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2 hours ago, dmedin said:

 

I've never actually seen a trade wizard master the ups and downs of the minute time frame.  Maybe those people are actually all full of ****?

 

If you have never seen one, become one!

On another note, I have increased my Nasdaq long. Waiting for confirmation before contemplating going all in for the day.

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3 hours ago, dmedin said:

Shorting into such a strong uptrend is like p!ssing into the wind ...

Yes all the dip buyers make it hard shorting

Did not trade today because i suck at trading😉

But maybe something like this for those that can?

2 short scalp 20-30 points or so?

If i had placed a trade i had probably **** it up😄

DAX 18 Feb 2020.png

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30 minutes ago, dmedin said:

It's DEAD EASY in hindsight!  Anyone can produce a graph and say 'You should have bought here!' and 'You should have sold there!' :D

 

Or, it might go HERE or it might go THERE!  Or it might go somewhere else!  Who the heck knows :D

 

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1 hour ago, Caseynotes said:

"The drumbeat of U.S. equity perma-bears has been a constant in my 45 years as a trader"

 

Burton Malkiel effectively says the same thing when he recommends passive index tracking.

Wonder why IG didn't include 'A random walk down walk street' in their list of top trading books instead of books by bragging bravados and other trading hucksters?

Edited by dmedin
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8 minutes ago, HPbrand said:

I'm confident it is going higher. Take the profits when it reaches target.

Difficulty is finding a way back in.  I've lost a sh!t ton of money trying to 'time' my way in and out, long and short, when if I'd just sat and done nothing with a buy and hold I'd still be in profit.

Someone please put me out of my misery.

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10 minutes ago, dmedin said:

 

Burton Malkiel effectively says the same thing when he recommends passive index tracking.

Wonder why IG didn't include 'A random walk down walk street' in their list of top trading books instead of books by bragging bravados and other trading hucksters?

WALL street.  **** 🤡

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11 minutes ago, HPbrand said:

If all else fails, B&Q sells ropes. 

Joking aside, you need to get in when people are waiting but indications for upside.

Why make the effort and take the risk when buy and hold has actually been proven (as close as is possible in finance) to work?

Why trade in a 90% chance for a 10% chance?  Who actually manages to make money shorting the U.S. indices in the last 10 years?

Edited by dmedin
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7 minutes ago, dmedin said:

 

Doesn't really matter, sometimes the indicators work and sometimes they don't. 

All you can do is hope you don't keep losing.

your job is to find a combination of several indicators that when they converge give a proven probability of a successful outcome on a time frame and market you are comfortable trading on, keep looking. Plenty of people have found 2 crossing MAs can work just fine when applied to a trending chart. 

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14 minutes ago, Caseynotes said:

your job is to find a combination of several indicators that when they converge give a proven probability of a successful outcome on a time frame and market you are comfortable trading on, keep looking. Plenty of people have found 2 crossing MAs can work just fine when applied to a trending chart. 

Not looking at short term charts now.  Day time frame minimum.  You might have heard me say this before and I broke my own rule after seeing people tout the benefits of their 15 minute, hourly etc charts.  It's just an unmitigated disaster.  I can kind of see in theory how you can profit by them, but in practice I see now how useful these so-called 'indicators' are on a short time interval and how quickly and unexpectedly they reverse.  It's total f*king ****, and I am a weakminded idiot for believing it.

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3 minutes ago, dmedin said:

Not looking at short term charts now.  Day time frame minimum.  You might have heard me say this before and I broke my own rule after seeing people tout the benefits of their 15 minute, hourly etc charts.  It's just an unmitigated disaster.  I can kind of see in theory how you can profit by them, but in practice I see now how useful these so-called 'indicators' are on a short time interval and how quickly and unexpectedly they reverse.  It's total f*king ****, and I am a weakminded idiot for believing it.

the time frame is irreverent to the process, choose whatever time frame and market you are most comfortable with and then find ... 

Edited by Caseynotes
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49 minutes ago, dmedin said:

Why trade in a 90% chance for a 10% chance?  Who actually manages to make money shorting the U.S. indices in the last 10 years?

Just because muppets like Mr Nenner manages to get decade of losses under his belt, doesn't mean others with half a brain has to follow suit.

Going short is not the way to go mate. Dow is going to 30000+ sometime later this year. Shorter term corrections yes, but shorting to eternity will result in people holding cups asking for spare change.

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33 minutes ago, dmedin said:

Wait!  Now it's dropping again!  Go short go short!  This short term trading melarkey is so profitable :D

This is called profit taking. Day trading means taking profits FAST when opportunity arises. You must do the same because the longer you are in a trade, the more risks you are taking (in day trading).

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5 minutes ago, HPbrand said:

This is called profit taking. Day trading means taking profits FAST when opportunity arises. You must do the same because the longer you are in a trade, the more risks you are taking (in day trading).

You mean, watching charts like a hawk all day long and scalping bits and pieces here and there.

Perfectly fine if you're willing to work at trading all day long, 8 - 10 hours ... if you're betting the minimum per point you'll be lucky to come away with £10 - 20 a day, not a bad return for 10 hours' work ... plus all the days when you make a net loss ... great

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