FTSE100 - Daily Trades

[Caseynotes]

14 hours ago, nit2wynit said:

Cheers Mark but i don't even know what that means 😮 Tear off a Deal Ticket?

from right click on the market the 'Open ticket in new window' creates a deal ticket (as in @Mark27000 's post above) you can move to wherever you want.

[DSchenk]

Finishing the week on a red note unfortunately. Choppy market today although 30 point move was happening in the first 30 minutes. New try, next week.

7 Trades, 1 Win, 1 BE, 5 Losses

Pressed post  accidentally. Trade break-down in next post

Edited September 20, 2019 by DSchenk

[DSchenk]

Trade 1, Short, Loss, Down 5 Points
Looks like a potential bounce off 200EMA. Enter short. Stop-loss above 200EMA hit shortly after

Trade 2, Short, Loss, Down 10 Points
Potential bounce off Pivot; Enter short. Stop loss above Pivot hit

Trade 3, Long, BE
Changing direction to long above pivot. Bounces off 7340 resistance lvl and flushes back down to hit stop-loss at BE

Trade 4, Long, Win, Back to 0
Trying again, enter long above Pivot. Works this time and taking profits at daily break-even.

Trade 5, Long, Loss, Down 5 Points
Going long at signs of bouncing off 9EMA. Hits stop loss below 9EMA on spike down

Trade 6, Long, Loss, Down 11 Points
Another try on green candle making a new high. Hits stop loss on breaking below 9EMA again.

Trade 7, Long, Loss, Down 14 Points, Calling it a day
Looks like bounce off Pivot. Enter long. Stopped out below Pivot.

 

What a choppy chopper!

 

[nit2wynit]

Let me see what i can do today on the FTSE .  Keep te posts coming.  It's great to dissect it; good for learning.

Keep going bud.

[DSchenk]

Positive start in the new week.

4 Trades, 3 Wins, 1 Loss

Trade 1, Short, Win, Up 12 Points
On market open we see signs of rejection at 7360 resistance. Not looking like it's breaking above high of pre-market. Short entry. Taking profits at 200EMA.

Trade 2, Short, Win, Up 18 Points
Waiting on news release at 8.30am. Looks like news has negative effect on FTSE, entry short. Taking profits quickly as could be spike down with reversal.

Trade 3, Short, Win, Up 22 Points, Daily Target reached. 8.50am
Turns out to make lower lows. Flag pattern at lvl 7320. Short entry on breaking flag pattern. Exit quickly once daily target reached.

Trade 4, Long, Loss, Back to up 12 Points, ****
I was counting on a reversal pattern since break of mS1. However we made lower lows, breaking a support line at 7302, major support at 7300 and also S1. Then looking at consolidation above mS2. I enter long on candle making new high. Turns out to be false breakout and I get stopped out on the break below mS2. Unfortunate, because afterwards it turns around and finally builds the reversal pattern. ****, bad luck here.

Still ending the day up 12 Points, not the worst result, although the total move had a range of almost 80 Points, so there's a lot of room for improvement for me left as well

 

 

[DSchenk]

How's things all

Trades for today

3 Trades, 2 losses, 1 Win, Daily target reached

Trade 1, Short, Loss, Down 6 Points
Albeit trading above the Pivot, I feel short sentiment in the market today as seeing multiple rejection at VWAP and 200EMA. So going short at market open and getting stopped out. Bad start

Trade 2, Short, Loss, Down 10 Points
Still looks like not breaking above 200 EMA and staying above, so trying short again. Getting stopped out again. What is going on.

Trade 3, Short, Win, Up 20 Points, Calling it a day
One more try I told myself. This time it works out. Not getting stopped out and riding the trend making lower lows. Waiting on supreme court ruling which causes more lows. After the ruling has been announced it looks like a reversal is due, so I cover my position at my daily target lvl of 20 Points.

 

[dmedin]

I'm not sure why you are entering and exiting trades so often.  (Disclaimer: BENEFIT OF HINDSIGHT)

[dmedin]

You've got a clear sell signal here (downward sloping MAs, engulfing candle stick), you'd put a stop just above 7355 and let it run.

