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Showing content with the highest reputation since 19/06/19 in all areas

  1. 3 points
    Which means if you bought at any time other than those 87 days in the 10 year history, you'd be making money. BTC $50k within 18 months. Whoop whoop. Set your alerts.
  2. 2 points
    Unfortunately i am no longer able to continue giving these updates. Alas our fun journey ends here, my fingernails are intact @Caseynotes, lol I will be here still in the forums. Thanks all for your input. DJ
  3. 2 points
    Hi Caseynotes Thanks a lot for the reply, I found your post very useful. Cheers
  4. 2 points
    No problem @gautamhait, looking at the Gold hourly chart below you can see price has nudged hard up against resistance at 1400. If you look back the largest blue breakout candles occurred at 1:00 am and 2:00 am (UK time) on Thursday and Friday, it would not be unreasonable to expect another attempt to break above 1400 around that time on Monday morning so a stop entry order above 1400 looking for price to attempt a retest of the recent high 1411 would seem in order. I would keep the stop loss tight as 1400 is make or break so just beyond the red trendline would seem reasonable, if 1400 were to hold and the trendline was broken I wouldn't want to stay in a long trade anyway.
  5. 2 points
    There is never a dull moment in the lumber market. Have been sitting on a considerable drag on my numbers with Lumber, as it wobbled and dropped to the 30000 mark. I called Lumber at 34000 May 2019 and was left scratching my head trying to understand what exactly is fair value. However, Lumber is slow to grow, until it's not. Upshot being Lumber has quietly grown 35% over the last month, turning red numbers green. I know Crypto's have bulled higher but Lumber has recovered it's value. And some. Perhaps overly so, as most markets tend to over compensate, both positive and negative. The timing of which still serves to confuse, which must be on account of my novice status.
  6. 2 points
    The rules for a system don't have to be extensive because really there are only so many ways a trade can play out. Before that though you must decide what type of trading system the rules are to be applied to, the broad basics, swing or reversal or day trading, that list I posted recently in the Technical Analysis thread covers it. So you have already decided type, time frame, time to trade, amount to risk etc well before looking at the charts. Then it's just a list of simple rules to govern the actual trade, if this happens then I do that, that are applicable to the type of trading you have decided on. For example, I will enter long if ?MA crosses above ?MA when both are above the upward sloping long term ?MA. I will set a stop loss at the most recent swing low. If the trade progresses the ?MA will act as my trailing stop and I will exit when price closes below it. It really can be as simple as that, if it works on demo over 20 trades (has a risk/reward ratio and win rate plot on the profitable portion of the graph (ask if you want to know more about this)) then go ahead and trial it live at minimum size. So with rules in place all you need to do is act the robot, follow the rules and keep the emotional wreak you really are well away from the decision making process 🙂
  7. 2 points
    Missing an entry; http://yourtradingcoach.com/trader/the-hardest-trade/
  8. 2 points
  9. 2 points
    @nit2wynit, Absolutely. There is no place for 'luck' and 'hope' in trading. You are beginning to think on the right lines.
  10. 2 points
    From that example @nit2wynit how much are you betting per point? from $1 to $2 its 100 points of movement. If you had only used $1 a point you would make $100, but if you used $5 a point then you just made $500. Most markets have a bigger spread when they are closed compared to when they are open. I guess i never worried about the spread factor as much, if the item was worth $1 with a 3pt spread, then in the open market it would show a BUY position for say $0.97 and a SELL position for $1.03 and as long as i sold it on the other side of the $1 either way i was ahead. It looks like you might have got your answer above, i hope so mate. Best of luck with it. I still only see Nitwit, and laugh knowing its not that now, lol
  11. 2 points
    Oil volumes this morning are exceptionally low. Almost no sellers. Be careful in either direction.
  12. 2 points
    Silver has a lot of catching up to do so seems like a more aggressive play but with considering the risk/reward seems a very attractive trade on the 'Long' side. Gold of course is leading the way. When you look at the 'daily' it has broken out of a price range and there is a clear breakout. For those who are not trading Gold then I would advise to go 'Long' on any pullback as the next major move in Gold could be pretty significant based on this current price behaviour. I think the mere fact that the Fed did not raise US interest rates has boosted Gold and Silver and given a purpose / driver for this current move. I would suggest keeping a close eye on the US Dollar and Bonds to give a better insight into the future direction. Also political and economic issues surrounding the US, UK, China and India etc. will also give a trading perspective. Remember Diwali is coming so India should begin to increase its Gold imports. The middle class in India is becoming more and more affluent. So we may see 2-3 month period where the Gold price could potentially have a chance to appreciate. The danger with Gold and Silver is that the demand and appetite is not there compared other more riskier assets and therefore the actual big move does not materialise. That risk is very possible so stop loss management will be key in case the breakout does not lead to a significant move upwards in both Gold and Silver.
