Caseynotes
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Posts posted by Caseynotes
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12 minutes ago, nit2wynit said:
Take a look at this. Typical of me. Followed the trend but bought the drop instead of the pullback. Now a waiting game to keep hold of £10.
If looking to sell on pullbacks you are waiting too long. Pullback x 1 = forward x 2 is a typical move but you waited til x 2 the pullback before entering and run straight into the next pullback.
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33 minutes ago, dmedin said:
Yesterday was big loss day. I feel as if looking at short time lines is a bit like examining a single tree with a microscope while the rest of the wood is burning around you. I am jealous of people who can work with short time frames, I just can't. And it makes me feel like ****.
There should be no big loss days unless you are repeatedly betting against the run of play, don't do that. It's usually caused by trying to trade breakouts and reversals, don't do that.
There should only be 3 possible outcomes to any single trade; a small loss, a small win/break even, or a large win.
Anything else suggests your risk/reward is badly skewered.
There will be a battle at support and resistance, keep out, wait for price to move on to the next level and look for a pullback to get aboard. The stop is placed just behind the pullback because if the pullback turns into a reversal the trade idea is invalidated.
The chart below is M1 but the same structure appears on any time frame. Keep out of the rectangles and look for entries on a sloping MA between them.
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After the usual battle on the open Dax now at the overnight high and looking for R1 which is a bit stretched today given yesterday's big move.
M5 charts;
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Gold just popped up on the H1 chart, no news.
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8 hours ago, Syed308 said:
Why crude is falling
Put simply @Syed308 oil is needed by industry so if industry is waning that will be reflected by the price of indices going down and also cause a decrease in demand for oil.
Compare the S&P with US Oil charts below, though there will be adjustments along the way and occasional distortions by influences affecting one and not the other the two will usually be going in the same direction.
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Two bull flags on the recent move up, may first look to consolidate or check support after the big rally but will be eyeing up those daily chart resistance levels just overhead (orange).
H1 Charts;
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All blue after the recent BTC bounce.
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BTC gets a bounce off key support at 7424 and looks ahead to resistance at 7984, currently at 7795.
H4 chart;
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The Fed steps in to help the markets signalling the Fed was ready to cut rates if warranted sends all the indices back up.
US non-manu PMI today at 3pm, forecast is 55.6.
ADP nfp data today at 1:15 could hint to Friday's number.
The S&P leaves key support intact (2721) and looks ahead to resistance at 2840, currently at 2800.
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52 minutes ago, Pottz said:
Hi
I’m assessing the IG platform and am interested to know what reports I can generate from a CFD acct, primarily for the purpose of tax reporting, so I would want to know all positions closed in a specified period, the opening and closing values, total commissions on open and close, total interest charged and resulting profit or loss. Preferable in format extra table to excel. I cannot see any reporting avilable from the demo site
what reporting in in general is available
thx
steve
Hi @Pottz, you need to go to your 'My IG' page and from the dashboard select Live or Demo Account then select 'History' for transactions, past activity, and PnL breakdowns, or select 'Statements' for transaction statements and costs and charges statements.
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4 minutes ago, Dillywolly said:
Hi team
Please can you clarify what the Soybean DFB tracks? Is it the spot price, or a combination of futures contracts?
I’ve seen a few similar questions to this, where traders have been asking for clarity on what different DFB contracts are tracking. Is there a place where we can access this information, and if not, I would suggest this is created to provide clarity to your clients!
many thanks
alex
Hi @Dillywolly there are separate charts for dfb spot and futures, you just flick between the two, see pic.
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48 minutes ago, nit2wynit said:
I'll try again tomorrow and see if that works. My stops are a direct relation to the movement within the trend.
Today i just had every Bet going the wrong way. We'll see. Whatch this space for a bankruptcy notice.
lol
Tomorrow will be different because .... 🤨 What did you discover from the end of day post mortem?
The day proved to be an uptrending day. You had 9 long trades with 5 winners and 4 losers which is fine.
The problem was the 18 short trades of which 14 were losers and 4 were winners.
So you need some way of determining the intraday direction of price action.
