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Afternoon JayK notice you reflect on the FTSE quite a bit.
Not trying to teach you to suck eggs or anything but you may like to try this rig, even if its on a practice account and test if it works for you.
Try waiting for a higher low pullback and buy into it, once it stops working then just do the opposite and sell the lower highs. . . its been my strategy for many years now.
If anyone else appreciates the suggestion and finds it works for them (I.G hate me) it would be much appreciated if a small % of any potential profits were donated to the Go Fund appeal @ Buy Mr Wolf a lamb chop.
“Go Fund appeal @ Buy Mr Wolf a lamb chop”
MrWolf, also made me laugh out loud. Well Done!
Anyone care to post an off topic joke or statement to see if a hat-trick of laughter can be achieved?
Regards MrA
Hi Mr Wolf, your advice and comments are always most welcome and a good read, you seem to have been in the game way longer than me and much more experienced. I do look a the FTSE as primary focus whilst Investing in stocks, I used to be stock's focused. Thank you for the tip, its much appreciated. I am a lone ranger on this, this board is the only one I use to talk to other humans about stocks / trading. Would you be able to maybe drop me an email at chartaddiction********** so I could pick your brains and maybe share my system too if it has any value for you. Cheers
Oh email addresses get redacted here. Well its at yahoo dot com lol
Hi JayK
Thank you for the compliment, not necessary but appreciated.
LSE get really bent out of shape, hence they block out esnail links for that very purpose.
Years it was used as a "heads up" resulting in loads getting chopped out.
Just pop in every when Ive got something that needs nursing along, im afraid my email is the last thing I check and far to time consuming lol.
If your trades are making profit, you are doing it right.
Something I have learnt is that not one person trades the same, thats why they use bots and algos now.
Its the emotion / nerve, not knowledge or age, that lets a good position run profit.
Risk and reward is the key, its pointless to trade without R&R factored in, once its up and away T, with a nursed SL.
If I may recommend a well seasoned book, FOREX Patterns & Probabilities / Ed Ponsi
Certainly do not see myself as one to give advice, just to share experience of what does or does not work.
For which I still take losses, some heavy ones in fact, crikey Ive blown up at least 3 profitable accounts in my past lol
The only people I know who make constant income from trading are the brokers.
You may have heard this before "Its like trying to pick up pennies in front of bulldozers"
Regards W'
No problem, I think there always someone out there who knows more than you, so its always good to listen! I shall take a look at that book for sure. The last one I read was TA of Financial Markets by John J Murphy, and Trading in the Zone, the books are so boring but extremely valuable. I remember reading Schwager on futures on the beach in Dubai a few years ago, the amount of nodded of was unreal, late nights didn't help ha! I mentioned on here I think end of September that I was developing a Intra day strategy to be used to trade the FTSE only, as I was trading US stocks on an Intra day level. I had to take November and December off but I had 3 months of FTSE trades at 78% win rate. Now I am back to it and just getting back into the swing of things, I find reading price action something that almost needs time to learn and understand and you get a feel for the market. I have set rules, and a set strategy, although it requires me to decide so I'm not ready for automation yet. One thing I do have a different take on is risk and reward, I do not use a physical stop, mostly mental and it depends on what the price action is doing to tell me I got it wrong. If the trade meet all my criteria then I'd take a larger position, if only 2 out of the 3 then smaller etc. I learn't this when trading with professionals in the US, it was completely different to what everyone says but It makes sense and seems to work, however intra day you need to so fast on entry and exit, you cannot hesitate and that takes a bit of time to get into, sometimes you scalp. I've had 1 big loss in stocks, when a green energy company went bust, about 12 years ago, remember it well! I had the right Idea, just the wrong company! All the best. J
JayK "the books are so boring but extremely valuable" My sentiment exactly .
Though I see trading a bit like driving a car. How many times have you driven a journey and thought 'If I was on my test I would have failed badly' well thats why even I pick up the odd book every now and then.
Though sometimes it helps avoid a conversation with Mrs Wolf wanting to discus blah, blah.
In fact the 2 main reasons why Mrs Wolf and I sat in front of a wildlife councillor a few years back was the fact she claimed:
1. That I did not listen to her.
2. & some other stuff she was rattling on about ?
Anyhow J' on a genuine note, must dash im getting mobbed this end.
BOL
UBS continued to have a positive view of the UK banks with Lloyds, Barclays and NatWest all attracting ‘buy’ ratings with the broker seeing upside of 46%, 53% and 20% respectively.