Caseynotes
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Posts posted by Caseynotes
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Steve Place @stevenplace
16h
"The Nasdaq Composite is currently 36% above its 200 week moving average. At the 2000 peak, it was 150% above This market is not like the Dot Com bubble."
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2 hours ago, ngm said:
Hello ,
I am new IG, and as wondering if any body knows what time zones are the webinars set on ?
Thanks
If accessing from the Academy section there should be a clock confirming current local time with the webinar times referenced to that, see pic below.
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This has just turned up an looks to be an extract from a new biography of Nav Sarao. Those about around 2015 will remember he was the Brit who was extradited to the US on market spoofing charges and said to have caused a major global flash crash. He served time and payed a massive fine but also while inside was swindled out of his complete trading earnings of $50 million (if memory serves).
The extract covers his early days day trading the US markets at Futex (UK company).
(google 'nav sarao' for more).
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Just now, dmedin said:
It would have, and a long position with a stop beneath 400 would be more appropriate now.
But with hindsight anyone can be an expert.
er ... what hindsight;
On 02/01/2020 at 14:50, dmedin said:Well I decided to go in long at minimum bet size, very small amount of margin requiredm and put a stop around 400.
make a plan, stick to the plan rather than this up, no down, up no hold, no down, no up ... rpt ad nauseam. 🙄
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Banks this week;
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3m
This is certainly one of the most important economic news of the past months. Our leading indicator for China credit impulse is back in positive territory for the 1st time since the end of 2017. Running at 0.7% of GDP. It confirms our positive narrative for the global economy
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Just looking at the roller coaster ride of the posts above, one simple plan would have been easier 😃
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26 minutes ago, dietcoke999 said:
Yesterday I traded the weeds APHA, CRON, CGC, luckly it went well but I paid £625 in fees, mainly due to the low dollar value of APHA and CRON.
How do other people deal with trading low dollar stocks as the cost of the fees mean if you get it wrong you've had it.
Or is it just a simple you can't day trade them as the fees make it prohibitive, and just stick to large dollar value stocks only and miss out on the rest?
The alternative is to pay the higher spread for a Forwards contract but avoid the overnight fees, see pic below.
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We have looked before at the open interest in Indices still being on the low side, here is another look from a different angle.
h/t to themarketear.
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China delegation is in Washington to sign phase 1, will they do another runner at the last minute? 😂
https://www.politico.com/news/2020/01/13/china-energy-manufactured-goods-trade-deal-098343
US and Dax poised at the highs and Ftse spying the monthly chart resistance level (purple). UK poor GDP data yesterday but they will all follow the US indices higher if the US economy looks set for another boom.
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Overnight Indices up, Bonds and Gold down, Oil flat.
US CPI at 1:30pm.
IG client sentiment chart.
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S&P homing in on the all time high again.
Daily chart;
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21 minutes ago, psycho said:
Thank you for this @Caseynotes. I am looking for a scanner that compares the changes in technical indicators such as EMA between periods (Daily most of the time). Could you kindly suggest one please? Thanks in advance
Also check this thread;
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9 minutes ago, psycho said:
Thank you for this @Caseynotes. I am looking for a scanner that compares the changes in technical indicators such as EMA between periods (Daily most of the time). Could you kindly suggest one please? Thanks in advance
I've seen a few so will have a think, off the top of my head could try this one;
https://www.teletrader.com/screener/full
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4 minutes ago, dmedin said:
ALL RIGHT. I'll get my nose back to the grind stone and work on a plan
GOOD, glad to hear it.
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5 trading strategies from Tradeciety, It's new, published just a few days ago, I've not seen this yet but these guys are pretty good so likely worth a watch.
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1 minute ago, dmedin said:
For most ...
for most beginners yes, but often they come back with a new approach, eventually most with adopted a rules based strategy that testing shows has a positive expectancy but we've gone over this again and again. Others just keep dancing around in circles expecting to just pick it up some how but I've never heard of that working.
