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

[tennisball]

Hello Tennisball,
How was your day? Mine was good,daily target met. Went short on ftse at 3550 and closed at 3510.
Had a fairly big bet which paid off well.
tomorrow is another day. The fight goes on....I need £3k before 20th March
Good luck

Flat today for me - which is good as my losers are mostly stupid mistakes. Just getting over psychological hurdles: 1) Not putting stops is bad positions 2) Not cutting wins too quickly. 3) Not chasing trades
What is your daily target, out of curiosity?

 

[wallstreet1928]

Sorry, you misunderstand me. I was referring to your decision to sit back now that you had made your daily target, and then 5 minutes later you are in another trade. I was teasing you about it.

I would not ask about your financial situation, that is personal and not relevant to how we trade.

Its OK my friend..........

 

[wallstreet1928]

Hello Tennisball,
How was your day? Mine was good,daily target met. Went short on ftse at 3550 and closed at 3510.
Had a fairly big bet which paid off well.
tomorrow is another day. The fight goes on....I need £3k before 20th March
Good luck

Good luck my friend,

 

[wallstreet1928]

Flat today for me - which is good as my losers are mostly stupid mistakes. Just getting over psychological hurdles: 1) Not putting stops is bad positions 2) Not cutting wins too quickly. 3) Not chasing trades
What is your daily target, out of curiosity?

can i ask you tennis ball, when you enter a trade do you know where your entry, exit and stop loss will be?

 

[tennisball]

can i ask you tennis ball, when you enter a trade do you know where your entry, exit and stop loss will be?

That's a good point - I do indeed look for entry, exit and stop points - I just need to be more refined in my choices. The main problem I have is being too tight with my stops - I usually place them too close to resistance and I get stopped on price spikes far more than I should. But that will come with practice! practice! (cheap) practice!

You had a good day WS?

 

[wallstreet1928]

That's a good point - I do indeed look for entry, exit and stop points - I just need to be more refined in my choices. The main problem I have is being too tight with my stops - I usually place them too close to resistance and I get stopped on price spikes far more than I should. But that will come with practice! practice! (cheap) practice!

You had a good day WS?

yes thank you my friend........

Although my analysis went pear shaped towards the afternoon as I did not account for a fall back below 3500........well i did but i didn't expect it in my little formulae for a rally......

the second catalyst which is the financials must rally in order for us to get any type of rally going.......

I am confused now and don't understand what is happening with these markets....

I'm off to sleep now my friend, and yes practise makes perfect

 

[Jock Strap]

yes thank you my friend........

Although my analysis went pear shaped towards the afternoon as I did not account for a fall back below 3500........well i did but i didn't expect it in my little formulae for a rally......

the second catalyst which is the financials must rally in order for us to get any type of rally going.......

I am confused now and don't understand what is happening with these markets....

I'm off to sleep now my friend, and yes practise makes perfect

Financials are definitely the key to any rally. They are point blank refusing to go anywhere but further down at the moment, and despite their reducing market cap are still a crucial constituent of the FTSE.

Mind you they provided me some superb swing trading opportunities today - Barclays in particular.

 

[Trader1UK]

Afternoon chaps - anyone know if its possible to plot returns rather than price in IG charts? Been a good day for everyone? - just been scalping ticks on mean reversion - ugly business

Hi,
Did okayish,, 2 profitable trades early on, and some small scalps, daily target met for me - even though its a small target,

 

[Trader1UK]

Hello Tennisball,
How was your day? Mine was good,daily target met. Went short on ftse at 3550 and closed at 3510.
Had a fairly big bet which paid off well.
tomorrow is another day. The fight goes on....I need £3k before 20th March
Good luck

nice and well done,,
Met my target, i could do with £2k by march end, trying to achieve it but being careful at the same time as dont want to end up giving to market instead of taking from it!

 

[fast trader7]

nice and well done,,
Met my target, i could do with £2k by march end, trying to achieve it but being careful at the same time as dont want to end up giving to market instead of taking from it!

Well said mate,
I want £3k but i am being careful and cautious.
Working hard to get there, lets hope both of us will get there

good luck

 

[fast trader7]

Flat today for me - which is good as my losers are mostly stupid mistakes. Just getting over psychological hurdles: 1) Not putting stops is bad positions 2) Not cutting wins too quickly. 3) Not chasing trades
What is your daily target, out of curiosity?

