Indices

[Caseynotes]

S&P poised to break up through 3167.

S&P daily.

Dax and Dow H1 charts;

[dmedin]

Buying on the dips isn't working, at least not for me.  Short time frames aren't helpful either.  All the stocks mixed and volatile too.  Lost a lot of money and looking, again, at the end.

IG has 180,000+ clients and maybe five or six post on here regularly ... just hopeless.

Edited June 24, 2020 by dmedin

[Guest Just Me]

14 minutes ago, dmedin said:

Buying on the dips isn't working, at least not for me.  Short time frames aren't helpful either.  All the stocks mixed and volatile too.  Lost a lot of money and looking, again, at the end.

IG has 180,000+ clients and maybe five or six post on here regularly ... just hopeless.

I suspect many trading possibly look a bit more in depth than how 'big a dump' a stock may be taking on a candle or how big it's 'erection' is.

But hey, that's just me and perhaps that's what traders do and perhaps I need to study 'dumps' and 'erections' far more to become a successful trader. 

 

[dmedin]

So going off this hideous chart, why would anyone have been going long after Mon 8th/Tues 9th?  Because you trade upswings on lower timeframes?  What kind of trend is that, anyway?  Isn't it just going sideways?

The lines and indicators aren't telling me anything that I can't already see.

Confused.

No wonder so many people lose money.

 

[dmedin]

Maybe the 50 day SMA will provide support again?

[dmedin]

A nice wee drop to 24000 would be good for my coffers, Erika Badu 😘

[Caseynotes]

S&P Daily sitting on support at 3038.

Dax and Dow H1 stuck at the low from yesterday afternoon.

 

[Caseynotes]

Dax and Dow H1;

[dmedin]

Some backtesting on the chart

[dmedin]

23 hours ago, Guest Just Me said:

I suspect many trading possibly look a bit more in depth

Fundamental analysis?

Elliot Waves?

Or analysing charts with the power of hindsight?

Edited June 25, 2020 by dmedin

[dmedin]

46 minutes ago, Caseynotes said:

Dax and Dow H1;

It's all higgledy-piggledy bonnie loon  

[dmedin]

23 hours ago, Guest Just Me said:

But hey, that's just me and perhaps that's what traders do and perhaps I need to study 'dumps' and 'erections' far more to become a successful trader. 

So what are you studying that makes you successful?

Stuff on Dailyfx?  'Here are a dozen lines; price may do this or it may do that.  If it does do that then it may do this; or it may not.  And if it does this then maybe this will happen, or maybe that.  And  by the way, 62% of IG's clients are long and they are a bunch of idiots who lose all their money.'

How is that working out for you?

[dmedin]

Unemployment claims were slightly more than expected.

But Chris Beauchamp was probably right yesterday, there won't be another dramatic drop. 

 

[Caseynotes]

Why levels are so important for trading.

[Guest Just Me]

1 hour ago, dmedin said:

So what are you studying that makes you successful?

I'm not successful.

1 hour ago, dmedin said:

So what are you studying that makes you successful?

You.

1 hour ago, dmedin said:

How is that working out for you?

Not good.😄

[dmedin]

31 minutes ago, Caseynotes said:

Why levels are so important for trading.

 

 

That looks great although I don't know what that alternating-coloured line is.

On IG's 1 min chart you can see it bouncing off daily pivots, PRT lets you have hourly, four hourly pivots etc.

[dmedin]

Doesn't work when I try it.

Must be doing something wrong.

I mean ... if all you're doing is buying and selling bounces off pivots then why even have 'indicators'?

It's like all these hideous f*king charts plastered with sh!te to make the 'analyst' look like they know what they're talking about.

And the punters (who are a bunch of losers, mainly) lap it up and ask for more.

I am both confused, and stupid - I know that I know nothing.  What?

[dmedin]

Well here's a conundrum.  It looks like it was just another 'wee dip' in the DJIA, but most IG clients are long.  

So, what do I do in the here and now?

Not, like Chris Beauchamp, smugly look back months from now with his awesome powers of hindsight and say that most IG clients were dumb losers.

 

ANSWER: Don't go long or short.

JUST DON'T TRADE!

Edited June 25, 2020 by dmedin

[dmedin]

45 minutes ago, Guest Just Me said:

I'm not successful.

You.

Not good.😄

🤓😂

[dmedin]

PSAR and MACD (PSAR is for confirmation and use as a trailing stop) with 200 SMA as filter.

At the moment, no trades advised. 🥴

[dmedin]

5 and 20 with RSI gave a sell signal though.

No 200 SMA filter used.

When using the RSI you have to be prepared to through your crossover rule out the window when you see a divergence followed by a big candle penetrating the 5 SMA 🤯

Edited June 25, 2020 by dmedin

[dmedin]

Eileen! 🤓

[dmedin]

This would have been a good trade, Erika Badu.  💃 See, I am awesome at backtrading 🤓

[dmedin]

Dax is approaching 'buy' signal, and the good news is most IG clients are short 😁

[dmedin]

Buy the dips? 🤓

 

[dmedin]

Well, that was another unproductive and unprofitable day

Here's to tomorrow!

[dmedin]

Veronica!  The DJIA just managed to achieve an erection 🐮

[dmedin]

What do you think, Samwise Gamgee?  And how about it, Peregrin Took?

Edited June 25, 2020 by dmedin

[Caseynotes]

FTSE and S&P daily.

Dax and Dow H1;

[Caseynotes]

16 hours ago, dmedin said:

That looks great although I don't know what that alternating-coloured line is.

That is just an on-chart stochastic (smoothed) instead of it being in a sub window.