Indus Gas Share Discussion Threads

[bleunose] 30/8/2009 13:37

just looking for some kind of edge . not sure if its just my discipline trading the chop instead of the extreams or obvious targets . i think been able to cope and cut losses quickly if also something that only experiance can bring

[bleunose] 30/8/2009 13:33

thanks noon i have traded very small recently as i am all but broke mate . i seem to have improved just by reducing size as it seems to take more of the emotions out of the trade . i have just been concentrating on the reasons to take the trade or not ....i do think if i get my head right and dont overtrade i could do well ..time will tell

[noon] 30/8/2009 13:24

i posted this before.
as with other usual rules i.e trading small, trading plan etc.,i have been following below trading plan for last 6 months or so in a different account and very happy with it.

one thing i must add, after achieving my daily target i still trade but with much smaller stake.

On £5000 if I get 15 points per day on £2 stake which is £150/week, at the end of 13th's week I should have £6950.

By increasing to £3/point for next 13 weeks it should grow up to £9875.
By increasing to £5/point for next 13 weeks it should grow up to £14750.
By increasing to £7/point for next 13 weeks it should grow up to £21575.

i.e At the end of first year it becomes £21575 which is say 4.3 time of 5k.

Pot value after 2 years: £92k
Pot value after 3 years: £397k.
Pot value after 4 years: £1.7m.

[bleunose] 30/8/2009 13:11

ok cheers noon still learning curve

[noon] 30/8/2009 13:07

blue- ADVFN links in a header don't work.

[bleunose] 30/8/2009 12:52

weekly ukx

Index Value
Week's Close 4,908.9
Previous Weekly Close 4,850.9
Previous Weekly Open 4,679.5
Change +58.010
% Change +1.20%
Volume 4,857,000,000
Index Activity
Week's Open 4,881.2
Week's High 4,944.2
Week's Low 4,855.3
20-Week Close M.A. 4,434.8
50-Week Close M.A. 4,288.6
20-Week Volume M.A. 5,461,000,000

[bleunose] 30/8/2009 12:33

. 28 aug daily ukx
Index Value
Day's Close 4,908.9
Previous Close 4,869.4
Previous Open 4,882.6
Change +39.550
% Change +0.81%
Volume 1,070,000,000
Index Activity
Day's Open 4,907.6
Day's High 4,944.2
Day's Low 4,891.3
20-Day Close M.A. 4,755.6
50-Day Close M.A. 4,510.1
65-Day Volume M.A. 1,069,046,156

[bleunose] 30/8/2009 11:31

sorry about the delay i am trying some charts

not realy traded cable but i am going to havve a look if it respondes more to s/r and fibs then i may stand a chance

[rajstar] 30/8/2009 11:19

bleunose - many will reveal their trading systems via subscription their site ( not naming anyone here ). join the site and you will be following them until you are broke. and there are few ( as mentioned earlier ) who will inform and educate others with regards to their strategy and then it is upto one to learn, follow and improve this to one's own trading system. and lastly there are some, who are busy trading and managing their personal life that it is impossible for them to keep posting all the time.

i am at present not on either one of the three. i read quite a lot. learnt quite a lot from those contributors on the Ftse thread and have gained lots of tips. i will never say i have now everything to become a succesful trader. i will never believe that i have found the holy grail strategy to make 100 points a day.

As mentioned earlier, i am working on a strategy for cable, early stages still, not sure if it will work and will post it here in Dec09. however if i will post on and off if i do find anything before that or if i put my hands up and call it a day ( i never will call it a day!! )

i would suggest others also do the same, find a strategy that works, give yourselves 3 months to test it and then come back and post it if you want to share in Dec/Jan.

[bleunose] 29/8/2009 20:39

rajster thanks for the post . it can be a lonely life on here really so i just wanted to get my head around where i was going wrong help my self and maybe help a few others .i am a stuborn old git really who wont quit, if i had i wouldbe lot
richer. so i like yorself am really learing this the hardway ... i wuldnt expect to many to open up and reveal thee own traing systems as no doubt its taken them many years and a lot to get where they are .

ive been learing my trade for 30 years and i am pretty good at it .so i quess ive got a few more years of learning to go

[rajstar] 29/8/2009 18:24

bleunose - excellent thread. it needs lots of courage to come out, create a thread and post your losses and trading experiences. hats of to you mate.

