Caseynotes
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Posts posted by Caseynotes
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10 minutes ago, dmedin said:
I like your work.
I am a retard so I don't understand 'volatility' in the same way. To me volatility means chaotic movements in both directions, which is less desirable than a sustained move in one direction (the direction that you have bet on). This is why more people have success with betting on an individual share price than day trading/minute trading on the 'great casinos'.
Volatility is a reflection of movement, it could be up, or down, or up and down.
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16 hours ago, tehka said:
I observe what appears to me like a Descending Triangle Pattern in the Dow daily chart. As the range get smaller and smaller it will eventually break out, I believe to the downside. That support level at 26750 would be the level to watch put for. I believe that this may happen in the next few trading days
I'm always a bit skeptical about patterns and tend to look at them from the other way round because random patterns turn up all the time. So rather than see a pattern and then try to find context and significance I would prefer to already have context and then see the chart pattern or candle pattern or indicator signal confirming it because on their own none of these are worth betting on.
The weekly Dow is bullish, the US GDP is 2%, Trump hasn't upped the stakes in the trade war (yet). On the down side the world economy continues to slow though at a fairly gentle pace and is tied directly to the trade war so currently (now) the context is bullish and if I saw a pattern that supported that, great. If Trump suddenly upped the trade war stakes then there would be a good chance of a descending triangle pattern playing out, great.
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20 hours ago, DSchenk said:
Here some of my thoughts on the importance of ATR (Average True Range) in Day Trading.
Interesting EA based solely on ATR
https://www.earnforex.com/metatrader-expert-advisors/ATR-Trailer/
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54 minutes ago, sponthespread said:
Thanks for reply, also do these "robots" actually exist (if so are there any recommended ones) as they claim to be faster than the human at making decisions when due to really powerful computers with upto 85% accuracy? I have read a couple of reviews but think that they maybe fake too?
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There are many bots available, thousands in fact and for all different types of trading, most are EAs for auto trading on the mt4 platform. The biggest resource is on the MQL5 market place where at least there are user reviews posted and usually a free trial period and any disputes are resolved by the web site controllers.
The key to bots is not the speed but the relentless search for a particular setup and the systematic execution. That can be a disadvantage as well, bots are poor at reacting to changing market conditions, a bot written for a trending market will give back profits when the market starts ranging and visa versa.
https://www.mql5.com/en/market/mt4/expert
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12 minutes ago, sponthespread said:
Hi, are these crypto robots any good, or is it just a scam to take your money? As i a new trader i am about £950 in loss at the moment and was thinking of investing £200 in their scheme, any thoughts please?
Gaz.
A quick search is bring up some pretty shady practices by Bitcoin Evolution including fake celebrity endorsements, characters involved in BE known from previous BTC bot companies shut down for scamming and references to BE being a clone to previous companies shut down for scamming. If a bot is the route you want to go down I think you should probably avoid BE and keep searching.
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Dax straight up to 12345 which was a big sell volume node from Tuesday mentioned a few posts up. Both Dax and Dow are above the pivot with Dow retesting now.
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1 hour ago, TrendFollower said:
Calling me names and calling me a clown.
you act like a clown you are a clown, cajoling to get me to show you how to trade, then the harassment, then the insults and then the casting of aspersions because you don't get what you want. it's been done before, you're not the first and probably won't be the last. best if you just go back to bsing newbies and cut and pasting whole pages of text on trendfollowing straight from books, it's what you do best.
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Indices start the day trying to lift higher, the Dems getting desperate keeping the impeachment ball rolling now and have resorted to begging potential whistleblowers to come forward after the one they had was proved a fake. Laughably they didn't make any checks on the story at all before steaming in.
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Indices pushing higher Bonds down, Gold flat Oil and BTC down.
US Durable goods at 1:30pm.
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22 minutes ago, TrendFollower said:
That is fine but then why should anyone take you seriously? Why because you have posted 5000 times and have 1000 likes?
no not because I post but because it proves I'm here all day every day and have been for years you clown.
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1 hour ago, TrendFollower said:
If they are waiting for the trades to come to them then how often do they trade in a day, week, month or year? No one knows. All I hear is the same rubbish that I am trolling or I am looking for the holy grail or some rubbish like that. No thanks. I am happy with the way I trade. Yes I am not the best trader. Yes I will make mistakes
the point is, as was pointed out recently, is that you don't actually trade at all. "My success came when I started trading oil, corn, cocoa, etc and beginning to make profits by holding on to my positions until the trend changed" said he who didn't have a clue how the SB dfb and futures platform actually worked.
and then there were the 2 trades made public, jumped in on fomo, cac'd himself because there was no plan so jumped straight out again. an experienced trader read the write up and joined the community just to point out that anyone following this was definitely going to lose money, the long winded waffling reply boiled down to it being really just an attempt to get others to reveal how they traded.
Some people have time to contribute on the forum throughout the day because they are waiting for trades to play out once activated or are waiting for a new setup to present itself, simple really, been doing it for years. People trade how they trade because of what they know, you can't just hand over years of experience in a few posts. Better to point the way ahead and leave the bs to those who have nothing else.
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Dow heads down towards the pivot looking for support on the US open but Dax holds on just below R1.
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2 minutes ago, nit2wynit said:
That looks ready for a drop to me 😮
That's what they were all saying all through 2016.
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10 minutes ago, nit2wynit said:
I think philosophically ALL info is Good Info. It's all part of your own knowledge base providing you understand it. I've certainly learned from this forum from all that have jumped in and offered 'opinions' on my cause.