Edited September 24, 2019 by dmedin

[DSchenk]

35 minutes ago, dmedin said:

I'm not sure why you are entering and exiting trades so often.  (Disclaimer: BENEFIT OF HINDSIGHT)

Risk management my friend

But I agree, I am trying to do less trades per day. Ideally 2 trades should do the job with getting 10 points each.

3 trades today  - I'm quite happy with that

[DSchenk]

29 minutes ago, dmedin said:

You've got a clear sell signal here (downward sloping MAs, engulfing candle stick), you'd put a stop just above 7355 and let it run.

First of all this was pre-market, I'm not giving too much on patterns pre-market cause once the market opens these low volume patterns might get overridden in a minute

Secondly, stop above 7355 would've been too risky for my taste, when entering on market open in the 7345 area. Max risk I want to take is 5 points really. So stop above 7350 on the third try today worked out well with entry around 7345.

[DSchenk]

Holla

Bit of a weird trading day today. Still finished the day up 1 Point in the end
1 Point up is better than 20 Points down, so I'll take that.

4 Trades, 3 Losses, 1 Win, Up 1 Point

Trade 1, Short, Loss, Down 5 Points
Spike up on market open, but then looking to bounce off VWAP. Entry short. Getting stopped out at break of VWAP

Trade 2, Long, Loss, Down 10 Points
GBP is selling off, meaning FTSE should rise. Looks like consolidating with a potential reversal at mS1. Enter Long. Getting stopped out at break below mS1.

Trade 3, Long, Loss, Down 14 Points
GBP still selling off, but FTSE is going lower. What is going on? I go long again, but get stopped out at break of 7250 support. FTSE is showing unnatural behaviour. I decide to wait and see what's happening. I have one trade left in my daily risk

Trade 4, Short, Win, Up 1 Point
We see a break of pattern to the low side, then a flag. I enter short at the flag. This time it works out. I ride the wave until I can set my stop loss at daily break-even where I get stopped out shortly after.

 

Might see if I can make some more gains in the afternoon session.

Anyone else traded the FTSE100 today?

[Mercury]

Seeing as you asked, I did trade the FTSE100 (and the Dax) this morning to follow up my longer term Shorts on the US large caps breakout yesterday (and the previous day) [see my "Are we there yet?" thread in interested in the background to this].  I am up a combined 80 points the FTSE100 and counting on 2 positions.  On the Dax I am up almost 100 points off the pennant breakout.  These are all short term positions, my US positions are more strategic.  I am stop protected at break even and letting this run as I think there is a better than even chance this move has more mileage yet.  Critical decision point is perhaps another 150 points lower (FTSE).

 

[DSchenk]

Interesting @Mercury

Obviously more long term strategy than I do

What does 'A', 'B' and '1', '2' stand for in your charts?

Are you trading this on an 1 hour chart or using a smaller timeframe to actually place the order?

[Mercury]

@DSchenkWatching the soap opera that is the British Parliament live today so can't answer in too much detail [BTW, it is a genius strategy by the Government who are wiping the floor with the opposition where one would have expected the reverse today!].

Answers as follows:

• Longer term approach yes but I adjust according to the market circumstances so generally long term swing trading but will day trade fast moves short when they present themselves, as today.
• As and Bs and 1s and 2s are labeling used in Elliot Wave Theory.
• Normally I analyse on Monthly/Quarterly/Weekly then Daily then 1H.  I typically trade off the 1H within the longer time frame set ups but often do a check on the 15/5mins charts to ensure there is no imminent reversal in play.  For day trading a fast move I will use 5mins for swings and stops - this I do very rarely.

Hope that is useful.  Back to the parliamentary drama.

 

[DSchenk]

1 hour ago, Mercury said:

Hope that is useful.  Back to the parliamentary drama.

