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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   ???

Apple warns may miss quarterly guidance estimates due to virus impact starts a new pullback in the indices.

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14 minutes ago, dmedin said:

There's perfect money-losing market behaviour for you.  At least six fake breakouts, three on either side.  Enjoy losing money when betting either way :D

138082844_Germany30_20200810_09_14.thumb.png.50cc7d2bba0dd165bafa146e0ea13b72.png

 

Most breakouts of a range fail, most reversals of a trend fail.

 

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Holy smokes, the S&P 500 is back above 3300.  I sold a September 3300 call option a while ago thinking there was no chance of it making money.  Crikes! Just goes to show you should hold on to your options till the bitter end.1317753698_US500_20200811_11_57.thumb.png.c5ea11d20aab3d5733b5a2893abbec54.png

 

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God **** I don't understand these markets 

Headline news British economy suffered record collapse in the second quarter

FTSE rises fast from open¬† and I drop 500 in about 25 minutes!¬†¬†ūüėĖ

Looks like one of the biggest bullish 30min candles in weeks. 

That's it I am staying away from the 'Open', don't know diddlysquat about it 

 

Edited by DavyJones
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18 minutes ago, DavyJones said:

God **** I don't understand these markets 

Headline news British economy suffered record collapse in the second quarter

FTSE rises fast from open¬† and I drop 500 in about 25 minutes!¬†¬†ūüėĖ

Looks like one of the biggest bullish 30min candles in weeks. 

That's it I am staying away from the 'Open', don't know diddlysquat about it 

 

the market is not the economy, the companies that make up the ftse are big internationals and have their biggest market in the US so ftse and dax will follow the US indices which are an expression of future confidence in the US economy and so the US consumer. The UK market is not that important to them. 

image.thumb.png.0b23ee2c7642d35b35bafbeb5bf72f4d.png

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4 minutes ago, Caseynotes said:

the market is not the economy, the companies that make up the ftse are big internationals and have their biggest market in the US so ftse and dax will follow the US indices which are an expression of future confidence in the US economy and so the US consumer. The UK market is not that important to them. 

after I posted that I check the 250, that's much more UK focused I'd imagine. That gapped down

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2 minutes ago, DavyJones said:

after I posted that I check the 250, that's much more UK focused I'd imagine. That gapped down

yes, smaller companies. also you are right to avoid the open when there is always turmoil with big volumes going through in both directions, rather wait for things to settle and one way direction to the next level is established. 

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4 minutes ago, Caseynotes said:

yes, smaller companies. also you are right to avoid the open when there is always turmoil with big volumes going through in both directions, rather wait for things to settle and one way direction to the next level is established. 

another lesson learned! I think I'll have to turn to swing trading , my Day trading is just not looking  feasible 

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6 hours ago, DavyJones said:

another lesson learned! I think I'll have to turn to swing trading , my Day trading is just not looking  feasible 

 

With higher time frames and looser stops you're less beholden to 'events', this is evidenced by backtesting using a purely mechanical approach and simply following the signals.  Responding to events is a mug's game anyway because there will always be 'unexpected' announcements...

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57 minutes ago, dmedin said:

With higher time frames and looser stops you're less beholden to 'events', this is evidenced by backtesting using a purely mechanical approach and simply following the signals.  Responding to events is a mug's game anyway because there will always be 'unexpected' announcements...

thanks dude, problem is that some news events are quick wins like HERTZ EasyJet,  but Indices I find it difficult to work out

 

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1 minute ago, DavyJones said:

thanks dude, problem is that some news events are quick wins like HERTZ EasyJet,  but Indices I find it difficult to work out

 

lol I'm the opposite and find it far harder to trade individual stocks.  

Mainly because of the constant gapping.

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2 minutes ago, dmedin said:

ol I'm the opposite and find it far harder to trade individual stocks.  

Mainly because of the constant gapping.

I think my best strategy is 20k "all on red", better that the daily waterboarding¬†ūüėĄ

 

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1 hour ago, dmedin said:

Japan breaks through Eileen ūüėė

 

Japan 225_20200812_16.21.png

It has been following the European indices higher, but with a 400 point rise after its close I think some buyers may be setting themselves up for a disappointment.

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