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  1. 3 points
    @Bell, yes it would be nice if the phases were evenly spaced as in the diagrams but that's not real life of course. A strong break out with volume indicating the opposition have been cleared as you say is favourite, I've got one with volume I'll add it below. The retest or at least an attempt to retest will come and when that pullback fails is as sure a trade as you'll find, those attempts at breakouts while in consolidation though can get messy and often snare and trap the unwary.
  2. 3 points
    @nit2wynit, here's a test you can do, open up the demo on one browser page then open up the live platform on another browser page. Set them both upside by side on ftse 1 second charts and watch; they move identically. But more importantly see how fast price changes and how frequent the gaps are, this is what you are trying to trade. Going back to the other thread where you posted the day's demo trade history. Just looking at the ftse trades you are using large size to make just a couple of points, that would be hard enough using a price ladder or a tick chart but if you are using a candle chart ... well, just look at the top picture again. Yes it's a lot easier on demo because size doesn't matter, but it does on a live chart, you are constantly aware that a fast 3 tick move against you on top of the spread puts you seriously offside in the space of a slit second, that makes you jumpy, no wonder you made yourself sick. You say you dropped down in size after losses but it was too late by then, once the confidence has been wreaked you need to stop and look back at the plan. Starting off on the live platform with large size with a strategy that needs very quick reactions just causes anxiety driven decisions and they don't tend to work out to well.
  3. 3 points
    I have found that if there's going to be a short squeeze, Tuesday is the most likely of days for it to happen. They're not called "Turnaround Tuesdays" for nothing
  4. 3 points
    Interesting reading, interesting thoughts, Trend and Casey interesting banter. Great work @TrendFollower on keeping your word and staying clear of @Caseynotes who seems to love to Troll you. I been in this group for a couple of weeks and already worked out Casey was hot air blowing about every post before i read this post, but nice to see my thoughts were correct. I was hoping to find like minded people who worked together in this group and would be happy to share ideas and stories both good and bad so others may learn and every body gains a benefit . The constant pointing to information from Casey seems to prove they have a lot of Bookmarked sites but maybe they dont understand the information? @dmedin I found i could make so much more profit in a Demo account than Live trading due to the Demo always letting you buy the trade at the Price on screen, compared to slippage in the Live market, the spread points on buying and selling seem less forgiving in the Demo than Live trading, on that fact alone my proven demo strategy's when i 1st started out have fallen over not allowing for the points difference and costing me in the long run. So i dont agree on that its rigged, its a false sense of security maybe as it plays a little nicer than the real market. I know i tended to play the demo far more risky as it wasnt real money, it wasnt my money, so the emotional thoughts arent as strong and you can be far more flippant in the Demo, making you feel more empowered before the Live system eats u up and spits u out.
  5. 3 points
    I read a quote a while back that said something like ”no ones story of becoming successful started with them sitting down to read a book on how to become successful” in my opinion all these self help books and systems and starategies are more or less **** and only there to sell (or in this day and age subscribe to to get views for ad revenue etc) to those who as in a desperate quick fix bid to get rich or be better. I get this may be an unpopular opinion but maybe hear me out. You can only learn by doing. Start small. Learn the game. Only use guaranteed stops when trading leverage and yes, you’ll need more to deposit in some instances but you’re trading at 20:1 ffs. Even the banks and the worlds most successful full time traders don’t usually leverage themselves up that much. Trading is hard enough. Trading using a complex product likespreadbettingor CFDs is another level. Learn the ins and outs because I assure you there will always be moreto know. You do not learn on a demo account! People think they’re using it to perfect their system but it’s absolutely USELESS. The demo accountshould be for testing functionality NOT strategy. It takes away all forms of psychological impact. Seriously don’t use demo to test strategy. Use fractions of a trade size but it MUST be on live. Understand you’ll maybe lose £x but keep that figure as the cost of learning. You’re using gauramteed stops too right so there’s a limited downside. Succes only comes from failure, evaluation and reflection, and a new attempt. Why did the trade lose? Were you following the technicals and the fundamentals kicked it into touch but you moved your lines about to fit your original convictions? You need to monitor these things.
