Caseynotes
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Posts posted by Caseynotes
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2 hours ago, dmedin said:
That's a really good question. Normally I'd move the stop loss just above break even if it moves far enough away in order to give it more room to breathe, and then occasionally review the trade to look for candlestick patterns etc indicating a reversal or pullback and try to take profits.
An exit strategy adds information for deciding on the entry, where is price looking to get to, how long am I willing to sign on for. It encourages you to look ahead realistically rather than just hoping for a parabolic move after entry.
Consider trailing stops; based on MAs, ATR, set number of points away, manual trail following up to the next higher low.
Or set targets such as; S/R levels, pivot S/R, set number of points away, risk reward ratio eg 1:2.
Or, as you suggest floating targets such as the next reversal chart pattern, indicator cross overs (MA, MACD etc).
If you have already decided on how to get out you are not going to be so worried about what price does in the meantime.
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1 minute ago, dmedin said:
Yes, I can just leave it to do its thing.
I will exit if prices goes back above the 'pivot'!
ok, but isn't that lacking a certain something, I mean that could be a place for an initial stop loss but would you really want to see price race away in you favour 100s of points and then return all the way back to stop you out for a loss? just asking
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11 minutes ago, dmedin said:
🙈 This is too much for me to handle!
What's the exit strategy btw? If you have one then it can 'handle' itself 🙂
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2 minutes ago, nit2wynit said:
Duly Noted!
Thanks
👍
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1 minute ago, nit2wynit said:
Just so I'm absolutely clear here........
IF it went up 1000pts then reopened; I'd be Broke?The one good thing esma did was negative loss protection on accounts so your account would be gone that's all. In the case above an Irish school teacher earning £20,000 a year was left owing IG £250,000, they had to write it off of course, if memory serves IG wrote off some £200 mil but if you had it they collected. The saga was one of the main reasons for the regulation changes.
You may of noticed I've been prodding suggestively over the last few months that perhaps a strategy seeking out volatile markets and using £170ppp bet sizes on a £2000 account might not have been one of the best ideas I've ever seen 😉
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13 minutes ago, Caseynotes said:
@nit2wynit what are you looking at? both charts clearly show a gap between last close and next open, look again at the tick chart, the higher the magnification (time wise) the more gaps you see, on a tick chart you see them everywhere, on a 1 min less so and on a 1 hour less again.
Just to make you feel better the most extreme case I ever saw was watching live in Jan 2015 when the SNB unpegged CHF and it plummeted 1000 points, guys were mashing their keyboards desperately trying to get out but who wanted to take the other side, no one.
The moral of the story is don't trade highly volatile markets unless you really know what you're doing. In the CHF case people forgot the SNB could kick the prop away anytime they wanted. In the Deutsche Bank case the size of their derivative loses was big news being digested. It's the same, but far less extreme for mad data releases, wait for the whipsawing to die down.
6 minutes ago, nit2wynit said:My chart has a Left to Right Gap. Your charts have Vertical gaps.
Gaps are vertical, on the IG chart nothing happened so nothing was printed for that minute, on the Oanda chart they just skipped over it and went from 35 straight to 37.
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@nit2wynit what are you looking at? both charts clearly show a gap between last close and next open, look again at the tick chart, the higher the magnification (time wise) the more gaps you see, on a tick chart you see them everywhere, on a 1 min less so and on a 1 hour less again.
Just to make you feel better the most extreme case I ever saw was watching live in Jan 2015 when the SNB unpegged CHF and it plummeted 1000 points, guys were mashing their keyboards desperately trying to get out but who wanted to take the other side, no one.
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9 minutes ago, nit2wynit said:
What can I expect to happen here? @Caseynotes it seems you're setting me up for a 'This happens-Get used to it' kind of response. It's part of trading?? Seriously?
I'm saying that the chart is not the market just a close simulation, I'm proving that two different brokers could not put a 1 minute candle down at the exact same time and that says the market was not functioning for that brief period. There has to be someone on the other side of every trade and if one side suddenly stops then the market freezes. Yes it is part of trading, seriously.
Take a look at this 10 tick bar chart of Dax, even with the current lack of volatility there are gaps everywhere, that's closer to how the market really works.
