Europe: UK FTSE free trade

[Tony Beckwith]

Hi to traders on the European markets

Here is a great example of running a free trade - something all professional traders aim for...

MTPredictor EOD automatically found a sell set-up on the UK FTSE100 index [cash] - found by the Scanner.
A TS2 Sell set-up; price in Minimum resistance zone; red sell bar; above +2x risk/reward potential; supportive red trend indicator...

Result: trade still open, however the initial protective stop can now be at break-even - because price fell to the 100% initial risk level (1:1 risk/reward).
This is now a free trade, currently open on a +1.5x profit, but with the psychological pressure off

Training lesson: when using the profit targets for your exit strategy, move the initial protective stop to break-even when price reaches the 100% initial risk level.

Thanks

Tony.

[sr100m]

Hi Tony

Do you prefer to move to BE when price touches 100% or wait until price has closed beyond the 100%?

Looks like the wave 4 retrace is over on the stock markets.

Paul

[Tony Beckwith]

Hi Paul

Touch only is fine, as in the (long!) Trading Course.

of course, we don't even 'know' if it is a Wave 4, let alone if it's over...but we have a free trade so it doesn't matter

Thanks

Tony.

[TAS]

Hi Tony,

This really looks like a good trade so far, but look at the initial risk in whatever British Pound or equivalent USD term, I wonder how much pencentage of STRICT MTPers will fire a shot, I do know some guys trading 6 digit account, however much much much more guys entering this volatile market with smaller account, which is the MAIN CONSTRAIN for their equity to grow in my view.

Thanks and good trading.:)

TAS



Hi Paul

Touch only is fine, as in the (long!) Trading Course.

of course, we don't even 'know' if it is a Wave 4, let alone if it's over...but we have a free trade so it doesn't matter

Thanks

Tony.

[Tony Beckwith]

Hi TAS

Yes, a 70 index point risk on this Daily chart, so suitable for

1. large futures traders - £10/pt on Euronext LIFFE exchange
2. contracts for difference (CFD) traders - FTSE100 CFDs can be traded for as little as £1/pt and require as low as 5% deposit margin (20x leverage)
3. spreadbet traders - FTSE100 spreadbets down to £1/pt

Chart update attached!

Regards

Tony.

[Tony Beckwith]

Automatic FTSE100 index Sell reaches +3x profit...

Training Lesson - the 1st Sell was stopped out for free or a partial profit; the current Sell has run well (though may see some short-covering here)

Thanks

Tony.

[Tony Beckwith]

UPDATE

As suggested yesterday, short-covering/buying coming in - as signalled by the powerful Decision Point (DP) tool in MTP.

Training Lesson - watch the Decision Point zones especially when the 1st automatic profit target is a long way away, as here...

Thanks

Tony.

[Tony Beckwith]

UPDATE

Currently -2.1% in London, producing +4x profit...

Short-covering/buying a few days ago was short-lived!

Thanks

Tony.