Jump to content

Leaderboard

Popular Content

Showing content with the highest reputation since 16/09/21 in all areas

  1. 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!)
    4 points
  2. One more vote for having TV integration with IG
    3 points
  3. @ArvinIGlooks like charts are working now. Thanks for resolving the issue.
    3 points
  4. Hi, you've got a number of issues going on there; 1/ variable spread. 2/ exotic pair. 3/ time of trade. The variable spread system gives tighter spreads in normal market conditions but widen if volatility creeps into the market. Solution is to watch the spread and keep away from volatile times, keep an eye on the number between the buy/sell price. Spreads are always wider on the less traded pairs so always need to take that into consideration, maybe the EUR or US NOK pairing has less spread? Outside EU, UK, US normal trading hours causes a jump in spread as the normal liquidity providers have closed so brokers need to look further afield to find prices and so the spread is also inevitably going to be higher during those times.
    3 points
  5. I don't think I've mentioned this on here - but the stock market in 2000 - REPEATED the 1929 cycle - a quick look at a chart of the Nasdaq100 from 2000 and the DOW from 1929 confirms this, as the formation is similar and as you'd expect, anyway............. The stock market cycle from 2000 has played out beautifully - anyway to cut a long story short - IF, the Interest rate cycle repeated along with the stock market then the following dates should be observed and so far to date it looks again as if it is playing out nicely 1929-1951 = 22 years 2000 + 22 years = !!!!!!!!!!!!!! I wrote a thread on TIME CYCLES - the 1st post shows and explains the cycle and the sequence - backtrack this cycle and it hit 1929 too During the DOWN/DEFLATIONARY cycles you'll find that central banks throw the kitchen sink at efforts to stimulate things with little effect - the cycles down, nothing can stop it as its deflationary, BUT...... during the UP/INFLATIONARY cycles you find that price inflation, commodity spikes etc happen and the tools to combat that are Interest rate rises, tax rises etc etc etc I remember back in 2012 ish being told "Low rates are hear forever" by someone on some forum [not this one] - well lets see - I say rates will be back to 5-7% within the next 5 years [most likely a hell of a lot quicker] As humans, we have to position ourselves so that we are not burnt by adverse events, govts have proved they can't prevent crashes and the like PS - Stock Market - My expectation based on my analysis is its UP until the mid 2030's - obviously there will be plunges like 2020 along the way, but no major crash
    2 points
  6. Some Central bankers and other economists get carried away and think we high inflation. Some central banks policies as to create inflation in an deflationary period. How confused are they? Inflation has several meanings. For example we have hyperinflation in the stock markets valuations created from QE. Also, share buybacks is NOT investing in their own companies, but an illusion since nothing is invested in goods and services. This is not an experiment that some bankers have suggested. It has been done before with the same techniques, all to lead to a disaster for the average person and investor. Mountain of debt that governments have built up, even PRIOR TO THIS EPIDEMIC, is a result of voters buying by spend, spend spend money they do not have. And central bankers and banks encouragement advises -- let the future pay for it while the bankers milk huge profits from all this, until the domino collapses. Oh, the FED DOES NOT CONTROL INTEREST RATES and empirical data SHOWS THAT THEY FOLLOW THE BOND MARKET. This IS THE SOLUTION THAT NEVER HAS SOLVED PAST FINANCIAL CRISES, JUST PROLONGED THE CHAOS TO COME. iT WILL BE THAT MUCH BIGGER BUBBLE.