Consider something like a 20 period smoothed sma.
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19 minutes ago, sunnie said:
Hi, suddenly i couldn't open the chart in the old platform.
Please advise. Thanks!
Hi @sunnie,
probably site permissions problem.
Click on the padlock icon in the IG page address bar url.
In site settings check java and flash are set to 'Allow' (not 'ask').
Exit settings and click on the 'Reload page' banner that will appear just below the address bar.
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44 minutes ago, nit2wynit said:
Call me a fool. I feel it important to keep you all up to date with my progress.
I've been posting screen shots of my Wins on the Demo. I have been easily achieving around £100 per day (2hrs) with 80% winning trades.
I've gone Live again today for the 2nd time with 2k.
I've lost 90% of my trades and down £230 in 3hrs on the FTSE. £55 on Uber in 2 seconds. I've already been sick once.
Something is clearly not right here. Even using the lowest stake I can't win £2. The chart appears to freeze for a moment when I Buy in. then it reverses. I noticed this a few months ago when I started and commented that my Buy In almost always becomes the point of reversal. I went back to the Demo (back then) and proved a winning streak. went back Live lost it all again.
I know we're going to put it down to psychology and fear of Loss.
I don't know what to think.
@nit2wynit, here's a test you can do, open up the demo on one browser page then open up the live platform on another browser page. Set them both upside by side on ftse 1 second charts and watch;
they move identically. But more importantly see how fast price changes and how frequent the gaps are, this is what you are trying to trade.
Going back to the other thread where you posted the day's demo trade history.
Just looking at the ftse trades you are using large size to make just a couple of points, that would be hard enough using a price ladder or a tick chart but if you are using a candle chart ... well, just look at the top picture again.
Yes it's a lot easier on demo because size doesn't matter, but it does on a live chart, you are constantly aware that a fast 3 tick move against you on top of the spread puts you seriously offside in the space of a slit second, that makes you jumpy, no wonder you made yourself sick. You say you dropped down in size after losses but it was too late by then, once the confidence has been wreaked you need to stop and look back at the plan.
Starting off on the live platform with large size with a strategy that needs very quick reactions just causes anxiety driven decisions and they don't tend to work out to well.
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10 minutes ago, shaggy99 said:
Anyone know how to increase the number of PP using PRT charts above R3D & below S3D?
Hi @shaggy99, I don't think you can but you can use a calculator and add the 2 extra levels manually.
https://www.earnforex.com/pivot-points-calculator/
You just need the previous period high, low and close. You will need to do this for all the pivots for Monday anyway as the shortened Sunday candle causes a false reading.
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Just now, dmedin said:
Exactly ...
If a seasoned manager of a multibillion hedge fund can't hack it, how can some 'day trader' sitting on their laptop at home have a hope in hell?
These big guys have all the resources to help decision making but they still have to compete with the market (each other), if someone's gonna win someone has to lose. You are not competing with these guys, your job is to follow, just try to follow one that's going up not down 😉
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Gold unable to continue on and looks to consolidate around 1324.
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Little change, BTC still down 7.6%
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Not often you'll hear Merryn Somerset Webb swear as the BBC makes sure everyone knows just what's to blame.
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Dow bounce looks to be on the pre-market open;
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*Gulp*
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5 minutes ago, RLC said:
Woodford has put a temporary ban on withdrawals from one of his funds. SJP is one of his biggest clients. They will be put under pressure from their own clients on why they invested with Woodford
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Looks happy enough just hanging around R2 while Dow goes on a pullback, may see a stronger attempt on R2 if/when Dow heads up again.
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5 minutes ago, JLZM1999 said:
selling opportunities now from R2 for DAX ?
Perhaps, that's a very strong move up though so I wouldn't be rushing in to bet against it. Price seems happy to be hanging around just below R2 at the moment, at some point it will move on and the key is always to be looking to trade as price has done with a level and is moving away on to the next level whether that be up or down and there will be a pull back along the way to get aboard.
lol
Is spread betting for fools?
in New to IG Community
Posted
It's retesting the prior high, wait to see who wins then look for an opportunity to catch a ride to the next level be it up or down.