Indices

[dmedin]

Well Tom, what's the 15 minute saying now?  🧐

[phillo]

Quote

 

[dmedin]

Ahhh!  Good old hindsight with the chart 'patterns'

 

Goawing foaward!  

Edited September 28, 2020 by dmedin

[dmedin]

Look at that big juicy divergence portending a big dookie to come Kathleen 🤓

 

[dmedin]

Look ma!  Look paw!  Nae hands! 

 

[HMB]

22 minutes ago, dmedin said:

Look ma!  Look paw!  Nae hands! 

 

congrats.

[dmedin]

5 minutes ago, HMB said:

congrats.

It's on its way back down.  Simply unbearable to sit and watch.

 

 

[HMB]

2 minutes ago, dmedin said:

It's on its way back down.  Simply unbearable to sit and watch.

 

 

is this a strategy for trending markets?

[dmedin]

I have a theory as to why nobody else here posts their trades.

Do you want to hear it?

Okay.  The vast majority of retail punters LOSE and they don't want to show off that fact by exposing their trades.

Now, as to WHY they keep on trading even although they keep losing, that I cannot answer.

[dmedin]

Just now, HMB said:

is this a strategy for trending markets?

 

I'm trying a pure candlestick/pivot/MACD strategy, using the MACD to help confirm turns as indicated by candle patterns.  The pivots are mainly there to give me a bearings.

[HMB]

Just now, dmedin said:

 

I'm trying a pure candlestick/pivot/MACD strategy, using the MACD to help confirm turns as indicated by candle patterns.  The pivots are mainly there to give me a bearings.

..ok, on a higher level - you're trying to catch breakouts early..?

[HMB]

3 minutes ago, HMB said:

..ok, on a higher level - you're trying to catch breakouts early..?

...sorry, think I misunderstood, you said "turns"  - so I guess for an oscillating market, right..?

[dmedin]

2 minutes ago, HMB said:

..ok, on a higher level - you're trying to catch breakouts early..?

More like momentum-following I think?

Trying to 'buy dips' and 'sell rallies' but indicators are useless for this purpose, as are moving averages, Fibonaccis and ... well, technical analysis in general  

[dmedin]

Just now, HMB said:

...sorry, think I misunderstood, you said "turns"  - so I guess for an oscillating market, right..?

Yes?

I think so.

Maybe it needs a filter of some sort, such as not buying if it's trending down and not selling if it's trending up.  What is the 'trend' on a 15 minute time scale?

What is the 'trend' on a daily time scale at the moment?  neither up nor down ... 

[dmedin]

Not moving the stop or any such like, as we are going for 1:1.5 risk-to-reward.  You don't move your stop to break even if you accept the potential loss at the beginning of a trade.  (If you are moving your stop to break even it means you weren't prepared to take that loss in the first place.)

Taking a fixed R:R is so counterintuitive, and keeps you out of big trending moves.  But even with a fixed R:R you still have to sit and watch your profits evaporate, in a slow excruciating torture.

 

Why do people trade?  It's about as much fun as getting your teeth removed.

Edited September 29, 2020 by dmedin

[HMB]

20 minutes ago, dmedin said:

 

I'm trying a pure candlestick/pivot/MACD strategy, using the MACD to help confirm turns as indicated by candle patterns.  The pivots are mainly there to give me a bearings.

got it, I think

 

[dmedin]

8 minutes ago, HMB said:

got it, I think

 

 

To make matters worse, when you 'backtest' (using any method) you get results that are completely different from live trading.

I even think my brain is reacting differently to TradingView charts and IG Demo charts.  Because on TradingView I have a 50% success rate and on IG I have a 100% failure rate

[dmedin]

Here we go, £100+ profit is about to turn into a loss:

 

 

[HMB]

24 minutes ago, dmedin said:

Yes?

I think so.

Maybe it needs a filter of some sort, such as not buying if it's trending down and not selling if it's trending up.  What is the 'trend' on a 15 minute time scale?

What is the 'trend' on a daily time scale at the moment?  neither up nor down ... 

ok, makes sense now

[dmedin]

Just now, HMB said:

ok, makes sense now

I'd prefer to just trade off candlesticks and not have an 'indicator' at all

 

[dmedin]

Daily pivot is much better, just not sure if it's valid because of the way how IG distorts all its indicators and moving averages by using a 'Sunday candle' that no other broker or market participant uses

 

[HMB]

1 minute ago, dmedin said:

Here we go, £100+ profit is about to turn into a loss:

 

 

hope not

[dmedin]

Just now, dmedin said:

I'd prefer to just trade off candlesticks and not have an 'indicator' at all

 

I mean, I'd prefer not to be trading at all  

[HMB]

6 minutes ago, dmedin said:

Here we go, £100+ profit is about to turn into a loss:

 

 

I'm bullish for now till cash close...

[HMB]

(guess NDX pain trade would be back above 11350...)

[HMB]

note the 195 at 15:50:00...:

[dmedin]

Totally fizzled out.

Oh well there's always tomorrow...

[dmedin]

A big stonker at the eleventh hour Kathleen!  🤓

 

[dmedin]

Bouncing off the pivot and the downward trending RSI line

 

[dmedin]

Why am I 50% successful on TradingView and 100% unsuccessful on IG?

Inadvertent hindsight?  

Edited September 29, 2020 by dmedin