    2 points
  7. Hello IG Community ProRealTime is an advanced charting software and trading platform. ProRealTime's high quality charts, analytic tools and reliable market data received directly from the exchanges make it a powerful decision support tool. Our first product feature is custom trading hours on ProRealTime. We will cover how to enable custom trading hours and weekend data, how the setting affects market groups and how to adjust your charts to reflect historic dividend and rollover adjustments. Custom Trading hours Custom trading hours can be customized by right clicking anywhere on your opened chart and then select custom trading hours. As shown below highlighted in yellow and circled in red: After you select custom trading hours the following settings page will popup as shown below: Time zone used for data displayed in the platform Time zones selected modify the time zones used to display data displayed in the application. The time zones chosen affects all data including times displayed in charts, order lists and tick by tick lists. Trading hours Trading hours determines the range of time for which data is displayed on intraday charts. If you want to display all available data, you should choose the first option. The second option can be used to restrict the amount of dat displayed in charts to include less time than is displayed by default. The times chosen in this section are always based on the market's default time zone (regardless of whether a custom time zone has been set for the market or not). The beginning time must always be earlier than the ending time (ex: from 06:00 to 21:00). This option only affects charts and not lists of instruments or tick by tick lists. Weekend and Daily data Weekend data: This option lets you display or hide weekend data (Saturday and Sunday). The official market time zone is used to determine what data is included in "weekend data". Daily Data: When this box is checked, non-intraday candlesticks (open, high, low and close information for daily, weekly, monthly and yearly time frames) will be created based on intraday data only during the time period and time zones selected. Warning: using intraday quotes to create daily timeframe and higher candlesticks may reduce the amount of historical data that can be displayed. Historical adjusted to dividends and rollovers These options are used to adjust historical data after dividends for stocks or on rollover for continuous futures. Adjusted historical data is used in technical analysis to remove gaps that cause disturbance in trend lines and technical analysis indicators. Our data maintenance services constantly monitor the markets to detect these dividends and rollovers in order to make these adjustments to historical data. If you have any suggestions of features that you would like us to cover in future from the platforms that IG offers we would love to hear from you. For more information on ProRealTime platform kindly visit and click this link: Trading Platform PRT All the best, MongiIG
    2 points
  8. Thanks for the information! You helped me so much.
    2 points
  9. Interesting posts and comments. Started trading (Tech) about 1 1/2 years ago by training my brain as a share dealing neural network i.e staring at screens day after day. At the end of my first year I was up 101% making well into six figures, the following six months there was a correction and my return dropped to 75%, though the capital investment was higher. The anxieties induced by volatility were too much for me, e.g. if i exited a position and it went up or entered and it dropped i would critisise myself and hence came to the conclusion that day trading/swing trading wasn't for me as my temperament is more as an investor than a trader. Since taking that approach i am a lot happier. Below is a summary of my experience a) Share prices have no inertia and hence they operate in a manor that the human brain isn't suited too hence computers would be better for short term trading. b) You are competing against computers and institutions that have a massive advantage over you, you are probably not going to win. You therefore need to understand how they work or play in a enviroment they have little interest in. c) At first i watched all the news programs and took note of the 'experts', it took me 6 month to realise that news opinions are a waste of time, and most experts don't know what they are talking about (assuming their opinions where their actual opinions, of the 18 expert predictions i noted down not one was correct) d) You need to find what type of time frame you are comfortable entering and exiting in. E.g. If you are predominantly a natural investor there is no point trying to predominantly day trade and if you are predominatly a natural day trader there is no point trying to predominatly be an investor. e) Have little confidence in techicals, fundimentals are far more important.
    2 points
  10. Hi all, It seems that the issue is due to an update that happened on that day and over the weekend for the demo account server. The IT team is still working on it as the ticket is still in progress. Thank you - Arvin
    2 points
  11. Hi all, The IT team is working on a fix, the incident has been raised yesterday under the reference INC0585130. We will keep you updated as soon as possible. Thank you - Arvin
    2 points
  12. @ArvinIG More info although your tech team should be gathering this info.... Demo 1hr chart working OK : * indexes * commodities * Fx * crypto * some shares TP ICAP, GAMMA COMMUNICATION demo 1hr chart not working: * Barclay's * Lloyd's * Tesco * Amazon * Tesla * many others
    2 points
  13. Demo account not updating correctly since Friday 24th Sept, Real account appears OK. Attached image for 1hr interval with no price since Friday. Can you resolve please? Android IG App version 3.61.1
    2 points
  14. I can confirm that charts work on 10 second timeline. but no other timeline is working. I'm using ProRealTime to do paper trading with IG now, evaluating it in that way. No chart issues there, but I'm having issues setting spread bet size of 0.6. In ProRealTime I cannot figure out how to do that. So I need to open a position in IG web platform and then switch to PRT. PRT looks so old and outdated but the chart in it self is pretty **** good thing. I've folen in love with it. It has some pretty good features (I use TradeView as well). But overall not that happy with IG, still not out but not going to go live either. Not until I gain some confidence in IG support and see some client care.
