35854 replies to this topic

[grantmu]

Not wanting to know your business but are you trading the Alme? The mini Alsi as it were. I think that I should switch as I am still

with the Alsi. Is there the same volume and is it easy to do a trade? 

This type of trading seems to work OK on the IG type markets so the SAFIX market maker. It has very good margins put you end up crucified if you are on the wrong side of the trade, this would probably work on most mini systems. This kind of trading is more the 1 or 2 day trades provided the market is moving in a direction, the sideways stuff is more difficult so you may end up in a trade for 5 days with the first day moving followed by 3 days sideways and the last day making you money or dropping you out. 

Edited by grantmu, 03 July 2014 - 07:48 PM.

[Hedge]

I am sure everyone trading will say they have been in the same spot as you are now, I know I was. 

 

I found that I needed to slow down and make things as simple as possible, so I have 2 charts open on the T40, the 10 that I watch all the time and the 30 to slow me down, I found that finding an entry point I used to jump right in, now I see the entry on the 10, then do verifications with where the MACD is, where is the stoich, what is the direction, is it after 930 in the morning, is the FTSE in daylight savings or is the FTSE open, where am I in the bollenger. If all that is OK then I jump, all that time may loose me 10 points but I have a better chance of mitigating the risk.

 

I also needed to stop going for the big one, if I have 5 contracts at the start of a run, I may sell 1 or 2 at the first stop off where the market goes sideways, sell another at the next stop and so on. I make less overall money but the money I have made is in the bank.

 

money you make in 5 minutes, wealth take years.

 

G 

Not wanting to know your business but are you trading the Alme? The mini Alsi as it were. I think that I should switch as I am still

with the Alsi. Is there the same volume and is it easy to do a trade? 

[grantmu]

Thanks, Grantmu for that and I hear you. The 30 has done well but also had a down till 25/6 then up +-700 then down then the present good up run. I also know that what one 'thinks/feels should not be part of trading but at these levels I was just loath to trade long. But as I said this is not the way and just trade the system, whichever one that may be, is the way to go.  But then trading is not easy and not many actually make money in this game. It takes discipline, belief in the system that one follows, take the inevitable losses and guts. And good trading to you and lots of the good stuff in your pocket. 

I am sure everyone trading will say they have been in the same spot as you are now, I know I was. 

 

I found that I needed to slow down and make things as simple as possible, so I have 2 charts open on the T40, the 10 that I watch all the time and the 30 to slow me down, I found that finding an entry point I used to jump right in, now I see the entry on the 10, then do verifications with where the MACD is, where is the stoich, what is the direction, is it after 930 in the morning, is the FTSE in daylight savings or is the FTSE open, where am I in the bollenger. If all that is OK then I jump, all that time may loose me 10 points but I have a better chance of mitigating the risk.

 

I also needed to stop going for the big one, if I have 5 contracts at the start of a run, I may sell 1 or 2 at the first stop off where the market goes sideways, sell another at the next stop and so on. I make less overall money but the money I have made is in the bank.

 

money you make in 5 minutes, wealth take years.

 

G 

[Hedge]

Thanks, Grantmu for that and I hear you. The 30 has done well but also had a down till 25/6 then up +-700 then down then the present good up run. I also know that what one 'thinks/feels should not be part of trading but at these levels I was just loath to trade long. But as I said this is not the way and just trade the system, whichever one that may be, is the way to go.  But then trading is not easy and not many actually make money in this game. It takes discipline, belief in the system that one follows, take the inevitable losses and guts. And good trading to you and lots of the good stuff in your pocket. 

[Vertebrae]

OK I know I should have seen it....

 

[grantmu]

I don't know if I am alone in this but I have been having great difficulty in taking a trade over the last few weeks. At the levels that the market has been reaching one is loath to take a long and with the strength too nervous to short. Very frustrating and in my opinion very difficult to trade.

Have to leave it to the Elliot experts. 

Trading the trend is the answer to your problem, everything up till now says that the market is pointed up, even though the market dropped a bit this afternoon tomorrow morning I Will make my plans in the direction of up. I will continue that until the 30 minute chart starts to show a turn. I may be a bit more hesitant and possibly get out of trades to early. I would say a confirmed turn would require at the very leased a MA cross of a 20 and a 50 line on a 30 min chart, even then I would only start to commit more contracts down when I see the same thing on a 2 hour or more sheet.

[bear catcher]

Sell off in US before holiday seems very unlikely atm

[Hedge]

I don't know if I am alone in this but I have been having great difficulty in taking a trade over the last few weeks. At the levels that the market has been reaching one is loath to take a long and with the strength too nervous to short. Very frustrating and in my opinion very difficult to trade.

Have to leave it to the Elliot experts. 

[Vertebrae]

Smelling a 2nd wave. Uptick waves short bi bi.

[bear catcher]

Us is flying looks like they not scared of interest hike and Qe taper

[Argento]

So we have a very overbought 5H macd and strong negative divergence on the 60min chart, so something red is coming!

 

This wave was very impulsive and normally indicates on a 5th wave so I see this as the final minor 5 (in its final minute 5) of intermediate 3 of major 5, so intermediate 4 should kick off and retrace back to around 45400ish...IMO!

 

NFP dates normally goes with important tops as said before...but what a move!

 

A

So in a nutshell agree with V, just different wave names!

 

A

[Argento]

My take is this be minute 5th to end minor 3rd. Next trip be abc for minor 4th. I am looking to short with scope for 1800 downside, portends US holiday selloff.

Countertrend trade with tight stops.

So we have a very overbought 5H macd and strong negative divergence on the 60min chart, so something red is coming!

 

This wave was very impulsive and normally indicates on a 5th wave so I see this as the final minor 5 (in its final minute 5) of intermediate 3 of major 5, so intermediate 4 should kick off and retrace back to around 45400ish...IMO!

 

NFP dates normally goes with important tops as said before...but what a move!

 

A

Attached Files

•  TOP40 (Minor 5).jpg   168.66KB   14 downloads

[grantmu]

For me it was great getting it right and making a killing for a change. Does it look like its gaining momentum to continue the upward journey though?

there seems to be up pressure still but may not be enough today.

[delta66]

don't see any weakness on futures today..its either still coming or we'll remain in a bullish consolidation mode

 

good luck!

 

[Wingnut]

closed my long runners @47190

 

...now just spectator

For me it was great getting it right and making a killing for a change. Does it look like its gaining momentum to continue the upward journey though?

[grantmu]

closed my long runners @47190

 

...now just spectator

nice one

[delta66]

closed my long runners @47190

 

...now just spectator

[Ninja]

Stunning how naspers came back from that pullback to below R1000

[Ninja]

Nice double top pattern on Npn and tencent. Woolies also stepping back a bit

[Wingnut]

Its been a hard run. Every time I think im going to take profits it turns and heads north. Who knows where it will end?

Jumped ship with full pockets