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Showing content with the highest reputation since 14/01/19 in all areas

  1. 3 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
  2. 3 points
    Indeed I have been sat here for a good many tears, I mean years. Did I get rich quick, no. I do treat it as a business though, a buying and selling business. So like all careers there is a lot of theory to be grounded in plus a lot of practical to get experience in. There is probably a whole years worth of course work in just learning how to spot and avoid the traps. I picked out an old Tom Dante quote which sums it up rather well, see below.
  3. 3 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.
  4. 2 points
    So you've got a strong feeling you know where the market is going to go, commentators have called it, signal services have signaled it, paid for pickers have picked it and you have been shouting it from the roof tops. It's a cert, what could possibly go wrong? Well everything actually. There's lots of talk about 'the smart money' banks, institutions, pension funds and the like but not much about the others side of the coin, 'the dumb money', why is that - it's because they just aren't influential to the market. The collective size of the dumb money is dwarfed by the big money to the point of being irrelevant. The smart money employ their own analysts and indicators and keep them closely guarded, everything you find on the internet is directed at one group only and it's not the smart money. So no matter how correlated and confluenced everything you find on the internet may be the dumb money as a group are still unable to move the market. So all the power lies with the smart money and they are only interested in battles amongst themselves and are certainly not listening to your commentators or signalers or your pickers or to you. So why bother with any of it? Because you are needing guidance, why? Because you can't actually predict what the smart money is going to do. The solution is obvious, don't even try to predict. Watch the smart money battle it out over a significant level, when the battle is over the loser will retreat back to the next significant level while the winner marches on to the same. Your job is to follow in their footsteps. Predictions have nothing to do with it. Occasionally spontaneous battles will break out on new news, fine, the rules are the same, don't guess, wait and be ready to move once the winner becomes obvious. On all dumb money forums (all forums) you will always find some making their predictions, listen at your own risk, when they are wrong 50% of the time you can be sure of excuses and disclaimers.
  5. 2 points
    Nothing much going on with Gold/Silver, the anticipated consolidation period continues. The competing drivers of USD and Stocks/Bonds movements may be neutralising clear direction for now but in anycase, regardless of the cause, the price action is flat. I see 2 possible routes out, both ending in an upward trajectory: a simple breakout rally that takes us up towards the big picture H&S neckline a retrace to close the price gap before that same rally My longer term projects remains unchanged, once we complete a strong wave 1 we should see a retrace wave 2 to set up a big rally, which ought to coincide with the Stocks Bear resumption. In this I am supposing that the main driver for gold becomes firmly a safe haven value store rather than a USD currency cross.
  6. 2 points
    Hey all - we have a couple interactive infographics on Brexit and Trumps trade wars which may be of interest to those on Community. You can check them out below. All feedback welcome Brexit timeline Trumps trade wars
  7. 2 points
    My stop loss was triggered on my short Natural Gas trade. I made near enough 1000 points. I am out. Carbon Emissions is looking like a potential short trade though it could just as easily pop upwards so a very tricky trade to enter at this period in my opinion. Natural Gas has risen sharply due to the longer than expected cold weather to remain in the US so there is a fundamental backdrop which has created the price action today. When fundamentals meet technicals it can create wonderful trends. The question is whether it is worth now considering a 'long' Natural Gas trade? Natural Gas has gone above its 20 DMA and is moving upward towards it 100 DMA. Around the 3800 price level would see it hit its 50 DMA. What is interesting is that it has gone above its 200 DMA. The MA curves are sloping sideways to downwards so I personally would not enter the 'long' Natural Gas trade but short term traders and more speculative traders may consider it as well as the more aggressive day traders and shorter term trend followers.
  8. 2 points
    didn't think this required its own thread, but thought it was interesting. Saw it on reddit today. "In the 1640's the Dutch inhabitants of New Amsterdam built a 12' wall to keep the bad hombres out. In 1664 the British ignored the wall and took New Amsterdam by sea. It's now called New York. They took down the wall and built a street. It's called Wall Street" also, If you visit the street there is still a piece of the original wall in the ground. and then some non-finance related dutch/NYC facts : Coney Island = Conyne Eyland, meaning rabbit island (Konijn Eiland in modern Dutch). Staten Island = named in honor of the Staten-Generaal, a government body. Nassau = Name of the royal Dutch house (think "Windsor"). Brooklyn = Breukelen in province Utrecht. Harlem = Haarlem in Noord-Holland. Rhode Island = Roode Eylandt (red island in Dutch). Yankees = the common first names of Dutch men, "Jan" and "Kees" slurred together. Yell that at any Dutchman and you were likely to guess his name. ...thus concludes our history lesson for the day
  9. 2 points
    It's taken me over a year of demo account trading to "perfect" a strategy that is proving profitable on a weekly basis... I'm in this for the long run, so really no rush to get into the markets, but I think I am just about ready to enter the "real world". One of the major lessons I learnt over the year (beyond what has already been mentioned above), PATIENCE! Literally sitting watching the ticker for the right time to enter the trade has been key, you may miss a trade or two, but in the long run its pays to see confirmation in trend before taking on the risk. Oh, and when I say a year, I mean literally every day of the week for a minimum of 2 hours (excluding videos on yourtube, audio books, reading about trading etc).