    2 points
  15. It looks like it is an issue with demo accounts, as I'm also evaluating IG before I invest. ArvinIG, is this something you can try, see if charts are working on your demo account. I'm a software developer myself so would not approach you if I couldn't resolve this issue myself. Charts are working fine in ProRealTime but not on IG web platform iOS app or Android app. Now you have a second user confirming the same issue. Therefore in interest of IG it would be preferable that you raise this issue with technical team and resolve it for us. I see no need to chase for resolution if you as a company are not interested to do so. So far happy with the platform but this issue is a deal killer.
    2 points
  16. Thank you DavyJones for this nice and objective post. I did FOREX trading 10 years ago, had no idea what I was doing, and lost money. Now I am returning and want to day/swing trade. Your post has a lot of things that resonate with me. It has been over 12 months since your post, I wonder how you are going with it? Would you like to share some of your thoughts? I am also looking for a day/swing trade community that trade in the Australian timeframe. Any suggestions?
    2 points
  17. I have a similar problem with no data showing between Friday and the current time. I have twice sent emails with attached screen shots to the helpdesk and all I've had in response is an automated acknowledgement. I joined IG to evaluate it for trading. This has failed my evaluation and I'm out. How am I supposed to risk my money with this level instability and support. Sorry!
    2 points
  18. I got a strike last time for swearing. So I will keep it clean......... this time. Currently 200 vaccinations down another 325 to go...... My bosses better give me a pay-rise for all this work. Because I am busting my ****-offf here !! I have aged at least 8 years with a growing pot belly. I am only 32!! On Fridays, I usually stay at home, generally looking like a homeless person in sweatpants. In between catching up on much needed sleep whilst my 3 yo naps after bouncing at the trampoline park like a gummy bear and wrestling with her to get some E45 lotion on her eczema, I sit and watch her play or watch kiddie shows with dinosaurs with her ( its a phase ...... i like this phase.... I am quite happy sit there and learn about the history of the cretaceous period whilst she tries to pronounce words that with 4 to 5 syllables) You see , kids are like sponges ; they know nothing about the world and will absorb everything and anything you teach them. This curiosity gets lost as we grow older and more cynical. It is more a function of life lessons and interactions with other people . As I watch her, I find there is a curiosity to her. She wants to know everything, constant questions many of which I have answers to but a few of them I don't. In my time with her I also notice that there is a playfulness she radiates with respect to the way she asks questions. There is no pride, no anterior motive, no conflict of interest , the girl just wants to get an understanding of the world around her. When trying to " crack the code" of financial markets I have found this perspective useful. Curiosity and the willingness to learn from others with the objective of gaining better understanding serves well in this field. Sir Isaac Newton put it best ......" I do not know what I may appear to the world, but to myself I seem to have been only like a boy playing on the sea-shore, and diverting myself in now and then finding a smoother pebble or a prettier shell than ordinary, whilst the great ocean of truth lay all undiscovered before me" .....How simplistic yet elegant........... No gin today. It's 8pm in Cambridgeshire, I'm in a pub, heavily caffeinated. On to markets.... If you recall in my post below 👇 I warned about chasing prices higher. I also updated members of a facebook group I am part of my observations on the DOW on the same day here.