Rs2000 - thanks for your contribution also, i have learnt quite a lot. i lurk around on the ftse bbs and have learnt quite a lot from all of you..including jafar, noon, ecomkid etc and many others. i am still learning ( have been for the last 2yrs ) 2hrs a day (as have a day job)with losses

like all, i have read many books on trading, and got stuck with point and fig. read jeremeys book and subscribed to updata at £118 a month for 8months. made losses on ftse..my s/l used to get hit. got rid of updata and back to basics.

Jaffar's one post to me some months back hit me really hard. it was " you need a edge" to trade. i have since then woken up and realised that you need a strategy to trade - plan your trade and then trade your plan. no emotions attached.

i am working on a simple strategy to trade only cable. i will post when i am ready with it. too many indicators = too many bad trades and losses.

when we start as traders, we need one holy grail strategy that all are using and making profits. here is how one starts making losses and being wiped out.

Simple Rules
- Keep emotions out
- Trading hours ( how many hours do you have spare )
- Trading strategy ( you need to spend lots of time, months to find one)
- Plan your trade - no emotions here pls
- Trade your plan - enter your trade, put limits in and get up and go for a walk

i keep on reminding myself of the above.

[rs2ooo] 29/8/2009 16:01

I think you've nailed rule 1 and any subsequent rule is likely to be part covered by rule 1.

Any one of these could form part of a rule:

1) Don't over trade. If you can't see a perfect set up, don't trade it.

2) This rule wont apply to every type of trader but I use it. When your set up is complete, don't hesitate with your entry, press the damn button immediately. For example, if you are looking for a long entry on a support line, Buy on the touch of the line, don't wait for a confirming bounce - because if that bounce is a fake you've just entered at the worst possible moment, whereas if you hit the button on the line, it will bounce straight into profit, giving you the chance to get out at break-even if it does turn out to be a fake bounce. On the same token, if the price goes below the support, get out immediately. You may lose a few points, but there's nothing worse than watching it go further away from you and hoping it will come back.

3) Set yourself a minimum of 3 reasons for entering any particular trade. No 3 reasons, no trade. For example:

1) Bullish falling wedge
2) Double bottom with XYZ date
3) MACD positive divergence
4) RSI below 70

The more reasons you have the better. That way, if the trade goes against you, you can sit comfortably in the knowledge that the trade WILL eventually turn in your favour. Again, nothing worse than taking a loss on a trade only for it to turn around and go exactly where you expected it to go in the first place.

4) A cliche, but "Plan the Trade and Trade the Plan."

5) Stick to one thing to trade until you are consistently profitable. Watch the candles form and learn how they move and react to S/R's. Understanding how a price moves can give you advance warning of impending moves or even fake moves.

For example, the DOW 1 minute candles approach resistance, they stop around 3 points below the resistance, hover sideways for a couple of minutes, then a single candle appears and suddenly drops 10 points to just below the 20MA. This is where the bears start shorting thinking the Resistance has done it's job....but this is where I go long because I know the next 2 candles are going to fly straight through the resistance. Happy hour is the best time to see this in action.

Different people like trading different things. I like the DOW because of the big moves it makes, but DOW can catch you out. I like Cable more because it conforms so well to basic charting. You need to be on the same wavelength as the Market Makers and you have to outwit them on anything that is manipulated by big boys, i.e Indices and Oil. Forex on the other hand is not manipulated in the same way. You have access to the same tools as the pro traders. You are sitting at a screen trying to figure out the next move, just like they are. News is released to everybody at the same time and nobody gets "insider info" like they do with Indices. So think of these factors when trading.

6) Check what news is due before taking a position and never try to trade news - it's impossible to know what the real direction will be until a trend is started. I've lost a lot of money in the past by going long when it spikes up on news, only to see it suddenly turn around. One of my bigger losses was going short on 29th September 2008 when the US bank bailout was voted "NO". The DOW dropped 800 points in under an hour. I took a position that was too large for my small account balance and could only afford a 50 point stoploss. Just as I took the position, the market bounced 50 points upwards in under a minute and I was stopped out....then I sat helplessly watching the DOW lose 700 more points! At £10 p/p that would have been £7000 banked, but instead I lost £500 in under a minute.

7) Remember, you are playing a dangerous game against professional theives. They want your money and they know how to get it. Don't for a second think that this game is easy, stay one step ahead of them whenever possible.

