Caseynotes

told you he was good 🙂

Podcast interviewing Chris Weston, (previously of IG Australia). I haven't heard the whole thing yet but Chris is always worth a listen. I'm hoping he will talk about using implied volatility as described in the video of his posted in the Technical Analysis thread. https://futuresradioshow.com/podcast/286/

yes you do need to be a bit careful on HA charts and also make sure you keep an eye on the actual price line and remember the candle open has been averaged out. Another good alternative is Renko which also smooths price action making it a little easier to follow but unfortunately not available on the IG platform yet.

yes but only due to high levels of uncertainty caused by brexit and the upcoming election, that's not really what you are looking for. see below the implied volatility charts for other pairs and the global FX index, the low vol is not just eurusd it's all of them. so low implied volatility means a decrease in the high/low range that the pair is expected to trade in according to actual trades that have been placed in the Futures market and can also be seen historically by a charts decreasing daily ATR.

Pairs (FX) are something of a 2-headed beast and so different to other markets but it's the very low volatility that leads you to be crawling around on your hands and knees trying to pick up pennies. Nothing ever seems to take off but rather sparks and then just fizzles out.

👍

Found it on a quick search;

S&P sector charts; Bespoke @bespokeinvest Helpful snapshot of S&P 500 sector trading range charts, from our Daily Sector Snapshot report available to members. Uptrends in place for all but Energy

ADP vs Nonfarms;

yes, not just the nfp figure but all 3 main headline figures;

Going back to the original chart and I started trading FX at A and it wasn't too bad but then sat through all the way to B and that was tough. But it picked up again and again wasn't too bad but at C I stopped trading FX altogether and have not regretted it since.

yes that's true though they all had to start somewhere. I think myself FX and crypto is more difficult to trade than stocks, indices and commods and yet FX and crypto are the gateway into trading for the majority. FX I think is particularity difficult when volatility is at extreme lows.

fair enough you are advocating investing over trading but that doesn't negate the fact that there are professional traders.

good, go back to basics. Decide on near term direction, look for a reasonable pullback set up to reverse back and continue with trend and enter with a simple bracket order of a tight stop loss and reasonable target and just keep chipping away.

I see a difference between a trader and a gambler working with a validated plan and a gambler and a trader working with no plan.

Dow reaching for R1 and yesterday's high 27770 while Dax trying to retake the pivot. H1 charts;

yes, the eurusd has had a 14 period daily ATR ranging between just 25 to 40 points for the last month whereas the Dow has ranged between 140 and 200.

Hi, you need to go to 'Positions' tab on the left hand side and click on the actual stop numbers box and then on the drop down arrow, see pic below.

If I remember correctly on IG US stocks need a min market cap of $250M to be included on the leveraged platform, if a stock falls below that then new trades are disallowed but it stays on the platform until all those with running trades exit. Other reasons not to take bets may be that IG has reached it's risk/hedge limit on a stock. Worth repeating that a broker is not there just to automatically take the other side of your trade, that's a bookie. A broker matches buyers and sellers.

Very true, you can find a collection of his work linked in this thread. https://community.ig.com/forums/topic/4559-ta-technical-analysis/

@AVOR All very good and important points and very true as to trading generally but with a market (eurusd) having an ATR of just 35 points trying to make a daily living with a small account/bet size is going to be a problem.

Dow continues upward but a big day ahead with NFP this afternoon. The OPEC mtg rumbles on but a cut in production looks a likely outcome. S&P now back up over 50% of the Mon-Tues drop.

Overnight Indices up, Bonds, Oil and Gold down. See Ger indy production (m/m) just came in at minus 1.7% instead of the plus 0.1% expected but Dax doesn't seem to care, it knows it's future is tied up with the US data. US NFP day today at 1:30pm and 180k expected, don't forget the ADP nfp on Wednesday came in at a big miss of only 67k v 137 expected.

Looks like schmoks like. So at the start of the day look at yesterday's daily candle, it can only be either a bull or bear or a pause candle. Assume today's candle will be the same (bull or bear, forget pause), so expect a continuation candle. Watch the daily pivot throughout the day, he who controls the pivot controls intra-day direction. So if yesterday's daily candle was a bull then so long as today's price action remains above the pivot then expect continuation upward.

but you see that 'what' you trade is going to really affect outcomes if you are retail operating with low size . FX is the traditional entry (or was until crypto) but neither is necessarily the 'right' asset to trade. Low volatility is fine for investing but death to trading.