Caseynotes

Indices and Oil up, Bonds and Gold down, USD down Cryptos up, chart BTC 13020. UK GDP 9:30am, FOMC minutes from the last meeting 7pm.

Hi, see this thread linked below.

While waiting I can make a few observations that should interest you, no doubt you will have seen the colossal mess Deutsche Bank has got itself into with it's derivatives business, a lesson there, but it has made the DB stock very volatile which draws many traders because it increases risk and therefore opportunity. A point to remember though is that charts are not the market, they are only a visual representation of the market, a simulation. That's quite a difficult thing to do considering how a market works. Someone can pick up the phone and take out multiple handles in a split second and suddenly there is no market, the best bid and best offer are miles apart, until the book is reloaded nothing happens, once bids and offers can start getting paired again the market can restart but there is going to be a gap in price and a gap in time. You won't usually notice this on the higher time frames except on very illiquid stocks where a whole day can past with no activity whatsoever, but you will see it more often on the very low time frames on many stocks and even sometimes on the indices. So because the charts are only a simulation they always have those 3 little words printed in the bottom left hand corner that the broker will always point to at times like these.

Hi, the mt4 platform doesn't have the stock listings as does the web based platform but as per your top picture, if you were to click on the + icon to see the listings available for fx, comms, metals and indices.

Dow tags the pivot before the US close, Dax stuck at S1. H1 charts.

I noticed the US pre-market open was doing some strange stuff to the chart a short while ago.

Hi, you will need to call the helpdesk as IG staff won't be able to discuss personal details on the forum.

Yes spreads are variable, though usually they sit at the minimum they can rise for periods of increased volatility and/or decreased liquidity such as during market moving news events or for out of market hours trading, not good times for retail clients to be trading anyway. Increased spread represents increased risk and is initiated by the liquidity providers who provide IG with their prices, the degree of increase is a reflection of the degree of perceived risk and during extreme events can be very large.

Correct, you pay the spread on entry.

No attempt to check the pivot, Dax went for S3 and now back up to tag S2 while Dow tagged S1 then onto S2 and now reversing back up. Fed chair Powell speaks at 1:45 may provide some reaction before the US open.

The format is different for the web based, PRT or MT4 platforms. See this video;

Lots of valid points @elle, hence the importance of logging trades in a journal that can be reviewed and that can provide statistical feedback. I was waiting for the promo for Edgewonk 🙂

Hi, historical data for which platform?

The PRT 'Help' tab should have an option to send a brief report of the problem and a copy of the error message direct to IG tech support.

Perfectly valid idea, 57.3 is key support at the moment and a break down will necessitate a search for stronger support further down, 56.4 was a recent low or the stronger still 56.0 would seem reasonable targets. It all hinges on 57.3 though.

Interesting, but which IG dashboard has 0%, the chart says -7.49% but is showing no candle at all for yesterday (0%)?

Hi, you need to go through your 'My IG' page > live accounts > withdrawals.

Best not to look at the world through bi-polar glasses, if it's a guaranteed return you're looking for the best bet is to become a wage slave of the rich and powerful. If you had six extra zeros on your account balance how would that actually change your trading, it wouldn't, you would still need to learn.

The recent pattern of heavy overnight trading continues, as mentioned in the Indices thread the red lines here for both Dax and Dow are important support levels. Likely to see an attempt to check the pivot this morning.

Indices continue to pull back, Dow trying support at 26708 and Dax at 12463. Ftse has pulled back to the monthly chart resistance level it broke a week ago (7527).

Indices down USD flat, Oil down Bonds flat Cryptos up chart BTC 12717 Lots of Fed speak today.

Not sure what your point is really, it's just another breakout pattern, people use them all the time on all kinds of charts. It's not as well recognised as many others but just as valid which was why I featured it.

Here on the MSCI World Index Weekly Log chart;

True enough though the H&S continuation does have it's own unique profile which makes it easier to spot and is surprisingly common when you actually go looking for it.

Earlier in the thread we looked at journaling trades, specifically to get the win rate and the average risk reward ratio and plotting these on the profitability chart, there is much more to be gained from journaling, more latter, but first here is another important reason to know these stats. The probability of having successive losing trades and could your risk management plan manage it? Say your win rate is 50% (which is quite high, many traders survive on less) so the probability of having 6 successive losing trades within a 50 trade period is about 50%. So with a win rate of 50%, how much of your account balance are you willing to risk on each trade knowing there is a 50% chance of having 6 straight losers within a 50 trade period?