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Showing content with the highest reputation on 18/09/19 in all areas

  1. 2 points
    Short answer is yes if you let it @BMP2020 However your gym story could have substituted any career or job type and still it would have rung true. You are really asking what makes people disillusioned with the life, and work, they choose. A subject for a psychology forum rather than a trading one. Still a few things to consider to avoid negative psychological changes might include: Finding the right trading approach, one that suits your lifestyle aspirations and personality - day trading is not right for everyone, not right for most people I might argue, based on the failure rates... But there is more than one way to trade. Most people are unhappy with work that doesn't suit them in a fundamental way. We tend to spend most of our working life acting the part by adapting our personality to what we think is required rather than being ourselves. With personal trading, with no boss, the least we can expect of ourselves is to be true to ourselves yet humans are masters at lying to themselves and lacking self awareness. As said before, learning how to lose; how to be wrong and what to do when we are is vital for your confidence and well being as well as your success. It helps if you do not make unrealistic and naive demands of your trading results. Expect to make losses to start with and to take a long time to sort things out. Only risk what you can afford to lose. Compartmentalisation is key. You have to be able to close the book on your trading at the end of the day and especially at the end of the week and shake off any bad feelings. That way you avoid taking those bad feelings with you into family and friendship interactions. You need to remain calm and composed at all times. When you are not, do not trade. One stratagem is to deal with losing trades quickly. If you avoid holding precarious positions overnight and over the weekends you will sleep better and be more composed. Oh and make sure you stay fit and healthy, get plenty of sleep and get out and about - enjoy the fine weather when it is available.
  2. 1 point
    yes they will be on less charts but I understand your point about the size of the moves in ftse, no harm in trialing them though you might find marking out the immediate prior high and low has more relevance.
  3. 1 point
    @jameswalker1 Those which allow you to trade an asset with less than $100 margin requirement. So for example Gold is one of them on UK’s Spread Betting account. You will not be able to trade many but there are a few. The problem you will have is that that amount of capital is not enough to place a leveraged trade on most assets available on IG.
  4. 1 point
    They buy and sell actual shares in the U.S. but they are still doing it on leverage. Not really sure how it works there though. I think they are genuinely 'borrowing' shares from their broker so they can end up going heavily into debt? If it's legal to drink oneself to death, or blow all of one's money in a casino, it should be legal to SB it all away too ... I'm sure the regulations are not for our benefit but for the benefit of the professionals and the big boys. 'Leave it to the professionals, they know what they're doing. 97% of these retail punters lose cash and are really just a small nasty stain on our esteemed industry.' And CFDs are only open to rich 'professionals'.
  5. 1 point
    I think the Point of Spread Betting relates to you and how you feel you can take advantage it. I went round and round in circles before I realised it was OK to Trade and in many way Beneficial over Share Dealing for the sheer fact that I can Place as many trades as I like and not have to pay commissions plus It's Leveraged (a Curse or a Gift?) sure, it's a bigger a spread, but that's of little concern to me. It just means I need to me more selective with my choices and even more so with my In and Out. Spread betting isn't available all over the world. It's quite a unique thing, but I don't think it will be here forever. Hargreaves for Instance have removed it. Tighter and tighter regs on it.
  6. 1 point
    Sorry, with CFD I actually meant share-dealing. Always thought that is the same. But it seems CFD is like spread-betting just a bit different. Let's talk about share dealing vs SB. Same ticker: EVR (Evraz) Black window on left side is share dealing with a DMA platform. Spread is 0.8p. White window on right side is Spread Betting with PRT. Spread is 1.8p. If I were to deal on the DMA platform I have to pay £5 (£8 if you don't frequently trade) for the transaction. If I were to deal on the SB platform I pay the larger spread, which is £1 per quantity traded. Let's say I have an account of £10k. This means on DMA I can trade about 2000 shares at current price. On SB I have enough margin to trade a qty of 100. Let's say the price moves from 510 to 515. On DMA I make £100 in profit. Minus 2x £5 commission for buy and sell, that's £90. On SB I make £500 in profit, because I have a 1:5 leverage applied. But I need to take the bigger spread into account. So minus £1 per quantity, so it's more like £400 profit. On DMA I need to tax my profits at the end of the year. So the £90 are more like somewhere between £55 and £80 in profits after tax. So is the point of spread betting purely that I have leverage available which magnifies my profits (and losses, lol)? And if this is the case, why would Ross and those dudes not do spread betting instead of share dealing?
