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Caseynotes

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Everything posted by Caseynotes

  1. Hi, see this page linked below, the share dealing platform is the old platform referred to in the notes. https://www.ig.com/uk/help-and-support/charts/ig-charts/why-are-my-ig-charts-not-working?ref=FlashPDLeverage
  2. Dax continues through S1 as Dow moves down to tag it's own S1 to the tick. H1 charts;
  3. Dax tags S1 to the tick. H1 charts;
  4. It's a difficult chart, nothing quite fits. Though the fast oscillators are suggesting time for a down wave on the daily the lower time frames are very resistant.
  5. yes I did, I started a new thread, see below. Best of luck, again.
  6. Good article here on the virtues of the MT4 platform from Leaprate published today. https://www.leaprate.com/forex/platforms/mt4-is-still-standard-for-forex-trading-industry-here-are-5-reasons-why/
  7. Gold looking to get a footing in this range bottom from 2011-12 on the monthly chart. Month and Daily chart.
  8. Dax starting above the pivot while Dow starts below so lack of sync as to prospective direction this morning, if not the European open then the London open should decide it. Gotta be either a test of support or a test of resistance.
  9. Hi, it's going to depend on what you are trading, if you look at the top of the IG welcome page and click on 'Markets to trade' and select from the list there will be a link to product details as in the example below for commodities.
  10. Pause day candle for Dow yesterday, tried higher and lower and didn't like either so will be waiting for signs of direction. Ftse perched on the weekly chart key support (red) while Dax looks keen to check the top of the recent range. Not much news wise on the calendar today so will just have to wait for a Trump tweet 🙂 So far a pretty good week for the S&P but the US GDP figures tomorrow will decide it.
  11. Overnight USD flat, Indices up, Crypto down, Bonds flat Oil up Gold down. WTI up 1% chart. Ger consumer senti at 7am, US Oil inventories 3:30pm.
  12. Repeated from another thread. IG's DOM platform is free to use but you need a cfd account with a min deposit of £1000 (I think). In fact drawing support and resistance levels is relatively simple and they are usually the site of clusters of resting orders as seen on the DOM platform and they also correlate well with futures options positioning. You don't need to 'pick' them, you just need to be aware of them and look to see how price reacts at them because they are usually sites of breakouts or reversals. Intraday I would switch to the daily pivot points calculated by the 'Floor' method as the IG default uses but not on a Monday as the 1 hour Sunday candle distorts. The intraday pivot levels are available at the start of day and often correlate well with the H4 and H1 support resistance levels drawn at end of day.
  13. IG's DOM platform is free to use but you need a cfd account with a min deposit of £1000 (I think). In fact drawing support and resistance levels is relatively simple and they are usually the site of clusters of resting orders as seen on the DOM platform and they also correlate well with futures options positioning. You don't need to 'pick' them, you just need to be aware of them and look to see how price reacts at them because they are usually sites of breakouts or reversals. Intraday I would switch to the daily pivot points calculated by the 'Floor' method as the IG default uses but not on a Monday as the 1 hour Sunday candle distorts. The intraday pivot levels are available at the start of day and often correlate well with the H4 and H1 support resistance levels drawn at end of day.
  14. Dax tags R1 to the tick. M5 charts;
  15. Practice for the sake of practice does not make perfect, it just makes permanent. You will not eventually 'get it' by repeating 'wrong' continually. Reinforcing bad practice with more bad practice will only lead to failure. If something is not working seek to identify what is wrong and test alternatives. The biggest problem is usually correctly identifying market type and structure, this is essential in order to know what strategy to apply and when, for example MA crossovers and dip buying type strategies will not work in non-trending markets or when the trend breaks down and they also won't work when buying directly into resistance or selling directly into support. And so strategies for playing ranging markets will always fail as soon as the market starts trending. Strategies are designed either for directional (trend) or balanced (range) markets, imo its best to pick one to start with and get good at it before adding more, so you need to find the market to suit your selected strategy. Decide on a strategy, define the market type and structure it would need for it to work then sort through charts to find that market.
