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Showing content with the highest reputation since 17/12/19 in all areas

  1. 2 points
    Look out everybody,,,I just bought cable...God loves a trier ...or so they say .... I think it is A to $1.32 off $1.29 and we ve just completed C of B ,,,filing London gap left over from New years day at $1.2950. C will take us back up to $1.32 or so before a plunge lower.....So I m a bear who is willing to hold £ just to sell later....
  2. 2 points
    the question is though when a market is trending up why is everyone so keen to get short? It's some sort of mental derangement. This from the SSI thread where I was making this same point a while back. Price goes up and so retail goes short, price goes down so retail go long, price goes back up again and short they go. What is this strategy called? The 'empty your account in the fastest possible way' strategy. 🥳
  3. 2 points
    here are the daily pivots on the H1 Dax and Dow charts;
  4. 2 points
    US Indices creeping back up to the highs, Bonds, Oil and Gold down. EU CPI and retail sales at 10am. US ISM services PMI at 3pm 54.5 expected up from 53.9 previous.
  5. 2 points
    How are you folks seeing cable ??? My thoughts are that the 1.1950 was the end of a correction....It actually was 123.8% extension from 1.32 which was an ABC....Hence we are looking for 5 waves off that 1.1980 low.....Have we had it ? In the post G E bounce up to $1.35 ???? So is it all down hill post Brexit into parity ????? I was a cable trader inter bank...and showing my age i actually traded the low at $1.0280....In those days the 'Russian' as we called him....(USSR central bank) was selling the **** out of the £.....Chemical Bank of new York was organising a 'Parity' party in their dealing room......It never happend.....Chemical Bank is also no longer,,,,nor is there the 'Russian' !!
  6. 2 points
    Into the mix you need to also chuck in the liquidity providers who supply IG with contracts/prices in and out of hours, so in order to keep IG's market flowing they are plucking prices from a large number of different sources with prices based on the underlying or futures or what is available from an assortment of liquidity providers. see 'How we source the best prices'; https://www.ig.com/uk/pricing-execution
  7. 2 points
    Palladium the winner . Here's an update of my chart from the PALLADIUM thread
  8. 2 points
    Good chance gold is rising because it's being bought up as a hedge for the increase in positioning of institutional traders in US equities (see repeated chart below from a previous post above) Also, people are talking about USD scarcity (in spite of printing) in the face of up coming emerging markets debt maturity which will need to be serviced in USD.
  9. 2 points
    @dmedin Sigh!!!!!!! you keep using this statistic to back up the negativity you now have in your bones. You've been at this longer than me, but I know how you trade, and know how wrong it is. Here's your statistic in a nutshell: 10 people in a room with IG, just started trading. Never done it before. Think it's easy. Done very little by way of research or Live Trading. Green as Grass. This is 10 people!! Now, take your losing statistic of 76%-90% or whatever it is. That's 7-9 people who have No Clue how this works, and can't figure out why they keep losing. But 2-3 people out of 10, have actually studied; have learned; know what they're doing and how the cogs turn. If i went out into the street now and told 9 people about Spread betting, I would be the Top 10% of people who had a clue where the other 9 people would be dumb to the idea. Here's an insight on people and life for you. Most people are dumb. Most of us don't know all that is needed to achieve success. Most people are cattle. Now simply apply this Cultural Societal Life Statistic to Spread Betting. The figures match. If you don't know how to do something, you will fail. If you don't know why you're failing, you will continue to Fail! That is the secret to success. You don't have enough to play a long game! You don't have enough insight even at some of the Candle patterns and colours, based upon the Q's you've brought up here. @DSchenk has put you right a few times now with little to no acknowledgement from yourself when he's answered. Daniel has even shown you why he's failed. To be able to know why, provides the solution to success also. With a few tweaks and a fresh look at what he was doing he has already improved his success rate and just as important, hit Loss rate. @DSchenk Daniel, we're not here to fight the cause for trading breakouts. There's enough time and energy needed to keep it going as it is. Try not to allow yourself to become distracted by negativity. We shouldn't be here to convince anyone of anything. I've been talking about trading breakouts since I joined back in March.....Seems it's quite Alien to a lot of people. Your chart postings and honest feedback are refreshing and insightful; keep it up. This year will be our year.
