Indices

[dmedin]

23 minutes ago, Caseynotes said:

37 S&P stocks heading northwest on the RRG.

Go long?

[dmedin]

WOOHOO!  I changed my mind: 56% of IG client accounts with open positions in this market expect the price to fall

 

GO LONG!!!!

[dmedin]

19 minutes ago, dmedin said:

I'm going to follow trends, hold on to positions that are winning, trade less, and rely on the daily chart.

Very tempting to be able to make money every day from scalping but I can't do it. 

Master inter-day trading before you try intra-day trading

Trade less - I've got evidence that holding positions over a period of time can work.  Looking at daily or hourly charts and trying to scalp or day trade doesn't work for me, so I won't be paying it any more attention

Try to use basic charts effectively first - before trying out complex things like that hideous multi-coloured thing you just posted.  If it needs to be that complicated, then it's not for me

 

And if that doesn't work, I'll stop trading and find another way to sabotage myself instead.  Like suicide

[Caseynotes]

3 minutes ago, dmedin said:

Go long?

the momentum of the stocks is moving them from the lagging or weakening sector to improving and leading.

[dmedin]

11 minutes ago, Caseynotes said:

the momentum of the stocks is moving them from the lagging or weakening sector to improving and leading.

Great for individual stock picks I imagine. 

[dmedin]

There was only a clear case to open a new position three or four times in the last couple of months.  How did I end up overtrading to such a ridiculous extent?  (And my bet sizes are always minimum so the commissions for IG are trivial.)

[AndrewS]

22 minutes ago, dmedin said:

There was only a clear case to open a new position three or four times in the last couple of months.  How did I end up overtrading to such a ridiculous extent?  (And my bet sizes are always minimum so the commissions for IG are trivial.)

 

I use a 60 and 240 period MA to compensate for Sunday's candle.

[dmedin]

Well, this was another dull and disappointing day for trading.

Feels like a mug's game. 

Edited April 15, 2020 by dmedin

[Caseynotes]

34 minutes ago, dmedin said:

Well, this was another dull and disappointing day for trading.

yes indeed, price only went down 600 points before going back up 400 points, complete waste of time trying to trade such minuscule moves 🙄

[dmedin]

16 minutes ago, Caseynotes said:

yes indeed, price only went down 600 points before going back up 400 points, complete waste of time trying to trade such minuscule moves 🙄

Absolutely, but I'm set with my positions and will review them daily.  The only sensible way.

[Caseynotes]

FTSE and S&P daily.

Dax and Dow H1 charts;

[Caseynotes]

Dow finding support at the daily pivot;

Dax and Dow H1 charts;

[dmedin]

GO LONG!

GO SHORT!

GO LONG!

GO SHORT!

Lose all your money!!!

[Caseynotes]

6 minutes ago, dmedin said:

GO LONG!

GO SHORT!

GO LONG!

GO SHORT!

Lose all your money!!!

you're the only one who places trades as if you were at a racetrack.

[dmedin]

4 minutes ago, Caseynotes said:

you're the only one who places trades as if you were at a racetrack.

 

[dmedin]

Indices experienced a big after-hours erection on news of a new drug!

I lost even more money.  Losing all hope now

Here comes Captain Sensible with his analysis of the big erection.

 

 

[Moin]

Lost whatever was left on short

Leaving for good

[Caseynotes]

4 hours ago, dmedin said:

Indices experienced a big after-hours erection on news of a new drug!

I lost even more money.  Losing all hope now

 

I thought you had it all sown up with the larger time frame only strategy? Looking at yesterday's daily US Indices eg the S&P daily posted just above can't think why you would even attempt to short that. 

The markets surged in the last hour of the US session (during the 1 hour CME close) on Trump saying he was going to open up large parts of the country from lockdown very soon sends S&P back up to the weekly pivot R1.

[dmedin]

14 minutes ago, Caseynotes said:

can't think why you would even attempt to short that. 

Yep, and it's even clearer on the four hour time frame.

I don't know?  I seem to have a compulsion.

[Caseynotes]

FTSE and S&P daily charts.

Dax and Dow H1 charts;

[Caseynotes]

14 minutes ago, dmedin said:

Yep, and it's even clearer on the four hour time frame.

I don't know?  I seem to have a compulsion.

that's right, emotional rather than mechanical trading.

[Caseynotes]

1 hour ago, dmedin said:

Yep, and it's even clearer on the four hour time frame.

stop trying to pick major reversals and instead look for pullbacks to fail to continue the trend eg at a doji or engulfing candle, the stop is obvious and close so good RR and a reasonable win rate with practice.

[Caseynotes]

Dax and Dow H1 charts;

[dmedin]

Another depressing day.

Quote

A gauge of future U.S. economic activity suffered a record decline in March, suggesting the economy could struggle to pull out of a deep slump caused by the novel coronavirus outbreak.

https://uk.reuters.com/article/uk-usa-economy-leadingindicator/u-s-leading-indicator-points-to-deep-economic-slump-idUKKBN21Z2F0

[Caseynotes]

35 minutes ago, dmedin said:

Another depressing day.

https://uk.reuters.com/article/uk-usa-economy-leadingindicator/u-s-leading-indicator-points-to-deep-economic-slump-idUKKBN21Z2F0

The current situation is unprecedented, all these indicators are designed around financial instability that has developed over time rather than someone literally flicking a switch. It's difficult to say how relevant they really are in the current situation. However if it goes on for too long then there will be nothing to come out of lockdown for.

 

[Caseynotes]

S&P weekly chart with the weekly pivot levels;

[Caseynotes]

Chart; Market crashes since 1870.

[phillo]

FTSE 100 levels etc

[AndrewS]

Hello Elle, I have a question.

What would be the maximum number of candles per hour during active trading you would consider for a tick chart. Would 30 candles per hour be too many?

[phillo]

Hi Andrew,

 

with a "tick" chart , time isn't relevant as clearly the amount of  ticks in any given time period can vary. I use different value tick charts for the general speed a financial instrument can move, so for instance, the Dow Jones can move much faster than the FTSE  & UK stocks are very slow compared to US ones

 

Hope it helps