  6. 3 points
    Here's a couple of great ones recently, the good old triangle. I traded some of these signals. You can set a position to go short when it drops beneath the lower line and have a stop just above in case it's a 'fake'. If you're really clever you can trade the bounce back up too, and then the drop back down again.
  7. 3 points
    @dmedin, In all of the humour added by @Caseynotes there is a very important point. A point that must be understood. First of all, spread betting is merely a vehicle to use to get to a destination. There are other vehicles available and it is your personal choice which vehicle you choose. For example if I want to invest in a company for the long term then I use a different broker to IG. If I want to trade a trend either 'long' or 'short' then I use IG's Spread Betting account. Why do I use Spread Betting? Well the two main reasons are the use of leverage and the other is that profits are free from Capital Gains Tax making it a tax efficient way of trading. Now the two reasons I have highlighted are totally irrelevant if you are either a bad trader or a good trader using a bad trading strategy when using Spread Betting. I will try and identify strong trends to trade using Spread Betting. Trading with the trend is crucial on Spread Betting. The stronger the trend the better. So it is not just about spotting a trend. 'Trend Strength', 'Momentum' and other indicators have to align to try and give you the best chance of a profitable trade. The amount of traders I have come across on just this IG Community alone that do not have the following is staggering: Trading Plan Trading Strategy Trading System Now without the above the odds are going to be against you and the probability of success diminishes. Also it is not just above having the three points above but they must be effective and efficient in trading the markets. Spread Betting is not gambling. It is merely a trading platform. Gambling is using trade capital to trade without an effective trading plan, without an effective trading strategy and without an effective trading system. It is the individual that gambles not IG's Spread Betting platform. An ineffective trader could invest thousands of pounds on a share in the hope that it recovers or goes up. If the share price continues falling and that trader loses thousands of pounds then it is the trader who is the gambler and it does not matter if they used a traditional share broker, invested via an ETF, bought a mutual fund or traded using a CFD or Spread Betting account. It is the actions of the trader that is the issue and at fault. Once you have a defined trading plan, a clear trading strategy which can be executed and a trading system capable of delivering the objectives of the trading plan then you will decide which platform or structure to use for your trading / investing. So the platform that you use will be dependant on your trading plan, trading strategy and trading system. Now guess what? If you have no trading plan, trading strategy and trading system then how can you pick the most effective trading platform to use? How can you come to the decision that a Spread Betting account is better than a traditional Share Broking account? How can you determine that CFD is better than a Spread Betting account? @Caseynotes, put the point across in a lovely humorous way and I have tried to put the point across in a more serious way and hopefully both will resonate with most types of readers here on IG Community.
  8. 2 points
    @dmedin, I mainly use 'daily' charts for trading and will refer to 'weekly' and 'monthly' charts and also '4 Hour' and lower but my main focus is 'daily' charts. As you know I trade based on the direction of the trend based on a 'daily' chart. My positions can be days, weeks or months. I do not set targets in terms of how long to keep a position open or any profit targets. There is this notion that one must day trade or trade regularly using Spread Betting and that is simply not true. There is no reason why you cannot make more profits per month or per annum by simply holding your position and letting your winners run than entering and exiting trades as the more you trade the more the chances increase for you experiences losing trades. Don't get me wrong, I make losses all the time. My aim is to ensure I keep my losses to a minimum and I let my winners run and not to exit them too early. By taking profits too early you will miss the big move, the big trend, the big trade. I keep on repeating this but it is all about 'odds and probability'. If you trade in the direction of the trend and not against and try and identify the strongest trending assets and trade those then it tilts the odds in your favour and increases your probability of successful and profitable trades. Now whether you use a share broker account, CFD's, Spread Betting, Futures Account or whatever does not really matter. You must trade in a manner which puts the odds and probability in your favour. That is key. Once that is understood you will realise that having a trading system which can deliver a trading strategy based around this will help you on this journey. Also you must embrace and accept losses and try not to overtrade. Just trade the best opportunities. Just trade the strongest trending opportunities and trade in the direction of the trend. You will see it will make a massive difference to your profits at the end of the year. If you get a trade wrong as it goes against you then use a stop loss and exit quickly. Forget about it and move on.
