Day Trading the FTSE 100 We are not scared of admitting we get it wrong

Unlike a few services out there we don’t say we are the best or perfect or infact No1. We win about 80-90% of the time and even if you keep your risk and reward to 1:1 you make money. The people that lose are those that don’t follow what we teach.

For example get in for the wrong reasons don’t follow all our boring stuff, like business plans, trading sheets, look at their performance profile and stick to the bloody spreadsheet, never mind the STT!

Anyway am doing another free session this Wednesday (at 9am in our live room) on the above if you would like a seat just send us an email to Traders@ftseday.co.uk and you will get an invite.

Anyway below is a copy of Friday’s members’ email!

Good Morning

Well that showed me, from what I read with our PM to thank for that rise up before lunch time which was strange as it would normally drift back time. But for whatever reason it went up and I know a few members got caught on the wrong side.

But that is trading for you it’s not an exact science it always amazes me people are happy to take winners but get so upset when we have a losing trade. It’s how you handle the loosing trades that defines a trader.

But another winning week for me and that is me done for the week. I not trading today room will be up and I will be around for an hour or so on the open.

Room password is the same as yesterday  FreeThursday so any silver members are welcome as Friday is a very quiet day even on the members twitter feed as they don’t call it give back Friday for no reason.

All being normal we should get a pullback lower at some point today, just we might get another fade higher first so be careful and if you get on the wrong side don’t hold onto (and hope) get out.

Remember it’s not about what 1 trade does it’s over a series of 10 or so. But that only works if you are able to take the losses on the chin as we all have them.

News wise we have high impact German data at 9 am and then UK data at 9.30 we might get a bit of a jumpy start. Then not much else I really don’t have a feel for today as the market is strong so I hesitate to call direction.

But if you want to trade look for the test of yesterdays high, either hold or breakout A or B or pull a fib from 6182 to 6270 gives you 50 (so that is a strong double level) and then 6238, 28 and 17 on the down side on the up side we don’t really have any levels to work to.

If we do go up and you do want to trade then look for a bit of a sell of into the London close based on profit taking and people unloading positions before the weekend.

Just be careful today I will be back trading and looking to make points on Monday make sure you are.