  10. 2 points
    @strawberryscarlet, Following the tape means following the price action. @sunshinestate, I think shorting an asset when it is trending upwards and there are no clear signals or indicators that point to a 'short' trade is very high risk and will increase the odds and probability of making a loss on that trade.
  11. 1 point
    Great piece on RealVision today with an economist called David Rosenberg, who has recently started up his own firm (aged 59). One thing he states, which is a belief I hold, is that economists who wok for large firms cannot go out on a limb as this is a career threat so they hug the consensus. In other words the consensus is self-fulfilling and therefore will also hug the trend and never spot the major turns. For that you need something else...
  12. 1 point
    @dmedin, Another Carbon Emissions related thread if you are interested. The Natural Gas short trade has been a profitable one for those who have partaken.
  13. 1 point
    Dow and S&P make new highs, Dax still trying to escape key resistance and Ftse though remains in touch with key resistance lacking drive.
  14. 1 point
    If and only If it can hold the first wave up to 13250, It looks more like a bear flag to me...But it may just be a series of ABC X corrections....It needs to break the tops line now formed to confirm that indeed its going to push higher....If it fails...Then down we go,.....
  15. 1 point
    If accessing from the Academy section there should be a clock confirming current local time with the webinar times referenced to that, see pic below.
  16. 1 point
    We have our news and analysis preview on earning. This includes a video as well as a breakdown of the expected earnings for each bank. US earnings preview: Citigroup, Goldman Sachs, JPMorgan, and more
  17. 1 point
  18. 1 point
  19. 1 point
    ALL RIGHT. I'll get my nose back to the grind stone and work on a plan
  20. 1 point
    Yield curve signalling lower recession risk;
  21. 1 point
    No one (or institution) has the power to stop the crash once it takes hold. Corruption, or just plain old vanilla manipulation out of good intentions, will eventually implode. The case the Bears put forward is that the more effort that goes into juicing the markets the harder the crash will be. It isn't the first time this has happened and those that believe this time is different will be just as wrong as the people who said that before. Of course timing is everything but you don't have to trade the top, just recognise when it has come in and change your directional bias. What I am saying is that if Boeing breaks lower then the trend has changed. I don't know how far down it will go, the arrow is (or course) directional not quantitative...
  22. 1 point
    sometime you see some early movement on a nfp day but always quietens down as the hour approaches.
  23. 1 point
    no, you build a system then you test it to prove it works or not. forget your TA. TA has nothing to do with it. people believe that a system needs to be complicated and catch every move and ride that move to the max. nothing could be further from the truth. a simple breakout past the recent high in an uptrending market could be enough. what would you need? a trend indicator, price action on a chart, a bracket order for entry and a 2x stop loss target. Here is what such a system could look like on a chart. Would that system be profitable (I don't know) so test it. if it doesn't work modify or discard and start again, if it does work then do it, a system with proven expectancy is exactly what you are searching for, that's it, start on small size and keep increasing.
  24. 1 point
    Nice beat on the ISM US non-manu PMI 55 at 3pm giving the Dow a boost up on a check of the daily pivot after a lame day so far. M15 chart;
  25. 1 point
    yes occasionally they are on the right side but having watched these stats for many years the most common story is that retail traders go long as price falls and go short as price rises. This phenomena is more easily seen on the period charts and is easily missed using just the snap shots. The research is thorough and well documented on the site and has formed the basis for developing Retail client sentiment data into a contrarian indicator for FXCM and DailyFX and must be well over 10 years old by now.
