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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.

 

140564827_WallStreet_20200624_16_47.thumb.png.365d5a43cec71018f432ca64d121ad43.png

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I use only 2 MAs as a filter (used the same settings long time) Had some time over and did a backtest buy sell on cross I used a trailing stop and optimized the trailing stop only and for th

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

Dax pausing at the weekly R1 and Dow within striking distance of it's all time high. H1 charts;

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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 by dmedin
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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?

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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.😄

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31 minutes ago, Caseynotes said:

Why levels are so important for trading.

image.thumb.png.5be99d410d171e80c5a7a0ee4483c25b.png

 

 

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.

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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?

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

2097637730_WallStreet_20200625_15_22.thumb.png.a97aedfc5625bebf8d0280d40ee6b1f6.png

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 by dmedin
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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 🤯

1461944186_WallStreet_20200625_16_50.thumb.png.b2e0a27654ccc09d1ef6480c272bb939.png

Edited by dmedin
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17 hours ago, Kodiak said:

Nasdaq 240 min

Struggling with 10K

Interesting insight into Nasdaq's repeating 5% corrections near the end of the vid 'understanding auction imbalances' just posted in Technical Analysis thread.

image.thumb.png.43ae5c7fd9fb8f685976e8f263b963ef.png

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