  9. 2 points
    I am really not been funny here but we need to stop with the token spam. Not sure if anyone else is in agreement?
  10. 2 points
    Spidey-sense seems to be working. Silver has put in a decent Bearish drop, Gold also but less impressive. However now we are getting a potential reversal into a rally. There is PMD; and credible 1-5 wave pattern down to the turn (probably wave A) followed by a small 1-2 and rally. There is an unclosed gap around about a retest of the previous channel breakout zone. I am expecting a strong rally in wave B (opposite to that I see on stocks!) before another bearish move to finish off the retrace. Gold should do something similar.
  11. 2 points
    Coining it? Dull it aint. Bitcoin that is. 10% swings, often in a day. Pumping up the price and deflating it like a giant balloon. Price doubled in 3 months. But then again it did lose 70% of it's value in 2017. Definitely not a one way bet. Stability is not the watchword with blockchain currencies. Plus there is little or no rhyme or reason for the swings. Even if there are fewer and less frequent coins being created. Volatility is blockchain's friend. $10 000 BTC, (again?) why not? A $4000 BTC again why not? Glad it's not vegetables or ice cream though. Though it is in China (certain veg) atm. New currencies... so do you trust the ledger?
  12. 2 points
    By the way casey great to see the Wykoff chart on the thread - good stuff.
  13. 2 points
    The reason Silver is more attractive than Gold to me is twofold: It has not rallied as hard as Gold of late so offers more short term upside and less downside risk than Gold, relatively. In the past Silver has been seen similar moves to Gold but in a more amplified way. If you look at the 2011 commodities peak your will see that while Gold made nearly 700% gains Silver made 1100%. Maybe it is my Spidey-sense but I remain unconvinced we have seen a true breakout on either, despite recent higher highs. The rallies have been straight up, I will need to see a pull back or a breakout of a significant level, neither of which we have seen yet.
  14. 2 points
    @elle It's been a great week for Wall St. bulls that's for sure but I think you've seen the top for now, next week could be a different story, with a bit of luck the Dax will make a move and from here it doesn't matter either way cos 12100 is my pivot so up I'm long down I'm short. I'm just glad it's Friday it's been a bad week for a bears (and Foxy's) on the Dax.
  15. 2 points
    I see no reason to Hide any info, if some one can gain a benefit from the experience of others, then lessons are learnt/taught the world is a crazy place these days, its nice to have a group of like minded souls all striving towards the same goal. while i love my macd and pSAR indicators my emotions always get the better of me and ultimately i lose, over the last few years i have lost around the $50K mark not to mention (due to other circumstance) losing my Business, House, Car, breaking my back 2 years ago in a car accident in the space of 4-6 months, over all Bankruptcy saw me down over half a million dollars+. But i get up every morning , i smile and go off to work, i have a new passion, a reason for living, Life itself has been very tough, but i feel the light at the end of the tunnel is now growing , and Karma is seeing i get my lucky break due. I now use an Auto Trade System, its only very new to me, this has been the 1st week and then only 4 days of it working at full speed, im 3 weeks into it, the 1st 2 weeks were a trial with $500 and i made $42 in that 2 weeks, now at the end of week 3 and another $5k put into the trading account, im up $296. With very low risk factors, this has the potential to make a lot more per day/week, but $70+ a night while i sleep this week is a good return. Im going to graph up some info over this weekend, and i will be happy to share my results with any that are interested. (will start a new post with it.)
