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Showing content with the highest reputation on 23/09/20 in all areas

  1. 1 point
    Agreed, Nothing in life is free (rather nothing in life is completely free) but few things are less expensive if we find the right alternatives.
  2. 1 point
    Personally, I'd be amazed if the true fatality rate was anywhere close to being that high. I have more fear of dying in a freak exploding teapot accident than popping my clogs to covid. Maybe the government needs to be a bit more stringent in its persuasion.
  3. 1 point
    LOL - My mental maths ain't great, but i drew the same conclusion watching the press conference yesterday Trouble is 98% of the population will do as 98% of traders do - just accept the rhetoric and sound bites
  4. 1 point
    Alrighty, time flied again. Here is how my testing phase worked out in August. 25 Trades placed. £1000 account at the start. It's been a bit of a slow month, but that's how August typically feels. I tested 4 reward-risk ratios: 2:1 (2 reward, 1 risk) 1:1 0.5:1 0.25:1 As you can see from the chart below, none of them were super profitable. 2:1 sucked the hardest, only 7 winners, 18 losers. 28% success rate. Break-Even would've been at 33%. 1:1 came out on top. It did have some nice profit during the month, but then couple of losers at the end made it come down quite significantly again. Success rate: 52% (Break-Even at 50%) 0.5:1 negative as well. Success rate: 60% (Break-even at 66%) 0.25:1 profitable and the most stable growth curve, although not the highest. Success Rate: 80% (Break-Even at 75%) So, not really exciting results overall. Profit target would've been at £500 and no reward:risk ratio was able to hit that, even temporarily. So I searched for further optimisations. I concentrated on a reward:risk ratio of 1:1 as that seemed to have worked the best. First of all I was looking at not adding to positions as I have done in the August test and see how that would've performed. Quite well. Apparently, my position adds were doing more harm than good. Without the adds, my success rate jumps from 52% to 64%. I was thinking, if I don't add to my position, I can also double my position sizing from the start. With these two optimisations, my profit would've come out at £335, already way closer to the £500 target. Secondly, I was thinking, what if I normalise my position sizing in a way, that I always make £200 loss/profit. Meaning, when I get to enter closer to the resistance, I can double down on my position size even further. While when I'm entering further away from the resistance, I'm scaling down position sizing. With that optimisation, risk-reward stays the same (same trades, just different position sizing), but profit jumps to £800 on the month. That's a juicy 80% and well above the 50% target. See the optimisations in the chart below. So, as a result, I'm currently testing the final optimisation on my Live account. Risk-Reward: 1-1 Not adding to positions, hence increased standard position size Normalised position sizing according to max loss/profit target (£200 on a £1000 account) Next update, once the month is over and I have the Live results.
  5. 1 point
    Hi I've been following this and just wondering how you are doing @DSchenk on the Spread betting as I have been doing this too, trying to day trade on the US markets. But finding the spreads very difficult to make much profit. So am considering moving to share dealing like @nit2wynit Can I ask if you are doing better at the share dealing @nit2wynit ? It would be great to have an update from both of you if possible. That seemed a nice little win on Novavax. Just trying to work out strategies and interesting to see other peoples styles. Thanks
  6. 1 point
    Dear team New user here and I have a quick question. I came across to your platform due to the competetive brokerage fees and I am happy enough so far. But I must say I'm surprsied to discover that the basic layout / functionality of all other trading websites I have used is missing. In particular, the ability to export your CURRENT positions as an excel file (CSV, etc). I'm not interested in exporting my trading history - I wish to export my CURRENT positions so I can do some analysis of my weightings etc. This is a core routine task performed by sophistocated and amateur investors, yet it is missing from your otherwise very sophistocated platform. Such a basic product feature but bizarrely missing? And while I am here it is worth suggesting that you should also copy your competitors and have additional (optional) tabs in the Positions screen - such as showing your positions in your domestic currency and also your individual P&L expressed as a % for each individual holding. Your help in relation to the Excel question most appreciated.
