Jump to content

Indices


Recommended Posts

Start of a new month so the monthly chart recap. Ftse was doing so well and still above the broken monthly chart resistance level, Dow puts in a pause bar, Dax has an inside bar in a uptrend and Nikkei still consolidating.

UK rate decision today and US NFP tomorrow.

image.thumb.png.2372c6d243e8d69173e5b61d4e342cf6.png

  • Thanks 1
Link to comment
4 minutes ago, Foxy said:

 

 

@nit2wynit

12:00
 
High UNITED KINGDOM-BOE RATE DECISION - BOE BANK RATE   Aug. 2019 0.75% 0.75% 0.75%
13:30
 
High UNITED STATES-JOBLESS CLAIMS - INITIAL CLAIMS   w/o Jul. 22, 2019 214 k 206 k
15:00
 
High US ISM Manufacturing PMI   Jul. 2019 52 51.7
15:00
 
High US ISM Prices Paid



Oh, Thanks Foxy.  It's happened already? :D

It's clear to me now more than ever that I need to focus less on placing trades and more on the actual market and how it's all operating.

Where do I start?  Is there something I can read?  I Readers Digest of the Fundamentals?

Thanks

Link to comment
16 minutes ago, nit2wynit said:

When is this to be expected Casey?  Thanks

UK rate decision was today at  12pm, no change.

US NFP is tomorrow at 1:30pm and forecast to be 164K, Wednesday's ADP nfp was 156k, 6k higher than forecast.

NFP is the second biggest date on the calendar (just behind FOMC).

Though there is a whole mass of data released the 3 most important numbers are nfp, average hourly earnings increase and unemployment rate.

As usual it's the unexpected that causes the stir. 

  • Thanks 1
Link to comment

 

11 minutes ago, nit2wynit said:

Any insight into the direction of the FTSE?

 

Thanks

the ftse was getting a free ride up on the back of the plunging £ as Boris was sounding tough and increasing the odds for a no-deal Brexit but he's been back peddling just lately so ftse has come off a bit and then was hit like all the indices on yesterday's fomc.  Today is stabilising/consolidating in line with the others as is the £ since 8am so waiting for the US market open at 2:30 for a push in either direction.

  • Thanks 1
Link to comment

 

6 minutes ago, nit2wynit said:

Higher Highs Higher Low's??

Though as Usual I anticipate a Drop to S1.

Or was it a Spike to R1....Not sure now lol.

need more edukayshun, resistance is broken when all the sellers have been cleared out, support is broken when all the buyers have been cleared out. you are not big enough to do the 'clearing out' so sit and wait for a result and join the triumphant march on to the next battle ground. order flow.

Link to comment
19 minutes ago, Caseynotes said:

 

need more edukayshun, resistance is broken when all the sellers have been cleared out, support is broken when all the buyers have been cleared out. you are not big enough to do the 'clearing out' so sit and wait for a result and join the triumphant march on to the next battle ground. order flow.

And look, the next battle ground was R1, who would have guessed it.

image.thumb.png.f30bd0b60e9c8c18d0427ef98e088d4b.png

Link to comment
59 minutes ago, Caseynotes said:

And look, the next battle ground was R1, who would have guessed it.

image.thumb.png.f30bd0b60e9c8c18d0427ef98e088d4b.png

 

How did you trade it though?  The one on the left shows a break above R1 then a fall back down.  The one on the right shows a sustained break for one candlestick period.  So, if you are trading a breakout from R1 you lose 50% and win 50%.  Not great odds really.  If you wait for a pullback, then you miss all of the substantial breakout and get very little.  Tricky.  Difficult to call.

Link to comment
15 minutes ago, nit2wynit said:

Been out in the sunshine on my bike.  What did i miss?

 

Well, on the plus side you got some exercise, enjoyed the weather and lived a good life.  On the other hand you missed the misery, bitterness and utter futility of day trading on financial markets.

Link to comment
11 minutes ago, dmedin said:

Well, on the plus side you got some exercise, enjoyed the weather and lived a good life.  On the other hand you missed the misery, bitterness and utter futility of day trading on financial markets.

