Caseynotes
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Posts posted by Caseynotes
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Just now, Onceshy said:
Oh WOW! its this easy. Thanks man!
👍
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6 minutes ago, DSchenk said:
@CharlotteIG That would be fabulous to have confirmed from official side. If this is the rule, at least we can plan with it
Found it on a quick search;
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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
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ADP vs Nonfarms;
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yes, not just the nfp figure but all 3 main headline figures;
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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.
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2 minutes ago, Martino115 said:
Sure there are professional traders out there mostly trading other peoples money, which in itself is very different to the retail guy..
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.
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4 minutes ago, Martino115 said:
In my humble opinion once you get away from looking for short term price movements and take a long term investment view can you start making money.
fair enough you are advocating investing over trading but that doesn't negate the fact that there are professional traders.
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13 minutes ago, dmedin said:
radically changing my tactics before I sink for good. 😺🐮
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.
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3 minutes ago, dmedin said:
The problem is that there are an enormous number of financial professionals, some with decades of experience, who would disagree with you.
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.
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Dow reaching for R1 and yesterday's high 27770 while Dax trying to retake the pivot.
H1 charts;
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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.
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6 hours ago, Onceshy said:
Is there a video/image screenshot somewhere to demonstrate how to add a trailing stop then to a existing position?
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.
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On 04/12/2019 at 13:18, DSchenk said:
Btw, Ross did yesterday make his money on DRIO, the leading gapper. We can't trade this on IG, is this all a **** **** crappy conspiracy against us, IG????
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.
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7 hours ago, dau710 said:
Rayner Teo is mostly a price action trader & he gives away heaps of trading techniques for free. I know the markets have been difficult recently but his techniques are simple and very effective & may be of assistance to all.
Very true, you can find a collection of his work linked in this thread.
https://community.ig.com/forums/topic/4559-ta-technical-analysis/
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@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.
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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.
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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.
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1 hour ago, dmedin said:
Looks like DJIA is about to do another big ploppy doo-doo
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.
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Just now, dmedin said:
I agree, and I think the idea of trading for a 'living' is (and probably has always been) impossible for a 'retail' client. Simply not losing your money puts you in the top 5 percent ...
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.
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2 minutes ago, dmedin said:
EUR vs USD has been moving down for over a year. As Chris Beauchamp says, 'Sell the rallies.' We're all experts with hindsight
realistically it's been moving sideways all year but the question is though with a 14 period daily ATR of just 35 points what sort of size would you need to trade this to actually make a living. Compared to Dax for example which is also historically low at just 135 points.
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3 minutes ago, dmedin said:
EUR/USD has been moving 'sideways'? WTF? Am I looking at the wrong chart?
Oh dear, it looks like the ATR is about to hit zero ...
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Nice reach down to tag and confirm support at the daily pivot for Dax to start the day.
H1 charts;
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5 minutes ago, dmedin said:
Frankly I'm surprised that anyone could make a 'living' from it in the first place.
95% failure rate, but out of the remaining 5% how many are making a 'living' as opposed to just making a net profit?
To make money trading price has to move in any direction other than sideways, as the price chart shows eurusd has just been moving sideways for a long time as the implied vol chart confirms.
When I say traders I mean traders rather than the hopers, dreamers and fantasists who make up the large percentage of failures you are referring to 😥
Is Retail FX Trading Dead?
in General Trading Strategy Discussion
Posted
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.