  10. 2 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.
  11. 1 point
    The US 500 which is the (S&P 500) is an attractive potential shorting opportunity. As many of you know I like to be as open and transparent as possible. I like to keep things simple and really add significant value to the IG Community with real live trades. I have today opened a short position on the US 500 at 2506.91 via IG's Spread Betting platform. I should get daily credit interest as well - 😉 Why did I pick this to short ahead of the other indices? Well first of all it has lower margin requirements than other indices. This is extremely important when one is adding to short positions as the price continues to move downwards thus trying to maximise profits. Also the trends seem similar when comparing it to the Dow so why use up extra capital on margin requirements? Again I am sharing some of my live trades with the IG Community and will share my views, thinking and rationale behind any decisions. I will not hide behind complex analysis and complex theory that many may find difficult to follow or understand.
  12. 1 point
    emerging pattern - possible inverse H & S
  13. 1 point
    Theresa May's government holds onto power, winning a no-confidence vote in parliament last night by 325 votes to 306. The Prime Minister has now set out to reach a cross-party solution for Brexit, although this will be extremely difficult as the PM was snubbed by the leader of the opposition last night saying that she is in charge of a "zombie government". Sterling remained steady as the currency traded around the 1.2875 mark against the dollar after, as expected, Mrs May's government won the vote of no-confidence. US equities closed higher on Wednesday after strong quarterly earnings by Bank of America and Goldman. The S&P 500 rose by 0.2% whilst the Dow increased by 140 points, both driven by the financial sector. The Nasdaq followed and increased by 0.15%. Stock markets in Asia were mixed as concerns continue over rising tensions between the US and China. Japan's Topix gained 0.4% at the close, followed by the MSCI Asia Pacific Index which added 0.1%. On the other side of this, the Shanghai Composite and the Hang Seng both slid by 0.1%. Oil slipped 0.5% down to near $52 per barrel as the US reach record output levels, counter-acting the signs of shrinking supply by OPEC+. Gold traded slightly lower at $1,291.65 per ounce. UK, US and Europe: Calls from the opposition and some leading Brexiteers for the Prime Minister to resign seems to have fallen on deaf ears. Last night, Theresa May's government survived a vote of no confidence tabled by Jeremy Corbyn, winning the vote by 325 to 306. It's unclear what is going to happen next in these extraordinary circumstances. Mrs May will seek further concessions from the EU in an attempt to get her 'Plan B' deal through the House of Commons, which the PM must layout to parliament next week. Looking ahead, earnings season continues with Netflix, Morgan Stanley and Taiwan Semiconductor posting results later today. It's unclear what is going to happen next in these extraordinary circumstances... South Africa: Last night saw US markets trading in positive territory led by gains within the banking sector after The Bank Of America reported better than expected earnings. Asian markets and US Index futures are however trading lower this morning tempering the previous days gains somewhat. Last night saw British Prime Minister Theresa May surviving a vote of no confidence in parliament, helping restore some stability in the British Pound. Oil and precious metal prices are trading modestly lower this morning, while base metals are trading positive on the day. Tencent Holdings is up 0.8% in Australia, suggestive of a similar start for major holding company Naspers. BHP Billiton is down 0.2% in Australia suggestive of a slightly weaker start for locally listed diversified resource counters. The South African Reserve Bank (SARB) concludes its monetary policy meeting today where no change in lending rates is the expected outcome. Economic calendar - key events and forecast (times in GMT) Source: Daily FX Economic Calendar Corporate News, Upgrades and Downgrades Primark announce this morning that like-for-like sales fell in the 16 weeks to the 5th of January caused by reduced footfall during November, according to the retailer. Fiserv is set to acquire payment processor First Data in a deal worth $22 billion in one of the largest deals we have seen in the financial technology industry. Bank of America shares soared by 7% yesterday after quarterly profit reached a record level of $7.3 billion. Goldman Sachs also beat expectations yesterday as earnings per share reached $6.05, beating estimates of $4.53, and posting revenue of $8.08 billion for the quarter. In a statement, CEO David Solomon said "We are pleased with our performance for the year, achieving strong top and bottom line results despite a challenging backdrop for our market-making businesses in the second half". Asset manager firm BlackRock profits fell short of expectations as the company's assets under management has fallen 5% over the last 12 months down to $5.98 trillion. IGTV featured video Information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
  14. 1 point
    Do nothing in general @cryptotrader since Christmas but on FX IF I see the market continuing to follow my road map scenario I will look to add to my Longs on a rally away from the current ST area of congestion as in this scenario I would expect a decent rally to either a wave A or all the way to the retrace turn, which could be a good skip of points. Obviously if the reverse happens I would need to reassess. US stocks are rapidly approach the Fib 50% area, which may offer a Shorting opportunity if we see appropriate price action. Because I cannot tell yet if this is just a Wave A or the end of the relief rally I have to consider taking a position early and then wait to see how the price action progresses, otherwise I would get left behind. So for me the time to do nothing may now be coming to an end IF we see a break down in the Stocks rally and a breakout rally on EURUSD and GBPUSD.