  16. 2 points
    Gold has arrived at an important juncture for me but before that looking at that I looked back at the long term charts to remind myself of the big picture. Unsurprisingly there are 2 scenarios (1 up and 1 down), actually a third which is continued consolidation (sideways) because in the big picture Gold remains in a long term consolidation Triangle, which is narrowing. This is significant as at some point Gold will breakout of this Triangle and that will signal the resolution to which of the 2 scenarios wins out. For my money it is scenario 1, a massive Gold rally in concert with a massive stocks Bear as Gold once again reverts to its historic role as a store of value in uncertain times, and do we ever live in such times..! Note under these conditions Gold can, and almost certainly will, go in the same direction as USD. So I am Bullish gold and given all the bullish chatter of late you might imagine I am happy. Alas I remain unconvinced of this rally and will not be so until there is a break of the previous high, around 1347, which we are very close to. Actually I really want to see a break of the upper resistance (LT Triangle line and potential H&S neckline breakout). The short term offers 2 scenarios as well: the first a break of that prior High and turn at 1347, the second that we are currently seeing a wave B turn back down to a final wave C bearish run of the EWT1-2 retrace and a test of the Fib 50% line (also Weekly chart Fib 23%) before the true rally gets going. I am minded to the latter unless or until I see a break of the 1347 high. Technicals: A-B-C retrace could be completed where I have marked Green A at 1266. A break of the 1347 high would confirm. If not then the retrace is a complex version and the market will turn before or at 1347 and drop in a wave C. The form of the rally is currently in an A-B-C, which is not motive, however a break of the 1347 zone will change this set up. There is an un-closed gap around the Fib 50% level. There is a pin bar and inside bar price action formation at the current market area, showing a potential turn once this is resolved. RSI and Stochastic are over-bought. There is NMD on the 4 hour and 1 hour chart at the pin bar high, although we could yet see another test of the 1347 level before this resolves. Note also that we have seen a reverse Death Cross (some call this a Golden Cross) but I would ideally like to see a cancellation of this and then a final cross to cement a rally. This will only occur if we get a big bearish move now followed by a wave 2 retrace turn into a very strong rally. I am not looking to trade the bearish move, I prefer to wait for the Bull rally triggers and prefer to trade this in Silver rather than Gold, the former having remained more subdued. Add to that the Platinum bearishness and I can't yet see a case for precious metals rally. I think we will see continued stocks bullishness for a while, albeit likely to contain a lot of whipsaw action rather than a rocket, which does not support a massive precious metals rally, yet.
  17. 2 points
    difficult to stay away I know, that's because it is a challenge 🙂. Just a note on the gold chart. Stoch is a leading indicator while the MA's are very laggy. so your arrow pointing to the start of a wave down for gold has been and gone, there was a pull back which stoch signalled the start of by dropping out of overbought but it's now in over sold so you should be looking for a long entry as stoch pops up out of oversold and heads back up.
  18. 2 points
  19. 2 points
    Sometimes these odd number MAs have been derived from a larger time frame chart. In the pic below are the M5 and H1 Dax charts, the H1 has a 20 period lwma which is a common use while the M5 chart has a 144 lwma, see how their positions roughly equate to the price on each of the charts. So traders on the M5 time frame charts will be seeing similar signals to those on the H1 charts.
  20. 2 points
    @nit2wynit First, find the direction of the day then use a scalping curve such as @Caseynotes has suggested but only trade in one direction that will keep your losses down and your head straight, if you have the direction right you will get a few good scalps and that's all you need. There will be pullbacks and corrections but these just reload your gun.
  21. 2 points
    @Bell I see resistance @25350ish on the Dow any higher than that and I think June will be a Bull month, it sounds daft but it does seem to work a little that way, month by month. We may even see the Dow get there tonight and that will be interesting for the rest of the week. It looks like I'll be up late tonight looking for that short especially if the Dow gets to 25350 then pulls back. I trade the Dax but the Dow is the Boss.
  22. 2 points
    Hi @CABBAGETREEPALM, yes the stop distance should be lower when buying, not sure which etf you are looking at but am presuming you are on the spread bet or cfd platform, in the example below on the order ticket once you have clicked Buy > entered size > entered entry price, then the platform should say what is the min stop level, how much is risked and the margin requirement. Also, if you are looking to hold for a longer period check to consider buying the Forward rather than the Cash to avoid the daily 'overnight funding' charges.
  23. 2 points
    GOLD - Read all about it https://ingoldwetrust.report/wp-content/uploads/2019/05/In-Gold-We-Trust-2019-Extended-Version-english.pdf
  24. 2 points
    With that said... it would be cool to have bidoffer spread displayed on the chart MT4 style, even if that’s only on tick/second/minute and when on line chart.
