Indices

[dmedin]

22 minutes ago, Caseynotes said:

lol, you've been doing this a few months and are now telling everyone how the industry should be run 🤣

All along it was pointed out you were just gambling because you clearly had no repeatable, verified process. You ignored all advice and have now concluded this is all just gambling 🤣

Your 'advice' is worth less than toilet paper 🤪

[dmedin]

36 minutes ago, Caseynotes said:

FTSE and S&P daily with weekly pivot levels. 

Dax and Dow H1 with daily pivot levels.

 

 

So in summary: price may or may not hit pivot levels; price may or may not break through them and keep going; price may or may not retest; price may or may not retest then keep going; price may retest and fall back again; price may retest, fall back again, then go back up again; price might keep tapping them, falling away and coming back; etc.  Waste of time and money, great!

Edited May 4, 2020 by dmedin

[Caseynotes]

 

5 minutes ago, dmedin said:

 

So in summary: price may or may not hit pivot levels; price may or may not break through them and keep going; price may or may not retest; price may or may not retest then keep going; price may retest and fall back again; price may retest, fall back again, then go back up again; price might keep tapping them, falling away and coming back; etc.  Waste of time and money, great!

The support and resistance levels are areas of interest. if a level is broken the presumption is price will go on to test the next area of interest, along the way there will be dips which are buying opportunities in an up trend (visa versa for a down trend).

If a level is not broken price will reverse and the presumption is that it will go back to test the previous level of interest, again along the way there will be trade entry opportunities.

This is all basic Wyckoff stuff that I've been showing noobs on this forum literally for years, but a gamblers gonna gamble.

 

 

 

[dmedin]

🤪

[Caseynotes]

After a test and rejection of the daily pivot Dax found support at 10443 and now off the daily S1.

M30 Dax and Dow charts;

[Caseynotes]

FTSE fills the weekend gap but will need US help to continue upward.

Daily chart with weekly pivots;

[dmedin]

Sell in May and go away

 

[dmedin]

2 minutes ago, Caseynotes said:

continue upward.

🤣

[Caseynotes]

3 minutes ago, dmedin said:

Sell in May and go away

 

you should research the rest of the saying.

Edited May 4, 2020 by Caseynotes

[AndrewS]

12 hours ago, dmedin said:

And how is that working out for you?

Making any money?

 

This is not the first time you have asked me this.

The last week for me looks like this.

 

Markets	#Trades	#Profit trades	Win rate	P/L ratio	Return rate
Wall Street Cash (A$1)	76	70	92%	0.44:1	1.33

 

12 hours ago, dmedin said:

money. 

Comparison with chess - not sure about that.  Chess is a noble competition and 100% skill based. 

 

Trading is more like being down at the casinos, where everybody is trying to cheat everybody else out of their money.

 

I am achieving non-random results. I suppose you could say I am “cheating” by having a trading method.

[Caseynotes]

FTSE up on US open;

H4 Chart;

[dmedin]

9 hours ago, AndrewS said:

This is not the first time you have asked me this.

The last week for me looks like this.

 

Markets	#Trades	#Profit trades	Win rate	P/L ratio	Return rate
Wall Street Cash (A$1)	76	70	92%	0.44:1	1.33

 

If you can make a win rate of 92% consistently year-in and year-out then Goldman Sacks will be beating down your door to manage their wealth for them.  Why are you able to achieve a win rate enormously higher than almost every professional fund manager?  

 

8 hours ago, Caseynotes said:

FTSE up on US open;

H4 Chart;

 

Thanks for pointing out the blindingly obvious.

Edited May 4, 2020 by dmedin

[AndrewS]

1 hour ago, dmedin said:

 

If you can make a win rate of 92% consistently year-in and year-out then Goldman Sacks will be beating down your door to manage their wealth for them.  Why are you able to achieve a win rate enormously higher than almost every professional fund manager?  

 

The statistics are somewhat skewed by staggered entries and exits.

You dismiss the “how” with a moment’s consideration and then proceed to ask “why”.

[dmedin]

40 minutes ago, AndrewS said:

The statistics are somewhat skewed by staggered entries and exits.

You dismiss the “how” with a moment’s consideration and then proceed to ask “why”.

 

Not really ...

I want to see year-in, year-out results-based evidence.  Not much to ask for.  (All professional funds are benchmarked and the data is available for all to see.)

The reason it's all smoke-and-daggers around here is because your 'plans' are worth less than toilet paper unless you can find a way to actually make money, which is the only thing that matters.  I haven't found one single TA system that reliably makes profits from trading, but I have found plenty that are really ace in hindsight.

If you are getting >90% win rate then that puts you in the top-performing elite, and you should be able to take your system to all the big trading houses and get them to entrust their capital to you.  Heck, with a >90% win rate you should be able to get stinking rich managing a select portfolio of clients: set up your own hedge fund.  Even George Soros says he's only right 40% of the time!