  7. 1 point
    haha. yeah the amount I spend on coffee!!! I should get a discount on the cfd's
  8. 1 point
    I thought i summarize my experience so far day trading in case any newer folks are interested Day trading is much harder than swing trading and especially at those lower time frames. From 100+ day trades so far I am certainly no expert and I like being honest, I am on average losing but I learnt a lot. My thoughts so far are: 1. Forget 95% of youtube, it's full of turds just trying to market courses, **** out their channel. Same with forums, no matter what topic it is (fitness, languages), a lot of people lie their asses off and pretend they are experts but in fact know jackshit about it. Even the supposedly guru's are full of sh@t. For example the guy who wrote that best seller "Trading for a living", Dr Elder. He came up with his own "impulse system" and brags about it. It just MACD and Moving average, nothing more . Aslo on their own private forum (which I was on for $60 a month) the group consistently underperform the S&P and even their best Gold start traders barely out perform it. Everytime you asked a question you got told, "buy this extra course for $100's Its the same with Anton Kreil, $15k for a course? I have no idea if he is good or not but its seems to me that it's the easiest thing in the world to prove your validity. Publish your trading accounts, get them audited by an auditor, show tax statements, do live streaming etc If I was building a business as a trainer that's what I would do. 2. Having said that there is a lot of useful information that if you look at it objectively it can be great advice. Keep a word document and write down your own points. Ignore every cherry picked chart they show you (apart from the educational content), use your own, scroll back a 500/1000 bars and then start looking at the extreme right hand bar, moving forwards bar by bar and ask yourself "ok what will I do here", you will soon find out that even if you got the direction right, spreads, commissions, trend reversed too quickly, stops etc killed it . It will paint a very different picture than what youtube baseball-wearing-cap-on-backwards hipster is telling you. 3. Day trading is a job, not a hobby and a difficult one, you need to put in the hours, research, do your homework, keep a trade journal take notes and analyze what you have done etc 4. You are essentially trying to make cash like flipping a coin over the long run with one side weighted in your favour. 5. Forget working on hunches or "I think the stock price will go up / down" You are doomed to failure. A proper system is the only way 6. Risk Management is the most important concept by far in my view. The generally advice is never risk more that 1 - 2% on a trade. I personally think that is too much . I would keep it at 0.5% max until you work what you are doing. 8 losing trades in a row at 1-2% and it starts to hurt and self doubt really creeps in. 7. Demo always seems like a good idea but in reality it never worked for me. I put on trades forget about them, have no psychological connection to wins / losses. You need to use real money, even if it's just the bare minimum to see those losing ££ . I have put on 4 trades over last few days.All 4 were up 2 x Risk but because I am a total **** I didn't cash out and all hit stops resulting in 4 losses. It was only £80 between all 4 but the fact I got greedy (yet again!) annoys me 8. If your profitable with a year you're lucky. My aim is to just break even by christmas to see if I can sustain a modest living in this. I have income from other sources anyway. 9. The reality is that its a heck of a difficult job to make money day trading., Brokers like IG, and all the others make money by continual flow of clients coming in losing cash and eventually leave, hence the large marketing. I don't blame them, it's a business model, not a hippy self help group, but just be realistic. 10. Most news, ideas is **** and pointless. I worked in investment banking on the trading floor for 15+ years. Every Monday we had to come up with a trade idea for clients , Derivatives / inflation, bonds, 90% of them were sh@t, I know I wrote them, we just had to do something. It's the same with market news, broker webinars etc, trading channels / ideas etc, the staff are tasked to do something. More noise, more videos, more website hits, more trades = more commissions / sales. 11. Don't jump around from stock to stock, to FX, to crypto. I believe if you are not making money in two or three the problem is you, not the asset. They all have their own personalities, e.g. Coca cola barely moves, Tech stocks jittery as hell, respond to news, others hardly at all, so you need to spend sufficient time on see what influences what. 12. as above, don’t jump around with different trading strategies, 200 different indicators etc. You need to limit all the moving parts and focus 13. Best way I found to improve, (so far) , For every trade, I immediately write down why I entered the trade (note 5) , for example Long MA Strategy (a) Rising 200MA (b) Rising 20MA , (c) 20MA crosses over 200MA (d) price near 20MA seems like a winner on paper but I still kept getting stopped out. Then afterwards write down what happened, e.g. after the trade exit I put screen shots of 3 time frames (daily hourly / 15min) into a PowerPoint and detailed where I went wrong. Several things became clear such as - 2min charts was pointless, you would never make the spread back - The risk / reward (1:2) was to high, a 1:1.2 would have paid off > 50% of the time . - I was fannying around with stops, for no reason. etc - I'm putting on trades because I'm retarded, e.g. long trade, on a bearish trend in larger time frame The point being, you start to learn about your technique and they way you trade which no book can possibly know. Heck it's boring but I am starting to see patterns about the way I trade (= c@ck up). The best traders I saw in banks were the OCD ones. The wannabe Burberry wearing chavs all got pushed out or sent to Starbucks to pick up the coffee The million dollar question: can you make money? At this stage, I am still undecided. I think there is light at the end of the tunnel but its going to require work, a plan and mental commitment for sure. Anyway, long post but hope it's useful for some folks (apologies for the obscenities!)
  9. 1 point
    I generally have a rule of thumb of a stop of 1 bollinger band with should in theory (well based of previous moves) cover 66% of [price moves for that time frame [BB just seems to be a 1 normal standard deviation of a specific window length], but then started to look at other 'accepted' trading strategies. For example as you mention, if your very confident with your trade perhaps a tight stop is advisable so you get several tried at it.It seems like a lot of people advocate it. On the other hand , the usual price volatility can knock you out quickly. I never considered automated trading bots, that's quite interesting! Thanks! I find that since I started keeping detailed records , the mist is starting to SLOWLY clear. I guess many further down the line don't need this headache and have a natural feel for the markets. For me it's still a struggle to see where the bulk of the problem lies, the strategy the stops, or the market. and so on I think what I might do is have 5 go to assets and just work with them. Gold seems to be a good one for me as when it starts to rise a moving a MA with retracement is a high probability strategy . I tried the same thing with banking stocks and it was unsuccessful, it could be the market conditions , no idea My aim is to just limit the sheer amount of moving parts to a trade and focus on my hit rate for now. As I say I have no expectation of making money this year yes this was a big issue for me initially but since I reduce the risk drastically, it much of a problem now Another related point I didn't mention above is : you learn alot about yourself doing this game. For me the actual cash is not the primary driver, I never have been materialistic and If I could make modest returns in the long run I'd be happy. The real driver is being good at something as I can be pretty OCD on things. Whether that's a benefit or a hindrance I am not sure! Time will tell.
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