Jump to content

Is spread betting for fools?

Recommended Posts

Posted (edited)

I watch the trend on daily and weekly (rarely, monthly) and use 1 or 4 hours to time entry and exit.

Buy signal: current price > 5MA (or EMA) > 20MA (or EMA) > 50MA (or EMA)

Buy confirm/filters: increased volume, going in direction of trend

Sell signal: current price < 5MA (or EMA) < 20MA (or EMA) < 50MA (or EMA)

Sell confirm/filters: inreased volume, going in direction of trend

I also look at the RSI for divergences

1396180856_Oil-BrentCrude_20190718_15_03.thumb.png.46157e296346df93c977374ebfaf1e20.png

Edited by dmedin
  • Like 1

Share this post


Link to post
30 minutes ago, nit2wynit said:

@Caseynotes  So what does work for you then?

Tis not scoff, I'm not keen on patterns on lower time frames, if you look hard enough you will see them everywhere though can't really see your wedge at all. I stick to dip buying between significant levels.

Price was moving sideways along S1, I was waiting for a pullback on the way to either to the pivot upwards or S2 downwards.

Price did move up and there was a pullback but without much continuation, price fell back to S1 when the news sent it parabolic upward. These moves are usually overdone and a steady correction is the most likely move to follow.

I see from your more recent post you mean a channel and are jumping around on the time frames to find it, on the start of the impulse move there was no channel or wedge, only a trendline of sorts (2nd chart) with a lower high failure before the news. I am reminded why I don't like patterns on lower time frames.

image.thumb.png.d614edc5a454ed9a8b08de4cc79f2102.png

image.thumb.png.2dec4b3b87cbda958c4c0445c63c149d.png

 

Share this post


Link to post

I think i have a problem with how I see the charts patterns then.  Maybe i have them too bunched up, too stretched out.  I see clear up and down patterns everywhere i look.  I'm obviously fooling myself that this relates to good point moves when really it's maybe just a skewed chart.

Listen guys.  I know you've all posted.....but i am ready to learn now.

@Caseynotes to the chart above that is my Ascending wedge. the diagonal yellow line from the lowest point to the spike.

Yes it failed a 2nd breakout.  Lesson learned once again.  It's the very first time I actually waited till it broke the previous high after the spike.  but it failed to climb.

Went out for the afternoon and bought a bike.  I need a reboot.  Prologue, not page 1.


You've mentioned Academy.

Is this the best place to start from scratch?

Share this post


Link to post
26 minutes ago, dmedin said:

I watch the trend on daily and weekly (rarely, monthly) and use 1 or 4 hours to time entry and exit.

Buy signal: current price > 5MA (or EMA) > 20MA (or EMA) > 50MA (or EMA)

Buy confirm/filters: increased volume, going in direction of trend

Sell signal: current price < 5MA (or EMA) < 20MA (or EMA) < 50MA (or EMA)

Sell confirm/filters: inreased volume, going in direction of trend

I also look at the RSI for divergences

I've no idea what those numbers mean.

I was supposed to spend the weekend researching and learning but it didn't happen.

My concern is this is your thread and you claim it's all a con lol.

You clearly have more knowledge than me so what's going wrong then?

I'm still struggling to accept why I have 80% success on the Demo regardless of Fear, i still made profits regularly.

Maybe I've just spent too much time on Gold and the FTSE and it's not been moving much over the day.

Something else to analyse I guess.

Share this post


Link to post

To add, disappointingly ,If I gone in with british Tobacco this morning, I'd be £170 up :O

Shoulda Woulda Coulda

  • Thought provoking 1

Share this post


Link to post
4 minutes ago, nit2wynit said:

@Caseynotes to the chart above that is my Ascending wedge. the diagonal yellow line from the lowest point to the spike.

Yes you are framing the chart to see what you want to see rather than just what's there, you can't see a wedge by just ignoring the prior peak ( 2).

The chart structure is saying;

1 tried to break lower from S1 - fail.

2 tried to break higher from S1 to the pivot, got a good distance then failed and fell back to S1.

3 tried the same move again and even worse failure.

4 try again, dismal.

the next most likely move was another try lower towards S2. But then came the news flash and the sudden move up, as usual it was overdone and price has since retraced 50% (white line).

If you look too hard at a chart you will eventually see whatever you want.

From the book of Cred verse 19.  After enough screen time, you should be able to look at a chart and within a very short time ascertain if there’s a trade there. It should scream at you. If it doesn’t, there’s probably nothing there.

image.thumb.png.7d0814475569f3bb6189e637189d605f.png

  • Thanks 1

Share this post


Link to post
33 minutes ago, nit2wynit said:

You've mentioned Academy.

Is this the best place to start from scratch?

The Academy is good and won't take long to get through (recommended 1 month ago).