  13. 2 points
    @Caseynotes, yes i can change the size of the trades, the system is ran on a VPS so it can trade 24/7, in case i have power outage or internet down. @Foxy, yes it runs with MT4/5. I am using MT4 via IG @TheGuru12, i paid purely to remove the emotion from my trading. I have a day job which i enjoy, and this auto system works at night while i sleep, i woke up this morning to find an extra $170 in my trading account, who wouldnt like that? to create a passive income was my goal. Im sure they do use it themselves but saw it as a sellable item. Heres what it traded from lunch time wednesday to 7am thursday morning
  14. 2 points
    Mate that video is old, I seen it not long after it first came out in early 2018 and guess what, the guy is setting you up to sell you his own product, what a surprise! Yeah, all brokers are bad ho-hum. But the thing is small retail would never even get a shot at trading without them. But oh, they give the big boys a more personalised service, shock! Most small account traders are going to blow up their account themselves within 3 months anyway. Basic research would have lead you to discover mt4 was never written for mac though metatrader did write a get round, not perfect but as good as it gets, mt4 is 3rd party and not down to IG. Most of the 10s of thousands of IG clients aren't big fish though the few big fish probably put though most of the trading volume, that's just the way it is.
  15. 1 point
    I decided to short JD Sports for the following reasons: 1) Long and overextended bull run with declining RSI peaks 2) Increased volume on second failed attempt to break high of 649 - buying pressure exhausted? 3) Increasing volume on descent 4) 10 day SMA below 50 day SMA and the curve of 50 SMA is flattening 5) Candlestick patterns - can see what looks like an inverted green hammer around June 6th and another hammer near 24th 6) Break of up trend line I am fairly sure the price won't break 649 but I set my stop a bit lower because of the risk/reward ratio. If it breaks my stop I would take the loss, wait to see if it breaks 649 and if it fails a third time I would go short again. Pleasingly, PRT confirms the support and resistance lines I had drawn myself previously on the HTML5 version.
  16. 1 point
    This is going to sound well out of left field........But Re; Bitcoin/Crypto. It is not a widely known secret, but the Banks want to rid us of Paperless money and go Digital across the globe. This will eventually lead to an RFID implant much like the digital chip in your ATM card. However, all of your info will be stored on your chip. Depending on what you believe re; info on the web, Conspiracy Theories etc., some liken this to the Mark of The ****. So, keeping this short for fear as coming across as a Loon, be careful what you invest in re: Bitcoin. We may all be inadvertently bringing in our very own Digital Slavery. We're already being spied on by Google/Facebook etc. GPS tagging, Permissions of Apps to access your phone. Once they control your Finances too, we're screwed. Some believe that Crypto is about freeing us from the Banks. It's not hard to see the other side of who might have came up with the idea in the 1st place. Will all this said, it's possible to assume that with the power of the Banks across the globe, then eventually Crypto WILL be the dominat currency. However, before it becomes standardised, the value in the future may well be squashed as it becomes more regulated. Happy Trading. I'll leave this here.
  17. 1 point
    @cryptotrader, comments are always contextual, in this case I was not commenting on Bitcoin pricing merely my view that it is being driven by speculation the likes of which occurs at the end of a boom cycle. The context is how this related to Silver, not Bitcoin per se. What I am suggesting is that Silver (and Gold) will go into a long term rally off the back of a collapse in that over exuberant speculation driven by greed, FOMO whatever (maybe Gold has already started, maybe not quite yet?). The back drop to this is central bank policy, which was originally put in place to kick start a failing economy but is now the drug that underpins the market. And people can't have it both ways on this. Either the economy is fine and so onwards and upwards or we need CB stimulus because it is not fine. The latter is the case in my assessment and at some point the market will realise all the stimulus in the world is not going to change the facts in the real economy and when that happens Silver will take off like a bullet as the spec boom/bubble/mania (delete as appropriate to each market) collapses. As regards you comments on Bitcoin, well I see you have opened another bitcoin thread so maybe I will answer (FWIW) there and keep this as a Silver discussion thread.
  18. 1 point
  19. 1 point
    Bitcoin hit $12303.10 overnight. It is currently at 5:00 am UK time up around 800 points and around 7%. It is trading around the $12200 level. It is reported that there around 10 days in the year that if you did not hold Bitcoin then you would miss its best performance. The last few days will surely be included in that idea. I think exceeding its all time high of $20k is on the cards. Not bad for a 'Bubble', 'Junk that is going to zero' or 'Garbage'. Bring on more Tulip Mania's. They provide the best opportunities for traders to make money. If they use leverage then the profit potential is huge.
