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FTSE inches down, Merlin collapses on poor summer trading


 · Over a few months I compiled a series of articles that explain some of my methods and experiences in how to day trade the FTSE Day trading spread betting, forecast and analysis of FTSE , DAX, SPX and Gold markets, membership, tips, help, strategies and trade

FTSE Lifestyle Trader

Day trading spread betting, forecast and analysis of FTSE , DAX, SPX and Gold markets, membership, tips, help, strategies and trade

Now I had my downside target — the lower tramline. Glancing at the chart, I thought that would likely be 5, But in case the support came in just ahead of the tramline, I decided to set 5, as my target, and entered a resting buy order there to cover my trade.

In the meantime, I lowered my protective stop to break-even using my break-even rule. My order was filled around mid-morning for a very quick and clean trade:. I am finding that recently, I am seeing a lot of very reliable tramline set-ups in all timeframes in the large markets that I follow primarily, stock indices, gold, silver, and currencies.

I would encourage any spread betting trader to regularly search the charts for them. If you can draw at least two parallel tramlines using a pivot point from a previous period, as I did here, so much the better, as it adds more confidence to the validity of your line. Incidentally, the shortest timeframe I like to trade with is the minute. This gives me room to think. I know that many day-traders go down to the one-minute and two-minute charts.

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Hit the which was the target on the short.

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You won't receive any more email notifications from this author. This is what we want to see after price breaks out of consolidation, a retest of the consolidation zone then a bounce off that zone, then a move in the direction of the main trend.

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