Indus Gas Share Discussion Threads

[bleunose] 17/8/2009 08:27

ive been looking at the daily macd for what seems a lifetime and it shows -ve divergence so its got to come off soon ...i was telling myself this for weeks

[bleunose] 17/8/2009 08:24

4640 was the bot of last weeks candle so yes (maybe) lol . THey take this market anywhere they like mate ..I cannot think for a minute they (the goverment will let this drop too far ) Theve pumped in billions in quantative easing so who really knows

[macs] 17/8/2009 08:17

Just for a bit of fun: If UKX closes today below 4640 (now 4636)we will have seen the top of the uptrend which started on 13 July.... What do you think?

[bleunose] 17/8/2009 07:45

Cheers Macs , Had a demo on sharescope a while back do u recommend it. Seems ok for the filters saving time i guess trundling through endless charts

[macs] 17/8/2009 07:16

bleunose, I first became interested in TA in 1959 when I joined a City Accepting House. I am an investor but also do some short term trading. I use Sharescope Pro and spreadbet with Selftrade. A candlestick bearish engulfing is a pretty reliable indicator. Hong Kong not relevant. There is no magic time scale or indicator(s). TA is interpretive. Good luck.

[bleunose] 17/8/2009 06:50

Hong Kong down 3% so looks like a red day .. SO which indicators work best and in which time scale then is what i want to find out from u lot .. what do u use ?

[bleunose] 16/8/2009 20:14

all i would be interested in is the futures action to see where they want to take this tommorow we are at the 38 fib so its an interesting level

[bleunose] 16/8/2009 20:07

in my opinin if u mean the daily candle then its almost a doji which as rs explains is usually bearish .in a extended uptrend but the body is favouring slightly upward

[macs] 16/8/2009 19:17

bleunose
Does the FTSE 100 bearish engulfing at Friday's close mean anything?

[bleunose] 16/8/2009 19:02

thanks rs for the macd 3 wave example

[bleunose] 16/8/2009 18:30

First attempt at a chart longterm showing the retrace back to fib where we seem to be having trouble getting past

[bleunose] 16/8/2009 17:55

hi guys been watching my team against man u . If you have any input into what timescales work best for u i would appreciate any ideas macs i use ig . I have an account with them and World Spreads

[macs] 16/8/2009 17:45

bleunose What software package do you use?

[eenyweeny] 16/8/2009 16:18

bluenose, I wish you good luck with this new thread, a damned good idea.
I will try and add my own thoughts to it in due course.

[andyb1979] 16/8/2009 12:05

Edit: The above chart, don't look at that and say "That guy said 1050 is the top, Im short all in on margin!"

I will be trading it like this:

Long up to 1050 area, at that point any weakness, close long

A top typically has a few days of spiking where it tries to go up, but cannot. At that point I will short with a small stop, about 10pts above the high. I'll risk no more than 10% of my account size on this.

Then if it moves in my favour, stoploss to break even after a few days, start adding on any rally, pyramiding the trade.

That way risk is minimum, reward is maximum.

[andyb1979] 16/8/2009 12:02

bleu you may be surprised to know many of the best traders out there started off their careers by getting wiped out. That's not to say a wipeout is a good thing, but it is to say that the experience of admitting you were totally wrong and realising just how dangerous the game is, often sharpens the mind and makes for a much more rounded trader

I put this vid in the header of my thread:


Its basically an example of how to manage money and combine swing trading with a day trading technique.

May I also recommend this book:



It shows how simple price action can be interpreted to give a good risk:reward swing trades on the indices.

However I think you will find, get your trading style perfect and you will still have to contend with psychology. That is really what you should attack first.

Try using a trading simulator, I used the one at www.etradespreadbetting.com for months. Pretend its real money and it matters. Don't do anything reckless you would not do with real money.

Using this helped me to gauge market direction, and let me know what mistakes I was making cheaply. Then later I moved to real money, and I kept it light. I am still 50:50 in my trades, not an expert by any means. I know if I put £10k in my account I stand a good chance of losing it, so instead I just trade on £1k. When I am consistent (getting there, but not quite), I will add more funds.

Ok gotta go, last thing, chin up mate and I hope you pull through. Oh and you can post an image like this:

<img src="linktoyourimage.jpg"/>

so this

<img src="http://i137.photobucket.com/albums/q217/andyb1979/SPXA618C.png"/>

gives you this



I use photobucket to upload charts, but you can use anything really. Advfn lets you store and post charts very easily with the chart grabber tool.
Hope thats helpful :-)

[bleunose] 16/8/2009 10:07

. believe me its hard admitting to getting this wrong but if you cannot learn then you wont move on

[bleunose] 16/8/2009 10:03

Hi MC

I was a bear recently and didnt close heavy loosing position when in hindsight i should have . Bad trade sizing and a run of losses just finished me off . i agree that one if not the most important things when you are trading is cutting your losses before its too late

[mornington crescent] 16/8/2009 09:56

bleunose - 15 Aug'09 - 12:54
After been wiped out receently i just wanted to .....


Hi bleu
If you have been 'wiped out' then I suspect the problem may not necessarily be
with your indicators but in your willingness to accept you may have got the trade
wrong and to cut your losses quickly so they remain small.

[bleunose] 16/8/2009 05:00

Candlestick formations

[bleunose] 16/8/2009 04:53

Thanks RS . Ive found a u tube video on Doji ( spinning top candle paterns )



anotherf one here