  20. 1 point
    I'll check em out.but to be honest...........I win a lot....On the Demo
  21. 1 point
    Learn to recognise the difference between balanced and directional markets and stay out of when it's balanced. Balanced; Directional; 😉
  22. 1 point
    @dmedin I didn't even know they had one, must take a look. 👿
  23. 1 point
    Someone bought 50,000 shares on the market open (just under £300,000 worth), wonder what they know that we don't?
  24. 1 point
    @dmedin Maybe I should point out, if it's not a stop hunt it may signal a reversal so be sure to watch for that bounce don't be afraid to close out if you don't like what you see. 👿
  25. 1 point
    US indices sitting at the all time highs, probably the key print this week is the US GDP on Thursday q/q annualised and expected at 3.1% which is a very healthy figure, a big miss will really help Gold up.
  26. 1 point
    And wow, that monthly resistance line (purple) which is also the ATH is just right there, but it's likely very strong meaning a very strong push will be needed to carry the ball over and touch it down on the other side. In the meantime Dow checking the pivot from the underside and Dax looking to do the same. As ever, first looking to see who controls the pivot then looking for targets in that direction. Nb/ pivot levels taken from Friday's data not Sunday's. H1 charts;
  27. 1 point
    Litecoin still struggling to break free of $140 and surpass $150.
  28. 1 point
    Hi @WestGJ, I'm probably not the best person to answer but until someone better comes along, I don't remember anyone complaining of a shortage of Tesla shares to short but it has occasionally happened on other assets, there will be the pop up message this asset is 'unborrowable' meaning IG can't find a party to supply the shares to short. There doesn't seem to be any forward notice that this may happen. With regards to changing the margin requirements this has happened in the past but seems to be very rare, I can only recall one instance and the main complaint was that there was very little notice but if I recall correctly the change only applied to new positions being opened.
  29. 1 point
    You will suffer or be rewarded with a 100 points of slippage as @Foxy points out in the other thread. Looking on the bright side if war breaks out you are likely to gain so keep your fingers crossed 😳
  30. 1 point
    From my experience with the RSI indicator, once it gets back down to that 30's mark, it tends to then swing back up. The high volume sell off in that last volume stick and the price drop in the candle could indicate a move to a short position, personally i use the Parabolic SAR with the Macd as my indicators, havent done too much with the Fib charts. The problem i see with drawing your own lines on the chart is that you can make them any where you want to fit your narrative, which can screw your chart to suit your mind, not your trading plan, so i would be very careful with that. with out my normal indicators, im going to say its over sold from the RSI and it will move up not down, but i hope for your sake im wrong. Be interesting to see where it goes, hope u update it later.
  31. 1 point
    @dmedin, Change it!!! because theres a fault that you havent realised yet. Find yourself a trading partner, some one u trust, that you can bounce ideas off and discuss plans strategy, get them to read and go over your plan, maybe you missed something, a 2nd pair of eyes and a fresh brain might pick it up. I would have hoped that this sort of forum could be that trading partner, but maybe its too open, depends like myself sharing my Auto Trade Program im putting it out there for the experiment, but for some who are more sheltered 1 on 1 or a small group may be better. best of luck.
  32. 1 point
    A key metric for Lumber is the monthly US building permits which have held up well over 2019, see below;
  33. 1 point
    The list mention was posted in this thread not the Technical Analysis thread, here it is again.
  34. 1 point
    I was just making general comment rather than referring directly to your system, what you say is experienced by almost everyone at some stage. People think they should develope a 'feel for the thing' and once they get that all will be fine but the reality is that you need to expel emotions from the equation because they will always be inconsistent and it's the inconsistency that causes the failure. Having a playbook of rules means the on the spot decision making is excluded and is the only way to the constancy you need to succeed. A bit like programming an algo to trade for you.
  35. 1 point
    @nit2wynit, Those who rely on hope and luck are most likely to be gambling. If you can now look at 'odds and probability' and use this when making your trading decisions and always think have the 'odds and probability' increased in your favour and do they provide you with an 'edge' when making that final trading decision. This will really help you to move to the next level. When sifting through potential trades it will help you to fine tune which trades offer you a better or increased chance of success. Hint: Look at trend direction, trend strength, price action and volume as a start. Remember price action is king.
