Jump to content

Indices


Recommended Posts

  • Replies 5.3k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

JESS ........TWO BARKS FOR BUY     ONE BARK FOR SELL   ???

That is the 50% retrace for  the Dow and S&P. 

It's the opposite, I don't think I'm cut out for day trading.  I still would have been better off keeping a position open from Christmas, even now.  I zoomed out to the day chart and the overall pictu

Posted Images

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.

US30H1.jpg.023b3d8502edba3b0f87854b6e6ed392.jpg

  • Thought provoking 1
Link to post
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. 

Link to post
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.

Link to post
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.

US30H1.jpg.023b3d8502edba3b0f87854b6e6ed392.jpg

 

 

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

Link to post
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 :D

Link to post

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 :)

 

1598409718_WallStreet_20200423_23_22.thumb.png.96adb9450cf0fa0782685286e3f81f72.png

Edited by dmedin
Link to post
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.

Link to post
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.

Link to post
11 hours ago, dmedin said:

Having another go :P

 

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,

image.thumb.png.ae8588c980a05f4d2a7a695edfe48d5c.png 

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 😪

image.thumb.png.3a6eb22eed31a8efcf9109ea58406469.png

 

*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.

Link to post

 

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 :D

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.

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • General Statistics

    • Total Topics
      15,118
    • Total Posts
      73,110
    • Total Members
      61,428
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    Venkatd7
    Joined 06/05/21 04:29
  • Posts

    • Hi  For those interested in the Video Gaming industry we recently interviewed the product manager for VanEck Video Gaming & Esports ETF to talk about how the industry will perform as lockdown measures start to ease and what is fueling future growth https://blubrry.com/igtradingthemarkets/74972956/how-investors-can-profit-from-the-growing-video-gaming-and-esports-industry/   Are there any other exciting sectors you would like to see covered on the podcast by an industry expert?
    • Yes I am aware that I have selected the guaranteed stop level as I have been for a while in preparation for when the live account is approved, the live account will have to use a guaranteed stop on each trade, which I think is a good idea as it reduces exposure to risk and the margin required as it is a controlled risk as apposed to an uncapped or un controlled risk. Normally the stop limit on this trade is a minimum of 8 points, in this screen shot it it is set at 30 points which has increased the required margin to $1775, when it is at 8 or 10 the margin would be around $1300. If I set the stop to 139 points the margin will increase to $17,000 or more, obviously blocking the trade with a $10,000 account fund. Thank you for your suggestion,  however it isn't because I have selected a guaranteed stop as I normally do. having given this some thought, I guess if there is excessive price volatility / uncertainty, as there is when the price is at 1.39000 the system sets the GSL very high for protection, the price could easily run away, that being said if it was hit at 139 it would lead to a massive loss, maybe $7000.  
    • Hi guys.  Wanted to thank you guys for viewing my posts and hope you have found it helpful . If anyone has any feedback as to how I can improve them to provide more help please shoot them here.   God Bless CA
×
×
  • Create New...