  26. 1 point
    Ok guys, back in the driver's seat. Happy new year everyone! Demo account charged back up to £500. Here we go. New year, new challenge. Updating the rules a bit: Starting capital: £500 Trading US open exclusively, that's 14.30 to about 15.30 UK time (At 16.00 I wanna be in the Gym, which is a good motivator to not trade longer than that ) Strategy Focus on stocks which are between $0.1 and $20 Scan for gappers pre-market (Gap > 5%) Scan for momentum during market (Momentum stocks are stocks which are up more than 10% on the day) Max risk per day: 20% of account size (£100 initially) Max risk per trade: 33% of daily risk (£33 initially) Daily Target: 10% (£50 initially) Winning trades % aim is 80% (4 out of 5 trades are winners) The challenge is successful if the account size at the end of the month is above £1000. The challenge is also successful if the account size is between £500 and £1000, but the winning trades % is above 80%. (That shows the strategy works, just the £ gain is not as high as expected.) If the challenge is successful, I'm going back to live. Not going to post super detailed trade reviews, but will update here and then on how it goes. Hope to find someone who's joining in as well.
  27. 1 point
    Sorry folks...Meant $293 ...of course......haha
  28. 1 point
    Buy the dips, Tabitha 😻
  29. 1 point
    not only not selling but that's what you call 'buying the dip' 🥳🥳🥳
  30. 1 point
    If the pullback has begun, then about 74% to 78% of traders (as of now) are finally on the correct side of the trade.
  31. 1 point
    Never-ending Bulls, no return to "Tory" boom and bust! Meanwhile back in the real world Gold has just broken out through the resistance offered by the previous high confirming for me that the retrace was a consolidation (possible a pennant form) in a longer term bull phase. Silver is much further behind but will most likely catch up and overtake in due course. A breakout with a Gap is the strongest form, still we have to watch out for a short term bearish retrace to close the gap and retest the breakout zone before the next part of this long term rally phase gets going. Buy the dips on Gold and Silver. Doesn't augur well for either USD or Stocks IMO and with Oil rallying as projected the pressure on profits will only increase. Possible commodities reflation trade is on. Long Gold/Silver; Short USD; Long Oil (I am not but that is the trade); Short stocks if the break lower is confirmed.
  32. 1 point
    Let me chime in and add more pepper to this discussion. I'm consistently profitable (on a weekly basis) and I have some incredible wins. I use a very 'bold' system that breaks every single risk management rule out there. I use guaranteed stops to gain insane leverage in specific times I deem right. I keep my accounts small because of constant blow ups. Here's is what I did in a few hours on Friday using guaranteed stops on an account that had about $1,200 in it: I’m not stating this to show off (well maybe a little). Took many hard years to get to this level, and its still not even a little easy. There are many ways play this game, don't let the gurus and trade books shackle your imagination. My mentor was a bold pit trader who told me about a saying crude traders have: You can be a bold trader or an old trader (meaning you can grow old trading and making bits every day, or you can be bold and retire early). I spend little time in forums because I don't like them, but I'm constantly on twitter and discord. So yes, profitable traders do use forums and social media on a regular basis. I'd say probably more so than most, but they have their circle of traders.
  33. 1 point
    Hi, there are certainly traders on here who are clearly full time and have been posting on the forum for years. Finding consistency, there's the thing, especially with constantly changing market cycles and can take years. With regards finding a trading system your best bet is to build your own that suites your situation and personality. You have already seen the 'Trade Planning and Testing' thread so start at the beginning and it should help you decide what you want to do and show how to set about building a system that is right for you.
  34. 1 point
    Useful and fairly extensive guide to trading breakouts, looks at different breakout set-ups and the do's and don'ts, includes several videos. First published Dec 2018. https://www.tradingwithrayner.com/breakout-trading-guide/
  35. 1 point
    I wouldn't be in a rush to short that, you can see why it's been held up from continuing higher but the bulls may just be just catching breath and gathering for another push up.
