Indices

[AndrewS]

7 hours ago, dmedin said:

The problem with the MA crossovers is that you don't really just want to get out of the trade if you reach a limit, you want to let it run until price closes beneath the 20 SMA.

 

I am looking at 5 books written by traders. One thing they have in common is that they mention specific setups or strategies and different market conditions ( range, retracement, breakout, trend, reversal). I tend not to trade crossovers or breakouts (although I do pay attention to them) but rather retracements and so I always have provisional stops and limits in mind.

[dmedin]

3 hours ago, AndrewS said:

I am looking at 5 books written by traders. One thing they have in common is that they mention specific setups or strategies and different market conditions ( range, retracement, breakout, trend, reversal). I tend not to trade crossovers or breakouts (although I do pay attention to them) but rather retracements and so I always have provisional stops and limits in mind.

Isn't that an overload of information?  I feel overloaded.  If it's plausible and possible to make money from a relatively simple mechanical system, why would people invest so much time and effort into Elliot Waves and all the rest?  It truly boggles the mind.

[AndrewS]

2 hours ago, dmedin said:

Isn't that an overload of information?  I feel overloaded. 

How profitable any approach is varies considerably under different market conditions (reversal, trend, range ext) so it pays to assess what the conditions are and whether they are changing.

 

[AndrewS]

14 hours ago, dmedin said:

 

The problem with the MA crossovers is that you don't really just want to get out of the trade if you reach a limit, you want to let it run until price closes beneath the 20 SMA.

 

Five closes on a limit in a range in a row.

[dmedin]

3 hours ago, AndrewS said:

Five closes on a limit in a range in a row.

 

The orange line doesn't seem to be quite so useful as the green one.

[AndrewS]

3 hours ago, dmedin said:

 

The orange line doesn't seem to be quite so useful as the green one.

The 20 period MA  (red line)  was more useful on Wednesday and Thursday.

The higher the velocity of a swing the more useful the shorter MAs tend to be for a retracement trade.

 

 

[Caseynotes]

FTSE and S&P daily charts, S&P looking towards the prior high of 2972.

Dax and Dow H1 charts;

[dmedin]

The window is only part-cloesd, need to see a break higher and retrace back into 62% else sell in May could still be on 😮

[dmedin]

if it closeth the window and carry on rising, it's a good sign Peregrin Took

[Caseynotes]

Goldman Sacs poll; Most think the bottom is in 👇

[Mar24]

Does anyone know why the FTSE has fallen off a cliff??

Literally just dumped itself in the last 30 mins. No story anywhere. 

[dmedin]

Zut alors Peregrin Took 🧐

[Caseynotes]

Dow testing the daily pivot will decide direction for Dax and Dow until the US market open.

M15 charts;

[dmedin]

Looks positive so far 😻

[Caseynotes]

Dow down through the daily pivot and now trying to get traction for a bounce up off dS1.

[Caseynotes]

[dmedin]

Ooh Samwise Gamgee

[dmedin]

Back on the rise now Gandalf!

I need to re-read the Hobbit and the Lord of the Rings to remind myself of more names!

[dmedin]

Back down now, Gollum? 🙈

[Caseynotes]

4 minutes ago, dmedin said:

Back down now, Gollum? 🙈

Just for a quick check of the pivot.

[dmedin]

Nasdaq! 😻

 

Nikkei 225! 🐮

 

 

Edited May 11, 2020 by dmedin

[dmedin]

Peregin Took! 😲

[dmedin]

Sweet J-sus, Bilbo Baggins 😮 😮 😮

[Caseynotes]

FTSE and S&P daily charts.

Dax and Dow H1 charts;

[johnpaulsmith]

I am blocked by IG “the Market Maker” to come here to comment. I have not used IG so far as my main trading account for good reasons. It is no loss to them to ban me since I won’t let them make a dime from me.

This is my last comment to say goodbye to a couple of guys. Might see you in other forums. Let me remind those wanting to trade against my prediction. Be careful.

[dmedin]

Back on track

 

[Caseynotes]

2 minutes ago, dmedin said:

Back on track

 

how is your stats recording going. I'll do a piece on trading simulators for the trade planning and testing thread, sims make testing quick and easy though would still like a user review of the Trading Rush free app.

[Caseynotes]

LongConvexity

@LONGCONVEXITY

 

NY Fed Says It Will Start Buying ETFs - WSJ wsj.com/articles/ny-fe…

[dmedin]

1 hour ago, Caseynotes said:

how is your stats recording going

Haven't done it 100 times yet but looks promising so far, let me see if I can get into get and finish it   

Edited May 12, 2020 by dmedin

[Caseynotes]

1 minute ago, dmedin said:

Haven't done it 100 times yet   

the Trading Rush videos uses 100 times but they are using a simulator so you are using past data, you fast forward to find your setup, trigger the trade and then fast forward to see the result.

You can do the same thing eyeball backtesting which, as per the 'trade planning and testing' thread do 20 times, then move to forward testing on demo and test 20 times, then onto live at min size 20 times but most won't survive the quick eyeball backtest anyway.