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4 minutes ago, dmedin said:
I'll be perfectly honest with you here, and tell you I think it's a total crock of sh!t (day trading). I'm even ashamed of myself for thinking it was possible at one time.
yes for you it is, we get that.
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👀
6mWe're pleased to announce that IG are finalists in the category for Best Online Trading Platform in the British Bank Awards 2020. Thank you for your support. Clients can continue to vote here: bddy.me/2QOm8Pt
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29 minutes ago, dmedin said:
So if you'd just bought an S&P 500 ETF and reinvested the dividends you would have ridden out the troughs and your capital would not only have been preserved but appreciated handsomely, the longer you held it.
Everything I read on here leads me to suspect that traders are gamblers who lose money trying to beat 'buy and hold', and they fail over and over and over again and just never learn.
same question over and over so I'll give the same answer over again.
When you say 'buy and hold' you are meaning investing not trading but you don't have the capital to earn a living from investing. So trading is difficult and you can't do it so you really want someone to do it for you but still no takers it seems, maybe more goading will do it? I did write the 'how to build a system' piece in the 'Trade Planning and Testing' thread because you keep on so but even just reading that was too difficult it seems. 🛌
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4 minutes ago, cheviot said:
A large number of those shorts are actually Covering net long equities....i.e they are hedges. Hence when the market drops , short indx positions get bought back...Also Put/call options delta hedges.....I have noticed when Apple rallies (in a 15 minute section) Sp 500 falls....That says to me that traders are buying Apple (for example) but selling INDX futures against it...
It also depends on you time horizon. If you are jobbing it net long....fine go for it.....I try and trade with a view .....So at the moment i m jobbing it nett short BUT I scoop back in when appropriate......For example i bought back some SP short on Friday at the close....I ll look to re-instate as it pushes back up....
I guess I prefer to get it wrong because my view was wrong, rather than get caught with the wrong possy with a view I do nt actually agree with.
If you are a black box trader ....no view just react to a number on the screen....Does nt do anything for me.....I look for patterns /ratios/ and a view....I suppose i take a 'position' in the market ....Get out or get in when /if things go right or wrong....
I can see what your saying but think you may be over estimating the sophistication of the average retail client. The SSI figures are for clients with open long or short positions so covering to get out of a long just removes the long and doesn't add to the short side.
Any system that works for you is valid and I wouldn't knock it but your average retail punter has little experience and only lasts about 6 months, they always seems intent on basically trying to call tops and bottoms which they generally don't have the skill or experience to do. So they just keep reloading after each stop out til the account is gone. They would be far better concentrating on learning a simple trend following strategy to begin with. As I inferred earlier, every time there is a single red daily candle on the Dow or S&P everyone falls over themselves to declare 'this is it' the top is finally in, get short. After years and years of it it really starts to grate, particularly with so many noobs so keen to just jump straight in on any shout out.
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5 minutes ago, dmedin said:
'The only thing we have to fear is fear itself!' - well that and huge blazing fires, climate change, and a few other things
"In 2019, "820 natural catastrophes caused overall losses of US$ 150bn, which is broadly in line with the inflation-adjusted average of the past 30 years."
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16 minutes ago, dmedin said:
Hindsight makes us all look like geniuses 😻
the question is though when a market is trending up why is everyone so keen to get short? It's some sort of mental derangement.
This from the SSI thread where I was making this same point a while back.
Price goes up and so retail goes short, price goes down so retail go long, price goes back up again and short they go.
What is this strategy called? The 'empty your account in the fastest possible way' strategy. 🥳
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5 minutes ago, cheviot said:
There s many ways to see a market, and trade ...re-actively or actively....Luckily it takes 2 to make a market.....
that's true enough but I'm looking generally at the 70% of IG clients short the S&P, a figure that's been fairly consistent for the whole of the last year while the S&P was up over 28%.
"Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider."
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Daily Dashboard
in General Trading Strategy Discussion
Posted
Overnight Indices down but recovering a little this morning, Bonds up, USD and Crypto down.
UK PPI and CPI data at 9:30am. US PPI at 1:30pm. US/China phase 1 deal signing 4pm.