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Showing content with the highest reputation since 30/05/19 in all areas

  1. 17 points
    Both through the web platform and ProRealTime... I cannot close out an open position on US500... IG are you going to refund any money lost because of your techincal error?
  2. 9 points
    One of my open positions have disappeared form the positions tab. I had a total of 5 open positions, the number beside the positions tab says 4. There are only 4 positions displayed. However the account totals row in the bottom is behaving like the last position is still there, the total positions sum takes into account all 5 open positions, likewise with the market value and profit/loss columns.
  3. 9 points
    Hi - facing a new issue on the platform. My charts are being wiped out and set to the same default every few minutes/seconds. No matter what I configure, within a few moments it defaults to a 5min candle stick with no other indicators - what is happening?
  4. 8 points
    I am Not able to see open positions. The customer hotline is also not working. What is the issue. Rectify ASAP.
  5. 7 points
    Don't fall for it. Don't try and catch a falling knife. Manage your risk - use stops and guaranteed stops for the love of god if you're looking to hold stocks over night or ANYTHING over the weekend. If you're in to intraday trading think about options (my thing of late - check post history if you want) which manage risk when buying and stop you chasing losses. Get those alerts and notifications set up on your phone. Diversify a portfolio with some defensive stuff as well. Read read read read read the news people. Take a step back. Think about it. Actively say you're going to cut the emotion. ONLY THEN make your trade. Never risk more than you could lose. Any other things which would help? Lets share over this economic mardi gras...
  6. 7 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
  7. 6 points
    Hi IG, Any plans to become a supported broker on Tradingview? I like the IG web platform but Tradingview stock screener is great and would be nice to trade from there. https://uk.tradingview.com/brokers/
  8. 6 points
    Righto, having used this web platform every day for the past year it decides to go mad. Really important trading day... every 30 seconds or so, every bleedin' drawing I've made, adjustment to chart, timeframe etc all resets back to a default 5min and deletes all drawings WHAT IS GOING ON!!
  9. 5 points
    Web app and mobile apps are not working in the middle of the trading day! This is precious money making time but IG is making it going bankrupt time!
  10. 5 points
    The same thing happened to me after the scheduled maintenance today. I'm missing seven positions! The sum total seems correct. I've just shot an email to the helpdesk. I'm assuming they're going to be receiving a lot of these emails, and I sure hope they get this fixed pronto.
  11. 5 points
    Hi, wonder if could offer a bit of friendly advice? It seems to me that you could really do with introducing some urgent risk management into your trading. Monitoring large positions is essential, as is learning how to cut losses, not adding to positions that are already seriously in the red. Can highly recommend a book by Mark Douglas called 'The Disciplined Trader' - it's a great read and could help give you the mindset to protect your capital in future and avoid these kinds of situations arising. IG will give margin calls as appropriate, but are under no obligation to notify you that your portfolio is being decimated as you put it. Really sorry that you're so badly under water...but learning to cut losses quickly is the best way to avoid serious losses (and significant overnight funding charges).
  12. 5 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.
  13. 4 points
    To make your trading plan and trade strategy just answer these questions then move on to the testing section below. 1/ TRADING PLAN a) System What type of trader will I be? Swing, trend trader, trend follower, day trader, Elliot Wave, Fibonacci, option trader, another, or a combination? What time frame will I be trading on? What will I be trading? Will I trade long or short or both? What has to happen to invalidate my trading system and make me look for flaws in my thinking? b) Psychology How big of a position size can I mentally and emotionally handle trading? Does my chosen trading method fit my personality for activity and risk tolerance? Do I actually enjoy trading? Do I have the mental strength to persevere until successful in trading? c) Risk How much of my trading capital will I risk per trade? How many losses in a row with this level of risk will lead to blowing up my trading