Small Account Challenge aka Warrior Trading Strategy

[DSchenk]

@CharlotteIG Can you elaborate if IG is using any set criteria to restrict clients entering either short or long and short positions in certain tickers? Or is this a manually placed restriction set by the trading desk?

[nit2wynit]

I've been hoping my Pinterest shares will return to $24......but they keep dropping.  This will be my Starting Capital going Live.  Disappointing result.  Another Kidney to sell then.

[nit2wynit]

PG&E Now,,,,,,,,,,


Boom.  Another £52, but it was up to £90, pulled back.  

Edited December 4, 2019 by nit2wynit

[nit2wynit]

Booooom.  Day 1.  Nailed it.  lol @dmedin @DSchenk  Come on Team WT

 

Total £716

 

 

 

 

 

 

Edited December 4, 2019 by nit2wynit

[DSchenk]

Nice one, trading these hours, lol. Market must be closing in about 6 minutes

[nit2wynit]

4 minutes ago, DSchenk said:

Nice one, trading these hours, lol. Market must be closing in about 6 minutes

I just had a quick look before putting my PS4 on :D.  it's Still Going down...Just made another 10p lololol  Moved my Stop and it reversed.  Market close in 1 minute.  done now.

**** Ace.

[nit2wynit]

I'm beating Ross by a mile lol.

[DSchenk]

1 minute ago, nit2wynit said:

I'm beating Ross by a mile lol.

Keep going mate - who's at 1mil first - this is here the question  

Also we need to switch to live first  

[nit2wynit]

Just now, DSchenk said:

Keep going mate - who's at 1mil first - this is here the question  

Also we need to switch to live first  

If I hit 5k, i'll go live with 20k

[dmedin]

I can beat you all and lose 20k in five minutes.  Oh, you mean make money?  OH well.

[CharlotteIG]

12 hours ago, DSchenk said:

@CharlotteIG Can you elaborate if IG is using any set criteria to restrict clients entering either short or long and short positions in certain tickers? Or is this a manually placed restriction set by the trading desk?

@DSchenk, What is it's you're referring to, when stocks are unborrowable (meaning you can't take out short positions). If that's the case our desk set those restrictions due to us being at our maximum limit of short positions because we're unable to get any more borrow in the market. 

If you're asking about going long and short in a market, you can but both ways have to be tradable and you're not allowed a guaranteed stop on both sides. 

Not sure if I understood the question correctly so if you let me know if you meant something different. 

[nit2wynit]

3 hours ago, CharlotteIG said:

@DSchenk, What is it's you're referring to, when stocks are unborrowable (meaning you can't take out short positions). If that's the case our desk set those restrictions due to us being at our maximum limit of short positions because we're unable to get any more borrow in the market. 

If you're asking about going long and short in a market, you can but both ways have to be tradable and you're not allowed a guaranteed stop on both sides. 

Not sure if I understood the question correctly so if you let me know if you meant something different. 

I'm pretty sure he's referring to the limit of Shares available to Trade at all, with regard to our strategy aim in this thread.  As I myself pointed out yesterday, around 10 of the highlighted Stocks picked up by my Scanner weren't available to Trade in any capacity with IG.

It almost seems to be that IG has intentionally Limited our chances of a Win with Small Cap/Low Cost Lucrative Breakouts.  While I appreciate that IG is not a Charity, it would be polite to know if this is indeed the reason why Volatile Breakout Stocks of Low Value have been omitted from 'The Game'.  Maybe it should be stated in the T&C's

''We at IG do Not Support Intra Day/Day Trading/Scalping of Small Cap, Low Cost stock as it would not be cost effective to ourselves''...something like that.


76% of retail punters lose...........I can only assume it's because of several reasons:

Lack of Stock to Trade, creates frustration which creates impatience and desperation.  They literally become Gamblers here.  Naivety, Ignorance and sheer stooopidity also add in.

I have ticked all of the above so far. 

[DSchenk]

@CharlotteIG Exactly as @nit2wynit says

Scanner today

IG has all those tickers on the platform, but

• AKER can't be traded at all (long or short)
• BNGO can't be traded at all (long or short)
• DLTH can only be traded long (going short is not possible)
• SEAC can't be traded at all (long or short)
• EXPR can only be traded long (going short is not possible)
• ...

Is there a system behind why some of those are long & short restricted and some of those are short restricted?
Short restrictions make more sense to me, if you can't borrow you can't borrow, that's fine.
But long restrictions don't make much sense to me, other than IG wants to protect their capital.

[DSchenk]

Anyway, game-plan for today (Note: Last, Volume and %Chg is yesterday's data)

[nit2wynit]

I need to know how to set up the Momo scanner!

 

[nit2wynit]

DULUTH OH DULUTH. It started so well.  Up £75.  Doubled up.  Lost it, lost is hahah.  and this is why we don't go Live till these impulse clicks are under control.  

 

Up £75, Down £175.  I was ready to quit at +£75.  total would have been £798.  Tut tut.  I haven't had a string of losses like that for a while.  Brought back old memories.