👇 How did I know a correction was the higher probability outcome ?? I didn't , I just did what the data told me to do reduce exposure.... If there is one thing I learnt from the man who's process I used as a template for mine; the ever so bombastic , no nonsense and forever jovial Keith McCullough head honcho @ Hedgeye it is this ; sometimes in markets you win when you don't lose money when everyone else does. I am forever grateful for all his lessons. So whats next ?? Again I don't **** know but what I can share is a few more observations from my tools. Ready ? Here we go !! As part of my trading process, one metric I check regularly, is the "market regime" of any instrument before I trade it . The blue chart is a measure of the rate of change of of the the autocorrelation of an asset with respect to their returns based on a time (t) and the red chart at the bottom is the price. I find this very useful as a tool to gauge how extreme the auto correlation function of an asset is . If you don't understand it, don't worry. It took me 6- 8 months of deliberate study to get my head around the idea ( then again I am as dumb as they come so it may take you 5 mins hehe) . Simply put, opportunities avail themselves at extreme pivot points. In other words, not all price changes are tradable. I also view market movements as though they are mathematical and visualisation problems . I find it extremely difficult to trade signals and chart patterns on the fly as well as intraday so I try to think about markets in a " price regime" sense. Shout out to Darius Dale of 42 macro for this! I find that being able to visualise a market in one of three regimes ( Bullish, Bearish or Neutral) allows me to quickly determine wether an idea is worth investing/ trading or not . See chart below. Top = price , bottom = returns ti From the above observation, we can see that the FTSE is now in a neutral price regime with returns since May 2021 in bearish territory. Looking back alarm bells should have been ringing from mid September because that was the initial point in time where returns turned negative and most importantly STAYED NEGATIVE! Could things reverse ? I dunno maybe but what I am looking for to have higher conviction in the FTSE will be; a) Better macro economic conditions ( Energy Crisis resolved, better economic data etc) b) A rebound of the returns towards positive territory. c) A change in the price regime from bearish to bullish. d) Most importantly, a bearish VIX I would be happy to deploys some capital on the long trade if at least three out of those three conditions are met. These tools are one of many tools I employ to better understand and appreciate the complexity of markets in the sense that I want to see the sequence and regime shifts as they unfold. It's not easy but with a little effort, a few sleepless nights, trial and error anyone can do it. Looking ahead, I am starting to warm up to the view that global growth may start to reaccelerate at some point over the next 2 quarters. Given that we are currently in the midst of an Industrial Production slowdown. This is based on the work of Lakshman Achuthan at ECRI macro research. In his observations, he highlighted that the conditional probability of equity market corrections rises when the overall global economy transitions into a slow down. We can see this in China for example. It doesn't mean everything is going to hell in a had basket ( policy makers will not permit this due to various pension obligations) . What it does mean is that corrections like these give investors an opportunity to take new positions that have better risk rewards. So do not think of this correction as a set back but rather an opportunity. Spoil yourself with trade ideas, start looking to implement the trade ideas you have on your watchlist because this will turn out to be an opportunity in a few months from now. Thats all for now.... Take Care.... Before I forget..... Here are a few resources/books that I found useful in my journey to better appreciate the ever changing nature of financial markets ; Misbehaviour of markets by Benoit Mandelbrot ( I still don't understand fractals but appreciating the importance of volatility is very powerful , Algorithmic Trading By Ernie Chang teaches various mathematical principles and ideas that enable you work smarter rather than working harder, which is a principle I picked from Anton Kreil , Introduction to Fractional Calculus ( wikipedia will do ) , Interviews with Benoit Mandlebrot on youtube, Darius Dale and his educational videos on youtube, Keith McCullough educational videos ( Often quite funny , the man is a good teacher) Interviews with Anton Kreil from ITPM which are on youtube and based on day to day principles for capital preservation ( this man started me on this journey and taught me the importance of getting perspective ) , plenty of caffeine , tears , gin and a lot of patience. Thats it from me .... time to leave the pub. PPS follow me on twitter for more observations.. we have created a new page https://twitter.com/lcrm_r?s=20
    2 points
  19. i just found a path to delete an old list as you were replying ! ta. . yet one of my old lists won't show a delete option - must have been created by IG. no probs. Thanks.