account? How much will I lose at one time if all my open positions go against me at the same time? How correlated with each other are all your open positions and your potential trading vehicles that are on your watch list? 2/ TRADING STRATEGY What signals my entry? What will signal my exit? Where will the initial stop loss go? Do I use a trailing stop or a price target to lock in profits? What is the probability of my trade working out based on historical data? (see testing below). STRATEGY TESTING Ok, so you've discovered that a random approach doesn't work so you've found a strategy but you'll have no confidence to trade with real money until you've proved to yourself it actually works and that means testing and collecting data over a number of trades on demo first. The simplest data to collect are the win rate and the average risk/reward ratio of say 20 demo trades, you can then plot these onto a profitability graph to see if the strategy actually works before you risk real money. To collect the trade data you will need a simple spread sheet, try this one https://forums.babypips.com/t/free-excel-trading-journal/52738 Just fill in these 9 green boxes for excel to auto calc the Win rate and the average Risk/Reward Ratio. The date is by drop down box as is the asset, you can change the list of assets to whatever on the 'List Variables' tab. Use the Take Profit as the exit price even if it's a loss and leave the Exit Price column blank. Take the Win Rate and the Average RRR and plot them on the graph, anywhere above the red line is profitable, below the line is not. NB/ The journal works fine on windows excel but if opening it in Windows 10 OpenOffice you will get the 'invalid entry' pop up for columns G,H, and I, click on the letter to highlight (G, H & I) > data > validity and uncheck the 'show error message'. OpenOffice has also allocated the currency dropdown box for G, H & I so just ignore. So now you have a trading plan, that probably won't change much unless your circumstances change, and you also have a trading strategy to bolt onto the plan, you may have 2 or 3 of them, say a buy the dip strategy and a breakout strategy, and you also have a means to test that strategy on demo to gauge if it really does have a chance of working out on a live account. You may go through a number of strategies or make changes and retest again and again before finding something to test on a live account but at least you're not losing real money to find out if it really works or not because if it doesn't work on demo it won't work live. Best of Luck
  14. 4 points
    It really is unacceptable. I’ve been trading with IG for 4-5 years and experienced various outages and frustrations with the stability of the platform, typically at the most inconvenient of times. However, these outages in the last 24 hours are serious. Calling to deal doesn’t help when market volatile.
  15. 4 points
    Trading app is very unstable. Could not see my open position. Can't close my position. Same thing happen 12 hrs ago. Please rectify it asap. I need to close some position.....this is terrible. Will you bear if there are losses.
  16. 4 points
    is there a reason I'm still getting charged commsion even though I'm making 3 trades a month?
  17. 4 points
    Hi MAKTRADER6970, I puzzled by this as well. You're right this is not how options really work. I trade options all the time in the US and make money by selling calls on shares I own and selling puts on shares I want to buy. When you sell you should get the premium immediately the option is sold. J_Bernard appears to be correct. We're not buying and selling options just betting on the option prices. You can't use them sensibly or profitably, so I think we should not bother with them. It appears to me CFDs and spread betting is just that - gambling where the broker wins every time.
  18. 4 points
    Trading FX these are the sort of indicators you need, matching what is currently strong vs what is weak, not stuff on patterns and macd, rsi or whatever. The first pic is from Nov and out of date but the second is of yesterday, maybe I should include something like this in the daily dashboard? Vote a like for yes or a sad for don't bother.
  19. 4 points
    Thanks for the responses guys. As I phoned them to discuss the situation I had a voicemail from my account manager cancelling the trade as they suspected it was a mistake. Great service 👍
  20. 4 points
    The ability to have two separate instances of two different trading platforms in two different tabs of my browser. Right now if I navigate to the new share dealing platform in one tab, my spread betting account in the other tab automatically redirects to the new share dealing platform also. Totally unnecessary.
