Caseynotes

Overnight Indices easing off the highs, Oil flat. Gold up and USD down Today US CPI at 1:30pm.

Two countries, one lesson.Between 1970 and 2017:

Before market open - check current risk on or risk off ( on = indices and oil up, gold and bonds down. off = opposite ) expect continuation of current until new news affects the charts. - note times of up coming news events that day that could affect the markets if outside expectations. During I used to have squawk box years ago but found it a distraction and only told me earlier why the market had jumped or reversed, watching the charts is instant and someone on twitter will tell me why about 30 seconds later anyway (they still have a squawk box). Also on twitter is info that may come into play in the near future to keep an eye on. the news feed on the IG web based platform is good (IG pay Reuters well for it) but the IG mt4 news feed is not the same so I don't use. The more you get used to chart reading the easier it becomes but it does take time.

seems such a long time ago now.

Dax and Dow heading for the US open. M15 charts;

if you're looking for certainty in any indicator you'll be looking forever.

you could pay a subscription there are many news sources from a basic £50 a month squawk box up to Bloomberg's top offering which is a computer read 250K a month or quarter (can't remember which) that plugs straight into your robot and starts placing your trades before the bloke on the squawk box has even opened his mouth. 👀 Unless you have the latter you will never catch the spike, so wait and look for follow through instead.

btw, that unnamed chart with trend indicator and drawn on pullback and breakout entries was H4 Gold. Have a plan, keep it simple; 1/ A trend indicator dictates entry direction, never go against it. 2/ Entries in a trend can only be either at pullback failure or a breakout, nothing else (if neither is clear just don't) 3/ For simplicity have a set target order to exit (risk 1: reward 2). Don't try to be clever and look to run every entry up to the moon. 4/ Don't break any rules, ever. Eyeball backtest the strategy then trial on demo then trail live on an average market for pennies to begin with (mt4). Once you learn a platform learning others is relatively easy. Once you learn a market learning others is relatively easy. Confidence to enter a trade can only come from statistics so keep a journal of every trade that keeps a running total of win rate and risk/reward (R) 1:2 is 2 R so the win rate needs to be 35% or higher. Keep practicing the above til you get it right. 👍 When you can do all that then maybe look at other strategies such as the more difficult trading reversals, but then why bother?

Can't add to the recently restarted US OIL thread now so start anew again. "Oil has been showing some signs of "hope" over past 24 hours. Given the fact oil and Chinese CSI 300 move in tandem, maybe the oil bounce could turn violent to the upside."

can't say I heard of anyone looking at that, indices can behave similar to individual constituent stocks in that they will occasionally get sweep up in over enthusiastic buying or selling and carried further (up or down) than is warranted and need correct thereafter.

Dax well away now and Dow testing yesterday's high. M15 charts;

no worries, thanks.

not had any problem with any other thread at all. when first opened the thread there was no space at the bottom of the last post so no box to add a new post.

Dax looks like it's woken up in strange new territory and doesn't know which way to go, Dow taking an early morning check of support. M15 charts;

Rule of thumb is to expect continuation til the chart says otherwise though as ever the general wave pattern of the incoming tide means timing those entries.

no problem, unfortunately only given for FX so far and remember it's an estimate based on the expected end of day interest rate.

Hi, see here; https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

vid blocked in UK?

@CharlotteIG ha, now you've gone and blocked me altogether 😆

As I've tried to point out often it looks like you were lured into thinking you could go into full time trading without a viable plan or tested strategy and learn on the fly. That may be because you were listening to people who are constantly giving out professional sounding advise but even after years of trying can't themselves make a living trading but instead rely on other income. On forums and on SM these ego driven guys are by far the majority, be careful who's advice you follow. Not necessarily a question of quitting but more a case of needing to rethink your whole approach.

Daily Dashboard. Indices, USD and Oil up. Bonds and Gold down. Today Powell continues his testimony to congress 3pm.

Hi @CharlotteIG, can you check the 'Daily Dashboard' thread, I can't add a new post. Also the create a new thread function has lots of greyed out headings such as 'general discussion'. thanks.

Dax now into all time highs, S&P following up on yesterday's ATH and Dow edging up to it's recently created ATH. Ftse still lagging but goods buyer optimism improving (themarketear).

It may turn out that way but until you see the bulls retake control you just don't know so wait for the candle reversal or a pullback on the way back up, there are hundreds of maybes there is no point in trying to jump on them but rather wait for momentum to destroy the opposition.

Look at the structure, the only real clue your indicators were giving was the R1 level of interest saw a reversal of direction near the end but before that yesterday there was a run down that gave a couple of breakout shorts, box off sideways movement and wait for price to break which ever way then small breakouts on the way back up and then after the reverse at R1 look for a break going down. Again just short stop losses and a set target of stop loss x 2.