rather than pick out individual stocks to trade, it can often be worthwhile to trade the indices themselves, especially in times of high volatility.

for those so inclined, i attach below charts for FTSE and FTSE 250, though one might equally be tempted to trade Dow or S&P, which is significantly broader in its coverage, or even NASDAQ

for ease of reading, i have attached 1 year and 3 month charts in each instance

Good trading bhunt, fortunately I never got my short away. Strangly my trading system was indicating a long first thing, but I ignored it.

I feel a new rule needs to be written. "Have faith in trading system, place position with stops then walk away" Well three rules then.

Gone long again at 6325 !!

ouch - out at 6316 - thought I had survived the first wave - but got caught by the second wave.

one too many I think

Just had a little flutter on the dow - lost out there too - too volatile - just blasted through my sl

bhunt1810,

You need to chill a little. I used to do what you are doing a lot. Now I have 2 different strategies:

a) Get ready to go long or short on the FTSE when the Dow opens up... sometimes you can really pick up a good swing here, but only go for it if it is clear that the American markets are going one way or the other.... sometimes the FTSE can be a bit lagged.

b) Or I look to go long or short on new highs or lows respectively.... when I say new I am normally referring to the last 5 days.

I always set a stop loss that has some room to breath! (normally 20 points) As soon as I can break even I move my stop loss to this point.

Recently I have been trying to run my profits for longer

Thanks Tonker - I think you are right - I got stopped out 3 times this afternoon because I set the stop too tight - and I could not monitor it very actively.

This morning was fun and I made some money - but I gave it all back on the dow this afternoon. Still learning - thanks for advice.

Dow looks like it will end the day positive. I went short when it was -91 - but set my stop loss too tight and missed the run up this afternoon.

nevermind - taking the missus to barcelona for the weekend for our anniversary - so will chill out for a few days

hope you don't get gored ..... just enjoy yourslef in the massive market in Ramblas

Cynic,

Do you think that the market is a little over valued at the moment... What are your ideas on this?

not sure, but the markets on both sides of the pond seem of a mind to go ahead ..... if Dow can break through and hold above 13000/13050, then there could be plenty more upside ..... however, nothing goes up in a straight line.

for myself, i do not currently have any open index positions, but am arguably o'weight in (quality!) miners and oilies

Oil close to $128 and rising....god knows how far this is going to go ?...a spike up to $150 or $160 and then possibly settling around $140 before climbing again in the autumn.....it's all guesswork...producing oil stocks should carry on rising with little pullbacks along the way, even minnow oil stocks with probable reserves in the ground should benefit, but the rest of the market ? and something there has not been much talk about is the resumption of the hurricane season....this year might make up for a quiet last year...; what was the cost of that time machine I saw in Argos ?.

I have mainly traded the FTSE 100, but I have found that it can be very oil driven because of BP & Shell are weighted so much more in it. In what ways would you say the FTSE 250 is different?

FTSE 250 is much more volatile ..... i don't follow it and cannot comment

memo to self ..... don't try to be a smartarse by getting greedy ..... portfolio doing very nicely now ..... just let it run ..... no need to add more!!

short 6350 on ftse, it opened 6354 but wasn't quick enough

closed 6330 for 20 points, that will do for me for today, off to play golf now lets hope it goes as well as the trade. The way I have been playing recently it would make a nice change.

Good luck to anyone trading today.

Looks like Nick Hasels's column last weekend was right in foreseeing a 6% retracement in miners

not much blue anywhere, BOR being a friendly exception

Nasty day all round took a few profits here and there but with the oil companies it is weird : oil at an all time high and will keep on going up to $140 possibly and then you have the pullbacks followed by sharp rises....job to follow them all and keep in touch...cheers !.

U.K. Stocks Drop, Led by BHP Billiton, Rio Tinto; ICAP Retreats
By Sarah Jones

May 20 (Bloomberg) -- U.K. stocks tumbled the most in two months, led by commodity producers after Morgan Stanley said investors should ``take profits.'' BHP Billiton Ltd., the world's largest mining company, and Rio Tinto Group retreated.

Had a look at copper and a few other metals and don't seem to be down much so miners don't look they are about to fall off a cliff yet. Oil stocks unlucky to collapse without crude doing so mind you since when has any logic worked on the markets

As ftse has fallen further than other indices, even allowing for Mondays gain against other indices, I would hope to see a bounce today. So long @ 6215.