  21. 4 points
    they never really advertise it but think its worth noting
  22. 4 points
    Hey Guys, I’m glad to announce I will be your new community point of contact. I'm taking over from @JamesIG. I have worked at IG for four years on our trading floor but have moved to manage the community. It will be great to hear any feedback you have for IG and I will happily push these idea to our developers. Do make sure if you need anything answered to @ me and I will respond as soon as possible. Thanks, Charlotte 😊
  23. 4 points
    Hihi, 30pt spread on weekend cable is fixed. We're looking at reducing if feasible / volatility permitting (for reference, narrowest indicative prices we saw from 1900 Sunday were 50 pts wide). How much of a factor in deciding whether to trade on the weekend is spread, what would you see as attractive to trade? Regarding true 24/7 trading - it's very difficult. We keep having to trade off between release time & platform up time - unfortunately trading hours aren't likely to increase soon. Only silver lining is that usually the 2200-0400 period is very quiet in terms of macro events. Open to any other feedback re. weekend markets. Thanks, Ludwik
  24. 4 points
    Here some of my thoughts on the importance of ATR (Average True Range) in Day Trading. Here's my thought process: In order to make profit you need volatility Volatility is the change in price of an asset over time As day traders we're interested in volatility per day To measure this I take the true range over one day, which is effectively the high of day minus the low of day and take the average of that over 200 periods If we assume we only take one position on a given day, in theory the max profit I get is when I buy exactly at low of day and sell exactly at high of day (or short-sell at high of day and cover at low of day) I need to subtract the spread from this max profit The margin factor requirements from IG define how much I actually can make in terms of £. Higher margin factor means lower qty to trade with, means lower profit, even if Average True Range is high I pulled some data today to find assets which fulfil requirements below low spread low margin requirements high average true range I looked into Indices, Crypto, Metals, Currencies, Commodities and Shares. I didn't fully automate the queries, so just pulled some snapshot data in the below. There might be some nuggets I missed, if you spot any, please let me know. (All profit calculations are based on a hypothetical £10k account - for larger accounts things may look differently because the margin factor rises in tiers for large accounts) Indices IG has a few indices at 5% margin factor, which outperform the rest. Only exception is Australia 200 which is hanging behind the China 300, while the latter has 10% margin factor. Most profitable ones to trade would be NASDAQ, NIKKEI and DAX. Interesting finding for me as currently trading the FTSE 100. Might give NASDAQ a try. Crypto Perform worse than Indices, because of 50% margin factor. ATR is much higher compared to Indices though, so if IG lowers the margin factor at any time in the future, these may become interesting. Metals Nickel and Spot Gold seem to do well. Gold because it only has 5% margin factor. Nickel because it has a large ATR of 2.8%. Currencies There are only few currency pairs which have a margin factor of 3.33% and a few more with 5%. Those perform better than the rest with 10%. ATR is relatively low here. Best ones I could find are GBP pairs like GBP/JPY, GBP/ZAR and GBP/CHF. Might be related to Brexit and high volatility in GBP at the moment? Commodities Surprisingly perform relatively well. Carbon Emissions, Natural Gas and US Crude at the top spots. 10% margin factor with relatively high ATR of around 3% I might give those a try. Shares Now shares are a little bit different to the rest, because they can be very volatile at times and don't move at all at other times. The best bet might be to find shares which were recently falling sharply aka trading well below 200 EMA. IG then increases the margin factor, but that might take some time. So if you find a stock which recently fell sharply and you can get in before IG increases margin factor you have insane profit % of 50%+ like Metro Bank and Kier Group in the below. Difficulty here is that the True Range has huge swings itself and you need to time it right to get on a big move. That's why I'm sticking with Indices at the moment. So, if we ignore shares for a moment, the top 3 assets to day trade according to this theory would be: 1) Carbon Emissions 2) US Tech 100 3) Natural Gas What do you think about this approach? Does it make any sense? Commodities seem to be doing well in this approach - has anyone in here experience trading them? (US Crude and Iron Ore would be place 4 and 5 - that makes 4 out of the overall top 5 being commodities and 1 Index)
  25. 4 points
    Hi there. In my first year I lost money; a genuine massacre. But I did not give-up, as I am quite resilient and kept going in trading and losing money again and again in the second and the third year. Until the forth year, where I reached the break-even. Now I am constantly and largely profitable, quarter after quarter, since last 4 years. I learnt how to trade the hard way. It is quite a common path, I discovered later reading the Market Wizards - a book I suggest you read - a collection of interviews done by Jack Schwager to a group of worldwide top traders. So funny to discover I was not alone having burnt my account at the beginning of my trading experience. The game is complex and lots of things influence your performance, including your emotions when you see the P&L in deep red. For that, it was very helpful to me to discover my limits: how much money I can afford to lose without losing my emotional control, sleeping hours or my temper - I also had moment where I was unpleasant with my family. But this is not acceptable, as you wrote. How much money can I lose without caring? 50 pounds? 500 pounds? 5000 pounds? 50000? It is all personal and you need to ask yourself what is your limit, as this should size your trade. At the end It is a game of probabilities and the more you trade the more you have opportunities to finalize your trading strategy/strategies, selecting only the ones with high probability of success. But nobody is right 100% and some of then will go wrong. Also for the suggestions given by Trade of the weeks: no discounts for anybody. But listen: the market is not fake and nobody is conspiring against you or anybody. Don't take this perspective to quit. There are retail traders (like me) that are constantly making profit. The break-even is an outstanding results, as you are - at this point - on the top quartile. Learning when not to trade also improved my performance a lot - as you cannot lose when all your positions are closed. As we speak, I am out of all markets and this is average 70% of the time. I take a trade only when all the homework is signalling high probability of success and from the past I scaled down from 20 trades a week to approx 2 or 3. Or sometimes zero. For every single trade I also write a lot, in my trading journal. Not just the pre-analysis, why I have selected the trade, the overall risk assessment and the related stop, the target price, all the multi-frame chart analysis . But also I record what happens during the trade: I write how the market is moving, the intensity of waves. And I also record my level of emotional reaction during the trade: from 1 to 10 I want to know if the trade was completely emotional agnostic or if I lost my sleeping. At the end, you need to be a Marine soldier studying every centimeter of the the battle field, to survive. Including you. Keep going with just 1 pip per trade - small money, but real trades. Don't give up. Improve your strategy, record your performance and try to understand when and why you have been successful or not. One day you will reach the profitability. Good luck.