The Cred Study Guide is better and will take a little longer (recommended 2 weeks ago). do the guide first watch the videos later.

https://docs.google.com/document/d/15c3rN15rkXldY8Te3GDG4NG7noaaoikydOoZQlElwXw/preview?pru=AAABaf3_sQE*PXVDTaKtvm5VtQcvpBug2w

  • Like 1
  • Thanks 1

Share this post


Link to post

Can anyone enlighten me as to what this grey area is?  I'm educating myself today, but lack the vocab to search for an answer online.  I've not placed a trade.  Minimum Stop is 34pts.  But then I see an extended grey below it.

 

 

58666588_greybit.thumb.jpg.60710721573030d3f141c2db3e749bc1.jpg

Share this post


Link to post

Ahhh, it must be the Spread??  So it's a guide to minimum Stop level, but add the spread also, if you wish.?  :D

Share this post


Link to post
30 minutes ago, nit2wynit said:

Ahhh, it must be the Spread??  So it's a guide to minimum Stop level, but add the spread also, if you wish.?  :D

That's right, it's the spread.

Make sure you put a stop a decent distance beneath it otherwise you can find yourself being closed out almost immediately after placing the trade 😱

Share this post


Link to post
56 minutes ago, nit2wynit said:

Ahhh, it must be the Spread??  So it's a guide to minimum Stop level, but add the spread also, if you wish.?  :D

I don't use this platform to trade on but are you sure this is right, if you've pressed buy to go long and the chart price is set to mid and is 3291, the spread is 18 points then 3291 plus half the spread (9 points) is the entry at 3300.

If you had set the chart price to bid instead of mid you would see the whole spread on entry as the chart price would be 3282 + 18 spread to give entry price 3300.

I don't know what that grey area underneath is. 

image.thumb.png.f001ef54515a4bc692fd4c785826462a.png

Share this post


Link to post
1 minute ago, dmedin said:

@Caseynotes

 

What do you prefer to use for trading?

MT4, lower latency, better indicators, downloaded onto pc, can run simulators, has built in trading performance metrics logging, ... just off the top of my head.

But it doesn't do stocks/shares though.

 

  • Like 1

Share this post


Link to post
Posted (edited)
4 hours ago, Caseynotes said:

If you had set the chart price to bid instead of mid you would see the whole spread on entry as the chart price would be 3282 + 18 spread to give entry price 3300.

regardless of what it is set to, I know what those numbers represent.  The Limit line is my Buy price.

I'm pretty sure the Gray area, as maybe confirmed also by Dmedin, is what's left of the Spread.

this explains why so many times in the past I've been prematurely Stopped Out.  I didn't allow enough room at the bottom for the Spread.  It's disappointing that this Area disappears when the trade is Live.

@Caseynotes I'm sure Time is very important, but with regards to Latency....How much time are we actually talking about.?

Edited by nit2wynit

Share this post


Link to post
28 minutes ago, nit2wynit said:

BTW.  Pivot Points are a great Help :D

Glad to hear re pivot points, they need to be assessed for each market but they are so related to H4 and daily support and resistance levels they should be good for most.

The limit line is your take profit level, if you click and hold you can slide it as far up as you want.

The entry level is on the left column and will just say +/- the position size while the stop and limit above and below will say the amount to lose or gain.

This is basic stuff, you really should find the time to look at the academy :D

Share this post


Link to post
Guest gavguns
On 18/07/2019 at 15:48, dmedin said:

@nit2wynit

Sometimes I just wish someone would come along and put me out of my misery.

Look I'm no expert trader, but  @dmedin you do realise that IG's business profits from your money? Has it occurred to you that there might be a conflict of interest in also being involved in your education? I mean they generate HUGE profits, they must be terribly disappointed that their education arm has such a poor success rate... And as for their fundamental analysis, it's almost as if it's misleading... Nah, it couldn't be, could it? #doh #thinkaboutit 

Share this post


Link to post
3 hours ago, Caseynotes said:

The limit line is your take profit level, if you click and hold you can slide it as far up as you want.

The entry level is on the left column and will just say +/- the position size while the stop and limit above and below will say the amount to lose or gain.

You're kidding...Right??

I've been trading since Feb lol

I know what they mean lol

Share this post


Link to post

@Caseynotes 

I know you get confused as you post so much you lose track of whom you're talking with but yeah.....Basics :D

Thanks though

Share this post


Link to post

Its facts,its obvious lots of novice individual being tricked by it.

You must have capital of 50 -100K for a start,and trade INDEXES, like NIKKEI,DAX,DOW,S&P.

To have holding power is A MUST .

Personally i feel that equities moves not volatile,

Do remember the charges by providers like borrowing,funding,commission etc.,these will eat up your capital daily like termites,NO FREE LUNCH ,CFD are for hardcore punters.

All the best,for HARCORE punters.

I envy rogue trader called,LONDON WHALE.

Cheers

hart

 

Share this post


Link to post
5 hours ago, nit2wynit said:

@Caseynotes 

I know you get confused as you post so much you lose track of whom you're talking with but yeah.....Basics :D

Thanks though

To make things a little clearer, when I said 'are you sure about this' what I really meant was that you are totally, utterly and completely wrong.