    2 points
  20. Thanks Casey, that is a tremendous help. I found this on the settings page you talked about: "Automatic rollovers are enabled by default on open positions on futures contracts." So I'm all set for the gains to keep rolling 😁 Thanks again!
    2 points
  21. Hi, you need to look at the info ( i ) dropdown tag on the deal ticket for expiratory dates and times when the position is closed and any profit or loss realised. A new same position will automatically reset if you have clicked the auto rollover tab in your Settings page in your My IG. There used to be a discount for having the auto ticked but don't think there is anymore.
    2 points
  22. Many thanks Arvin. I'm new to IG, but was surprised not to see this feature as I'm used to downloading my position statements from other trading platforms as a simple click to export (csv/excel/pdf) every month end. I don't know how other people manage this at present. Nathan
    2 points
  23. Propaganda at its best. I fail to see the point of posting your garbage. Have you lost that much trading with IG that you are committed to fill their forums with rubbish? That would make sense to me. https://www.gob.pe/coronavirus They are not only testing and forcing everyone to have a PCR test in order to enter the country. They are a leading country in South America in terms of Covid vaccinations. It is Perú by the way, you can't patronise people in English if you make grammar mistakes in other languages, my dear.
    2 points
  24. Sold it off, good enough R value for me. Looked like it was losing steam. If it retraces a little I might look to come back in. But the market hasn't been so bullish in recent weeks so could be risky. I guess we will see how it shapes up
    1 point
  25. Hi @Hampshire321 The demo uses leverage too. So it works on the same principle as the live account. A 1GBP pp trade will equate to a 5 GBP loss if the market moves 5 points against you. All the best Anda
    1 point
  26. Thanks for finding out. Much appreciated,
    1 point
  27. Here is one Kafkaesque investigation which has resulted in the Lockdown King being issued by Victorian Police with two infringements valued at $200 each for breaching the state's mask mandate on both Wednesday and Thursday this week. https://www.9news.com.au/national/victoria-police-reviewing-why-premier-daniel-andrews-failed-to-wear-a-mask/6714112c-ca22-4538-8f38-57c76b8dea5f
    1 point
  28. Hi @Chezan, In the UK you can trade US stocks. You will need to complete a W-8BEN form (5 minutes) from My IG > Settings > Dealing US stock : I hope that it helps! All the best - Arvin
    1 point
  29. Having a robust process also helps.. Checking things like correlations ( can be programmed using a simple script on python) . Understanding the behaviour of volatility is also essential. And like you said .... PATIENCE.
    1 point
  30. Hello. I'm currently learning about spread betting using an IG demo spread betting account. I can't find anyway of adding envelopes to simple moving averages or EMA. does anyone know how to add envelopes or do I have to use an alternative such as Bollinger?
    1 point
  31. Natural gas pullback brings potential buying opportunity Natural gas has seen a rare pullback this week, but the ongoing uptrend and expectations of rising winter demand signal a potential buying opportunity. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 30 September 2021 Natural gas on fire over the course of 2021 Natural gas has been one of the biggest outperformers in a highly volatile commodity market, with the energy markets really gaining traction into a crucial winter period. Demand is likely to continue its uptrend going forward as temperatures drop, with the chart below highlighting how we typically see residential consumption surge over the winter period. Source: US EIA Meanwhile, that rise in demand puts pressure on supplies, with any ongoing struggles from a supply perspective likely to dial up in the coming months. Source: US EIA Pullback brings potential buying opportunity The wider chart highlights just how impressive this bull run has been, with the price of natural gas bringing us into a seven-year high. While we are obviously heavily stretched, it makes sense to expect this to continue until price tells us otherwise. Source: ProRealTime The intraday chart highlights how we have seen a sharp decline this week, providing a potential opportunity for bulls. A break below the $47.60 level would bring a more neutral/bearish outlook for the near-term. However, until that happens this latest 61.8% Fibonacci retracement provides us with a potential buying opportunity within a remarkably reliable uptrend. Source: ProRealTime
