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

[rezadamus]

Rez, I've never used Parab SAR, but the defaults seems to be Acceleration factor 0.02 and Acceleration factor max is 0.16. Not sure if these means anything to you?

Yes, i think there are better levels though...but thanks for the reply

 

[rezadamus]

bought FTSE at 4088.0 stop at 4050.5-let see how it does...

I got stopped out at break even- probably should have taken the 12 points whilst i had the chance considering that I didn't think that I opened the trade at a great level...oh well!

 

[SuddenDeath]

why don't people "run their profits" if 4040 was support then the natural place to sell is above 4110.

 

[dr.blix]

why don't people "run their profits" if 4040 was support then the natural place to sell is above 4110.

unfortunately a good understanding of TA is only one segment of trading.

the biggest hurdle in my limited opinion is re-programming your brain to reverse the natural human tendencies of fear/greed, whilst dealing with our egos that don't want to take a beating by being wrong (resulting in letting your losses mount)...but accepting small profits to maintain you made the 'right' call.

 

[SuddenDeath]

Mark Douglas has written two good books about the mindset of trading, " The Disciplined Trader" and, "Trading in the Zone".

 

[wallstreet1928]

Good Evening my friends

been busy running around for the last few days and I have my first cricket match on saturday vs Bredbury St marks so I have been going to net practise. I am Number 3 batsmen(Ricky ponting..huh hum), so i need to get myself back in form for the outdoor season.
Heaton Mersey Cricket Club

Anyway, I'll get my TA cap on and see what i have been missing out on the evening action

S&P 18th April analysis

3 month 4 hr chart = 875 ...............I am surprised we didn't touch it today, but i will definitely be buying on a pull back as 875 target. Once it gets to 875 I will open up a short position

1 month , 1 hr chart = light blue tren line needs to be watched closely, I will be looking for a pull back to 858-860 and then buy with 875 target

1 week 1 hr = 1 month 1 hr , wait for gap fill 858 and then buy

1 week 10 min = 20 MA could provide support in the interim @ 861 ........ wait for confirmation @ 858 and then go long

I have sold my position @ 868 ...........

it failed at 870 yesterday............I thought we would go higher post citi & GE results!!

I will wait and then attempt to sell @ 875 if we ever get there?

 

[bennie83]

Just wondered what chart time frames people used? Do you think its useful to go any lower than a 5min chart? Or does this just give very mixed signals?

 

[rezadamus]

bought FTSE at 4097.8 - 25point stop

 

[wallstreet1928]

S& P 875 top of the market for the interim

anybody else agree ?

 

[wallstreet1928]

Just wondered what chart time frames people used? Do you think its useful to go any lower than a 5min chart? Or does this just give very mixed signals?

every trader is different .............what ever works for you!!

I only use 10 min and 60 min time frames for my trades

 

[rezadamus]

bought FTSE again at 4092.5- profit target 4120

 

[rezadamus]

Just wondered what chart time frames people used? Do you think its useful to go any lower than a 5min chart? Or does this just give very mixed signals?

I use 10 minute, one hour and daily charts.

 

[wallstreet1928]

Mining sector is very weak today ( i am shorting anglo american)

Banking sector has run its course and is beginning to sell off

telecoms secotor not very heavily weighted so ignore it

Oil sector definitely pulling the FTSE as oil past $50, but can it hold above ...I believe not!!

It really is getting close to opening up a long term short position(long term in my book is usually a week or a few days..too trigger happy....haha!!)


what i am trying to say is, where is the next catalyst for another leg upwards?

 

[francisfinley]

Mining sector is very weak today

Banking sector has run its course and is beginning to sell off

telecoms secotor not very heavily weighted so ignore it

Oil sector definitely pulling the FTSE as oil past $50, but can it hold above ...I believe not!!

It really is getting close to opening up a long term short position(long term in my book is usually a week or a few days..too trigger happy....haha!!)


what i am trying to say is, where is the next catalyst for another leg upwards?

did you see the FT recently, good article that another leg down to test this recent rally.

remember my charts showed 4200 and then 4330 as resistance med term. as we have crossed 4070 (the monster trendline) it must have woken the smart money up!

 

[rezadamus]

Went long again at 4088- 8 point stop on that

 

[SuddenDeath]

If we think the FTSE 100 can retest the 3500 lows then its very cheap to insure ourself , the 3500 may put costs £120 this will be worth £2000 if ftse 100 is at 3300 before the third Friday in May

 

[rezadamus]

one more long ftse at 4095

 

[wallstreet1928]

did you see the FT recently, good article that another leg down to test this recent rally.

remember my charts showed 4200 and then 4330 as resistance med term. as we have crossed 4070 (the monster trendline) it must have woken the smart money up!

congratulations on your new blog my friend

 

[wallstreet1928]

Mining sector is very weak today ( i am shorting anglo american)

Banking sector has run its course and is beginning to sell off

telecoms secotor not very heavily weighted so ignore it

Oil sector definitely pulling the FTSE as oil past $50, but can it hold above ...I believe not!!

It really is getting close to opening up a long term short position(long term in my book is usually a week or a few days..too trigger happy....haha!!)


what i am trying to say is, where is the next catalyst for another leg upwards?

financials seem to be selling off along with GE

 

[wallstreet1928]

I have sell order on FTSE 4075 , stop loss 4100

target 4050