Finishing with Aurinia Pharma.  see where that takes me.  Maximum Risk now would take me back to £500.

I should quit, but teaching myself yet another lesson not learned.

 

 

Boooo.

[nit2wynit]

I'm risking my entire profit from yesterday on Aurina.  I'm anticipating a drop, a massive drop. 

 

My Stop is just above Market Open with a £143 loss. 

 

Here's hoping. 😮

[nit2wynit]

Aurina want to bury me.  Coffin is ready pmsl.....

 

[DSchenk]

I'm done for today

Been a lousy trading session

After about 10mins I could've locked in my £200 daily profit goal. Failed to do so.

Now ending the day down £190.

That's what I was trading

Good start, capturing the move from 900 up to 1100.

Then got burned on what I thought would be a reversal.

Then at the actual reversal I placed a couple of trades, but somehow got stopped out all the time, where this should've been some easy profits from 950 til 1050. Weird one.

Let's see what tomorrow brings - currently down £98 on the week, should still be possible to finish the week green

[nit2wynit]

Ah what a shame pal.  Same as me.  when I was up £75, that was it.  getting out.  FOMO once again.  Then when I gave back £75, I SHOULD HAVE QUIT.  This isn't Hindsight though, I knew this at the time.  We can't afford to lose ANY money at this stage.  I've allowed my account to potentially FAIL now.  I was up £300.  But the drop could be coming for Aurinia.  Don't take my word for it though lol.

Edited December 5, 2019 by nit2wynit

[DSchenk]

1 hour ago, nit2wynit said:

But the drop could be coming for Aurinia

Still not dropping, wa?  

Tomorrow will be better - we just need to overcome emotions. Tricky bit

[nit2wynit]

5 minutes ago, DSchenk said:

Still not dropping, wa?  

Tomorrow will be better - we just need to overcome emotions. Tricky bit

It's going hahah......maybe

Nah, I had my emotions in check, i just didn't stick to it coz it's The Demo!.  This is the bit i need to be rigid on, but it's hard because I'm not learning if I'm not placing Trades!  Bit of a double edged sword for me.  In my head, i know i got out at +£75. 

[DSchenk]

Ross made 74 bucks today. Maybe we should lower our expectations a little. Shoot for £50 profit target instead of £100 with £500 funds.
If my profit target today would've been £100 (£1000 account size), I could've stopped after my first trade and walk away.

https://youtu.be/mrpFiHkWENo

 

[nit2wynit]

36 minutes ago, DSchenk said:

Ross made 74 bucks today. Maybe we should lower our expectations a little. Shoot for £50 profit target instead of £100 with £500 funds.
If my profit target today would've been £100 (£1000 account size), I could've stopped after my first trade and walk away.

https://youtu.be/mrpFiHkWENo

 

.....But my target IS £50....10% of my Capital! 😮  1:1 PL

I risk £25 for £25, but if I reach £50 I'm good.  That's why I'm disappointed not quitting with +£75.  Let's PM about our actually strategy here.

I started Yesterday with £500.  I made £216.  I started today with £716 and made +£75.  At this point I had £791 in my account.  I doubled up instead of doubling down.  Lost £80, then lost £100 in a twist.    I've made some trades small trades here and there but about 16 in total.  Playing like a total **** bag.

Long story short.  My balance is £664.50.   I'm still up £164 on my £500 in 2 days.  I can live with that.  Lessons learned....maybe ha

Edited December 5, 2019 by nit2wynit

[Caseynotes]

On 04/12/2019 at 13:18, DSchenk said:

Btw, Ross did yesterday make his money on DRIO, the leading gapper. We can't trade this on IG, is this all a **** **** crappy conspiracy against us, IG????

If I remember correctly on IG US stocks need a min market cap of $250M to be included on the leveraged platform, if a stock falls below that then new trades are  disallowed but it stays on the platform until all those with running trades exit. Other reasons not to take bets may be that IG has reached it's risk/hedge limit on a stock.

Worth repeating that a broker is not there just to automatically take the other side of your trade, that's a bookie. A broker matches buyers and sellers.

Edited December 6, 2019 by Caseynotes

[DSchenk]

6 hours ago, Caseynotes said:

If I remember correctly on IG US stocks need a min market cap of $250M to be included on the leveraged platform

@CharlotteIG That would be fabulous to have confirmed from official side. If this is the rule, at least we can plan with it

[Caseynotes]

6 minutes ago, DSchenk said:

@CharlotteIG That would be fabulous to have confirmed from official side. If this is the rule, at least we can plan with it

Found it on a quick search;

[DSchenk]

ok nice one @Caseynotes

quickly checked today's scanner and seems to match

SAVA, BHAT, CRIS not tradeable, cause market cap too low

@CharlotteIG How can we put a request in with IG to lower that threshold to maybe $50m?  That would help us a lot 

[DSchenk]

Also found one where the maths don't end up

LXRX - market cap $449m > $250m - but still not tradeable

[DSchenk]

Not the most exciting watchlist today

Goal: £100 (would also make me break-even on the week)