    1 point
  32. Now seems to be fixed for me.
    1 point
  33. FTSE 100, DAX, and Dow regaining ground after recent declines FTSE, DAX, and Dow show signs of a possible end to the recent bearish phase, but questions remain as resistance stays unbroken. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Thursday 30 September 2021 FTSE 100 rises through resistance to bring three-week high The FTSE 100 has managed to push up through the 7131 resistance level this morning, bringing about the highest level in over three-weeks. Coming off the back of a consolidation phase, there is a good chance this paves the way for another push higher as the index attempts to end the bearish phase seen throughout September. A move back below 7010 would certainly bring a more pessimistic picture back into play. Until then, there is a good chance we continue to grind higher in a bid to regain the key 7195 resistance level. Source: ProRealTime DAX attempting to regain lost ground The DAX has been on the rise since Tuesday’s lows, although the downtrend seen since mid-August remains intact. With that in mind, there is still a risk of further downside to build on recent losses. However, with price having surged from the key 15047, there is a possibility that the index bottoms out here. A break below 15227 and 15193 would certainly provide that warning sign that we are heading back into the 15047 support level. Source: ProRealTime Is Dow Jones building a base after recent losses The Dow has seen another bout of losses this week, with price falling back into the 61.8% Fibonacci support level at 34362. Much like the DAX, we are seeing a market coming off the back of a decline into the wider support level (33740 here). That signals a potential for the index to build a base and start to regain ground from here. With price turning higher once again this morning, we are starting to see the potential for a rise back towards 35064. Such a break would be required to end this recent bearish phase and signal a possible move back towards the previous highs of 35633. Source: ProRealTime
    1 point
  34. I too have gone through a long learning experience, probably more about myself than the markets, and I was perpetually assuming that the next move in price will be a logical step from A to B. Of late, I am starting to realise, as the previous contributor said, that the newsfeed from most directions is intended to influence the market not inform it, therefore I am more inclined to avoid focussed financial commentators and look for longer term movements and possible signs of a change such as ‘head and shoulders + necklines, double tops or bottoms, dead cat bounce etc. Also, a Gann fan on a 4 hr timeframe & another on a 1 hr timeframe can be useful, as can a Fibonacci fan on these TFs as well. This has helped to move the returns in my favour fairly regularly now, but I have a very long way to go as I am still prone to ‘impulse trading’. Shalom, Salaam, Peace
    1 point
  35. Interestingly enough I've been doing some digging (I'm also a software man! @Burim) and with the stocks that have problems they exist for any periodicity down to 1 min. If I select 10 secs or less it's okay (although, of course, you can only see a relatively short period of history) unless I select tick and then it just seems to hang. So at least I can select 10 secs and get some idea of current movements. Any periodicity above that doesn't work. And you're correct; as I'm evaluating I am, indeed, using the demo platform. But it's not much of a demo if it doesn't work.
    1 point
  36. If European countries are removing Covid passports, does that mean that we don't have the Great Reset/EndOfDaWorld thing anymore? That's disappointing, I kind of believed you when you warned us about the end. The end is not near then? I am confused. Please explain. What are Davos' boys saying about it? They must be disappointed.
    1 point
  37. Great post... Inflation is less transient than central bankers hope. The current result is transient (they hope) stagflation. Reflationary trends are more likely than not, though the general market correction that is being deferred once more, is likely over due come Q1 22....more likely before. As for your clever strategy, respect. As a simple Oil and gas trader I judge different metrics (like actual physical supply, storage and expected and real demand) for example. Plus order flow is useful. Have a great day trading all. Finally getting round to booking some holiday time that's not in the UK...which is a good sign..