  25. 2 points
    https://www.politico.eu/article/german-spd-reels-from-double-defeat-in-eu-and-regional-vote/
  26. 2 points
    Good Question, So The top is the NUMBER of Institutions holding short positions. The Bottom is the PERCENTAGE of capital. So ONE trader might hold an extraordinarily large position as an example, That would make it into the list. However multiple institutions might hold small percentage of trades making it into the list also. That's why I do a summary. The summary is an intersection of the lists to make sure that they are shorted by many and the percentage is high also. One trader might not necessarily be right but if multiple traders hold a lot of positions you can bet your dollar that it is for a reason. Overall it has been a very profitable strategy.
  27. 2 points
    Appreciate the erroneous tag @Foxy but as I have now accessed this thread I thought I would add my 2cents worth FWIW. To be clear, I do not trade the Dax but I do monitor it for congruence/divergence vs other indices. I am currently of the mindset that the Dax was the first of my indices to top out, way back in Jan 2018 and looks to have posted a Head & Shoulders formation with an associated iceline zone between 11,700-900. Stochastic and RSI are over bought, typical of a wave 2 end but there are 3 possible scenarios still in play as follows: Wave 2 (purple) not yet completed, will travel up to Fib67/78% and retest the medium term trendline that was broken back in Oct 8 when the US large Caps turned down sharply. Wave 2 Purple is already in (see Daily chart) and a smaller EWT 1-2 is also done and now the market will drop from here. A break through the iceline would confirm this. The Dax will join the US large caps with a fresh ATH, negating the H&S (SP500 & Nasdaq at least, Dow is not there). The price action from the Jan 18 top could be seen more as an A-B-C retrace (red labels), which supports a strong final rally to a fresh ATH, likely at or near the upper very long term resistance trendline. Looking at the Daily chart there is a strong pair of parallel channel lines, however Momentum is still is very strong negative divergence territory, will take something to reverse this and we haven't yet had a drop sufficient to reset. If scenario 2 is correct then I would anticipate a swift drop through the lower channel line that never looks back (or maybe a short term retest) as this would be a wave 3. So for me the lower channel line break is the key trigger (not withstanding the dreaded fakeout!) followed by a break of the iceline support zone.
  28. 2 points
    TA books are all good, not much changes, here's a look at a H&S failure pattern from 1936 from Technical Analysis of Stocks Trends. Edwards and Magee.
  29. 2 points
    I actually closed my oil long on the back of this post (along with some other analysis of course) so thanks for the trigger to re-evaluate.
  30. 2 points
    still hanging on in that channel !
  31. 2 points
    making big profit per trade will kill your capital. When i was day trading @$5 a point on the ASX200 index after 10 points of 1 way movement i would add an extra trade @$5 a point, and reset my stop loss at 11 points from the start once the 2nd trade moved forwards 2-3 points to lock the $55 profit in, some times i would vary that 2nd trade to $10 or even $20 a point to increase the return, i had to be quick and move swiftly the market moves with far greater speed in that opening hour, but on occasions if i got onto a nice wave early i could have my days profit target ($150) reached and exceeded in the 1st 10-15mins of Trade, then i would turn it off and go do something else for the day. In the same breath of that 10-15mins of trade i could have not moved fast enough then needed the next 4 hours to claw back at the loss i made in the opening minutes. Smaller regular gains add up faster than losing big chunks and trying to double your money every trade. Im actually running a live trial in a software program that im looking at buying for FX trading, no emotion let the computer do it for me. started with $500 its a 2 week trial, day 3 today, only risking 0.01% per trade, today it placed 4 trades which all were successful, $0.54 profit per trade. while not much, i intend to trade a lot more than that if i buy the program, but im sure u can do the math, if i traded with 10 times more and used a risk factor of 0.1% at least.
  32. 2 points
    @TrendFollower @Caseynotes You have both offered considerable and sound advice on another thread 'Is SB for fools'. I'm knew to this whole thing, but not new to life and ourselves as people. I had no idea there was such a bad energy between you too, but it is sad to witness on a Public Trading Forum. Whatever has come between you I suggest you talk privately to work it out. There are enough keyboard warriors on FB and Twitter to bring it here too. Nothing is Fact, everything is opinion. Ego is at play here. We all need to keep it in check. We all lose if we can't communicate effectively. i wonder if we can place a bet on you both and create a chart? Peace out people. Keep the advice coming, but leave the negative energies in the schoolyard.