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52 minutes ago, lazza said:
I want to buy UBI.ASX, Universal Biosensors, but IG says I need to sign a paperwork if I want to buy U.S shares. What dose it mean? UBI is an ASX stock, why can't I invest in it? Anyone has same problem?
There are a lot of UBIs on different exchanges may have caused some confusion but IG don't seem to list the company for share dealing, that maybe because it has a low market cap $44 mil. It is on the leveraged platform but listed as 'close only, unborrowable'.
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FX volatility continues dropping, currently nearing 5 year lows. see chart FX Volatility Index for the G7 below.
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8 minutes ago, Foxy said:
Dow has resistance at 27400 and looks pretty flat to me, here is my chart
yeah, and Ger economic sentiment came in a miss at -24.5 while the EU as a whole came in at -20.3 which was actually a slight beat lol.
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Gold H4 and the coiling continues to get tighter but the break when it comes usually leads to a strong move, never quite sure which way the break will go but most chart patterns are continuation patterns.
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On 12/07/2019 at 19:20, Guest Homer Enronride said:
What the hell is going om with Dax?
Moves like a dead fish in water
Could it be something with Deutsche bank?
Not just Deutsche Bank and it's derivatives black hole but German factory orders, industrial production and economic sentiment (today expected at -20).
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Dow checking the pivot before the London open, Dax looking to support at 12389. Both currently above the pivot so looking for long entries.
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Strong push down through 60 following a test of the recent high yesterday, now at 59.60 having found support at 59.27, RSI has dipped below 50 and the support level doesn't look too strong, may look lower.
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Interesting comparison in the daily BTC and Gold charts both showing consolidation following a period of uptrend though Gold has a more flag type look to it.
BTC back up to tussle over 10800 support turned resistance.
Daily and H1 charts;
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Dax and Ftse both putting in daily reversal candles yesterday while Dow drifts upward after the strong push through resistance last week. Asian markets struggle with China concerns.
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Asian markets down Crypto down, Bonds up, USD flat, Oil and Gold up. Chart Bund.
UK average earnings 9:30, Ger econ senti 10:00, US retail sales 1:30pm. Lots of Fed speak throughout the day. Ger sentiment expected at a very depressed -20.9.
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2 hours ago, Marioabbati said:
HI everyone,
I´m barely new in trading and I´d like to bring as much math as possible into it. What kind of math would you advice at a beginners level? I mean in terms of risk management, statistical forecasting, hedging and so on.
Thank you very much!Hi, you are correct, there is some very important math to consider concerning trading.
Have a look at this thread linked below and consider;
risk reward ratio, win rate, risk reward against win rate showing profitability, probability of sequential losing trades as it relates to % of account balance staked on each trade (risk management).
I wouldn't worry too much about hedging in the early stages unless you were looking to hold a very long term position through thick and thin, the rest of us just run away 🙂
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4 hours ago, dlowbz said:
Hi All
I would like some help as i have been trailing through the IG platform and would like to know is it possible to filter through shares by price, volume within a day/week etc?. I would like to do this to find penny stocks that have high volume?
I have also seen that IG offer a level 2 access which I'm assuming this is a more powerful tool. Could someone explain features, the cost if any and the benefits of this.
Regards
Dan
The L2 data is by the DMA platform (Direct Market Access) and not more powerful or necessarily cheaper but just a more direct route to the liquidity providers, you will need to pay a monthly fee to see the exchange data feed.
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1 hour ago, dansnash said:
Hi
Is it possible to use the API on share dealing accounts, rather than just SB and CFDs?
Hi, no SB and cfd only and not on shares. See https://labs.ig.com/
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Hmmm, wondering it that's THEE Mladen joined the community, hope so. @Mladen
famous MT4 indicator coder.
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Weak bounce up off 9842, more downside seems likely and a possible retest of 9628 the low of 2 weeks ago. Resistance overhead around 10700.
H4 chart;
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Ah, lost this mornings post, US Oil gets a clean bounce up off 60 on the second attempt.
API use for Share Dealing
in IG Technical Support - Platform and App Help
Posted
Only that it's linked to leverage accounts only same as the DMA platform, whether it uses DMA I'm not sure, you can trade shares on API but only on a SB or CFD account.