    1 point
  38. Thanks Anda for your super fast reply
    1 point
  39. Indices stage a further recovery A revival in risk appetite has seen indices across the globe rebound from the lows of earlier in the week. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Wednesday 22 September 2021 FTSE 100 The FTSE 100 has continued to make headway after a choppy session yesterday, during which it managed to find support at the 200-day imple moving average (SMA) of 6897. The price has continued to climb, recovering 7000, and now it targets trendline resistance from earlier in the month, coming in around 7050. With daily stochastics crossing higher too it looks like the buyers have re-established control in this market. Source: ProRealTime DAX This index finds itself some 400 points higher than Monday’s low, with a recovery apparently firmly underway. The stout defence of the July low left sellers unable to push the market lower, and instead a rebound has developed that could now begin to target 15,800 in the medium-term. Source: ProRealTime Dow US indices have been more hesitant thanks to the Federal Reserve (Fed), but Dow futures are showing signs of recovering as well, moving back above 34,000. Now we look to see if these small gains can hold as markets await the Fed decision, and whether they can move higher once the decision is out of the way. Source: ProRealTime
    1 point
  40. Thanks for the comments, lots to think about. I'm probably guilty of not protecting my account enough, leaving the stop too long before moving to break even etc. But it is hard to do as you might get stopped when the market was going to continue on up and you have to start all over again.
    1 point
  41. Thanks again THT, Been looking at the 50% levels on s&p500. Quite a large retracement like FTSE. Went through two of my 50% levels from prior swing lows but right now seems to be turning on the 50% level of the 3rd prior daily low, we shall see. The more lines you draw though the more likely price will turn at one of them of course. If you do get false positives it would be nice to not lose money but that assumes you've already moved stop to break even and I find you can't do that too soon so sometimes I do lose and hope the accumulated losses can be made back so long as the market gets back to close to the former high. I'm not thrilled about having to rely on that fact but what else do you have to go on..
    1 point
  42. Hi Guest FSA Have a look at this outlook on EURUSD, very insightful technical analysis breakdown from @THT. All the best - MongiIG
    1 point
  43. OK lots happening in the markets this week - not going to have chance to write up every market, so I'll keep on with EURUSD and GOLD EURUSD: Minor double top which stopped the advance and stopped out the long from the swing #2 low off the trendline - Price has caved through the 50% level (1st attempt provided small profit) Outlook = the 50% level is STILL an active level - we are also approaching and have to consider the prev green swing lows as we are very close to that being a possible triple bottom to bounce from and then we are also near and close to black triple bottom territory - just below the black line is the weekly 50% level [not shown] So apart from the gann 50% level - looking for potential reversal set-ups around/near the previous lows - for me these long poss trades take precedence over shorting at this stage On a more higher level, "IF" a swing low forms without the swing low of #2 green being hit or exceeded then it's technically a bullish gann secondary reaction or Elliott Wave 2 formation with an initial target of the prior swing high #1 and the red swing high #2 still as ultimate potential target also remember that the expectation from a double top is the target is the prior swing low - so if that double top performs to that expectation it will invalidate the secondary reaction option and form a triple bottom Remember to survive and thrive in this game, if the market changes the outlook you have to change too, unless you'll be left holding positions for reason A when the markets no longer working out to reason A!!!! - This is a huge factor in why people fail to win in this game, you have to have multiple outlooks, no preference and just trade when a set-up appears, most people like to be right and as we can see this market is in a multiple possibility position, which most people can't compute GOLD: We have had an unusial and rare minor quadruple top, the expectation there was for a gann 4th time lucky to happen, but it didn't, the reason for this was that the double top possibility was stronger than the 4th time lucky potential - market has caved to the 50% level of the prior swing and triggered a gann 50% trade as it rallied back through it - this level is in a tight zone from the previous swings labelled a/A Outlook: We have an active 50% trade - the expectation from this is a rally back up to the prior swing high which was a confirmed double top too - I didn't mention this previously, so I', hoping those watching carefully are picking up things (I don't mention everything!) - the DT worked and shorting it to the 50% level IS [was] a valid trade - take 2 mins here and