  33. 2 points
    This has been something I've posted before, so sorry to the longer term Community members who may have already seen it, however it's something which I think is very interesting - and it directly addresses your point on 'the 80%'. Put simply, the best method to a successful outcome is to have a trading plan where you know your win to loss ratio going into a trade, you run your wins and cut your losses. This obviously should be taken as a parallel piece of advise and runs with the actual trade strategy itself. The 81% number is a top level statistic which I don't really think shows the ins and outs of client trade activity. If you want to use statistics and data then you need to dig much deeper into the numbers and in my personal opinion people shouldn't take these headline numbers as facts without substantiating them first. I've linked to a couple of insights we do have, noticeably which show analysis of 43 million trades, to show that actually on average on a per trade basis clients are winning more than 50% of their trades. If you were to take EURUSD for example a whopping 61% of trades are actually profitable - i.e. the client is winning their trade - and on average they book 48 pips. This means that only 39% of trades which clients took on EURUSD were loss making. The issue is clients on average hold their losing trades longer - in this study for about 83 pips. Each person needs to make their own trade plan, but the data is pretty sturdy. Another important point on the 43 million live trades analysis is that traders who upheld a 1 for 1 risk reward trade ratio had a better than half chance of being profitable after 12 months. Specifically 53%. Those who didn't have that 1 to 1 only had a 17% chance of being profitable after 12 months. The data therefore suggests that account profitability is wholly down to a client sticking to a trading plan over a longer period of time. Daily FX Article: https://www.dailyfx.com/forex/fundamental/article/special_report/2015/06/25/what-is-the-number-one-mistake-forex-traders-make.html Again, in my opinion for any serious trader this podcast could very well be the most important 8 minute podcast they could listen to: Listen to How To Trade Well: Avoiding the #1 Mistake Traders Make from Trading Global Markets Decoded in Podcasts >> https://itunes.apple.com/gb/podcast/trading-global-markets-decoded/id1440995971?mt=2&i=1000423861432
  34. 2 points
    Hi, Yes you are right. So I have made some minor tweaks to it, I count up the highest volume and highest number of investors and say pick the top 10. If the companies intersect both lists they are shorted multiple investors and a high percentage of their fund is short, They make the bottom list that is the summary list at the bottom. I am working on putting this into the API it automatically trades (shorts) for me on IG Index. Github is just just really a file-store for the purpose of this project. I am just using it as a central store so nothing special about Github in that respect. The log files are tagged per time generated. Hope this helps!
  35. 2 points
    You're quite right. I'm going to practice this approach and go for it.
  36. 2 points
  37. 2 points
    Hi folks, you may have seen the 'announcement' on Community, but at 10:30 today we'll have Julius de Kempenear, founder of Relative Rotation Graphs (RRGs) discussing GBP and how it is trading among its peers, as well as the future prospects of the FTSE 100. We'll be discussing the sectors on the move and how RRG’s try to identify a trend. Do you have any questions?! Submit them before 10:15 and I'll make sure Jeremy gets them. If you wanted a quick overview on RRGs check out some of the posts above, or the below videos (which granted is a couple years old now). Questions on specific assets Questions on RRGs Youtube videos here.