  26. 3 points
    Same here. Cannot close position. It's now -6k. It was +2k when trying to close it I have taken video and screenshot.
  27. 3 points
    Hi all, I'm using the online IG platform and one thing which is greatly missing is... TICKERS!! How come a trading platform don't have tickers?! PRT and all trading platforms on the market have tickers. Traders speaks with tickers, not company names. So please could you add tickers ASAP (as soon as possible)... you see TICKER!! I need SPY, I need AAPL, I need NVDA, MSFT and so on. And I'm sure I speak for everyone else. I've searched on platform options, forums, etc and couldn't find anything about tickers. So if there is a way to have tickers could you tell me where to allow the option. And if not, could you ask your technical team to allow them quickly? I agree I could use PRT as there are tickers on theirs but there are things that I don't like, like it doesn't show the amount of money used from balance when purchasing a stock unlike IG platform, so you go a bit blindly and i don't like that. Thanks and sorry for the rant but needed to say it. Cheers!
  28. 3 points
    I queried this via IG support chat before opening my ISA. I was advised the custody fee would only be applied once for both Share Dealing and ISA and only then if a minimum of 3 trades were not made in the previous quarter (in either account or in a combination of the two). A dealing account with zero holdings would not incur a custody charge anyway, as it's a fee for holding custody of shares, rather than an account management or inactivity fee. In a similar way, 3 trades made in my dealing account in March entitled me to the £3 UK commission rate and free US dealing in my ISA account from the moment I opened it on 6 April. Hope that helps.
  29. 3 points
    Wow Guest, you're right, just checked out their real-time spreads, and they have tight spreads.. ..well, the same spreads as IG used to have. Now IG is 4-10 times more expensive on DAX, depending on what day you compare with. I'm going to create an account on Core Spreads now, and see how long it will take before I can move over there. I like IG's free ProRealTime platform, but I can move over to MT4 if push comes to shove! --- Caseynotes - Yes, I could trade the monthly time frame too, but I'd rather do that on Core Spreads with a 5th the spread:).. I think IG just lost me as a client. Regards, Molibar
  30. 3 points
    Why are you using the cash market at all? For holding trades open longer than a week you should be using the cfd futures market instead, no overnight interest charges just a slightly higher spread repaid every 3 months on rollover if keeping the position open for the very long term.
  31. 3 points
    I've been trying to set a trailing stop on some shares however the online help shows options that aren't appearing on my order ticket. Namely drop down options to set different types of stop. Are guaranteed and trailing stops only available on CFD accounts or am I missing something??
  32. 3 points
    Also here which is interesting https://www.ig.com/uk/special-reports/best-trading-books
  33. 3 points
    When the dust settle down..ig better take a good hard look at its resources. It's obvious that they are inadequate...both hardware...n personnel. Why bother to keep increasing the number of clients and take pride in the number of clients and markets served when during crisis like this...they are unable to handle.... As a service provider...it is during times like this ...how they handle the situation...and address customers' problems that will either make or break its reputation. People are not interested in how you handle during peace time..that will usually take care of itself...the real test comes during a crisis...thats when it will show faultlines..and weaknesses and thats when reputation are made or break. Do take heed. Please dont let your reputation build up over the years go down the drain. The nature of your business is not much difference from other brokers... a slight hiccups may cause you to lose clients to other brokers unwittingly.
  34. 3 points
    must admit it is getting a bit hot and sticky in here 😳
  35. 3 points
    Step 1 - buy daily puts at the start of the session 1% out the money (basically above the line on the platform) step 2 - profit *nb: vast over valuation of stocks required and exponential growth on nCoV deadly virus V useful discuss....
