Indus Gas Share Discussion Threads

[snap23] 27/8/2009 23:40

Was gonna short FTSE at 4902 but bottled it goin lower now,will watch a while.

[rs2ooo] 27/8/2009 23:37

I was back there editing my post not realising everyone was still up posting!

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bleunose - 28 Aug'09 - 00:24 - 96 of 97

please tell us whats changed your trading around . ive noticed that you seem to be getting a lot of winners lately ...

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Not sure if your question was posed at me.

If it was, my answer is:

1) Discipline
2) Staying calm and rational, i.e having a trade under water and being able to look at the chart objectively as if I wasn't in a trade.
3) Posting all my trades live. I can be self concsious, so by "having" to post my trades live I tend to stay away from the more risky trades that may make me look foolish/amatuerish.
4) Some might find this odd, but I have watched 1000's of hours of 1 minute candles, particularly on DOW. 1 minute candles give me an idea of strength and volume. For example, myself and many others were preparing to short the DOW at 9568 tonight on the touch of the top channel line - the last hourly candle on the DOW chart I posted a few posts back. I could tell by the 1 minute candles that the channel was going to get broken to the upside - before they even got to it.
Also look at the 1 minute candles on DOW when you are near a top and you will see they are all very spikey (long upwards tails), whereas a 5 or 15 minute candle may not show this until it's too late.

Hope this helps.

[snap23] 27/8/2009 23:37

Iv'e learnt that if it turns against me I get out,but saying that had a cable long weds I think and it turned bigtime,in the end had 4 which went to 2 lost 277 quid but ended up 305 up I kicked myself twice lol,so yes I do it too,we all do.

[snap23] 27/8/2009 23:27

He's good with the charts and fib counts.

[snap23] 27/8/2009 23:26

Getting there 200 points a day lol he ought to be a millionaire,lol.

[bleunose] 27/8/2009 23:24

please tell us whats changed your trading around . ive noticed that you seem to be getting a lot of winners lately ...

[snap23] 27/8/2009 23:23

Its all about leveredge? if you have enough pot and a lot of time it will always goin your favor,thats another point 5 points more on my trade today and I'd have got it.happened to me twice now but I dont like putting more and more on if its gonna go its gonna go.

[bleunose] 27/8/2009 23:22

hi rs . i was a member with hi there so channels are on my shopping list mate they do work . but you need rsi macd cross to back the trade up imho .. well done lately mate u seem to be getting there

[bleunose] 27/8/2009 23:20

snap what nobody ever tells u or can show you is emotions ...

greed , anger , boredom , thrillseeking ,gambling ...i think i will do some study on these as its what chips away at your pot and messes with your trading . Risk Reward and Trade sizing is critical

[rs2ooo] 27/8/2009 23:19

Another tool that is excellent if you get right....channels.

Here's one from today on the DOW.

The top resistance line I had already drawn after it had been touched by 2 candles. By copying that and pasting it to the 26th August 2pm candle (the big red one in the middle touching the bottom channel line), we were able to accurately predict a target to close short positions as well as a target long entry at 9456 which also happened to combine with a support line:






Here's another one on Cable from a couple of months back where by pasting the bottom channel line to the spike at the top of the chart we were able to predict a possible short entry which coincided with the 50% fib retrace - before the 2nd touch of the upper channel had even occurred.

Although the chart doesn't show you what happened next, I can tell you that I shorted at the very top of the 2nd touch of the upper channel and collected nearly 400 points in the following 3 days without the trade going a single pip against my entry point. From memory, Cable fell to around 1.5800 ish from that entry:

[bleunose] 27/8/2009 23:16

dont forget you are playing against the best minds in the world so we got to get an edge quick or they will have your money

[snap23] 27/8/2009 23:14

Thats where I usually make it bleunose,but as I say I cant leave it alone I can make 10 points 9/10 everyday but I always keep going and that is what takes my pot eventually.Gambler at heart I think.

[bleunose] 27/8/2009 23:11

i did some analysis of my trading recently . my first 1-3 trades early in the day are always my best . why

i have studied previous action and i have a fresh mind

i will go into some detail on this over the weekend when i get some more time

[bleunose] 27/8/2009 23:08

snap it is a big learning curve mate . leaving trades while u aint there usually ends in the same outcome loss . i think you trading later on in the day also ends in loosers . why

its chop chop time from 5pm until 8 pm usually . 6.30 gets some moves but it is where they can chop u up ... trading the happy hour 8 - 8.30- 9.00 pm is where the action usually is later on

[snap23] 27/8/2009 22:53

Been on afters so did a bit this morn,trouble with me I have a system which seems to work most of the time but I have to keep on going,left a short open when I went to work on a limit and Iv'e told myself time and time again dont do it,so made 70 points this morning but lost 40 with that last one,Alan u stupid git write it out a 100 times u idiot.Good trading all.

[bleunose] 27/8/2009 22:36

not been very active of late but i will start to add some charts when i can find the best and quickest method so we can all do some research into best indicators maybe discuss the ftse each day and analyse what happened . today was a nice sell off . the trade which i would have took was when the price hit futures low from the 25th also had a channel with rsi low . a good risk reward trade

[snap23] 27/8/2009 22:30

Cheers bammbamm

[bleunose] 27/8/2009 22:29

http://i906.photobucket.com/albums/ac264/bleunose/27thtradeoffthefutureslow.jpg//a>

sorry peeps just doing a bit of homework on the charts showing the reversal off futs low on the 25 th

[bleunose] 27/8/2009 21:59

Day's Close 4,869.4
Previous Close 4,890.6
Previous Open 4,901.0
Change -21.2300
% Change -0.43%
Volume 913,000,000
Index Activity
Day's Open 4,882.6
Day's High 4,906.2
Day's Low 4,855.3
20-Day Close M.A. 4,740.6
50-Day Close M.A. 4,498.9
65-Day Volume M.A. 1,070,061,541

[bammbamm] 27/8/2009 21:52

Snap/RS, Here's an embedded stochastic below 20 in a downturn.
Notice the small rally yesterday and day before but stochastic stayed below 20 indicating a possible bull trap. It went on to make a new low today (chart says yearly but not 100% certain on that). Personally, in such a situation, I would wait for a stochastic reading to close above 20 before considering a buy.

[majja] 26/8/2009 21:43

Good thread Bluenose! sorry to hear of your loses, been there since trading for two years and still havent recouped my losses, still havent given up though! Im either a fool or determined to win....hopefully the latter, time will tell. Think you should put the link of post 46 in the header, always good to remind yourself the basic pointers.

Good luck!

[bleunose] 26/8/2009 20:36

Day's Close 4,890.6
Previous Close 4,916.8
Previous Open 4,871.3
Change -26.2200
% Change -0.53%
Volume 900,000,000
Index Activity
Day's Open 4,901.0
Day's High 4,927.1
Day's Low 4,872.4
20-Day Close M.A. 4,728.7
50-Day Close M.A. 4,487.1
65-Day Volume M.A. 1,069,692,311