Hope this helps bluenose.

[bleunose] 29/8/2009 13:57

i wont move on to rule 2 until i have feedback on what u lot think should be rule no 1

[rs2ooo] 29/8/2009 11:47

This guy is a trading psychologist and his blog has some brilliant posts.

I have found some of his material is very difficult to read - not because it is technical, but because sometimes one wants to avoid the truth because it hurts:



Here are some other blogs that I read almost every day:









- Very good.




















Here is some educational material:












Basic, but great for beginners:

[bleunose] 29/8/2009 09:19

just a snippet from that article which i found really to the point

Perhaps it is because trading normally is ten percent learning
about the market and 90 percent learning about you.
Unfortunately, if a trader doesn't know himself, the markets are
a very expensive place to find out. If traders were to spend half
as much time studying their own behavioral patterns as they did
studying the markets, the benefit to the bottom line would be
much greater than having unlimited access to every course,
video, system or technical book ever written on the markets.

[rs2ooo] 29/8/2009 00:04

Benno posted this on the Index thread.

It's a really good article and for me reading it was as if I'd written it myself i.e so many truths in there.

If you glance at the article and dismiss it (as I would have done a couple of years ago), I think you are either a pro or are still going through the unconscious incompetence stage of your learning curve:

[snap23] 28/8/2009 01:13

Yes I've seen that before mate thanks.Hope it works out for you you seem a lot more educated than me so you should be OK,dont forget margin,margin,margin,dont chase your losses.Trade and if you gain be happy if u lose learn but dont chase it,unless yer me lol.Enjoyed 2nite changing ideas.

[snap23] 28/8/2009 01:06

Saw that the other day FTSE was down bout 40 points no kidding 3 hours later was positive,and believe or not I went against the trend that day but my own system said buy.HEAD=PLANK do it all the time,looks as though its goin lower short but keeps goin higher,derrr u live and learn.

[bleunose] 28/8/2009 01:00

basically yes ( but not always )..when the market closes . futures still trade and take the price up or down with it .. when the cash opens again at 8.00 am there will be a gap in price . i am no expert but it is one of the lines i have drawn on my chart when i wake up ...by the way if the ftse ends up at 9500 were all shortin it lol .. ive added some infor in the header about gaps they are very important


Fast Facts

In general, as the size of the opening gap increases, the probability of the gap closing in the same trading day diminishes to a certain threshold.

During the trading day, after a certain period of time the longer a gap remains open the less likelihood it has of filling before the close.

Most stock index futures and stocks have a gap "sweet spot" or range in which the probability for closing the gap is relatively consistent throughout the range.

The key to successfully trading gaps is to identify these sweet spots by analyzing the data and trading it accordingly.

Unfilled gaps can act as targets for future price action.

The longer a gap remains unfilled, the less significance they have for attracting future prices.

In many cases once the gap is filled, price reverses and trends in the opposite direction.

Opening gaps in stock index futures that gap open in the upper/lower range of the after hours globex session have a high probability of turning into professional gaps which will continue to run instead of closing.

Gaps that occur on low volume have a better chance of filling then ones on high volume.

Huge opening gaps in individual stocks will generally need to consolidate before they start to fill and may continue lower till they bottom and reverse

[snap23] 28/8/2009 00:54

to tell the truth dont know much about gap fills read about them but still confused must be thick sorry.Is it if the ftse ends at 9500 but the open is 9465 that it will go to 9500 again??

[bleunose] 28/8/2009 00:49

i will put some work in on here soon and hopefully get some of the pros on here . alfg , toml , rs etc why not share our trading thoughts . can only be a good thing if we can keep the nutters away ....

[rs2ooo] 28/8/2009 00:46

Thanks bluenose. You have a great thread here, which I directed a newbie to earlier, though I don't think he bothered.

The posters "cojones" and "GSands" produce some interesting charts too, maybe worth inviting them here.

[bleunose] 28/8/2009 00:45

snap i am going to start to get some stats about futures end of day gaps fills as usually the 4.30 will get filled .. it was + 50 .. but this market is been pumped up imho by the quantative easing is whats driving this anyones quess when it will stop

[bleunose] 28/8/2009 00:42

cheers rs . i am chuffed your trading is now working and you nave gained an edge great stuff . keep up the posting as you say it obviously makes you look at each trade in more detail