Caseynotes
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Posts posted by Caseynotes
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Exit Poll;
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28 minutes ago, jamiej said:
Hi do u support mt4 mt5 ?
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27 minutes ago, jamiej said:
Hi do u support mt4 mt5 ?
Hi, MT4 https://www.ig.com/uk/trading-platforms/metatrader-4
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S&P daily;
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China responding in agreement - no tariff increase on 15th Dec plus a cut to existing tariffs.
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Being read as a pre-announcement that the phase 1 part of the trade talks is a done deal.
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Still going;
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7 minutes ago, dmedin said:
Zut alors 🐮
Trump tweet at 14:35, 5 min into US market open 🥳🥳🥳
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6 minutes ago, MAR said:
Just taken a little look at this and I feel its very easy to understand but I didn't see any reference to part 2 and 3.
Thanks for putting the link up 👍
can't see either (or remember) though I see the article was updated just a few months ago.
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Labour rolls out the big guns;
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1 minute ago, GavinB said:
I think there's a nicer way than what @Caseynotes suggested. If you use multiple screens, you can "tear-off" charts or even put a workspace in a separate browser tab. Then you can just drag whatever you want to a 2nd screen.
Does that make sense?
that's true, forgot about that one, thanks.
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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.
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Just now, dmedin said:
Zut alors 🥳🐴
The exit polls will give a fair idea whether is will be worth staying up late to watch the constituency results come in one after the other and watch the swing of 'yes/no' which if is a close run thing will also swing the market but be prepared for high spreads and high min stop loss levels.
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After what some commentators described at the most boring FOMC report and presser for years the charts continue their march back up to the highs.
DOW, DAX and S&P daily charts;
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Overnight Indices and Oil up, Bonds and Gold down, USD flat, Crypto down. S&P back up near the all time high.
Today Swiss CB rate decision at 8:30am, ECB rate decision at 12:45am and presser at 1:30pm. US PPI and jobs data at 1:30.
UK general election all day, exit polls starting just after 10pm on voting polls close, market to watch GBPUSD.
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19 hours ago, Johnny12 said:
Using the IG platform is it possible to view the same pair across two different time frames across two different screens?
I have two screens and would like to view a pair on one side in a 4 hour chart and on my other screen on the 1 hour chart. I can get two browsers up but if i change the timeframe in one it changes the other one too automatically.
hi, you can open the whole platform again in a new browser window by using a 'in incognito' window is one way around the problem.
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11 minutes ago, dmedin said:
I am wondering if it will be worth staying up all night, not to listen to people on TV droning on and on but to see if there's any volatility to trade on ... or if I should just get a proper night's sleep lol.
I stayed up for the referendum vote and kept a rough commentary going here on the forum. It was an absolute wild roller coaster from the disclosure of the first exit polls right through and remain/leave changed lead so many times through the night as the votes were counted. Never seen such wild swings on any chart before or since, you could smell the blood in the water and feel the agony the next day.
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though your PnL will do that but that can be misleading and cause people to abandon a system too early, it really is all about the collated stats, that's the only thing that will give the confidence to keep going or to recognise when it's time to change course.
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Very good vid on "6 Essential Trading Lessons From Top Traders You Need To Learn"
Published just last Monday from SMB Capital and featuring psychologist Dr. Brett Steenbarger. Matches the analytic thread, lesson number one KEEP SCORE.
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6 minutes ago, Guest Aus Trader said:
The IG's analytics looks fine, but not that useful. Thinking from a trader's perspective in designing these types of system could go a long way. In my view these are the must have for a good trade analytics feature:
- Currently basic stuffs like custom date is missing, and analytics does not provide much info. I believe these will be added because these are the most basic stuff.
- Probably the most important and useful addition would be to have the ability to UPLOAD a Chart Image and put a note for each trade. This feature would take this to a new level as there are no proper software that allows this making it difficult to keep journals.
yes, fully agree, I expect this to be added to but traders who currently use nothing at all but a hope and a prayer can start seeing early on that their system isn't working and so start making amendments instead of drifting on for months getting nowhere.
Custom date and adding pics would make that process easier to do.
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On 06/12/2019 at 19:20, dmedin said:
No need for four monitors. Have four desktops on one monitor 😍
Found a PC to go with the new monitor;
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17 hours ago, trenna said:
Hi there,
I use the IG Australia platform, and the website says that the Australia 200 cash indics opens at 9am on Monday mornings. However, in any charts I look at, the first interval for Monday is always 9:50am. Could someone please explain the difference here?
Thanks very much
The ASX operates on Sydney time and pre-market opens at 7am while trading opens at 10am but IG opens for trading at 9:50 though with a higher than normal spread. IG also allows for trading after ASX close at 4pm right through to 8am but again with a higher spread.
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6 hours ago, NixCool said:
Hey ya, here is that screen shot... its basic... but a step in the right direction
Thanks, above is an example (lifted off the net) of the mt4 trade analytics you get with the mt4 platform so IG still have some way to go but most importantly the basics are there for quick strategy testing.
Any strategy needs to be tested over a number of trades (20 - 50) before it can give back data as to if it's going to be viable or not. The IG stats give just enough to be able to VERIFY a strategy, just having a set strategy is not enough, it needs to be tested before risking too much money.
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in General Trading Strategy Discussion
Posted
Overnight risk on as Indices continue higher after US/China signing phase 1 deal and Conservative win in UK election, Oil up, Bonds and Gold down.
Today US retail sales 1:30pm.