  38. 2 points
    I don't know what expectations you had when you started David, mine were to make a lot of money and retire. That didn't happen. After a while I stopped trading, took a step back and looked at what was happening. I had none of the stuff mentioned above which are needed for success. What I did have were lots of trading websites, discussion forums, tips websites, news feeds and so on. A confusion of noise with no structure and no plan. If you decided to open a business you would have a business plan. You would probably open a business that you knew something about and had lots of experience in, or could hire people to fill the gaps. You would know how much things cost, how much you could charge, and what the likely market would be. You would do a lot more than that and still might fail for any number of reasons. Spread betting, or any other form of trading is a business. You need to know what you are doing, you need to do it consistently and you need to keep monitoring your performance. To make money you need an 'edge' - which is simply a strategy which over the long term gives you more in wins than losses. It doesn't really matter what that edge is, just that you have it and trade it consistently. You do not need, and should avoid, trading on anyone elses advice. As I write I have a long position on Gold. I could explain why and someone might read this tomorrow, think it sounds reasonable and decide to buy too. I mogt have sold by then and gone short. My advice would be worthless. If you want to make money here's how. Open a demo account, with a similar amount of funding to what you would have in a real account. Review what you already know about trading strategies and pick one that you think you understand. Research this and make sure that you know all of the details. Does it apply to all markets? Does it suit short term or long term trading? Why do you think that it would give you an edge? Write the whole plan down - preferably with a checklist of all conditions that need to be in place before you take a trade. Start trading it with the demo account. Keep doing that for months if you need to until you always stick to your plan. Review the results. Did you stick to the plan? Did you make enough demo profit for it to be worth your while? Keep going with this until you are sure, then start with a small trading account and see if you can still stick to the plan, and make money. As you succeed you can start increasing trade size or adding other strategies but slowly. Remember that the reason for doing this is to make money. If you can increase the value of your trading account by 5% in a year you are doing better than most savings accounts. 3% in a month doubles it in 2 years. Big wins are for adrenalin junkies. Steady consistent wins are for millionaires. Final thought: Spread betting is the hardest 'easy money' you will ever make. Michael
  39. 2 points
    Ha ha, yes, exactly the same thing happened to me. I started a 4 year university course but realised I knew it all after the first year so I took the final exam and unbelievably I didn't pass. Clearly someone was to blame for this (other than me obviously) so I cast my eyes around and of course it must have been the college's fault. I mean all you have to do is take some indicators and chuck them on a chart and then pick out some pretty patterns right? I knew this would be easy for me as I'm good at spotting patterns. Clearly the fact that this approach failed meant the whole thing must be rigged. So next I scoured the internet looking for someone to tell me what to do and would you believe it but that didn't work either. The whole internet is telling me to do this or do that but when I applied these tips and tricks to the stocks I had carefully selected by chucking darts a stock page pinned to the wall nothing worked! I didn't realise I was competing in a two way auction, I thought I was just gambling like I do in Vegas where if the action is really hot and the big guys are throwing lots of money around and the spread is getting bigger and bigger then that is exactly the right time to jump in, boy was I suckered. It's not fair really as all I wanted, all I was trying to do, was to get rich quick, a very reasonable and quite simple goal really. The fact that this did not happen has made me sad and this has affected my relationships and it's all due to nothing less than completely unwarranted victimisation by the system I was trying to beat.
  40. 1 point
    Hi @backwardation, not really seeing a case for a H&S pattern as the overall price action would need to be heading into it from below not above, there is a case for an inverse H&S if we get a turn around and a break of the neckline. Yes, Oil is a bit out of step with the S&P at the mo, see weekly chart comparison second down.
  41. 1 point
    Wont be bullish on gold till it breaks out of $1350 ceiling. A concerted break above 1350 is a strong bullish indicator. Anything less is flirtation/divergence and gold will settle back down below 1300. A firm breakout above 1350 then the upside is $1500+. That's my trigger anyway.
  42. 1 point
    @dmedin I literally started looking for a job yesterday lol. I know most of what I'm doing wrong. Even now, got up late, missed the climb on the FTSE, but i was in no rush after yesterday. But also, I'm hanging around in the FTSE and there's no Volume. It's barely moving. I've decided I should be following the US market. There's plenty of info to be gathered. Other's posting Pre market Gappers and such using scanners. I thought I was having a breakdown yesterday. But all day I waited for it to drop. It didn't. Now today has news too saying it's doing well. Started with a huge spike. Is it coming down, or going up?? Who knows.
  43. 1 point
    Tomorrow will be different because .... 🤨 What did you discover from the end of day post mortem? The day proved to be an uptrending day. You had 9 long trades with 5 winners and 4 losers which is fine. The problem was the 18 short trades of which 14 were losers and 4 were winners. So you need some way of determining the intraday direction of price action. Consider something like a 20 period smoothed sma.