Oh, I made £20 on the FTSE in the consolidation area :D

Currently waiting on 2U.Inc to deliver.....Was up £7 earlier but took it all back to -£7 now hopefully bringing it back to Zero and into profit.  Been holding on to it since 3.20 lol.  Hopefully I'll take a tenner from it.

 

Link to comment
1 hour ago, dmedin said:

 

How did you trade it though?  The one on the left shows a break above R1 then a fall back down.  The one on the right shows a sustained break for one candlestick period.  So, if you are trading a breakout from R1 you lose 50% and win 50%.  Not great odds really.  If you wait for a pullback, then you miss all of the substantial breakout and get very little.  Tricky.  Difficult to call.

I use the H1 to spot levels and direction, I put them side by side because Dow often is a leading indicator for Dax, I would look for entries on the M1, M5 or even the M15 but no higher than that for intraday. If it looks a bit choppy as it did for Dax today I'd use set amount targets on promising looking pullbacks between levels.

 

Link to comment
3 hours ago, Caseynotes said:

I use the H1 to spot levels and direction, I put them side by side because Dow often is a leading indicator for Dax, I would look for entries on the M1, M5 or even the M15 but no higher than that for intraday. If it looks a bit choppy as it did for Dax today I'd use set amount targets on promising looking pullbacks between levels.

 

'Even the M15' lol.  15 minutes is about as low as I would contemplate going, and even then I feel it gives me signals to exit far too soon.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • image.png

  • Posts

    • What’s the average spread like, generally? How does it compare to current conditions? I’ve been using IG for over a decade, and I’ve noticed a growing sense of dissatisfaction, not just from myself but across various forums too. I think they really need to prioritize some core areas—like improving the iOS app and refining the API. While your issue may not be directly tied to the API, in theory, if you know how to use it well, it should offer a better experience compared to the web platform or the standard retail charts. Just my two cents. As for the problem, it’s definitely not about liquidity in these markets. I’d say it’s more likely due to the rise of algorithmic trading over the years. These high-speed algorithms can take advantage of price movements, often leading to short periods of slippage for regular traders as prices shift rapidly. Market orders, meant to execute quickly at the best available price, are more prone to slippage compared to limit orders. Since market orders prioritize speed, they don’t guarantee a specific price. If the market price changes in the short moment between when you place the order and when it's actually executed, your trade will go through at the new price, whether it’s better or worse than expected. This makes market orders riskier in fast-moving or volatile markets. By using the API along with a low-latency server, you can reduce the risk of slippage in some cases. What kind of latency are you experiencing with the API? Avoid using a home connection for this—opt for an affordable VPS, even a $5 one will significantly improve your experience.
    • Cardano’s 3.8% price surge might be from all the updates and partnerships they’ve been rolling out lately. I’ve noticed that every time they release some big news, like a new upgrade or collaboration, there’s always a jump in price. The community around Cardano is really strong too, which seems to play a role in driving things. A few weeks back, I swapped some tokens using https://stealthex.io , and I remember seeing a bunch of people talking about Cardano on forums. Maybe that hype is finally showing in the price. Either way, it’s nice to see some action in the market again.
    • Hi everyone, just a short post at this stage as I want to see if there is any interest in this topic first.  I’ll likely contact IG but wanted to see if there are other thoughts and experiences first as there are several issues I am seeing and it’s a bit complicated, so didn’t want to write some long rambling post. i trade the Dax and Nasdaq indices and use an automated strategy using the API.  I am effectively trying to do a trend trading strategy but on short timescales.  So i set fairly tight stops and then run those trades that leave the area to the plus side.  My win rate is low so have a lot of losers so slippage on stops is quite important to me. i have a database of trades and 5m data going back over 3years now - so have a lot of data to work with. i measured the stop slippage several years ago and it was fine for this method but have re measured it recently as I noticed the losing trades were a bit too large and it seems that the slippage has increased quite a lot for Nasdaq (not then Dax). I am trying to see what is behind this. Anyone interested or tackling similar issues? Thanks David 
×
×
  • Create New...
us