Thanks for the reply. Makes sense

I'm watching as well - great kick-off in the new episode. Was already running dry on quality content to watch in the last 2 weeks so glad it's back  

[DSchenk]

@Mercury Did you cover profits btw or get stopped out on the move back up to 7260 on the FTSE?

[Mercury]

@DSchenk, yes the panto season started early this year.  I thought the AG did very well and seems much more Prime Ministerial material than anyone since possible Thatcher, who, whether you like her or not, good PM material.  Frankly I think the opposition played right into the Governments hands.  General election odds must have shortened.

Stopped out for no loss on FTSE100, still in the Dax day trades.  Still in longer term US large cap Shorts too.  Switch focus to US on US open so will not reenter the FTSE today.

[Mercury]

To complete the interlude, I have closed out all my Shorts on indices and shorted Gold/Silver instead, which hit my sell criteria.  I now see my scenario on stocks, another leg up, as having started earlier than I had previously anticipated.  This change is on signals from my methodology for a reversal/swing on stocks and puts in play a higher high on Dax and FTSE (although not a new ATH).  Decent profits on all Shorts, apart from the FTSE, which played out at break even and live to fight another day.  Buy the dips still dominant but for how much longer?

[nit2wynit]

On 20/09/2019 at 08:02, Caseynotes said:

from right click on the market the 'Open ticket in new window' creates a deal ticket (as in @Mark27000 's post above) you can move to wherever you want.

Hi, Casey.  Late reply.  Is this the retail Plat you're showing me?  It's PRT I'm still trying to figure out.  Thanks

[Caseynotes]

45 minutes ago, nit2wynit said:

Hi, Casey.  Late reply.  Is this the retail Plat you're showing me?  It's PRT I'm still trying to figure out.  Thanks

yeah, what Mark was meaning was that he had the prt platform open for charting but also had the IG online platform open to grab tear off deal/order tickets to slap on over the prt chart.

[Mercury]

Just to round it off @DSchenk, as I am no longer day trading stocks with the change in direction, over night and this morning I believe we got confirmation price action that the bullish trend has resumed across the patch.  As mentioned yesterday I closed down all my shorts for profit and went Short Gold/Silver instead.  Last night I decided to go Long the Nikkei to collect the massive divi on the basis that the ensuing gap would be closed (see chart below).  I also went Long again at the bottom of the gap this morning and went long the Dax at the open but I have not gone in on the FTSE as I preferred the risk reward of the 2 I did go into.  I intend to hold these longs for a while to see where we top out, more on this in another thread later.  Good luck with the day trading, I think the prevailing trend will be long for a while now until we see the next turn (possible in late October...)

 

[DSchenk]

Thanks for your input @Mercury

It's truly been a crazy day for FTSE so far.

50 Points movement in first 35 minutes of the day. 100 Points in little over 2h.

I manage to reach daily goal of 20 points after 3 trades, 2 Losses, 1 Win.

Trade 1, Short, Loss, Down 8 Points
Break through pivot at market open. I go short. Snaps back up and hits stop-loss.

Trade 2, Short, Loss, Down 12 Points
For a moment it does look like it would bounce off VWAP and go lower. I short again, get stopped out on break above VWAP.

Trade 3, Long, Win, Up 20 Points, Daily target reached
I decide to take it easy and watch the market a bit to see what's going on. We see a massive surge to higher highs. I missed the breakout. Then got in at first flag pattern. Holding until daily goal reached.
FTSE is still rising, wonder how long it will last...

 

 

[Mercury]

Good job @DSchenk, although I don't trade like you do so maybe not the most qualified to opine.  As I mentioned previously, I think the rally will run to new highs and take a month or so to get to the next major turn.  Of course there will be a few twists and turns along the way.

[Caseynotes]

It was a nice move in ftse, drop down to check the pivot, bounce up straight through R1 and come to rest at R2.

M30 chart;

[DSchenk]

On 26/09/2019 at 10:32, Mercury said:

Of course there will be a few twists and turns along the way.