As the old saying goes there is nothing wrong with being wrong, it's the staying wrong that's the problem.

You need to look at my drawing on your chart pic again;

The 18 point spread is the 9 + 9 points either side of the chart price (which is set to mid) as I have drawn it. No, it's not 30 to 60 points away from the chart price in your shaded area below your stop loss. The stop loss is 34 points away from entry at 3300 for a long or 34 points away from 3282 for a short, the spread is already built into the stop loss.

LOL, as you say, you've been trading since Feb  and you thought the limit line was the entry line and you have no idea what the spread is or where to find it.

 yeah, basics.

I know you get confused as I have to post many corrections to your posts, what gets me though is that you always hold onto wrong for so long. And this must be the fifth or sixth time I've tried to help with one of your little 'misunderstandings', each time is meet with instant knee **** denial, in the meantime your account balance has gone from £2000 to £900. The clock is ticking down so probably best not to insult those who are trying to help :D

Share this post


Link to post
Posted (edited)

Wooooaaahhh.  Lost in Translation.  I didn't Insult you.  You recently got 'Confused' with me and the Dow or Dax......It was simply a nod to that.

I'm a grown man.  I'm not defensive, argumentative, sarcastic or a liar.  

 

But i'm afraid, You are Completely Wrong here. (I think!) The Limit Line IS my Buy in.!  It will change to either of the Buy or Sell price.  As I have it in the Mid position, it's simply changes either side of the Mid Price.  Therefore the Limit, if i don't set one, is the Buy Price.

Sorry bud, but as usual you've gone off on one and actually insulted me.

You are a character. :D

 

Edited by nit2wynit

Share this post


Link to post

@Caseynotes oh and btw, I've not gone from 2k to 900.

I had £1945.  I went down to £1437 and pulled out £400 to buy a bike.   On Friday last week I was down to £986, and took it back up to £1028.  Then went back down to £953.  I now have £953.


Previously in March I had £1400 and lost £400 over 3 weeks.  I pulled out 1k to Buy Pinterest.


 

Share this post


Link to post

@Caseynotes I refer you yourself back to the chart you edited.  The Limit IS my BUY in of 3300.  The Mid Price is as you've stated, i know this, and if I was Shorting the Limit line would be my Buy price at 3282.


I'm not completely certain of what you're actually pointing out.

I just want to know what the Gray area is.

So far Dmedin has come up with the simplest answer.  It appears to be 9 points-half the spread!


If there's another explanation i'd love to hear it.

Thanks

Share this post


Link to post

Sorry, Edit above.  

8 minutes ago, nit2wynit said:

So far Dmedin has come up with the simplest answer.  It appears to be 9 points-half the spread!

it appears to be 18pts.  The Entire Spread.

Share this post


Link to post

@dmedin @Caseynotes

It's possible the Minimum Stop changed as i was observing the chart.  On the example below, the same Gray area is present.  It's there to tell me that the minimum Stop is 20pts while I have it to 10.

Do you agree?

1049981625_grayarea.jpg.2a81b1a009777534306b390782df9a68.jpg

Share this post


Link to post
1 hour ago, nit2wynit said:

@dmedin @Caseynotes

It's possible the Minimum Stop changed as i was observing the chart.  On the example below, the same Gray area is present.  It's there to tell me that the minimum Stop is 20pts while I have it to 10.

Do you agree?

1049981625_grayarea.jpg.2a81b1a009777534306b390782df9a68.jpg

Ok I see;

 So in this example you've posted above you have got your chart price line set to Ask instead of Mid, see it's the same as the buy price (top left).

Slide the Limit order (take profit) level down out of the way so you can see your entry level.

Your stop for the sell is 20 points above your entry level.

Now toggle your price setting from Ask to Bid, see the price line drops down to your sell entry level which is the same as the Sell price (top left) but the Stop and Limit levels don't change.

Now toggle the price to Mid and the price line moves to mid way between the Sell and Buy but again the Stop and Limit levels don't change.

So the shaded area covers the 20 point stop from the Ask price level while the actual Stop level will always be taken from the Entry level.

 

 

 

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,257
    • Total Posts
      35,994
    • Total Members
      46,008
    Newest Member
    b3t0rd4nu
    Joined 20/08/19 15:21
  • Posts

    • just need to know which order type to use so that my stock wont expire as i plan to hold it for a long time,  any feedback would be appreciated, thankyou 
    • I'm sorry but I cannot rise to that bait. No comment
    • That may depend on which market you are referring to when you say "the market".  Agri commodities basically seem to move in ranges but within those ranges they may move in broad 5s or 3s.  As for FX, Indices and metals I have found that they do conform to the basics.  Don't know what you mean by "except when it doesn't", could you be looking at it incorrectly?  Maybe you could give us an example...
×
×