  16. Following on from this morning's post price has continued the climb after a check of support. Dax clear of yesterday's highs while Dow looking to follow. H1 charts;
  17. Including this from another thread to this one on reasons to learn trading using the MT4 platform. MT4 Learn to Trade Though there are many platforms to choose from learning to trade on mt4 stands out for a good number of important reasons. IG offers a multitude of platforms each with their own special features but essentially they all set out to do the same job. If you are just starting out you should not be looking to specialise but should first be seeking to learn the basic art of trading on a average market on a average time frame. Once you have learnt to use a platform picking up how to use any of the others is relatively simple and mt4 is good first choice. Built in trading journal. It usually takes a while before people learn that they need to be journaling their trades, all that time is wasted. And no, the account PnL is not enough, when you start out you will be trialing many different approaches, at some point you will realise you've come full circle, you'll stop to consider what you've learnt and you'll realise the answer is nothing because you have no record of what you've done and what worked when. With a journal you can review and compare different time periods and see without doubt what was working and by how much. MT4's built in journal starts recording your trades from day 1. Micro lot bet sizes. Demo is really only useful to learn the ins and outs of the platform, and maybe checkout the basic prospects of a new strategy, you will not learn to trade on the demo platform, you need to be risking real money, even if it's only fractions to begin with, start low with a view to build up as your skill and confidence grows rather than starting too high, panicking because of the risk and being forced to drop down, this crushes confidence. MT4 is the only IG platform where you are able to start at 10 pence per point (micro contracts). All styles of charts. Every conceivable chart type is available on mt4 (HA, Renko etc) allowing you to experiment and get a feel for them and find out early if they work for you or not, learning on a platform with only the basic chart types (line, bar and candle) will leave you wondering and looking backwards rather than forwards as you progress. Every type of indicator. The range of indicators available for free download is legendary, literally 10's of thousands. Same as for chart types, experiment to get a feel for what suits early on and develop from there. Easy learn auto trading with mt4 EAs. EAs were a main feature for mt4 right from the beginning. Trading robots are popular and mt4 has special features to make the use of Bots easy to learn and, as for indicators, there are many already written you can download plus there is lots of tuition on how to write one yourself. Lots of help and support network via the mql5 community. The resource pages on mql5.com for mt4/5 are huge and there is also a very large and active members forum, most any question you might have is likely to have been already answered, search and see, if an answer is not found just ask the community. MT4 may well not be the platform you end up with once you have learnt the actual basics of trading, it has it's faults like any platform, doesn't cover stocks for example, but it probably should be the one to start out on to learn how to trade.
  18. Same morning picture keeps presenting itself, need to go back to the 15th for something different. Early check of support, both are above the pivot so will be looking for buy opportunities on the lower time frames.
  19. All traders are doing this, that's why there are support and resistance levels, the orders show up clearly on a Depth of Market price ladder, the majority of which were placed by large institutional traders.
  20. Indices continuing to bounce within the recent range, Dow currently midway back up. US GDP on Thursday (prelim) expected at 2% (annualised) could provide the push either way for a break. Ftse sagging under the weight of Brexit uncertainty.
  21. Indices up USD down, Bonds, Oil and Gold up overnight BTC down. High impact news today is Ger GDP expected to be negative 0.1%.
  22. ok, it's going to depend on how you look at the market but the idea is that if you have a trade idea then your stop loss is set where the validation for the trade idea was proved wrong, so in fact most stops should be very tight, it's the trade idea that's probably wrong. You might like the idea of having a massive stop and then sit back and watch price gyrate all over the place but you may as well go back to coin flipping. Using the H4 chart above as an example, if trading the range a limit entry order with a tight stop just beyond the support or resistance level would be appropriate going both up or down, if not using a limit order but waiting for the bounce before entry fine but the stop goes in the same place. The point is that the support or resistance will either hold or not, if it doesn't hold you want to be out as soon as possible. Of course if you took the opposing view and though the levels wont hold then you wouldn't be shorting into support or buying into resistance but rather be waiting for the level to break first. S/R levels are dominant over MAs, S/R levels represent the likely placement areas of orders and are not just the result of a math sum based on historic averages.
  23. Hi, IG shuts down at 10pm Friday and any open trades are carried over on restart which for FX is 9pm Sunday. There can often be gaps in the market price on restart especially if there has been volatile news over the weekend.
  24. yes, the old share dealing platform uses Flash but the new SB and CFD platforms uses HTML5, if you are on the new platform check that 3rd party cookies are switched on for the IG page as the chart data comes from another company.
  25. The volatility is a good thing and though MAs are of an interest I wouldn't start there. Using Dow as a proxy on the H4 chart the support levels were very clear, 25073 (red) and 25273 (blue). Never a good idea to short directly into support (or buy directly into resistance).
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