FTSE Movement on FRIDAY 7th November 2014
Friday provided a perfect masterclasss. Our criteria was not met, so nothing ventured, nothing gained, nothing lost.
FTSE Movement on THURSDAY 6th November 2014
Thursday provided entertainment on a grand scale. Our trade from the previous day remained with a valid target but we'd recommended closing it on Wed evening - in profit - as holding overnight can often bite you on the bum.
Our so called 'safe' trade on Thursday was another nuisance, triggering a few minutes after the prospect was emailed and immediately meeting target.
As the chart shows though, once our initial target was met the market bounced below it a few times and on the 3rd bounce above, went directly to our secondary.
The fruitcake element allowed it also to reach and exceed the prior days secondary anyway.
The object of this exercise is to define 'safe' trades but the primary on Thursday with just 4 points was probably useless. But it was certainly safe...
FTSE Movement on WEDNESDAY 5th November 2014
Unlike yesterday, the market thankfully waited 45 minutes before hitting our trigger level for the initial movement.
As the chart shows, 30 minutes later it hit target without requiring any form of stop loss position. This is always our aim with this 'safe' movement and it seems to be working out that way - FOR THIS WEEK ANYWAY!
Our longer term secondary is still valid at 6564 and in the event of it now trading above 6547, it should come along fairly fast. Or you could just close the trade anytime now as it's in profit and holding overnight allows world news to spoil the fun.
FTSE Movement on TUESDAY 4th November 2014
We've been smugly publishing our successful results recently and had not considered how to handle it if we screwed up!
THE BOSS SAYS PUBLISH EXACTLY WHAT HAPPENED.
The FTSE movement speculated a target of 6498.8
The highest achieved was at 12:01 and it was 6498.3
The movement triggered at 11:56, so it was certainly quick and failed just a tad below our target.
This, unfortunately, was not the screw up. The movement happened just 2 minutes after our alert with the result it was perfectly possible to enter the trade AFTER it had happened if a chart were not viewed first, perfectly normal if trading from a smart phone. The price went down, triggering the Stop Loss...
Obviously timeframes are something we cannot control but this was really embarrassing. Importantly though, it also illustrates why we give PRIMARY and SECONDARY targets. If our PRIMARY is bettered, we always expect a further break later in the session to get to the SECONDARY.
In this instance, the PRIMARY was not bettered as the rise fell short by 0.5 point.
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