Barclays Share Discussion Threads

[thetatrader] 21/10/2010 18:59

LOL !

:)

[kenbachelor] 21/10/2010 18:54

Robert - Frankly I don't care why, all I'm trying to create is a simple system that anybody can use to make money.

In the morning I have about a one minute window to get my trades in place and I can't possibly start to analyse why the market has moved, and even if I can think of an answer what do I do with it? If I decide not to trade, it's no longer a mechanical trade so you might as well just trade on your own initiative and forget what I'm doing.

[robertfaulkner] 21/10/2010 18:31

Ken it seems a really great system, but the more people question it the more likely it is to stand up to the test of time.

Where did that drop in the FTSE come from on such an up day.

Was it (In those first minutes) a true reflection of all the 100 FTSE companies share dealings?

Do some of the biggest get left out because the system can't keep up?

[kenbachelor] 21/10/2010 16:58

Robert I've posted the figures for you 2 posts above and suggested that you work them out for yourself rather than take my word for it, but if it will help here they are

Sell @ 5713 Size 20.4 Close 5757.86 = -44.86 x 20.4 = -£915.15

Buy @ 5746 Size 20.4 Limit 16.9 = +£344.76

£915.15 - £344.76 = Loss of £570.39

Yes I said £10 more than that, which I took off my spreadsheet but that works to about 12 decimal places so there is always a minor difference

[zulu001] 21/10/2010 16:50

Time will tell whether a larger margin (say 5 points) would ensure the right direction. For myself, the solid positive trend this morning on the Hang Seng assured me of the right way.

[capricious] 21/10/2010 16:48

71rich

You haven't removed your email address - you get an upsurge in junk email, but it dies down after a while.

[capricious] 21/10/2010 16:45

I think Ken would've classed this as a non trade day if the open was within 1 of the PP i.e 5714.

[robertfaulkner] 21/10/2010 16:37

Ken was today a strange day, it seems to me it was a very quick profit but could so easily been quite a big loss.

All figures from IG FTSE graph CLOSE number

4:30 Weds CLOSE 5729.8
7:59 Thur CLOSE 5710.7
8:00 Thur CLOSE 5706.3
8:01 Thur CLOSE 5703.5 (My open)

8:04 Thur CLOSE 5700 LOW OF DAY

Pivot point 5713 so if 8:01 close had been 5714 instead of 5703.3 you would have opened a sell 5713 which I think would have been a big loss.

What I'm getting at is, with such an up day, was it just very good luck a few points at opening either way went your way, or do you think the pivot system at least gives you an advantage on these closes days.

[ramesham] 21/10/2010 16:24

"We need to understand the workings of the FTSE on opening because if today is common we are relying on chance and that can't be a good way to invest/bet"
============

Any bet (on trading markets)is a chance.One can only mitigate losses and pivots are one very good way of doing that.Also tells one where to get out, before profits become losses...etc....Like today.

[kenbachelor] 21/10/2010 16:11

Robert - You seem to be very negative, but if the FTSE today had opened for me at the official price of 5,728.94 I would have lost £580.44 which is pretty trival bearing in mind what I plan to make in a year. Work it out for yourself, please don't rely on me.

Remember I need to average 2 succesfully closed trades a week to reach my target and you can forget non trade days or losing days because they don't make any difference. Yes I'll need to add to my bank if I get more than about 5 losing days, without a successful close.

[71rich] 21/10/2010 15:55

r/f i do not know why that happened,it might be the p.p are so good that we can
trust them with our money?

[robertfaulkner] 21/10/2010 15:46

71rich, why was there a slight drop on FTSE for 8 mins and then a totally up day,

Does it mean that the make up of the FTSE as a whole dropped for 8 mins then was up for the whole day.

Does a lot of bigger FTSE members go into a (something like a draw while they workout the price first thing if a lot of big orders are outstanding)

We need to understand the workings of the FTSE on opening because if today is common we are relying on chance and that can't be a good way to invest/bet

[capricious] 21/10/2010 15:36

Bloody American way!




"On one legal theory or another Judge Peck could rule that the clarification letter was never formally approved by the court and therefore is not protected by his sale orders," said Chip Bowles, a bankruptcy lawyer at Greenebaum Doll & McDonald PLLC in Louisville, Kentucky. "Far more likely would be partially denying part of Barclays's turnover motion and only giving Barclays a portion of the assets they are seeking."

Peck will be reluctant to overturn his entire sale order for "bankruptcy policy reasons," said Bowles. So-called 363 sales, which helped the former General Motors Corp. and Chrysler LLC to reorganize in bankruptcy and created jobs for 10,000 Lehman employees at Barclays, normally are considered final in the courts, he said.


I guess this refers to the $3b Barclays is saying they are stilled owed?

[nadamson] 21/10/2010 15:30

If barc lose the lehman case can they appeal ?

Its an outrage, you buy something from the administrators if there is something wrong with it, its tuff.

Bloody Septics

[71rich] 21/10/2010 15:20

r/f there was a slight drop,i think it was only 7 points before the difference,thats why it very important to get the opening right it can be very
close some times.

[wilba] 21/10/2010 15:10

US Value added tax. Lol.

[capricious] 21/10/2010 15:06

So from the various articles the Barclays vs Lehman case isn't particularly going Barclays way. I have a feeling this Judge will side with a post bankrupt 'US' company and creditors.

[robertfaulkner] 21/10/2010 15:01

71rich, what I would like to know is was it luck today that there was a slight drop on opening ?

If it had risen a few points on opening Ken would be in a big loss now.

So I/we need to understand, why was IG showing an expected drop of FTSE before 8am, was it because of the way the betting was stacking up?

Could IG want to catch a load of stops?

Does anyone remember what the expected FTSE was supposed to do today?

[purple sound] 21/10/2010 14:13

rainfall,
Has the sun got to you ?

[rainfall] 21/10/2010 12:45

28 and sunny here in malta. diamond is a failure and a liar where did all those billions go .we no where the 22m went in is pocket . the AHM WILL BE GOOD BE THERE FOR THE FUN

[71rich] 21/10/2010 09:10

r/f it all depends on the opening,but i see where you are coming from,it
can go the other way easy,well its work for me for the last 4 days.

[71rich] 21/10/2010 08:59

r/f the opening was 5706,pp.was 5713

[71rich] 21/10/2010 08:57

if below the p.p.and above s1,1 long to open at p.p and close at R1

[robertfaulkner] 21/10/2010 08:52

71rich, I think pivot point in header says open Short at 5713 (If FTSE had gone up a bit at 8am)

[montyhedge] 21/10/2010 08:41

FTSE one analyst saying 6500, good for big divi payers like Vodafone etc.