Indices

[dmedin]

A second wind, Peregrin Took?

[dmedin]

😮

[dmedin]

What happened 😮

[dmedin]

Nearly sh!t me pants.  Wasn't expecting that

[dmedin]

Ay me, Samwise Gamgee!

Carrying on like nothing happened

 

[dmedin]

Having another go

[dmedin]

Ay me, Peregrin Took

https://uk.reuters.com/article/us-usa-stocks/wall-street-pares-gains-on-report-of-potential-coronavirus-drug-failing-trial-idUKKCN2251RK

[dmedin]

Let's try going in the opposite direction:

[dmedin]

That didn't work either

[dmedin]

Try again

[dmedin]

I still don't see how any of this can possibly be profitable without the benefit of hindsight.  While you are 'live trading', whether it goes up or down is purely random.

[dmedin]

How can you be 'consistent' with more-or-less random luck and chance?

[AndrewS]

36 minutes ago, dmedin said:

I still don't see how any of this can possibly be profitable without the benefit of hindsight.  While you are 'live trading', whether it goes up or down is purely random.

You just identify something which appears non-random and trial it on your support-resistance grid.

The last 5 hourly candles all had lower highs, so you may provisionally adopt the highs and lows of hourly candles as an area of interest.

[Caseynotes]

4 minutes ago, dmedin said:

How can you be 'consistent' with more-or-less random luck and chance?

How can you not be consistent if you're only aiming for a win rate of 50%?

The key is the cumulative risk reward ratio not the win rate, random entry trials have proved this. 

[dmedin]

24 minutes ago, Caseynotes said:

How can you not be consistent if you're only aiming for a win rate of 50%?

Easily ...

[AndrewS]

3 hours ago, dmedin said:

Having another go

No comment.

[dmedin]

1 hour ago, AndrewS said:

No comment.

 

Come on then, show us some of your trades.   Winning and losing ones.  Get the charts up.

Share your wisdom with everyone.

[dmedin]

1 hour ago, Caseynotes said:

The key is the cumulative risk reward ratio not the win rate,

 

Is this your way of saying that the way to make money is to make more money from winning trades than you lose from losing trades?

Very profound ...

Get some charts up and show us how it's done.

[dmedin]

2 hours ago, AndrewS said:

You just identify something which appears non-random and trial it on your support-resistance grid.

The last 5 hourly candles all had lower highs, so you may provisionally adopt the highs and lows of hourly candles as an area of interest.

 

 

So do you always wait until the chart pattern is already completed before you place a trade? 

[dmedin]

2 hours ago, AndrewS said:

trial it on your support-resistance grid.

Is that what you call those hundreds of lines on your chart?

With so many of them there you're bound to be right now and then

[dmedin]

Okay.  Well maybe I need an indicator that tells me what to do because I haven't got the foggiest.  Here's a good one that would have prevented me from a bad long or two and kept me short throughout.  Got to think of something because none of these numpties will

 

Edited April 23, 2020 by dmedin

[dmedin]

Here we go.

Computer says yes?

[AndrewS]

1 hour ago, dmedin said:

 

Come on then, show us some of your trades.   Winning and losing ones.  Get the charts up.

Share your wisdom with everyone.

I am no trading Guru, but I will try to get back to your comments.  You can look at my comments which I think can give a good idea of how I trade.

[AndrewS]

6 hours ago, dmedin said:

 

 

So do you always wait until the chart pattern is already completed before you place a trade? 

It is not a chart pattern for me as much as I simply look at where price is relative to the current candle and give some attention to the range of previous candles.

[Caseynotes]

11 hours ago, dmedin said:

Having another go

 

11 hours ago, dmedin said:

Let's try going in the opposite direction:

 

9 hours ago, dmedin said:

That didn't work either

 

9 hours ago, dmedin said:

Try again

*FFS*

but moving on,

 

why bother? I've put loads of charts up as well as explain in a dozen different languages but you are so determined to stick with your same lame sinking ship bias you never listen. Continue to think that this is just a 2 horse race and all you need to do is back the current leader, watch it race to the moon and collect your winnings. Trouble is that after a year it's still not working out for you for some reason, it's all just so unfair 😪

 

*Then just toss a ******* coin.*

To repeat again, chart structure is what you hang your trades on, a chart is a climbing frame (to go up or down) with hand holds in the form of static s/r (pivot) levels and dynamic moving averages.

Once price has gone past (or reversed at) a recognised level that level can then be used as a hand hold and a place to hang your stop loss.

The statement above is absolutely paramount and is the key to everything, once you know where to place your stop loss then you can look for an entry point (or in your case toss a coin) and then check there is clear space of at least 2 x the stop distance beyond your entry.

To add some confluence to the above you could use 2 indicators, one to show directional momentum eg macd and 1 to show fast momentum to confirm the price action trigger eg stoch or rsi.

A win rate of just 50% that price will at least reach a 1:2 target is all you need, concentrate on achieving that first.

[AndrewS]

 

7 hours ago, dmedin said:

Is that what you call those hundreds of lines on your chart?

With so many of them there you're bound to be right now and then

Support-Resistance grid is a term used by someone whose name I can’t recall.

The only lines on the chart are candles, a price grid, a weekly pivot and a twenty period moving average.

[Caseynotes]

FTSE and S&P daily charts.

Dax and Dow H1 charts;

[Caseynotes]

Dax client sentiment from FXCM, retail not keen to get back in the water;

[HPbrand]

@Caseynotes

Do you have one for US indices? Thanks.

[Caseynotes]

4 minutes ago, HPbrand said:

@Caseynotes

Do you have one for US indices? Thanks.

yeah, this one from 12 hours ago;