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2 minutes ago, andysinclair said:

Yep, me too. I am one of those clients that went short as the market went up...looking back going long (and holding) at any point in the past 6 months would have been profitable. Trying to pick turning points is almost impossible, the trend is your friend...easier said than done though as you start to think "it can't possibly go any higher, must drop soon..." :D

and yet trying to pick tops or turning points is exactly what they are all trying to do, and failing consistently.

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Visualisation in Excel of current market situation: Built using https://www.excelpricefeed.com  

"...an inverting yield curve and weak June manufacturing data across the globe have divided analysts on whether or not a pullback is due. DWS forecasts a “moderate cooling of economic activity”, but J

Overnight remains risk off. Indices and Oil down. Gold and Bonds up with Bonds just pulling back. Today not much on the calendar so it's all about the virus. 

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28 minutes ago, Caseynotes said:

and yet trying to pick tops or turning points is exactly what they are all trying to do, and failing consistently.

In retrospect there are some clear signs of bottoms and tops forming, triple MA crossovers, RSI, candle patterns, gaps, the lot 😻

Edited by dmedin
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30 minutes ago, Caseynotes said:

not if done right, think of the lateral zig zag price takes to get from A to B, more miles = more points than as the crow flies, more work too though obviously.

🤔

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6 minutes ago, dmedin said:

In retrospect there are some clear signs of bottoms and tops forming, triple MA crossovers, RSI, candle patterns, gaps, the lot 😻

they are not in and out, they are in and staying in, they keep doubling down after being stopped out, see below the exact same thing from my post in early April 2019 in the SSI thread.

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@Caseynotes

I'm not convinced that day trading is better, considering how treacherous it is to short the U.S.  Far better to add to positions on dips.  These, again, you'd buy and hold.  So it might be worthwhile to study charts and try to find bottoms and dips (trending).  I'm not talking about client sentiment and trying to call tops.

Edited by dmedin
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1 minute ago, dmedin said:

@Caseynotes

I'm not convinced that day trading is better, considering how treacherous it is to short the U.S.  Far better to add to positions on dips.  These, again, you'd buy and hold.  So it might be worthwhile to study charts and try to find bottoms and dips (trending).  I'm not talking about client sentiment and trying to call tops.

I'm not trying to convince you of anything, I've no need to. I'm perfectly happy trading away day after day as I've done for years watching noobs come and go. Buy and hold is investing not trading and you just don't have the capital to do that as a career.

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2 minutes ago, Caseynotes said:

Buy and hold is investing not trading and you just don't have the capital to do that as a career.

A career?  No way.  Making better returns on investment is the only realistic goal.  Who has the capital to 'day trade' for a living?  I am still not convinced anyone can do that unless they are commanding huge sums of money and happy to live by the seat of their pants.  Not good.  No wonder most 'day traders' are hustling for additional cash in various places.

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Call it investing, trading, gambling, swindling, or tap dancing with polar bears - call it whatever the gosh darnit you like.  It's all about making money and that's all that counts!

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1 minute ago, dmedin said:

A career?  No way.  Making better returns on investment is the only realistic goal.  Who has the capital to 'day trade' for a living?  I am still not convinced anyone can do that unless they are commanding huge sums of money and happy to live by the seat of their pants.  Not good.  No wonder most 'day traders' are hustling for additional cash in various places.

get a job and invest any surplus into a buy and hold, fine. alternatively learn to trade for a living. the size of the account is not the make or break factor, to be able to grow an account is and that is done by having a system with a positive expectancy as demonstrated by a positive win rate vs risk/reward ratio on the running total of your trades.

no one is interested in convincing you, no one cares that you think the sum total of all day traders in the world are the 5 you have heard about that sell courses.

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5 minutes ago, Caseynotes said:

no one is interested in convincing you, no one cares that you think the sum total of all day traders in the world are the 5 you have heard about that sell courses.

I am, however, interested to learn the truth.  The truth is fearless.  😎

The truth is also: most IG clients are suckers and you should bet against them; and that most day traders fail miserably.

What else is true, I wonder?  :D

Reminds me of the job selection process.  1000 applicants, 999 rejected!  I wonder if a day trader's odds are any better than a job seekers'.

Edited by dmedin
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1 minute ago, dmedin said:

I am, however, interested to learn the truth.  The truth is fearless.  😎

The truth is also: most IG clients are suckers and you should bet against them; and that most day traders fail miserably.

What else is true, I wonder?  :D

true, nearly all noobs fail on their first attempt but some of them come back and try again, and again. Those in the 25% not losing money may well have taken many attempts to get there.

One of the main problems noobs have is that they think trading is all about TA but in fact TA is about 5 - 10% of it. They all spend too much time on TA and don't even attempt to start to build a self styled rules based system for trade selection, entry and exit. That's unfortunate because without that they have nothing and the sooner they see that the sooner they start down the right path. I've spent years saying just that on this forum but it's very rare any noobs actually listen.

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4 minutes ago, Caseynotes said:

true, nearly all noobs fail on their first attempt but some of them come back and try again, and again. Those in the 25% not losing money may well have taken many attempts to get there.

One of the main problems noobs have is that they think trading is all about TA but in fact TA is about 5 - 10% of it. They all spend too much time on TA and don't even attempt to start to build a self styled rules based system for trade selection, entry and exit. That's unfortunate because without that they have nothing and the sooner they see that the sooner they start down the right path. I've spent years saying just that on this forum but it's very rare any noobs actually listen.

 

Eh? Can't hear :D

 

Edited by dmedin
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The US/China phase 1 trade deal expected to be signed this afternoon (GMT) but there seems to be a lot of uncertainty as to what, if anything will be revealed as to what's actually in it. Could well be a market moving event one way or the other.

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Indices continue upward, Bonds down, Oil and Gold up overnight.

Today UK retail sales at 9:30am. EU CPI at 10am. US housing data at 1:30pm. US Mich consumer senti at 3pm.

@Charlotte, just to note loading the platform has been incomplete all week (see blank spaces below), never been a problem before.

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2 hours ago, Caseynotes said:

Indices continue upward, Bonds down, Oil and Gold up overnight.

Today UK retail sales at 9:30am. EU CPI at 10am. US housing data at 1:30pm. US Mich consumer senti at 3pm.

@Charlotte, just to note loading the platform has been incomplete all week (see blank spaces below), never been a problem before.

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image.thumb.png.6425c6b5e580fc3151ceb431876b7dbb.png

Thank you for the heads up. I will send this to the technical team and get back to you. 

If anyone else has experienced this let me know. 

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2 hours ago, Caseynotes said:

Indices flat. Bonds, Gold and Oil.

US bank holiday today.  

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They suggested normal trouble shooting steps, removing and re-added boxes onto the page. However, it's been some time now. Has this resolved itself? If not I would suggest calling them and asking for the technical team directly. 

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1 minute ago, CharlotteIG said:

They suggested normal trouble shooting steps, removing and re-added boxes onto the page. However, it's been some time now. Has this resolved itself? If not I would suggest calling them and asking for the technical team directly. 

no problem today, was taking a long time to load all last week and often skipping a box but on Friday 2 boxes wouldn't load so looked like the problem was getting worse. I'll see what happens this week.

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1 hour ago, Caseynotes said:

no problem today, was taking a long time to load all last week and often skipping a box but on Friday 2 boxes wouldn't load so looked like the problem was getting worse. I'll see what happens this week.

Thanks @Caseynotes, do let me know. Glad it's working now :)

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