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Everything posted by Caseynotes

  1. So you have to admit this S&P chart is as bullish as you could get, traders have been waiting for the Fed who haven't disappointed, have refused to break lower during that wait and are just staring at that ATH just a short reach away. Barring a war there seems nothing to hold back the continued march onward and upward. Daily chart;
  2. yes they will be on less charts but I understand your point about the size of the moves in ftse, no harm in trialing them though you might find marking out the immediate prior high and low has more relevance.
  3. Starting to get quite a bit of stuff on here so probably be useful to slot in an overview as to what is the point. So most people who start trading lose, well known fact, but why? It's because they don't have a FOP of course. People enter trading like they would enter a casino, they decide they are going to 'have a go' and 'try their luck', they swot up on how to play Blackjack or what ever, the statistical and technical analysis, walk into the casino, sit down at the table, and guess what, they don't know it yet but they have already lost. The mindset is just all wrong, the fact is you are not walking into a casino you are walking into a market via a brokerage doorway. If you are walking in with the mindset of a punter or a gambler it's bad news not just for you but for the broker as well because you are just going to blow your account in short order and then leave, just like most punters at a casino. The small amount of commission made by the broker on your pitifully short career was probably hardly worth signing you up for. Now this has been said before many times for many years, but needs constant repeating, you need to develop the mindset of the casino not the punter. What's the difference? A casino operates with a FIXED ODDS PLAYBOOK and you need to do the same. The casino doesn't care who walks in or how well they might do because the casino knows that over time they will come out on top. You can't walk into a casino and play just any game, you must play their game. So what's your game, your playbook? Whereby you will sit down at the chart and watch price bounce around all over the place, plenty of chances to make money but you're not interested, will not be lured until you see one of your setups from your tried and tested playbook develop, you execute as per your playbook rules and the trade is over and you can sit back and wait for the next one. It's obviously better to develop and test your FOP before you sit down at the table but it's never too late and that's the point of the thread, how to make a playbook and how to test it so you know exactly what the odds are before you play.
  4. Ross is US based, there is no SB or CFD there, they are prohibited by law, have been for decades. They have straight share dealing or futures options. Tax implications are the only real difference between SB and CFD, SB is UK only.
  5. sure, the one present on the greatest number of trader's charts will be the IG default; (HLC)/3 midnight to midnight. You only want to change the Monday one to chop out the Sunday 11pm one hour candle. For ftse I get these settings on the mt4 platform (below pic), btw what does to m stand for as in mS1 on your prt charts?
  6. Fairly slow going so far and probably likely to remain so, even inspite of the oil move I suspect a rate cut is still fairly well already priced in so may be more of a chance for a move to the downside rather than up, and be wary of the presser, price can swing on every sentence, especially with Powell who has a reputation for putting his foot in it.
  7. Update from Iofina Iofina Plc @iofinaplc The Group is pleased to report that it has completed terms to begin construction of the Company's newest #iodine plant, IO#8, in western #Oklahoma.
  8. Hi, sounds great, especially with the wild moves just lately, which platform are you using out of curiosity, I remember we were talking about the DMA platform a few months back.
  9. Dax and Dow starting out just over the pivot so awaiting clearer sign of direction. Below is a look at yesterday's Dax on a 4 point bar Renko chart; the day started below the pivot (orange) and a failed attempt to break up through on the London open, that was followed by two further rejections before a break down through S1 (red), then a retest and fail leading to a further break down not quite reaching S2. The afternoon saw a complete retrace of the morning's move back up to the pivot.
  10. Hi, in the UK they do have a minimum account deposit for the DMA platform, otherwise it's free to use apart from any exchange subscription fees. Find out more from your welcome page > Trading platforms > Advanced platforms
  11. No real movement yesterday, attempted to go lower but was bought back up, attempted to break higher on the US close but sold back down overnight. Fed rate decision today 7pm and presser 7:30 so traders likely to be cautious til then
  12. Overnight Indices down Bonds up, USD flat Gold up. H4 Chart US 30y Treasury note up slightly this week after drifting down for the 2 weeks prior. UK and EU CPI data but it's all about the Fed today, 7pm, presser at 7:30.. Check out Dailyfx's summary on how interest rate cuts affect the different markets from the link below. https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/17/how-gold-oil-stocks-usd-perform-after-fomc-rate-cuts-start.html
  13. Dow looking to break out up over the pivot on the US close having been restricted all day is very bullish. H1 charts;
  14. come down because of oil but now Saudi saying oil back on line expectations will reverse back up, 22 hours and counting ta-da.
  15. The spreads for SB and CFd are the same, we saw this on a vid of Ross's @nit2wynit posted on this thread a week or so ago. CFDs are banned in the US, have been since the late 70's so Ross is share dealing through a DMA type platform that he pays $280 a day for which includes high speed connectivity, exchange fees and low commission per trade (1 or 2 $).
  16. 08:38 (SA) Saudi Arabian oil output will return to normal levels sooner than initially believed, according to sources with knowledge of Saudi oil operations - press - Saudi source: Saudi Arabia is near to restoring 70% of 5.7M bpd oil output loss - CTNews.pro H1 chart;
  17. "Ocado makes first full-year profit in its 15-year history" (2015) 🙄 And yes, as the study points out, it's virtually impossible to make a living day trading in the first year with no training other than reading 'TA for Dummies' over the weekend.
  18. the Tradingview chart is the same 5min chart but none of the charts are the market, just a approximate graphical representation of the market, a gap might be represented as a blank space or a solid candle. There are differences as to all platform construction, some are build with an emphasis on dealing while others the emphasis is on charting. The IG web based platform is the former (and used by both retail and professional traders alike) while PRT and Tradingview are more tuned to charting. Either way you are trading the market.
  19. but what is it actually telling you though, besides that 3 different platforms are filling in gaps differently on a illiquid stock.
  20. I read this research paper last week and it really doesn't say anything new. New traders lose, and it didn't offer anything constructive though who would want to trade Brazilian equity futures anyway Not too many business startups make a profit in their first year, take Ocado for instance 🙂
  21. These below are IG's default as they appear on the MT4 platform whereas the web based platform places the pivot at 7336 instead of 7335 and match your top set so there is a very slight difference in the way the 3 platforms show the data, I would use your top set because IG's charts and default indys are used by 10s of thousands traders and really that's what it comes down to, that they be recognised by the majority.
  22. Good 25 min video overview going through the elements of a trading system/strategy from Tradeciety.
  23. Latest from Dailyfx IG client sentiment, note the big indices are at their usual heavy short by the retail crowd as is always the case as markets close in on their highs. Comms, fx, crypto, indices;
  24. Saudi press conference set for today 18:00 UK time, reports that Aramco are signalling to customers of delays to loading, also a report yesterday that Japan contractually has first dibs on storage stocks.