I'd rather wait for the twist and turn to play out and then re-enter at the bottom
Another point is, as I'm not having a lot of equity in my account at the moment, I'd rather use that equity to trade other assets in the afternoon, than keeping it in a potentially low volatile FTSE

But get your point. In hindsight it would've been good to just keep it in the FTSE yesterday, then would've been up now about 120 points. But would've, could've, should've ... you never know

[dmedin]

How come none of the great TA geniuses told me about this. 

[DSchenk]

Frustrating day for me, although managed to keep break-even in the end.
0 points profit are better than 20 points losses, right?

Lots of opportunity in the market though, just wasn't playing on top of my game today.

6 Trades, 4 Wins, 2 Losses; overall BE

Trade 1, Long, Win, Up 2 Points
At market open it was looking like we stay above the VWAP, so I was getting ready to place a long order. I was about 3 seconds too late, cause I was just busy setting my entry point as the FTSE broke out at the top and surged like it was on steroids. I was like god-****-it. What to do now. Wait for the move to finish, form a flag or still jump in? I decided to try if I can scalp a few points in the move up, which I did, but only got 2 points out of it.

Trade 2, Short, Loss, Down 4 Points
After a big green 5min candle, we often see a little pullback straight at the open of the next candle. So I went short at the open of the next candle for another quick scalp. Failed to take the 2 points though, which would've been possible and got stopped out at making new highs.

Trade 3, Short, Loss, Down 12 Points
This was the worst trade of the day. I became frustrated cause I missed the big move. Went short again - classic revenge trade. Obviously got stopped out.
I'm taking a few deep breath saying to myself, you can either call it a day now or try to fight back and might get back to BE. Decided to go with the latter.

Trade 4, Short, Win, Down 10 Points
Short on R1. Target was above VWAP, but reversed already at 9EMA. Got out for 2 points profit on move back up.

Trade 5, Long, Win, Down 8 Points
Entered long on move back up after 9EMA bounce. Reversed again at R1. I got out at another 2 points profit.

Trade 6, Long, Win, BE
This time it reversed until the VWAP and showed signs of a reversal from there. I go in long. Trade works out and I can set my stop loss at daily BE. Stop loss gets triggered after bounce off R1 again and retracing to 9EMA.
For a moment I'm thinking entering long at a potential bounce off 9EMA, but decide against it. Felt the luck was not on my side today, so didn't want to push it. In hindsight that long at 9EMA would've worked out perfectly and if held until 11am would've given me the 20 points daily profit target - what can I say...spreadbetting is not for fools

 

[Mercury]

2 minutes ago, DSchenk said:

I'd rather wait for the twist and turn to play out and then re-enter at the bottom

Wouldn't we all but the hard part is spotting all that and knowing when it has ended.  As it happens I fear the FTSE100 is playing on GBP moves, which is, to me, only ever a short term driver and typically where there are no other drivers.  Therefore I would be mindful of a potential reversal of the rally now, especially as other indices are not following suit and the Nikkei went the other way on its last trading day of the week.  US open will be the deciding factor here I think although if we do get that GBP retrace and turn into a rally I have outlined in another post then that might be added negative impetus to the downside on the FTSE100.  I am also expecting a short term rally on Gold/Silver, which might come in correlation with a similar move down on stocks and possible a drop on USD but over all I am Bearish USD and PMs in the medium term (the latter has already made its turn) and 50/50 on stocks with a slight edge towards another rally before a reassessment of where we might be int he cycle.  If I am right about Stocks being in an ending wave 5 phase then whip saw price action is likely to continue and we may see several wild spiky moves yet.  As I write the FTSE100 has just hit the Fib 62% whilst other are relatively subdued, which I find interesting...

[DSchenk]

 

15 minutes ago, dmedin said:

How come none of the great TA geniuses told me about this. 

Ahm, think Mercury said it yesterday morning

On 26/09/2019 at 09:26, Mercury said:

I think the prevailing trend will be long for a while now until we see the next turn (possible in late October...)

Edited September 27, 2019 by DSchenk

[dmedin]

4 minutes ago, DSchenk said:

Ahm, think Mercury said it yesterday morning

That fellow knows too much