Caseynotes
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Posts posted by Caseynotes
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This week's calendar;
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Dow and S&P still looking at the highs, Dax continues to push upward while ASX stalls at resistance and Ftse waiting for some kind of brexit resolution. This week could decide it either up or down with up coming US GDP, FOMC and NFP as well as Apple and FB earnings.
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Overnight Indices up Bonds down, Crypto pulls back a touch, Oil pauses, Gold up.
Not much on the calendar today but this week sees US GDP, FOMC and NFP.
Also a big week for Earnings.
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S&P tagged it's all time high today, very bullish especially on a Friday, Oil up, Gold balking and Bund down.
Also see post above emerging markets (a leading indicator) breaking higher.
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2 hours ago, dmedin said:
Exactly, and it's not anywhere as useful as the hedge fund/institutional investor sentiment indicators, which are hard to find and would be a fantastic value add alongside open interest and put/call ratios (but there's no chance of us getting them in the platform)
Too many 'dark pool' swimmers. The best available is the COT weekly update which I was thinking of adding a more comprehensive one in Monday's Daily Dashboard thread.
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3 minutes ago, DSchenk said:
Cool
When I started out here in this forum I thought @Caseynotes was the admin
He's just too seriously active in here for being just a normal guy
yes not normal, but in my defense most of my posts are just repeats ☹️. Just need this last trade to push over the line and I'm done.
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Interesting series (unfinished) on 'Learning to Trade' from Trading psychologist Brett Steenbarger. So far just the intro and parts 1&2 of 3 but thought to add as it's good weekend reading. More about the trading auction than trading psychology and so something for everyone.
Intro
"After having gone undercover lately and signed up for a number of trading services, I'm left shaking my head. The great bulk of what passes for mentoring and trader education is amazingly simplistic and non-original. To varying degrees, the services exhort would-be market wizards to follow the lead of the mentor/guru/teacher and enter into a world of ongoing profitability, with all the associated desirable benefits. The entire experience of tasting the world of the trading beginner reminds me of Andy Huang's doll, who pursues an ever-receding glamorous future, only to find the whole thing an illusion."
Read on -
https://traderfeed.blogspot.com/2019/10/getting-past-trading-illusions.html
Part 1
"This series of short posts will describe the process by which I am teaching myself a new form of trading. The idea is to illustrate a learning process and concepts that I have found important in trading. Eventually I'll post actual trades and how these become part of the ongoing learning process. Given the unusual interest in the recent post on what is missing in much of the trading education world, my hope is that this blog can provide a realistic, hype-free alternative."
Read on -
https://traderfeed.blogspot.com/2019/10/learning-to-trade-1-building.html
Part 2" In the first post in this series regarding learning to trade, we explored a foundation that enables us to see three things: 1) who is in the market; 2) what they are doing; and 3) the prices at which they are doing it. The goal is to achieve an understanding of the market's auction process, tracking the actions of buyers and sellers and their ability to move markets to new levels of value."
Read on -
http://traderfeed.blogspot.com/2019/10/learning-to-trade-2-understanding.html
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12 minutes ago, dmedin said:
According to ADVFN: The spread betting company won’t charge you a commission or a fee (they make their profits on bets that you lose).
If that is true then they really have an interest in most clients losing money, and their business would be in danger if clients became more successful.
no it's not true and you should know as the question has been answered dozens of times.
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14 minutes ago, dmedin said:
Will be interesting to see
Maybe ADVFN provides L2 info?
ADVFN don't do US L II either.
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12 minutes ago, CharlotteIG said:
I will have a look what we can do. But as you mentioned it needs to be updated, which I can check how often that can be done. Further to this it is just IG sentiment, not sentiment for all traders.
Thanks @CharlotteIG, I'm thinking I've only seen brokers offer there own retail trader positions and it has seemed to collate well between different brokers so I would assume IG's own data would be sufficient and easier to collect and display, probably more timely as well.
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27 minutes ago, dmedin said:
Now's a good time to buy.
why? the only reason you've got going for a trade against trend is the potential of a double bottom if price can break the neckline. if it can't then it's forming a range and you've just bought at the high 😮
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1 hour ago, DSchenk said:
Challenge 2: My Demo account has £20,686 in it. How do I get it down to £500?
Do I need to place a couple of trades to lose it and then charge £500 on it? Lol
Don't know about PRT but on IG's web sades platform it can't be reset lower, only higher so you would need to blow the demo account then refund it.
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1 hour ago, DSchenk said:
Challenge 1: Setting up PRT for a Demo account
Message from IG:
You have activated ProRealTime. As you currently trade regularly with us, the normal monthly fee of GBP 30 has been waived.
ProRealTime will continue to be available to you free of charge if you meet our minimum number of transactions per calendar month, and we will never debit the monthly fee from your account without your prior agreement.
