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Mr Chrisen

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28 minutes ago, maringachrisen said:

Hello there! 

How to trade on IG ?

Hi, on your IG welcome page click on the Academy tag to get started (see pic below);

image.thumb.png.751b7f26473a907486e3119176026f98.png

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8 minutes ago, dmedin said:

Flip a coin - heads long, tails short.  Hope this helps!

and this system will work perfectly fine so long as losing trades are closed early and winning trades are let to run so that the average win of the winning trades is greater than the average loss of the losing trades, a 50% win rate (coin flip) only needs a risk (loss) to reward (win) ratio of 1:1.5 to be profitable, see graph below;

  image.png.cd62ce5fb7d89f9c995426ab27cb17e3.png

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5 minutes ago, dmedin said:

@Caseynotes

 

Have you read Burton Malkiel's 'A random walk down Wall Street'?  Any thoughts on it?

no, haven't read that one though have heard of it, is it recommended?

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7 minutes ago, Caseynotes said:

no, haven't read that one though have heard of it, is it recommended?

Well I only just got it myself, had a quick flick through the section on TA and he isn't a fan.  Will need to see what the rest of the book contains, and what he recommends instead :D

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Just making a start on Burton Malkiel's 'A random walk down Wall Street'.  Found a nice quite already: 'Financial analysts in pin-striped suits do not like being compared to bare-assed apes.'

But presumably Burton is getting paid to provide financial advice himself?

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  • Posts

    • Analysing stocks is really difficult.  I don't know how people did it in the old days (before computers).  It's hellishly difficult to get something that works half-reliably for all stocks. Edwards and Magee's book is insane - equivocates everything.  Causes more confusion than anything else.
    • thanks for the share, shame about the results though.
    • good points and sound advice for others to take note. with regards to the actual stop loss only testing will give the answer. yes getting the direction right is easier than timing the entry and setting the profit target, some markets lend themselves better to chart structure targets than a R ratio. In a trend and pullback the first target after entry has to be the prior swing high (up trend) which some call the 'first trouble area' and is often around 2 x the stop placed just behind the base of the pullback. If sellers are serious this is where they will strike a second time to force a reversal.
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