  36. 3 points
    Hi, Logged in this morning and all my drawings/indicators etc are gone. The screen has reset to the 5 minute chart with no indicators or drawings. Is there a way to get them back? I put a lot of time into these. Thanks James
  37. 3 points
    fair go, the failure to break through the blue rectangle was crucial for further downside. Now looking for resistance (sellers to step back in) and the most likely area is just before the red 29400 defending their initial stops.
  38. 3 points
    It's the opposite, I don't think I'm cut out for day trading. I still would have been better off keeping a position open from Christmas, even now. I zoomed out to the day chart and the overall picture was so much clearer than when looking at the hourly. (Although you could argue that the up-and-down nature of the hourly was actually evidence of a correction taking place - so always best to start longer-term and 'zoom in' if you're so inclined.)
  39. 3 points
    When looking at these markets and the trading behaviour of the average retail trader it seems to me that many don't really understand the market they are trading, there are also psychological factors that influence decision making to the detriment of trading success. If you are not confident in your understanding of the market then you are solely dependent on technical analysis but TA is not a given, it can only play out if assisted by fundamental and macro factors, those factors currently point to bull continuation. So the US major indices are routinely hitting new all time highs, the retail trader thinks they need to sell the high in order to buy back lower (buy low sell high right) so the retail trader (the crowd) are constantly trying to pick the tops (and patting themselves on the back thinking they are being contrarian). The positioning data of IG clients tell us this is exactly what's happening. Every time price goes higher the sell position ratio increases, when price is falling in a down trend the buy position ratios go higher. So clearly this is all wrong, when price is continually rising you need to buy high and sell higher. You buy breakouts or pullbacks, you should not be looking to sell a bull trending market at all. So why do they do it? The market is too high (no it's not), it must be the bears turn (wait and see first), but I need to sell the highs, the saying says so (no, you're not an investor), the chart is looking 'toppy' (just no), the TA is pointing down (doesn't matter without fundy and macro assist). An understand of a market comes with experience, until it does stick with the basics and look for longs in an uptrend, don't try to second guess the market and end up constantly fighting against it.
  40. 3 points
    Could well provide a lot of volatility to the markets, half the Dow 30 are reporting this week. Big day tomorrow with Boeing, MS and Cat reporting. Weightings chart;
  41. 3 points
    Hi, I'm day-trading equities on the UK market for about a year and a quarter now. As I never made any consistent profits with that, I recently started focusing on the FTSE 100 index solely and would like to discuss my (and others) daily trades on the index in this tread. Hoping to find some likeminded traders also trading the FTSE 100 index. Shout, if you are one of them! Before I start in, briefly my trading strategy on the index: (Not sure if this is according to TrendFollowers definition a trading plan, a trading strategy or a trading system or a mixture of all?) - The goal is to make 20 points per day, so for example catching a move from 7340 to 7360 - Once I lose 20 points, I'm out for the day - The 20 points can be separated in as many trades as it takes. 2 points here, 5 points there, etc. - The quantity is static for the entire day and adjusts only as a function of the account equity (So it adjusts only at major equity breakthroughs). I'm currently trading a quantity of 1 for every £400 in equity in the account. - Both long and short trades are allowed - Trades are only opened within market hours (8.00am - 16.30pm), however positions can still run outside of market hours (no need to close an open position at 16.30) - 5 min chart is the main trading chart, however 1 min chart and daily chart are open to keep an eye on What do you think of this trading plan/strategy/system? My trades for the day (13/09/2019; Screenshot attached shows the trades in ProRealTime😞 - Red day, max loss hit 1st trade was a short. Loss Saw the bottom breakout at market open and then snap back up to opening level, with reversal at 7340 resistance. I entered on the way back down at 7355. Only been in profit zone for 1 minute, then it shot back up and broke 7340 resistance. Exit, not a good start. Down 6 points 2nd trade was short. Profit After trading above the 7340 resistance it just broke, it fell back below it, where I re-entered. This time I was able to ride the down-wave and set my profit at day-break-even. Success. Back at 0. 3rd trade was long. Profit Double bottom was forming at 7330 support. I entered on way back up at 7334. Lot of consolidation made me nervous and I exited early with a small profit. Better small profit than small loss I thought. Up 3 points 4th trade was a long. Loss Then the index shot up, broke the 7340 resistance and the VWAP at 7345. I entered at a mini flag pattern for a break over 7350 resistance. Reversed at 7350 resistance and I got out at break of 7340 support. Huge blow, another one and I'm out for the day. Down 9 points. 5th trade was a short. Loss and max-loss hit. Day over Consolidating below the 7340 support, now acting as resistance. Bottom break out. I enter short. Turns out to be a false breakout and reversal. Break of 7340 resistance and I exit at break of 7350 resistance. Done for the day. Down 19 points If you also trade the FTSE100 index, would love to hear your trades of the day! Take it easy Dan