  36. 1 point
    I am awaiting short term retrace moves on Gold/Silver maybe copper and Oil. I see something similar on Coffee right now. Since I caught the top and turn (on the second opportunity at least) I have been tracking the whole move as a potential 1-2 bearish retrace. With the turn yesterday at around the Fib 62% and fast drop away I am reasonably confident of marking this up as a wave B completion and into a wave C. There are several candidates for this to terminate, price action and indicators will be key to spotting the turn but when it does turn the next phase would be a very strong wave 3 rally with many 1,000s of points potential. For now I am short tactically and happy to wait for a few 1000s points to cash and leverage back into long term Long positions. With so many markets potentially waking up: commodities, USD, possible stocks (???) it could be a very busy first quarter of 2020...
  37. 1 point
    Tesla is the 'front runner' in electric cars when it comes to the retail market. Just travel to Los Angeles and you will see how many people are now driving Tesla's. The Tesla 3 is a game changer for them as it makes the car more affordable to the mass market. Also with attractive lease and PCP deals it means more people have the potential of getting into a Tesla 3. If you observe around the UK then you will the how Tesla has the most effective and efficient 'infrastructure' when it comes to charging points against its competitors. Again in Europe, Tesla, has done something similar. With home charging now becoming a reality for people who own electric cars and the end of diesel and petrol in years to come being confirmed by governments it means electric cars are a reality and Tesla leads the way as it leverages its first mover advantage. I think longer term the Tesla price could rise so there is a compelling investment opportunity but from a trading perspective it could be more difficult especially if we were to see a major sell off in US shares in 2020. This could domino into the Tesla shares declining. I think a longer term 'dollar cost averaging' or 'pound cost averaging' method of acquiring the shares is the way to play Tesla for the longer term.
  38. 1 point
    Absolutely every year-end, without fail, you find some clown writing this type of scare story. Journos gotta write something I suppose.
  39. 1 point
    So it turns out silver did bounce off the pivot and move higher, looking like it is due a pullback based on the RSI but keep riding - next stop R2
  40. 1 point
    Do you know about TLS strategy? I've only been on FX for two weeks, but I'm getting good profits this way. Trend / Level / Signal You can check this image. I will tell you about more information this strategy. Hope you guys get some help this way. LOL
  41. 1 point
  42. 1 point
    I think a book dedicated to showing how cr@p TA in general is, from the perspective of someone who has done it, would generate some interest. But it's far easier to make money from just selling people 'number one strategies' and 'winning formulas' instead. Just put some videos up on Youtube and you'll draw in all the credulous punters. You can cherry-pick chart patterns with the benefit of hindsight and say 'Look, if you'd done this at that point you'd have been rich by now!'
  43. 1 point
    I'll try and keep you up to date. With the US we have US Fed's Evans speech today at 17:40 GMT. Tomorrow the USD Initial Jobless Claims (Dec 13) is announced 13:30 GMT, prev 224K.
  44. 1 point
    VWAP with user defined number of periods. This is the Dax on a 15m chart with 48 periods. I got it from here. https://www.perfecttrendsystem.com/blog_mt4/en/vwap-indicator
  45. 0 points
    Dow 30 in my view
  46. 0 points
    With Spread betting forward contracts we recycle the epic used for spreadbet, whereas for cfd it's a new epic every contract which is why this happens. This is why you see historical data on spread betting (shows previous contracts) but with CFD you don't.
  47. 0 points
    Will we ever get PRT 11? Should I just return this potentially amazing gadget? PS> This is the streamdeck https://www.prorealtime.com/en/streamdeck
  48. 0 points
    Trading Floor Audio @TradeFloorAudio 1m Iran 'may have shot down Boeing 737 plane with 176 on board in error' ... EVE STANDARD An airliner which crashed in flames minutes after taking off from Tehran killing all 176 people on board may have been hit by a missile, it has emerged.
  49. 0 points
    Iran's Foreign Minister Mohammed Javad Zarif tweeted that Iran was finished fighting and was not actively pursuing any kind of escalation to the conflict. Markets look to be in recovery mode after Iran's missile attack. US response seems they are not surprised by Iran and may also be looking to settle the recent escalation.
  50. 0 points
    my signals started failing at 9:30, keep doing it til it stops working then stop, sit and wait for a new move 😐