  7. 1 point
    Thanks for the sharing. I have never had much success with BB so I will pass. But good to hear you have something that works for you. I asked because I am always interested to learn from other traders. Thank you again
  8. 1 point
    DMA didn't help at all with futures. I was hoping it would have a price ladder for futures but unfortunately it doesn't. I execute on ProRealTime (using the scapling trade book window, the tiniest one, which I overlay on top always visible), but I watch the charts on SierraChart ($36/month). I started using Sierra a couple of months ago to get volume information and volume profile. I realized it didn't help my strategy, but its such a nice platform so I kept it for the bollingers. They look much sharper on their hollow candles.
  9. 1 point
    Update from Iofina Iofina Plc @iofinaplc The Group is pleased to report that it has completed terms to begin construction of the Company's newest #iodine plant, IO#8, in western #Oklahoma.
  10. 1 point
    Hi, sounds great, especially with the wild moves just lately, which platform are you using out of curiosity, I remember we were talking about the DMA platform a few months back.
  11. 1 point
    I must add and emphasize that this is probably not a good strategy for most people and will teach you extremely bad habits, and would really only work on a crazy volatile instrument like CL (possible GC and YM). Please don't lose your money because of what I wrote here, I don't need bad Karma. YOU HAVE BEEN WARNED.
  12. 1 point
    Yesterday I tool 43 trades all in CL (USOIL). My strategy it to go 'all in' when the bar closes and a new one opens outside the BB13 on 1 min. About 40% of the time this is too early an entry and my account is down 15-30% until it clips the 3 min BB13. For big massive moves like yesterday and Sunday I also use 30min BB13. Note than when price clips the Bollinger there is usually a pullback and a retest of the area it clipped, so you get to play the move twice in both directions. This is a very costly strategy, so only play with 'free' money you have already made. I don't place any take profits or stops. I watch the Bollinger and wait for the pullback to exit a position on the other end of the 'price rotation' (think like a zigzag indicator, but I don't use it on screen). Also when trading CL you have to have a scrolling twitter client open on your desktop like Tweetdeck with only important sqwuak services and trump in the feed. There is a veteran pit trader I know who uses a similar strategy, but only on 1min and 3min, and he adds things like true strength index to his systems. He posts his trades realtime on twitter. He made $9,000 yesterday in pit session only. @jimb2468 on twitter.
  13. 1 point
    Hi, I have decided to focus purely on FTSE 100 Index too. I too target 10-20 points per day and have pretty tight rules which I occasionally break, but shouldn't! I try to trade purely between the hours of 7:30 am and 9 am. I don't carry positions overnight and certainly don't over the weekend. Looking forward to following!
  14. 1 point
    Dax and Dow starting out just over the pivot so awaiting clearer sign of direction. Below is a look at yesterday's Dax on a 4 point bar Renko chart; the day started below the pivot (orange) and a failed attempt to break up through on the London open, that was followed by two further rejections before a break down through S1 (red), then a retest and fail leading to a further break down not quite reaching S2. The afternoon saw a complete retrace of the morning's move back up to the pivot.
  15. 1 point
    Hi, in the UK they do have a minimum account deposit for the DMA platform, otherwise it's free to use apart from any exchange subscription fees. Find out more from your welcome page > Trading platforms > Advanced platforms
  16. 1 point
    Can you configure your Outlook to auto send it to Trash