I once watched a man Spray a Car. It was effortless and the finish was amazing. While observing him I took care to watch his speed, his stroke direction and his patience. I figured providing I do the same I should also be able to do an amazing job. However, what I didn't see was the Prep of the body beforehand. The arduous sanding. The mixing of the paint so it was the correct viscosity, or the pressure applied to the variable trigger on his spray gun.
That's all true and there is plenty to learn, the problem with trading is that it's nothing like learning on a uni course or an apprenticeship. To get to grips with trading you need to bend your personality and twist your will, someone else can't really do that for you or show you the way, you have to do it to yourself.
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2 minutes ago, AbDXB1345 said:
@Caseynotes also just taking the time to learn, most people just want to jump right in.
Trading on demo for an extended period allows exposure to the markets with no risk. the obvious downfall of this is with no risk there is the chance of paralysis by analysis.
I stuck to demo for almost 2 years and felt it was time to put experience to practice on a small size account, with the aim of adding to the size with monthly contributions that wont bankrupt me.
A very reasonable approach, I would prefer a shorter time on the demo and shifting onto MT4 where you get the live account experience starting at a much lower position size to build up from than on any other platform but each to his own.
Learning markets, trading technique (rather than being fixated on TA) is key, once you've learnt to trade on one market it's relatively simple to learn any of the others but it all takes time.
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1 hour ago, nit2wynit said:
If I was to have a mentor from day one, in the room with me that explicitly told me not to bet high, not to
Mentors can be very helpful, the problem is finding one who can help you develope in your own style rather than trying to bend you to their's. I've known some people who have tries 4 or 5 before making any headway. I also know that if I tried to trade at the start as I do now I couldn't have done it, it would have been a mess, so just trying to copy someone else's style will not usually work either. The problem with taking advice on forums is who to believe, I've seen whole cohorts of newbies being lead down a blind ally never to emerge again. Better to be lead by a mentor with a verified history than by an amateur with an ego.
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It was a nice move in ftse, drop down to check the pivot, bounce up straight through R1 and come to rest at R2.
M30 chart;
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Dax and Dow just pausing at yesterday's high having bounced up off the pivot on the open. For Dax R1 just ahead then Tuesday's point of control at 12345.
The profile is volume rather than market so the red bar (POC) is the level at which most volume was traded rather than the level where most time was spent, the blue bars are high volume nodes.
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2 minutes ago, AbDXB1345 said:
@Caseynotes forums are the perfect place for Catfish...
I guess all I am dying to see is someone post a comment saying "Hi there, yes, I trade for a living and make my annual income predominantly from trading and investing". I guess that comment in itself in the Holy Grail... probably out there but unlikely to be found 😄
As has been pointed out in other threads, the only people who claim success seem to be the hot air balloonists or those that are selling something (courses, mentoring etc) but why is that? Looked at from the other end what's to be gained by coming forward, besides the harassment, the nagging, the begging and the insults I mean.
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you need to be a bit skeptical @AbDXB1345 about what turns up on forums because over time you will come to realise there's usually an awful lot of hot air. For example someone might repeatedly boast they have been successfully trading commodities off the daily chart for years but all the while you've known they don't even understand how the platform works so it's just not possible.
You will also find there are those who constantly insult to provoke in order to get someone to reveal the 'holy grail' cause of success in spite of the fact there isn't one. It's a long road and there don't seem to be any shortcuts but searching for them is often the thing many spend most of their time doing.
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1 hour ago, carm said:
Can someone clarify if on IG I can only sell/buy Share options on the phone, not on the online platform?
I reached to IG help on the chat and asked how I can sell 'covered call options' on the IG platform. The answer I received was:
"Share equity are not available on online platform'. Only option to trade shares option is to call. "If you hold then on non leveraged account call us. If you want to trade on CFD, create a live CFD account first and then call us"The first question from the person on the chat was 'Can you please let me know what do you mean by covered call option'.I provided this link https://www.ig.com/uk/glossary-trading-terms/covered-call-definitionAfter some back and forth about opening a CFD account, I clarified that "I am looking to sell/buy options on shares that I already hold. How can I execute a covered call on the online platform?Also, under my demo CFD account I can only trade options on the following asset class :
Indices
FX
Commodities- So not on Shares.When I asked why options on shares were not available on the online platform, this is the answer I received:
'Because there's plenty of shares available to trade and we cannot list each and everything on platform as well for option. Hence it is business decision to offer it on call only'.yes that is correct, the platform does not offer share options, only options on cfd's for fx, indices and commods.
to buy/sell options on shares you are holding can only be arranged by the dealing desk by phone.
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If the Brexit debacle wasn't entertainment enough there's laughs a plenty across the pond as well. The Dems have realised that unless they can impeach Trump they are sunk in the next election, right on queue comes a whistle blower with an (fake) account of a Trump phone call containing Trump 'lies'. "Impeach" - Trump releases the official transcript of the phone call, drat, but next time we'll get you. Clown world.
So that was the cause of the drop and rally yesterday, let's see what today brings.
Latest betting on the runners and riders below.
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Overnight Gold trying to rally after yesterday's drop, Indices and Bonds up, USD down Oil down. Crypto mixed, Stellar up 4% but still looks to be racing to zero. Chart Gold.
US final GDP today at 1:30 expected at 2% q/q annualised, Fed speak this afternoon.
Dax & Dow
in Indices and Macro Events
Posted
Good follow through after the initial thrust up on market open for both Dax and Dow, pulling back now in anticipation of the US open though being Friday not expecting fireworks this afternoon. US Durable Goods up 0.5% over the 0.2% expected.