  36. 1 point
    Can't wait, not sure why you're being so conservative though 🙂
  37. 1 point
    EURUSD and GBPUSD may or may not yet be into a short retrace but EURGBP has retraced and hit the daily chart channel line with a failed test and rebound back down, as suggested in my previous post. This has, however, happened much faster and more sharply than I might have imagined and the price action gives me concern that another retest could be on the cards before the Bear gets going. Having said that a failed test on the Fib 50% is compelling. 2 scenarios then: another leg up to complete an A-B-C retrace with a failed retest of the channel line, maybe coincident with a retest of the Weekly Triangle line and the Fib 62%, seems compelling a drop through short term support to begin the Bear.
  38. 1 point
    Just a suggestion. Would be nice when looking at charts in an ISA account to see a visual indicator of the purchase date/s and price point on a chart, to make progress or lack of visually referable. Save on reliance on diary entries as to exactly when a stock was purchased. Would also be nice to see a 'Sold/Part Sold' indicator come up on the charts as well. Sticky so that if a stock is returned to at a later date the buy-sell history plot marks would be easily referable. Even if it only showed up on the Monthly chart view it would truly be a wonderful thing in my opinion. Thanks
  39. 1 point
    S&P tags the ATH. Daily chart;
  40. 1 point
    I do the same, but on a ten minute scale I invest in learning mostly, and Entrepreneurship. Though I may be a Short Term Day trader, this is my Long Term Goal. I'm 'In it to Win It'. It's in the Name lol. Not 'Nitwit' as @davidbrister thought. Still makes me chuckle David lol.
  41. 1 point
    There must be custom volume indicators in the code library? See this vid
  42. 1 point
    no, I can't recollect seeing that type of indicator before, a separate bar for buy and sell volume. A quick search only came up with this one which can be set to display the current bar. https://www.mql5.com/en/market/product/15939
  43. 1 point
    @JamesIG, I think with Spread Betting two main procedures can be applied for making meaningful profits. One is to use high margin on those assets which do not move a lot. The other is to use low margin or high margin based on those assets that do move a lot of points in a day. Obviously the higher the leverage the higher the margin requirement so it needs to considered on a risk/reward basis. It is all about how many points the asset has the potential to move. Of course your trade has to be in the correct direction and this is key. Which is why trading with the trend rather than against it is the only sensible approach when spread betting. Anything else is akin to gambling and increasing your risk of depleting your trading capital pretty quickly.
  44. 1 point
    One of the best market breadth indicators is Advance Decline which comes as either a line or ratio, see pic below.
  45. 1 point
    looking great "BOOM" !
  46. 1 point
    @dmedin, Yes that is right. Gold hit $1395.06 and Silver hit $1532.90. Both are showing aggressive and bullish upward price action. The margin requirements are attractive and it is times like this when for me personally it is worth trading Gold and Silver as there is a chance of making reasonable profits using leverage. When Gold and Silver are not moving like they are now then there tends to always be better trading opportunities and stronger trending assets elsewhere.
  47. 1 point
    When one looks at the 'Monthly'. 'Weekly' and 'Daily' then Gold is at a critical long term juncture in terms of price. It faces pretty strong resistance at the current price area. If it were to break out of this then it could be bullish for Gold. Silver is looking like it is trying to aggressively breakout. Now this could all be a short term reaction to the Fed announcement of not raising interest rates but no doubt this same scenario will rear its ugly head next month and the month after. I do not think Gold will crash whilst UK has not exited the EU or the US has not confirmed the US-China Trade position. These to uncertainty alone are enough to keep the Gold and Silver prices at around current levels.
  48. 1 point
    I'm not entirely sure what you're asking. £1 a point (where a point is anything to the left of the decimal place) = 100 shares on a UK listed equity. With DS Smith at 360p right now, if you traded £1 a point on SB you'd make or lose £1 if it went to either 359p (down) or 361p (up). This would have a notional value of £360, which is the same notional value if you bought 100 shares via a share dealing account. If the stock went up 10% on both the share account or the SB account, you share dealing position would be £36 in profit, whilst the SB would be 36 points up, at £1 a point is also £36. The difference is to open the share position would require £360 of cash, whilst the SB would only require £72 (assuming a 20% margin requirement). Furthermore SB is tax efficient Share dealing commission is £8 in and £8 out, whilst SB would be incorporated into the spread. Looking at this example right now, the spread is 0.36 points in and out, so 72p around trade as a 'cost'. SB has overnight funding costs to maintain the leverage trade.
  49. 1 point
    @mykig I agree that successful and profitable trading is about increase the odds and probability in your favour when making a trading decision. This is why I would not advise trading against the trend and to trade in the direction of the trend based on the timeframe you are using. People mistake odds and probability with gambling and though both are used in gambling what makes trading different is that you have both fundamental factors and technical factors. You have access to large amounts of data and you can conduct analysis and then make an informed decision.
  50. 1 point
    any ways thanks i am trying to keep consistently here so won't miss action lol😀