You have activated ProRealTime. If you trade four or more times with us in a given month, you will not be charged for advanced chart access. Otherwise there is a monthly fee of GBP 30. See our Terms & Conditions for details.Obviously not keen on paying the £30 per month. So I'm thinking of still placing 4 trades per month on live to keep it free. Should be possible to maybe take 4 positions on a slow moving asset like an index and close it straight away, so you only pay the spread. Should be way cheaper this way than £30. Like spread on FTSE with size 0.5, costs £0.5. 4x this makes £2 per month.
What do you think of this approach? Makes more sense to me than paying the £30.
There is also a undefined value consideration not just number of trades so if you did min number at min size they will inform you to either stop using or start paying as they have to pay PRT for each user.
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11 minutes ago, CharlotteIG said:
Hey @oziebloke- The sentiment is the way IG clients are trading. Do you think it might be useful for the IG sentiment to be on the platform, potentially somewhere on the ticket?
@Caseynotes- If you have any thoughts on this let me know. It would be great to have as many opinions on this as possible.
It's interesting sentiment and I do like to take notice and would like to see it on the ticket, it's a bit of a double edged sword though, do you go with it or be contrarian and go against it. If it was updated quickly enough it could also be used as something like a volume indicator which due to the way it's collated can be a bit laggy which is why tick volume is often more useful than real volume (number of trades rather than size of trades). Would be interested hearing other traders thoughts.
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26 minutes ago, DSchenk said:
Who else is in giving the small account challenge a try? @nit2wynit, @dmedin, @Mercury, @Caseynotes, @TrendFollower, @elle ...
Ross starting over, does this mean he is going to give up all the expensive subscriptions as well? As pointed out in early Sept from vid posted on this thread Ross explains he is paying $250 a day for his direct market access platform and high speed connections which doesn't include the commissions on his trades. Anyone trying to copy may struggle to keep up.
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34 minutes ago, dmedin said:
It's hovering beneath the long-run uptrend. Suspect that it is another 'too big to fail' corporation.
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Can't seem to shake off the never ending run of bad news.
_20191025_10_43.thumb.png.c323c7ef76de4573da9f8aa9890422e2.png)
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Emerging Markets looking to breakout of downtrend.
_20191025_10_35.thumb.png.f3e5752332ac5c250956dc9271d05a03.png)
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5 hours ago, oziebloke said:
I use the client sentiment data for my trading, but I'd like to have the pairs I follow on a single page.
Is there a way I can access that data from a feed to make my own customised page? More specifically I'm after the trading activity data, so I can see the sentiment for the last hour.
Thanks.
Hi, the IG sentiment data can be retrieved via IGs API or an easier option might be this page but it only shows daily (or weekly) change though it is updated regularly throughout the day.
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Both Dax and Dow have pushed strongly up off the Pivot so R1 is the initial target though we often see a check of support on the London open. A break below the Pivot changes the targets to S1.
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Dax determined to push on while mixed earnings releases meant another step sideways for Dow, there has been a trickle of positive trade dispute news through the week but not enough to push the Dow. Ftse gaining as GBPUSD turns down and ASX nearing key resistance.
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Overnight Indices and USD flat, Oil down, Bonds and Gold up. Mixed earnings after close, Amazon hardest hit down 5.7%, was down 9% at one stage.
9am Ger business climate data and US Mich consumer sentiment at 3pm.
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9 minutes ago, Caseynotes said:
quick read stopped for the draghi presser but,
so an outright ban on binary options for retail,
and initial margin of at least (for retail): gold 5%, indices 6.67%, commods other than gold 10%, crypto 50%, all else 20%.
can't find FX, surely not under 'all else 20%'? otherwise basically in line with ESMA.
FX same as for Gold 5% (20:1) big drop from 200:1 - worse than esma (3.33% - 30:1)
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2 minutes ago, CharlotteIG said:
That link should work now. Let me know if there's still issues. It's just an outline of their proposal for change.
https://download.asic.gov.au/media/5241542/cp322-published-22-august-2019.pdf
Thanks, link works fine.
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12 minutes ago, Mark27000 said:
quick read stopped for the draghi presser but,
so an outright ban on binary options for retail,
and initial margin of at least (for retail): gold 5%, indices 6.67%, commods other than gold 10%, crypto 50%, all else 20%.
can't find FX, surely not under 'all else 20%'? otherwise basically in line with ESMA.
_20191025_10_03.png.4095d275e2e2c25ab125a8a860865a6b.png)
_20191025_10_43.png.981b17fa07e419a2f9a1b503930801dd.png)
_20191025_10_35.png.68db437746965b802b3b9f3323e1f05b.png)
Dax & Dow
in Indices and Macro Events
Posted
Dax and Dow nudging resistance coming up to the London open, will often check support initially before attempting to push higher.
Weekly charts below and it's been a strong month for Dax as Dow keeps looking for an excuse to break the high.
The big day is Wednesday with the FOMC rate decision and Apple and FB earnings report.
H1 and weekly charts;