  42. 3 points
    I'm not really sure what the motivation for the question is here: are you looking for a justification (is there hope?) to continue or a reason not to? I can't offer an answer to the second part of your question, that is personal to each individual, but the answer to the first part yes it is true that unsuccessful traders wind up giving back their profits and then some, which is one key reason they are unsuccessful. The crux of the matter though, and this is why your motivation is important here, is why the answer is yes and what, if anything, you can do about it. There are many reasons why traders lose, all traders not just retail. The literature is literally littered (a little alteration to lighten the mood...) with stories of famous traders that had significant growing pains in the early days. It rather seem to me that the only sustainable way to learn how to be a trader is to lose; to learn the hard way, and to learn how to lose. There isn't a short cut to this, although research and book learning is important to start with. And demo only gets you so far because real trading come with an insane level of psychological factors (just look at the tenor of some of the posts on this forum...) So while it is vital to have a system or methodology worked out (and ignore the trolls on this because confidence is also important) it is also vital to learn how to lose, because losses are a crucial factor in learning to be successful and in catching a trade with minimised exposure, and even the very best take regular losses accordingly. The difference between the successful and those destined not to be are many-fold but a few key one that pertain to the first part of your question are as follows: Not reconsigning when a trend has come to an end and knowing when to get out to maximise profits. Related to the above, holding on to your bias because it has been successful in the past - markets move in waves and sometime they reverse trend and if you don't recognise this when it happens you wind up trading against the trend and giving up all the profits from the previous wave and maybe more as you get more desperate to claw back. Not scratching losers quickly when the market turns against your hypothesis AND being reluctant to crystalise a loss at all, thereby holding on in the vain hope than the market will turn back in your favour (it rarely does...). A lot of retail traders talk about needing just 51% winners but in fact you need far few than than that if you let your winners run and cut losses quickly - lose small, win big. Failed traders wind up doing the exact reverse such that sometime they actually do win more than the lose but wind up as net losers financially. Thinking that trading is logical. It isn't, it is emotional (greed and fear dominate the markets - otherwise known as sentiment). That said you need to be in control of your own emotions or you will get sucked into the greed/fear whip saw and get cut to shreds. If you are not composed you will make bad calls. Related to this is blaming everything and everyone else for your bad calls. The markets don't care about you, they don't even know you exist. Big bad professional traders are not out to get retail traders, they are too busy competing with each other. The system isn't rigged as such, although manipulation does occur but it does in every market, not just financial markets. Retail traders, especially those losing, tend to be too preoccupied with these phantom issues instead of focusing on their own method, psychology and trading. Revenge trading - when you develop a mindset that a particular market "owes" you - a need to win back on the same market that you took losses on rather than switching to a better set up elsewhere. After a big loss my approach is to stay out of the market and analyse my loss to ensure I know why it happened and learn to avoid making the same mistakes again. Alas I often wind up relearning old lessons, which is another factor. Creating a "need" to make regular profits, which in turn puts too much pressure on the trader to find traders every day - the top guys do not trade everyday, they wait for the set up to be ripe. Additionally this pressure mounts up with each loss because now you need to make back your losses as well as make your regular profit, which makes the trading more reckless and results in more losses. One reason some successful traders start offering various services such as education; mentoring and tips is to get a regular income so their trading can be on a capital appreciation footing, which is what it needs to be. Believing your own BS - when a profitable trade comes off you start to get cocky and feel invulnerable so you take more speculative trades and don't stick rigourlessly to your method - this is about greed Over trading, especially after a good win. I agree with @Caseynotes but in addition, to avoid the issue in the question, a trader needs a firm grip of their emotions; needs to only trade when the set up is strong, not for other reasons; needs to cut losses and take the hit quickly, learn how to lose and need to have a method to get a sense for the rhythms of the market to avoid trading against the trend. It is about maximising your chances of success and minimising the pain when (not if) you get it wrong. There is a difference between trading and analysing (coming up with the premise for your trade) but there isn't much difference between trading and investing in the context of the premise of the question. In investing punters (and that is what they are) go in for the wrong reasons; at the wrong times and hold on too long when things go against them. They also, by and large, think they know more than they actually do about how financial markets operate. The only material difference is that there losses are limited to the stake invested whereas trading on leverage has open-ended downside.
