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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

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There's a good chance this is 'it', the big fall that the professional investors have been calling for ('the most hated rally ever', i.e. the rally that retail investors made money on) 

 

Wall Street sh!ts a brick

1524268112_WallStreet_20200723_20_33.thumb.png.b9d31205fb7a3e9948ac950eec496838.png

Edited by dmedin
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One of the uses of moving averages is that it takes time for the momentum to dissipate (unless it is a V top or bottom). First the 9 min or 20 min moving average is breached and then there may be a retracement back towards the lows. Then the 100 minute moving average is tested and may fail to breach it giving another higher low and so on.

 

SPX500M1.jpg.41d400452d017cfb14ce5fd90d121ba1.jpg 

 

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15 minutes ago, dmedin said:

There's a good chance this is 'it', the big fall that the professional investors have been calling for ('the most hated rally ever', i.e. the rally that retail investors made money on) 

 

Wall Street sh!ts a brick

1524268112_WallStreet_20200723_20_33.thumb.png.b9d31205fb7a3e9948ac950eec496838.png

I don’t really care so long as it doesn’t do what the Dax did mid-week.

GER30H1.jpg.93a2f96534dcea72efe4cb7092fb1011.jpg

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Think twice before shorting the U.S. indices

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Futures indicate the S&P 500 to open lower and down marginally for the week, which has been quite a volatile one. Monday’s aggressive rally at the close was countered by a sharp reversal in the last hour of trade on Tuesday before the uptrend resumed to take the broad market to its best level since February. What we are seeing is a slow grind and lots of indecision, which could be the hallmark of the next 6 months with a largely sideways but volatile market. 

 

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    • Hi kinda interested in your margin problem, I trade very small cap shares in spread bet in both Uk and US, then the margin call is very rare as long as you have enough capital to cover the 80% falls that can occur with odd news. Have worked of Forex a lot and just find it too unstable. Just wondere if ant other person has this method. I would be interested to share ideas.   
    • By the way if its a system you want to demo or try, I trade US 500 and Russell Long only, with no stops, I would not trade with no stops for gold, oil etc but am happy to do it on US indices as nothing recovers as quickly as US markets, so if I am wrong i just hold it until it goes in profit again, when I am wrong I wait until market recovers, so sometimes when market has gone against me I have to wait 4 -8 weeks before it recovers but this way means no drawdowns only overnight currency charge which is minima. You need to trade wihin your accoutn to do this as you need to make sure your balance is big enough when you get it wrong. You could try it on IG demo account  to see if it worked for you.
    • Yes your balance needs to be above 0, that's your most important number don't fall into the trap of thinking if its above 0 you can put trades on, you can but your balance needs to be big enough that if they go against you, you are still above 0, if not you get messgage from IG to add funds to your account or IG will take you out of trades, so if you had a trade you wanted to keep on it would now be taken out as a loss as funds in balance are in minus. You need a big enough number left in the balance column that if your trades go against you you can still hold if you want to.
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