  15. 1 point
    Ok that was weird @cryptotrader! I was just about to post this as I got your tag... I haven't had much to say because there hasn't been much change since Christmas. Across the patch things are proceeding as expected: USD down; Oil up; Gold/Silver flat; Stocks edging up to a wave A. As a long term trader rather than a day trader, often good trading is doing nothing, just letting your positions run; managing risk and watching for the next activation zone for exit and fresh entry. For the record, I am long GBP, EUR, Oil (counter trend) and Gold (long term) and still Short Stocks (from November long term not currently) and Short EURGBP (long term). Regarding GBPUSD, I am not really interested in lasts nights Westminster pantomime, those MPs are detached from the electorate in a way that we have not see such evidence of for a long long time. The deal was bad but that was to be expected when dealing with an organisation as Byzantine as the EU. The PM is in a no win situation: take the deal on offer or come back with no deal, either way she is painted as inept by the opposition. The panto will continue up to the point the UK leaves with no deal, which will not be the disaster people are making it out to be. Anyway so much for the back drop, in such situations, when it is impossible to tell how markets will react, I stick firmly to technical analysis. For me the vote yesterday didn't cause any change in my assessment. Sure there was a bit of nonsensical intraday volatility but GBP ended up almost exactly where it started. If fact yesterdays price action took price back down through my Daily chart Triangle channel line and back up above it in a bullish pin bar form. On the Weekly Chart you can see that the days movements are not special. So the board is still set fair for the retrace to proceed in my opinion. For the avoidance of doubt, my road map arrows are indicative as the counter trend rally could trace many different routes but the basic premise of my position is that the market will sketch out a significant retrace rally, in an A-B-C form until the Bear takes hold with a vengeance. As a swing trader I will seek to take advantage of this but as a long term trader my eye is firmly fixed on identifying when the Bear resumes as this is the bigger, and safer, bet.
  16. 1 point
    Hi Demedin, I wouldn't give up, but taking the advice of someone who has made all your mistakes might help. I understand the confusion which is out there, all you have to do is type 'forex' into a search engine and you will forever be bombarded with Jeff Bishop videos and Tim Syke's next big thing. I would recommend to filter out all of that noise. Ask yourself what time frame you want to trade or are able to trade. Find a guru whom you think might teach you to trade that time frame. Do not think that they are all charlatans, although many of them are (probably 81%), there are some earnest educators out there who can condense all the stuff you can find for free and apply it to a strategy. Stick to your strategy and focus on becoming a good trader, get your trading right. In my limited experience, making a fast fortune is massively unlikely, unless you have one to start with.
  17. 1 point
    this is a tax question. For presenting to the TAX department I want to get a 'TAX statement' showing total profit/loss. How can I get this statement?
  18. 1 point
    Dow and Nikkei take a peek over the parapet, Dax and Ftse looking on curiously, could shape up to being a strong up day, let's see.
