Jump to content

FTSE100 - Daily Trades


Recommended Posts

Stop placement is a critical part of a trading strategy no doubt @DSchenk but I cannot help you with 5mins charts on that except to say if you have indicators telling you to enter a trade and then price action does not follow your plan then you have to get out and seek a reentry at a later stage (or reverse your bias if appropriate).  I would always prefer to get stopped out a few times for a small loss and catch the big one I was seeking than hold too far into the red.  Of course it all depends on order size and the size of the move you are seeking vs the stop out size and number of attempts.  Losses are part of trading, as many of the top traders over the years will attest to, you have to learn how to lose before you can learn how to win, seems counter intuitive but that is also synonymous with trading, in my opinion.

Due to the nature of my method and the timeframe I trade in I can't really advise you on 5min chart day trading.  I can only discuss the longer term trend situation and suggest that you want to be careful trading against that trend.  With respect to the FTSE, and most stock indices, my assessment is bullish in general but with a lot of whipsaw potential while the markets remain in trading ranges.  Only the US large caps seem intent on making fresh ATHs, which is not a situation that is sustainable long term of course.

 

Link to comment
16 minutes ago, DSchenk said:

Thanks for the analysis @Caseynotes

Should've avoided the 'market open whipsaw' clearly :D

Not too sure yet about that Stochastic indicator. Why not just use an RSI instead? Seems to look similar to me, but RSI looks simpler with only one line

yes, good point, both are very similar (rsi and stoch) and both are good at picking up divergence which shows a lack of enthusiasm to keep pushing price on. So really just a matter of preference but don't use both as they are trying to tell the same story and discrepancies will confuse the issue. I prefer stoch because of the more pronounced wave rhythm, you can use the 2 line cross or remove one line and use the break out of obos (over bought/over sold). RSI I like the bounces off 50.

Edited by Caseynotes
Link to comment
11 minutes ago, DSchenk said:

Not got anything out of the market today either.

Gonna look for new strategies, different assets, different timeframes, ...

Any suggestions welcome.

Also probably back to Demo for a while.

yes, keep away from ftse and gbpusd until brexit is sorted, yesterday was deal done, then last night no deal, then this morning deal done at 2am news released about half an hour ago, that's why it's all over the place.

look at these dax and ftse HA M5 charts.

image.thumb.png.e84f4c0fc72dcb49f85a038ced528e3d.png

 

Link to comment
41 minutes ago, Caseynotes said:

yes, keep away from ftse and gbpusd until brexit is sorted

Really?  I would follow the charts ... everyone (including Reuters, the IC trader) was saying the pound can't possibly keep going higher, then it will go higher because old shorts were being unwound, and now it can't possibly go higher, meanwhile it keeps going higher and higher ... follow the charts, ditch the preconceived notions about what the market 'should' be doing, right?

  • Like 1
Link to comment
4 minutes ago, dmedin said:

Really?  I would follow the charts ... everyone (including Reuters, the IC trader) was saying the pound can't possibly keep going higher, then it will go higher because old shorts were being unwound, and now it can't possibly go higher, meanwhile it keeps going higher and higher ... follow the charts, ditch the preconceived notions about what the market 'should' be doing, right?

the problem is the constant stream of contradictory news, it's like a drawn out central bank chair presser with price reversing at the end of every sentence. so you get a chart with lots of spikes and candles with long tails both directions, that's hard to keep up with and takes a lot of concentration as there is no confidence in the longer term direction.

image.thumb.png.c46724e71ab8682f6b2e96dc23946d42.png

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • Imagine a world where tokens are not just static assets but dynamic entities with executable scripts, thanks to ERC-5169 and TokenScript brought to life by the ingenious minds at Smart Layer. These technologies empower tokens to carry out intricate logic and front-end interactions, opening doors to endless possibilities. Trusted by over 1200 developers and 30 major brands, Smart Layer isn't just a concept; it's a proven solution embraced by industry leaders for its ability to tackle integration, privacy, and trust head-on. It's more than just a suite of technologies; it's a catalyst for the tokenized web revolution. At its core, Smart Layer introduces a paradigm shift, ushering in a trustless environment where token logic reigns supreme. Smart Tokens, the building blocks of this new era, encapsulate business logic in a blockchain-based format, enabling seamless interactions across systems and tokens. Tokenization becomes the linchpin of this transformative journey, as goods, services, and digital rights morph into programmable tokens. This not only streamlines integration but also fosters frictionless markets and empowers users in the digital realm.  As we look ahead to the next generation of the web, Smart Layer stands tall as the integration bus, connecting disparate systems and enabling limitless possibilities. It's not just about decentralized execution; it's about scalability, security, and a decentralized future where interactions are complex yet seamless. In this narrative of innovation, the Smart Layer isn't just a piece of the puzzle; it's the cornerstone of the Internet's future, a programmable service network facilitating decentralized interactions and shaping the digital landscape for generations to come. Am completely immersed with the ideology that this amazing innovation will reign supreme in this evolving industry and the tokens holders will have every reason to celebrate in the nearest future. Do you guys share the same sentiment or you think it's another over hyped project.
    • Blockchain technology has proven effective in various sectors where its use has been employed, and now businesses want to utilize its intelligence to raise user experiences and productivity. Sadly though, two major hurdles stand in their way: complex integrations, and data sharing regulations. Where tokenization promises to proffer solutions, scale and functionality limitations have halted its breakthrough; enter Smart Layer. Smart Layer promises us a new way to deliver business services that will unlock the next era of digital experiences. While current token functionality is limited by smart contracts, Smart Layer new token standard (EIP-5169) enables tokens to become Smart, and go beyond assets to deliver composable business services, thereby resolving the issue of extending token functionality. Through Smart Layer model, Web2 businesses are bound to build seamless user experiences by delivering more portable and composable services through tokenization, evading the need to build complex integrations with multiple chains. Smart Layer simply captures value with every integration and issued token, as businesses easily tokenize their experiences and services, and paves the way for seamless transition of businesses from web2 to web3. Smart Layer runs as a token-incentivised network of service nodes powered by Smart Layer token ($SLN), a token that has gained global attention thanks to its vast utilities and huge airdrop. Leading exchanges such as Bitget has also indicated interest in listing $SLN when the liquidity threshold is met. Your thoughts on this exciting project?
    • As blockchain technology and cryptocurrency adoption continues to surge, a lot of newbies seems to get discouraged due to the complexities involved in navigating through this evolving industry hence the reason why devs are constantly looking for ways to bring innovation that could ease the understandings of people embracing this industry. Thankfully IQ came through with a brilliant innovation where blockchain and cryptocurrency knowledge thrive. There, you'll find a wealth of wikis covering everything you need to know about the crypto world. It's not just an encyclopedia; it's a tool to empower you and shape the future of blockchain. Interestingly they don't rely solely on human effort. Their partnership with artificial intelligence, including OpenAI's GPT-4, helps scale content and make it more accessible. They're all about sharing knowledge in an easy, intuitive way. At the heart of their ecosystem is IQ.wiki, a hub for the curious, the seekers, and the scholars of blockchain. It's not just a source of information; it's a community united in the quest for understanding and growth. And powering it all is the IQ token, a symbol of commitment to a smarter future. More than just a cryptocurrency, it bridges the gap between artificial intelligence and blockchain, driving towards decentralization and empowerment. With a staggering 1173% up from the previous ATL, the tokens continues to get attention of both traders and investors alike and with many more CEXs now listing it on their platform, I think this AI token could follow the pattern of other top AI projects like TAO and AGIX or even surpass them. What are your thoughts
×
×
  • Create New...
us