value. Their old holders would want to take profits. Plus GDP coming out tomorrow.
Click to expand...

Btw, whatever i said could be all tosh. I made no money today.
 
kaisen said:
Have a great holiday my friend!(y)

Any forecasts before you go?

:)
Click to expand...

Well I expect the market to go up until end of next week!
Thats purely based on time - mainly on based SP500 cycles, but FTSE nrmally has very similar cycles as SP500.
I'm switching the PC off now, c u all in August!
Happy trading all!
(y)
 
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