  19. 1 point
    Asian stocks fell as China's export data indicated a shock contraction, declining by 7.6% since July 2016. This points to deepening cracks in the world's second largest economy and increased fears of a significant slowdown in global growth and businesses. The CSI 300 was down 0.8%, falling from a 3 week high reached on Friday. The Hang Seng slipped 1.4% as both the financial and technology sectors took a hit. US equities ended Friday with marginal losses, however the S&P 500 maintained a weekly gain of 2.5%. The US Dollar Index was 0.1% lower after reaching a 3 month low last week, whilst the safe-haven Yen was 0.4% stronger at 108.09 to the dollar. The Australian dollar, sometimes viewed as a proxy for China's economic outlook, was down 0.4%. Oil prices also took a hit following disappointing China trade figures - one of the largest global importers of oil. Both Brent Crude and WTI was down 1.1%, at $59.83 and $51.03 a barrel respectively. Gold edged 0.3% higher to reach $1,290. With tomorrow’s UK parliamentary Brexit vote looming large, there is also likely to be some positioning ahead of that momentous occasion. Asian overnight: A bearish overnight session saw losses across China, Hong Kong and Australia, while the Japanese markets were closed to observe a bank holiday. Today is all about the Chinese trade data, with both imports and exports deteriorating sharply in December. However, with imports falling -7.6%, while exports hit -4.4%, the overall balance actually shifted further into surplus despite the disappointing figures. Interestingly, despite the imposition of tariffs on Chinese goods, the Chinese surplus has grown significantly, hitting the highest level since records began in 2006. UK, US and Europe: Theresa May is set to warn Eurosceptic MPs today that Brexit could be blocked by parliament if they fail to give their backing in tomorrow's historic "meaningful vote" on the withdrawal agreement. The agreement is strongly opposed by certain Conservative MPs due to the plan for a backstop to avoid a hard Irish border that involves the UK being in a customs union with the EU. Looking ahead, keep an eye out for eurozone industrial production in the morning, with precious few notable releases other than that. With tomorrow’s UK parliamentary Brexit vote looming large, there is also likely to be some positioning ahead of that momentous occasion. South Africa: Global markets are trading mostly weaker this morning with US Index futures down 0.81% and the Shanghai Composite down 0.78% today so far. Markets are trading cautiously ahead of US bank earnings releases this week as well as the all important parlimentary Brexit vote on Wednesday. Gold is trading 0.4% higher this morning while brent crude is 1.1% lower today. The rand has managed to maintain some short term strength having stabilised below the R14/$ mark. Tencent Holdings is down 2.9% in Asia, suggestive of a similar star for major holding company Naspers. BHP Billiton is down 0.25% in Australia, suggestive of a flat to softer start for local diversified resource counters. Economic calendar - key events and forecast (times in GMT) Source: Daily FX Economic Calendar 1.30pm – US trade balance (November): deficit to narrow to $54 billion. Market to watch: USD crosses 3pm – US new home sales (November): forecast to rise 2.9% MoM from an 8.9% fall a month earlier. Markets to watch: US indices, USD crosses Corporate News, Upgrades and Downgrades PageGroup expects annual performance to be in line with forecasts, as gross profit for the final three months of the year rose 15.4%, allowing gross profit for the full-year to rise 15.9% to £815 million. Restore said that it forecasts annual results to be in line with expectations, as strong trading in the records management division offsets weakness in the shredding unit. JD Sports expects profits to be at the upper end of forecasts, as weak growth in the UK is offset by a better performance by its international division. Like-for-like sales rose 5% for the cumulative 48 week period to 5 January. Michelmersh Brick said that it expects annual underlying revenue and profit to meet market expectations. Year-end debt will also be below forecasts due to strong cash generation. Brooks Macdonald upgraded to buy at Shore Capital Safilo upgraded to neutral at Mediobanca SpA Engie upgraded to buy at Berenberg Mowi upgraded to buy at Fearnley 3i Infra downgraded to hold at Jefferies Countryside cut to underweight at JPMorgan Heineken cut to underweight at Morgan Stanley Next downgraded to underperform at Credit Suisse IGTV featured video Information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
  20. 1 point
    Hi @xhwu, have a look at this thread on screeners may give some ideas. (click on the arrow)
  21. 1 point
    @AbDXB1345, You will not have perfected a strategy. Trust me. Even the professionals do not have a perfect strategy. What you possibly may have is an effective strategy based on your level of risk and money management. The demo account is one thing but trading in the real markets is a different beast altogether which I am sure you are about to experience. If someone said to me that your trading strategy would make a profit every single week or a trading strategy that would make a profit some weeks but losses on some weeks then which trading strategy would you select? Now if in the second example the profits far exceeded the losses and those profits were greater than the first strategy, now which would you pick? The point I am trying to make is that making losses is part of trading. One must accept them. Of course one wants to minimise those losses but they are part of trading.
  22. 1 point
  23. 1 point
    It took me a while to become ultimately profitable.
  24. 1 point
    unfortunately we do not offer a demo share dealing account. You can however open a share dealing account and there is no administrative fee to opening or maintaining the account with no funds in it, and there is no obligation to deposit. It may still be worth checking out.
  25. 0 points
    So where am I with this live trade at the moment? The current performance update is below: Short opened on 20/12/2018 at 13:30 is down 66 points. The trade is just hanging in there. Daily charges are being incurred so any further rally will see my stop loss triggered and I shall be out of the trade. If the price continues to move downwards like it seems to be then the trade will remain open though I may manually intervene should the trend not be strong enough or begin to lose momentum. My experience tells me that the recent bottom should/could be revisited and tested but IG's daily charges make it difficult to hold such a position and also there is no guarantee (high probability) of that at this stage. I am keeping close eyes on this trade and I may need to manually intervene and exit should the downtrend not continue strongly. There is no justification of paying daily charges when the trend is not strong enough in the direction of my trade. When the US markers open this afternoon (UK time) it should be interesting.
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