Edited May 5, 2020 by dmedin

[AndrewS]

1 hour ago, dmedin said:

 

Not really ...

 

Yes really.

1 hour ago, dmedin said:

 

I want to see year-in, year-out results-based evidence.  Not much to ask for.  (All professional funds are benchmarked and the data is available for all to see.)

 

Al Brooks has a trading room and refuses to do this and I don’t blame him.

1 hour ago, dmedin said:

 

The reason it's all smoke-and-daggers around here is because your 'plans' are worth less than toilet paper unless you can find a way to actually make money, which is the only thing that matters.  I haven't found one single TA system that reliably makes profits from trading, but I have found plenty that are really ace in hindsight.

If you are getting >90% win rate then that puts you in the top-performing elite, and you should be able to take your system to all the big trading houses and get them to entrust their capital to you.  Heck, with a >90% win rate you should be able to get stinking rich managing a select portfolio of clients: set up your own hedge fund.  Even George Soros says he's only right 40% of the time!

Perhaps what seems more difficult is actually easier. Gain a small edge with a discretionary framework and build on that by acquiring a skill rather than a mechanical system.

[dmedin]

DOWN SHE GOES, TOM BOMBADIL.

 

 

 

WHEEEEEE!!!!

 

[dmedin]

1 hour ago, AndrewS said:

Al Brooks has a trading room and refuses to do this and I don’t blame him.

 

And therefore the world will continue to refuse to believe these bullsh!tters

 

[dmedin]

1 hour ago, AndrewS said:

Gain a small edge with a discretionary framework and build on that by acquiring a skill rather than a mechanical system.

Sell in May and go away ...

No skill required ...

(Skills I would consider to be things like mastering Excel spreadsheets and Python programming, not punting away on charts with dubious 'indicators')

[dmedin]

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT

^

 

[Caseynotes]

26 minutes ago, dmedin said:

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT

^

 

what hypothetical performance results, I keep my own stats, always have done, same as I advised you to do but no, too much like work.

anyway wasn't expecting to hear from you again til mid September, what happened to sell in May and go away?

[phillo]

#FTSE 100

[Caseynotes]

FTSE and S&P at the weekly pivot, daily charts.

Dax and Dow at the daily R1, H1 charts;

[Caseynotes]

S&P and FTSE H4 with weekly pivots and WPR.

[Jossy]

On 02/05/2020 at 12:24, Caseynotes said:

Not a silly question at all, many sites such as Barchart, Tradingview, Marketwatch are quoting exchange prices but if you are trading through a broker you will be looking at the best prices the broker can offer. Brokers obtain their prices from many sources including exchanges such as major banks, hedge and pension funds, large institutions.

Having many liquidity providers allows a 24 hour market 5/7 market and is why no 2 brokers ever have the exact same quotes though they should all be close to the exchange price they track. It's also why many indicators will look different than those based solely on exchange OHLC and the inclusion of the broker's 1 hour daily Sunday candle distorts indicators even more.

Hi Again,

 

ok thanks for your help on this. so i'm just trying to make out money management for my future portfolio (most likely losers!) but what im wondering is about the margins returned once a trade is closed? so i get how the margin is calculated initially (5% or 10% of buy price/sell price) so say if my stop loss at 10% or whatever is hit and i get out of that trade....do i still get the initial margin i paid back or has the margin now devalued also now that the value is 5 or 10% less and i end up not only losing on my trade but losing 10% of my margin also?

many thanks for your help....

[Caseynotes]

1 minute ago, Jossy said:

Hi Again,

 

ok thanks for your help on this. so i'm just trying to make out money management for my future portfolio (most likely losers!) but what im wondering is about the margins returned once a trade is closed? so i get how the margin is calculated initially (5% or 10% of buy price/sell price) so say if my stop loss at 10% or whatever is hit and i get out of that trade....do i still get the initial margin i paid back or has the margin now devalued also now that the value is 5 or 10% less and i end up not only losing on my trade but losing 10% of my margin also?

many thanks for your help....

Hi, no you don't pay margin as such, it's just the amount you need to hold in your account to open and cover a leveraged trade. If the trade goes against you you will need more margin and so less available funds for other trades. 

[dmedin]

LOOOONG THE INDICES WOOO!

I knew it all along

 

[dmedin]

9 hours ago, Caseynotes said:

what hypothetical performance results, I keep my own stats, always have done, same as I advised you to do but no, too much like work.

anyway wasn't expecting to hear from you again til mid September, what happened to sell in May and go away?

 

GO LONG 😻

[Caseynotes]

S&P reaching for the weekly R1,

Daily chart;

[Caseynotes]

S&P bouncing up off the weekly pivot.

FTSE and S&P daily charts with weekly pivots.

Dax and Dow H1 charts with daily pivots;

[dmedin]

OH NO!  I LOST AGAIN!