  44. 1 point
    Call me a fool. I feel it important to keep you all up to date with my progress. I've been posting screen shots of my Wins on the Demo. I have been easily achieving around £100 per day (2hrs) with 80% winning trades. I've gone Live again today for the 2nd time with 2k. I've lost 90% of my trades and down £230 in 3hrs on the FTSE. £55 on Uber in 2 seconds. I've already been sick once. Something is clearly not right here. Even using the lowest stake I can't win £2. The chart appears to freeze for a moment when I Buy in. then it reverses. I noticed this a few months ago when I started and commented that my Buy In almost always becomes the point of reversal. I went back to the Demo (back then) and proved a winning streak. went back Live lost it all again. I know we're going to put it down to psychology and fear of Loss. I don't know what to think.
  45. 1 point
    Hi folks - at present there are no plans RE: monetisation of the Community. Careers at IG can be found on our group website: https://www.iggroup.com/careers
  46. 1 point
    We may get a small bounce to around 25200 on the chart but I would be looking at 24500 then 23500. If those do not hold we double bottom. Stochs are way oversold but I do not believe that means a lot other than people are skittish. On the options and commodities floor in the old days guys would ride in at the overbought and oversold levels. They were doubling up on momentum. We could be in a fade the rally mode. Summer and earnings season could be hard for stocks. I am not a perma bear for my portfolio I would like it to let up. Also Italy looks rocky again and Deutsche Bank they cannot give the stock away. When the German Government unite the two largest banks in Germany you know they are exposed to some pretty horrible loans. They are making new lows daily. Dax below 50 dma lower to go. Does this remind us of a particular time. I hope I am wrong.
  47. 1 point
    Haha, @davidbrister, I've been full time trading with IG since 2012 and full time posting on this forum more or less since it started early 2016. I try to point the way but if you prefer the ramblings of amateurs lifted straight from books that's fine.
  48. 1 point
    Interesting postulation. The big bear? Not quite so convinced. For mostly obvious political reasons to do with supply and demand. Brent to $28? Not anytime soon. WTI crude an unlikely maybe, but Brent ? I am wholly unconvinced. The markets are not over supplied. Demand is as strong as ever. Not to mention sanctions on Iran and Venezuela. Saudi will not continue to sell oil on the cheap, even if Trump tells them to, though the Russians will with their current batch of chlorinated crude. A $28 Brent implies a Dow @18000 or less or vast reserves newly discovered. A market adjustment where the Dow rocks down to 20K late 2020 is a solid maybe, but oil? Graphics tell a story, but the giant big bear has not convinced me. Personally, I can see oil increasing through political tension and the strong possibility of actual conflict. The strait of Hormuz controls 30% of global supplies. Support at the $68 mark is considerable.
  49. 1 point
    @johnt4917 and @nit2wynit, I think @dmedin makes a valid point. There are enough good books out there in relation to trading that means if time, effort and dedication are applied then a lot of knowledge can be acquired. As they say 'Knowledge is Power'. Experience will only come with actual trading but one needs to acquire knowledge first and this can only come initially with reading and research. If one can network with real people who are traders then this can add significant value. When I mean network then I do not mean someone on the IG Community but real people in front of you. The reason why I say that is that no one on the IG Community knows the other so no one really knows if anyone is successful or profitable. Anyone can post including myself on IG Community but that does not make us experts or successful and profitable traders. One must be careful as just following anyone on IG Community (and I include myself in that) presents a risk, especially if those who you are following are just telling you something they have read on the internet and rehashing it back on the IG Community as their own analysis. In my personal opinion, a very successful trader, who is very profitable, would not be spending many hours on the IG Community. We all only have 24 hours no matter how successful or unsuccessful we are. Can a trader who is really that good justify spending a long time on IG Community? So the inference one can make is that I am not a very successful trader who is very profitable! LOL. 😂 I do spend quite a bit of time on the IG Community and maybe I could better spend that time really improving and fine tuning my trading activities.
  50. 1 point
    the stock market in China sure has some great trend days ( if only I were awake to take advantage ! )
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