  43. 3 points
    Real possibility of the Oil markets gapping up on market open following the drone attack and fire at the Saudi processing facility Abqaiq, latest news that production cut by 5 million b/d, half of the Saudi daily output and 5% of worlds daily production (wsj). https://www.wsj.com/articles/drone-strikes-spark-fires-at-saudi-oil-facilities-11568443375?redirect=amp
  44. 3 points
    they should give everyone $10k of credit for screwing this up
  45. 3 points
  46. 3 points
    Get this via email from another broker but thought it was a good copy/paste. Thought it was worth a share and could give a few trade ideas. Also should we get a 'quick trade ideas' section running again? Or maybe @JamesIG can sort a competition or something based on new trade ideas? Optimism is fading as the US’s power struggle with China and Iran continues. By Wednesday morning, markets across the globe were feeling deflated as investors signalled a lack of appetite for the current level of political risk. In the US, the Dow Jones, S&P 500 and Nasdaq closed on Tuesday down 0.6%, 1.1% and 1.8% respectively since the start of the week, while China’s Shanghai Composite had dropped 1.6% by its close on Wednesday. In Europe, the picture is slightly better, with the FTSE 100 remaining flat overall. Germany’s DAX is one of the few major markets to post a positive result: on Wednesday morning it spiked to €12,290.46, up 0.13% from the start of the week. Disney shares to enter new magical era? Some analysts view the stock’s latest holding pattern as a signal to buy, anticipating a further breakout after the company’s shares reached a record-high of $143 last week. Meanwhile, the company’s streaming strategy is gaining steam as Hulu, which Disney owns 60% of, has racked up 3.8m US subscribers in the year to date – outpacing competitor Netflix. Can Disney shares retest last week's all-time high? Micron surprises investors with latest results. Shares rallied as much as 10% in after-hours trading after the chipmaker delivered adjusted EPS of $1.05 and revenues of $4.79bn last quarter – both exceeding consensus forecasts (although still representing a 39% year-on-year revenue drop). Overall, its shares are down 25.7% since its year-to-date high of $43.99 and 0.2% since the start of the year. Some analysts now view Micron as a buy opportunity – with BAML saying they see value in the company’s low valuation. UK high streets still have their champions. While the high-profile turnaround struggles of Debenhams and New Look have been well-documented of late, stocks in sectors like sports retail and value apparel are bucking the trend with strong year-to-date growth. The 3 stocks bucking UK retail's spiralling decline. Match Group enters buying territory. After a dip during the latter half of last week, the parent of dating app Tinder rebounded sharply, rising 7% to 71.48 through Monday. That puts the stock 5% below its flat-base buy point of $75.38, according to Investor’s Business Daily. Match’s stock has had a meteoric 58% rise year-to-date, powered by strong metrics around the Tinder app’s usage and plans to tap Asia’s legion of smartphone users. FedEx reports estimates-beating results. On Tuesday, FedEx announced earnings of $5.01 per share based on revenues of $17.81bn, beating consensus EPS estimates by $0.20. The results do not seem to be enough to reverse the logistics company’s share price trajectory, though, which continued to fall in after-hours trading. On Monday, the Wall Street Journal reported that FedEx had been slashing prices to support its Express service – which also cut ties with Amazon earlier this month – sending the share value down 4.9% by Tuesday’s close. Evercore switches tune on Spotify. Evercore ISI analysts downgraded the Swedish music streaming company from in-line to underperform, cutting its price target by $15 to $110, citing scepticism over the ability to meet Wall Street estimates. Spotify’s stock closed down 1% to $145.69 on Monday. Also on Monday Spotify was revealed to have been exaggerating the amount of “app tax” it pays on Apple’s App Store; Spotify’s CEO Daniel Ek has complained that Apple requires Spotify to pay a 30% tax on purchases made through Apple’s payment system; Apple responded by saying Spotify has never paid more than 15%.
  47. 3 points
    I have found that if there's going to be a short squeeze, Tuesday is the most likely of days for it to happen. They're not called "Turnaround Tuesdays" for nothing
  48. 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.
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