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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

5 hours ago, Caseynotes said:

 

 

 

*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.

 

Okay.  Some I can use some money to do short-term trading and use other funds to hold positions for longer.  This might make the 'trial days' when nothing much is happening most bearable.

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I'm learning everything again!  It's like being lobotomized and starting from scratch ...

What's the point in using MAs if you are using the MACD?

Unless you love to plaster lines all over your chart to the point where everything and anything is possible ...

292812324_WallStreet_20200424_13_00.thumb.png.fdc4f40945c430a5dcbfd9c50227233a.png

Edited by dmedin
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36 minutes ago, dmedin said:

I'm learning everything again!  It's like being lobotomized and starting from scratch ...

What's the point in using MAs if you are using the MACD?

Unless you love to plaster lines all over your chart to the point where everything and anything is possible ...

292812324_WallStreet_20200424_13_00.thumb.png.fdc4f40945c430a5dcbfd9c50227233a.png

quite, but what's any of it for?

Recent uptrend. 1/ recognised significant level the Piv. 2/ close above the Piv > entry with stop loss just below Piv, Take Profit at 1:2 R. Job done.

image.thumb.png.7cf9c29849d424409a4a3c7a11375fdd.png

 

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US markets close;

S&P 500 UNOFFICIALLY CLOSES UP 1.31 PERCENT, AT 2,834.49

DOW JONES UNOFFICIALLY CLOSES UP 1.01 PERCENT, AT 23,752.16

NASDAQ UNOFFICIALLY CLOSES UP 1.58 PERCENT, AT 8,628.71

S&P daily chart.

image.thumb.png.9b99ab09fa299bf4c66829491d611e68.png

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I've nearly run my trading account down to zero, and if I'd just held on to my long positions from before Easter I'd be doing fine and nearing £10,000.  More than making up for losses I made in 2018.

Isn't it ironic.  Suicide by overtrading/day trading.  :)

Edited by dmedin
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17 hours ago, dmedin said:

It's like being lobotomized and starting from scratch ...

I actually did end up re-learning the same lesson as before - these indicators are little better than a random coin toss!

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One gets a slightly different picture when one filters out IG's sh!tty Sunday candles, which totally distort all the indicators and patterns. (On the web platform it is shown as being above the 50 day SMA).

  Shame there's no way to filter out the misleading Sunday candles on the web platform.

DJI-Daily.thumb.png.860ed6b4418a2a9a7c37da15f9cdce13.png

 

Edited by dmedin
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Just now, Caseynotes said:

hmmm, not sure, what indicators are you using?

image.thumb.png.787072009a15be212bfb1d2996b6b004.png

 

Fell asleep early last night, the sell indicator turned around before I had a chance to make any money and before you know it I woke up with losses.  Obviously Amazon et al reported decent earnings.  Wouldn't have had that problem if I'd stuck to my daily chart would I?

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2 minutes ago, dmedin said:

One gets a slightly different picture when one filters out IG's sh!tty Sunday candles, which totally distort all the indicators and patterns.  Shame there's no way to filter out the misleading Sunday candles on the web platform.

yes it would be useful if their indicators had an option to disregard the Sunday 1 hour data.

image.png.a496e1d9da28064ca24ffe58121a46bc.png

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3 minutes ago, dmedin said:

 

Fell asleep early last night, the sell indicator turned around before I had a chance to make any money and before you know it I woke up with losses.  Obviously Amazon et al reported decent earnings.  Wouldn't have had that problem if I'd stuck to my daily chart would I?

yes, it's a nuisance that price can go down as well as up, you'd think someone would do something about it 😡

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2 hours ago, Caseynotes said:

yes, it's a nuisance that price can go down as well as up, you'd think someone would do something about it 😡

 

Prices go up and down more or less randomly, yes.  You'd think people wouldn't be stupid enough to trade on very short time frames :D

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1 minute ago, dmedin said:

 

Prices go up and down more or less randomly, yes.  You'd think people wouldn't be stupid enough to trade on very short time frames :D

oh dear, still much to learn on the causes of price movement.

Actually I was just reading about someone talking of oil going to minus $100 a barrel next month as storage prices rise due to excess demand and decreasing supply (of storage facility). How many barrels would the average bath hold do you think?

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On 25/04/2020 at 19:42, dmedin said:

 

Prices go up and down more or less randomly, yes.  You'd think people wouldn't be stupid enough to trade on very short time frames :D

The funny thing is that you continually post that trading on short time frames is hopeless and yet there are signs that when you attempt to do it you are blinded by hope and fail to see what is in front of your eyes. Trade what you see (with a framework of high probability setups and good risk/return) not what you hope.

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