Trading Signal: short FTSE

Damn! I'm going to sound like all the others, giving trading signals after they've already happened. Well, sadly, that's how it is going to be this time. The reason was that I'd started writing on the use of IG Index's charting software, and one serious bug in it.

The signal was to short the FTSE. This I actually did at 5440, a few days ago, only to discover the faulty signal generated by the chart I was using. The SAR on a standard daily chart was to be triggered at about 5410; which has now happened. So, in this case I was lucky to get a few extra points, but did also have to suffer the FTSE climbing back up to 5500.

I write this as the FTSE is sitting at 5340 and itching to take another dive. As we are potentially looking down the same well as a month ago it perhaps isn't too late to short here.

Anyway, I'll write about the chart bug later.

Back Again!

Have had a month's break from this blog. This has been a time to think of how to carry on writing, and how to structure it. Basically, the idea of looking at live short-term trades is being abandoned for now. I'm not sure how many people are reading this - probably very few from the comments - so the work involved in trying to write as quickly as possible just doesn't seem worth it. Also, as there is always a delay between trading and posting, most trades are likely to have disappeared by the time my comment gets online. All of which has made me think that I will have a different focus from now on.

The Trading Day pages will look at current trends and look forward to levels at which indicators give trading signals. I will start a new section entitled Trading Signals, which is when the market is very close to a trading signal. The point here is that as a reader, I hope it will be more useful knowing when a signal is about to appear, rather than just knowing that it has already been and gone. The latter just seems to me fairly useless and just states the obvious.

I will also continue to look in detail at technical indicators and at the different types of contracts available to spread betters. Also, my occasional series of The Clouded View will remain occasional as I myself tire of reading newsletters that actually don't have anything to say but feel obliged to fill space every week.

So... lets see how round two goes!