think, long if the gann 4th time lucky trade triggered, if it failed, then we could potentially have a double top which you can short - this is absolutely acceptable thinking - you trade with the market, forming pre-conceived hard and fast ideas can stop you trading profitable trades - remember the market is in charge, we just piggy back along it OK so if a rally happens from the 50% level, it will form a triple top possibility, so you need to be aware for a reversal at that level - This is NOT guaranteed to happen and price could go straight through and upwards If price continues to drop then it will approach a triple bottom - again it does not have to do this, but more often than not the following happens, it will form a gann 4th time lucky attempt on the lows and more often than not price goes through that level so the expectation is to short it at that level and more often than not when price crashes through a 4th time lucky point it then retraces back towards that level for it to then continue down It is also perfectly possible for the market to create a quadruple bottom as we have seen of the recent highs, a gann secondary reaction / Elliott Wave 2 too - so like the EURUSD market we have to be open and flexible in our thinking and trade only when a confirmed set-up appears Like anything don't trade other peoples plans, trade your own methods and set-ups once you fully understand them and have tested them thoroughly Trade at your own risk and THT cannot be held responsible for other peoples trading The purpose of this thread is to show you how swings interact and from which very profitable trading methods can be established from those swings of the market THT
    1 point
  44. ““You can’t just diagnose somebody on the basis of a snap judgment,” Whitbourne said, “but you can see narcissistic qualities.” By appearing to prioritize a phone call over the state mandate, for example, the man in Whole Foods seemed to be sending a message that “I’m above those laws, I’m special, the rules don’t apply to me and I don’t care about other people,” she said.” I reckon most of those engaged in civil disobedience simply think it is nonsense.
    1 point
  45. Thank you i have left a post on that page
    1 point
  46. Echoing this question - I want to export my list of shares (positions) to Excel - can anybody advise, please?
    1 point
  47. I wanted an answer to this 1 year ago, but there was a sever lack of input on here from IG so I didn't even bother asking. I'm happy to see there is now adequate support and responses. Big Thumbs Up. Thanks.
    1 point
  48. Most daytraders just have gambling problems/addiction . If when you sit down at your platform and are in a trade within minutes chances are you fall into this category . You need setups that provide an edge , an empirically proven systematic edge with a positive expectancy , Many times this 'edge ' may take a few hours to trigger . Patience is needed to wait for the' right ' moment and then decisiveness and the ability to unemotionally take a trade is paramount . I'd suggest that > 90% of 'daytraders ' would have no idea of their expectancy and if they actually knew their expectancy it would force then to acknowledge they have negative expectancy ( zero edge ) . Anyone what actually quantifies their expectancy and finds its negative would be a fool to continue trading > daytrading successfully is one of the hardest jobs out there , easier to become a successful lawyer imo . Anyone that think they will become a profitable daytrader without putting the best part of a decade learning is fooling themselves . Daytrading has its benefits sleeping on cash overnight and weekends as time in market is risk , you need to be in a position while its moving and get out when it stops . In an average day i can often only be in market for as little as 2 hours . If you can get to the level that maybe the top 2-3% can get its a lucrative pursuit but it will be the hardest thing you have ever done . Thats what makes it worth doing . Good luck to all that go down this road but lucks got nothing to do with it in reality . The correaltion between ' luck ' and HARD work can never be underestimated Maths and data will set you free but not the usual datafit thats prevalent out there , You need to understand what to measure in price action that presents itself in repeatable patterns . You need to understand bias regimes , volatility , momentum , etc and develop tangible unique ways to define . The usual generic studies in most platforms are not great at doing this . There is no one stop algo to deal with all market stages ., you need a ' set ' of systems for different regimes and some filters to switch between them as markets shift regime . Volatility is what i find the key to much of this . If i have turned anyone of from daytrading you were not right for this pursuit . Rock on .
    1 point
  49. This is an amazing post and perfect for me as I am just starting my journey - also from a banking and finance background. I posted something here earlier, but do you use a news feed? if so, which one? if not, why not and what are your thoughts? Good luck with the next stage of your journey.
    1 point
×
×
  • Create New...