Hello mate,
I trade a lot, sometimes 25-30 times a day and i get in and get out very quickly.
there is nothing to hide, I am in front of the computer all day,trying to make at least £200+ daily. So far so good, doing this for the last 1.5 years mainly trading ftse and dax.
Hard work,i do make loads of mistakes,psychological problems are hard to overcome for me mate

Good luck for tomorrow

 

[Trader1UK]

Well said mate,
I want £3k but i am being careful and cautious.
Working hard to get there, lets hope both of us will get there

good luck

Thanks man, yep hope we can achieve that.. GL 2u too.

At the beggining of the year i used to place close to 20 trades, jumping in and out looking for quick scalps on the indices, but at the moment im placing about 8 trades per day due to time constraints. Half of the time i set my trades and go to do other things, hopng to sit at the computer for longer hours.
Its very hard work and exausting and a big psychological burden on the head when your in a trade, esp if you get in a wrong trade. I make mistakes and always say i wont do that again, but its easily done. The psychological issues are hard to overcome, its like an unconcoious mind taking over but then again the adrenaline is good, but not soo good if your on the losing end.

My 2p worth...

 

[wallstreet1928]

SUCCESSFUL TRADING
Learn to Take a Loss


Taking a loss is probably one of the hardest things for a new trader to do. Human psychology can easily associate losses with failures; hence a trader’s self pride can subconsciously forbid him from accepting a loss. It is therefore vital to realise that losses merely mean one’s judgement on the market is incorrect, and taking a loss does not diminish a trader to any extent.

How often do we see traders run big losses and continue to ‘hope and wish’ the market would turn to their favour? A typical story goes like this: minutes after a trader has bought XYZ instrument, its price has fallen and the position shows a running loss which proves the trader’s original judgement incorrect. A good trader would take this loss and get out of the trade without hesitation. The longer one stays in a losing trade, the larger the running loss, the harder it is to accept it.

Many top traders perceive the financial markets as a battling ground. If things do not unfold as planned in a battle, one should retreat immediately, so he can ‘live to fight another day’.

 

[wallstreet1928]

S&P analysis

this is what I am looking at

broken out of trend line and now operating in new trend line

I still believe after tonight's price action that we have a positive bias because we did not test yesterdays low, the dreaded 666...........

I certainly do not want to be short this market as it can rally any time......I will be looking for good entry's to go long

we are just waiting for the financials now

 

[wallstreet1928]

OK my friends...........here is the FTSE 100 analysis

3500.......solid support!!

this is my chart , 2 day 10 mins........

I just can't begin to explain all the lines so I won't give any analysis, it will take too long and may not be understood

in brief, I will certainly not be shorting the FTSE as I expect a rally any time with a wedge being formed on the 1 week 1 hr chart!! if it break that trend line then we could shoot northwards very quickly.........

I will be looking to go long early morning

 

[wallstreet1928]

Wow!!!

Phenomenal, over 3000 hits on this thread since its inception 2 days ago............

I assume people are reading the thread...haha!!

I would also encourage everyone to post and introduce themselves as well so we can build a rapport

I am always here to help my friends.....

"Asian Shares Mostly Higher As Financial Stks Catch A Break

SINGAPORE (MarketWatch) -- Asian shares were mostly a little higher Tuesday despite another fall on Wall Street, with financial stocks getting some respite from recently heavy selling as their U.S. counterparts bounced."

Are we finally witnessing the light at the end of the tunnel......haha!!

I shall speak to you all on the morrow

 

[PokerBrat]

Morning all....

WS - do you ever sleep?

Strong overnight on the Asian should lead to an up day today.

 

[wallstreet1928]

Okay I managed to scalp 10 points on the Nasdaq overnight......

I am not going long on FTSE until we break the trend line on the chart

 

[wallstreet1928]

Morning all....

WS - do you ever sleep?

Strong overnight on the Asian should lead to an up day today.

I am going to be very careful with any longs...........

Good morning my friend, yes I did get some sleep from 21.00 - 01.00 and then I woke up and couldn't sleep.........

 

[Bloodhound]

Hello everyone. Just a quick heads up for anyone using the iii / Finspreads platform. You will see a spike on your 1H chart on the FTSE which I don't think happened. At 8.20 the range of my IG FTSE 1H is 3540.8 - 3514.3 and my iii one is 3554.5 - 3513.5