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fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 de

That is the 50% retrace for  the Dow and S&P. 

Interesting S&P daily shaping up¬†ūüĎá

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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.

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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.

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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..?

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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..?

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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 :D 

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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 ... 

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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.

162671209_WallStreet_20200929_20_21.thumb.png.a8fceaa6d1ca56096dd59442f1568f4c.png

Edited by dmedin
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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

 

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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 :D

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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

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