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Posts posted by Caseynotes
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A 1% correction on a Friday, just a typical pre-weekend pullback then.
Steve Burns @SJosephBurns
"The stock market had 3 corrections of at least 5% in 2019, that is an average year for price action. The odds are we will have 5% pullbacks this year as well and they are likely to be buying opportunities not times to think the market is going to crash."
The key to deciding when a move in the opposite direction is done and time to get in to continue with trend is to just imagine you are riding the down move, you stop reloading or adding in when it stops working, wait for that and then look for the next pullback to get aboard for the trip back up.
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I did read years ago that most stop runs don't travel more than about 20 tick past an obvious entry point as by then they will have captured around 80%.
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3 minutes ago, dmedin said:
Do what I do and move your stop around frequently
you can dance about all you want to, if the big guns want your contracts they know just where to find them 🤷♂️🤦♂️
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2 minutes ago, Tudor2 said:
Anyone noticed that wherever you place a stop .... market will always find it ...full control !?
Is that because you put it at the most obvious place, the same place as everyone else?
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4 minutes ago, dmedin said:
Buy and hold then? 🤓
The 8am power candle breakout past near term resistance was the buy signal (buy high, sell higher). Some would have stayed in, I got out at each R level and then re-entered so 2 legs up at plus 15 each then a minus 10 when price failed to take R2. Waiting for a break of R2.
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"Taxation of futures: the worst fears come true! A change in the taxation of futures creates a lot of discussion among traders. GodmodeTrader asked the Federal Ministry of Finance. The answer provides clarity - and new worry lines."
so this is a German govt initiative then, thank goodness we're leaving.
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3 minutes ago, Halo said:
Sorry, don’t know how to do a screen shot and put on the community, but I’m assuming the movement I am questioning would jump out at you if you don’t mind looking at a standard IG GPB/EUR chart for the last few hours.
Thank you for taking an interest in my query, and for anything you can advise
To save a chart right click and then click export chart, a copy will be placed in your download folder and you can add it to a post from there.
The recent spike also showed up on Tradingview though seen as a spike up and a gap down, see pic below.
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2 minutes ago, Halo said:
In the last hour or so had a GBP/EUR trade stopped out because the rate suddenly spiked to circa 1.192, and then reversed almost instantaneously. I have looked at other currency sites to verify this, but can’t see any similar movement’s.
Can anyone recommend a way / independent site for me to verify this, or is something IG did to stop people out
Hi, can you screen shot and post the chart to make it easier for anyone to check?
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"Following in the footsteps of ESMA, Australian financial regulator the Australian Securities and Investments Commission (ASIC) is planning on adding restrictions on CFD trading and completely banning binary options. Whilst the latter is no surprise, are ASIC’s measures regarding CFD’s in the country’s best interest?"
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70% of investors think equities will rise >5% this year
(survey at GS macro conference in Hong Kong this week) via themarketear
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3 minutes ago, Caseynotes said:
French and Ger beat on PMIs so likely EU beat as well, Dax pops above R1.
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French and Ger beat on PMIs so likely EU beat as well, Dax pops above R1.
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😭😭😭
Joe Weisenthal @TheStalwart
Lots of people this morning talking about @RaoulGMI's ominous thread on European banks. Here's his presentation over 7 years ago, where he called for an imminent economic collapse by 2013 based on similar charts.
Jonathan Davis FPFS FCII @j0nathandavis
Euro Banks been soaring in price. DAX just hit ATH. Don't mention DB whose price is doing very well.
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10 minutes ago, dmedin said:
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.)
yes, if you are staying in for the longer term there is no point in fretting over every red bar or even a normal cycle pullback. the key is to have confidence in your trailing stop to keep you in through normal corrections but will get you out when an actual downturn occurs. so best not to listen to the majority who are trying to early pick the top.
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5 minutes ago, liontrading44 said:
Hi Caseynotes, thanks for getting back to me. I noticed the price wasn't updating, once I turned on pro realtime it started working fine. I was on the demo account.
👍
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Indices pulled back further on speculation that China had engaged in a covered up of the dates and numbers of cases of the virus which was the reason behind the seemingly very fast spread internationally. China has now imposed a travel lock down on the city of 11 million.
The Dow chart looks like a normal type pullback while Dax so far not willing to give up on the earlier break of the red weekly chart resistance line. S&P starting today up with a couple of clear support levels below at 3306 and 3296.
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Indices
in Indices and Macro Events
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