Caseynotes
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Posts posted by Caseynotes
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I agree @TrendFollower, reading some of the posts I wasn't sure if a trailing stop was going to be used for SB to lock in profits and prevent a total loss of any gains or indeed too much loss of capital.
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@Bell, nice charts, I've always liked the look of those from Stockcharts.com, don't often see them here in the UK. Are they set in the US time zone?
Yes, may well be setting up for a bearish move, especially if the trade talks fall flat which the indications seem to be pointing directly to though the news throughout today has been very mixed.
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@Foxy interesting, you may well be right, the sell off started before the US market open as well.
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Warren Buffett doesn't use leverage and I think there are a few professional leveraged traders who don't make as much money as him, and as I suggested before, no one tries to trade everything.
So yes @nit2wynit, it is a big space which is why you need to discover what and how you are most comfortable trading.
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Once you understand the market and have learnt how to survive you can do anything but not everything so you will need to decide on personal preference and what suits your core personality (which will have been changed by the journey). What and how you are most comfortable trading will provide the more satisfying experience and so the best returns for you.
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11 minutes ago, nit2wynit said:
What will make you more money in Long or Short term? Spread Betting or Share dealing?
It doesn't matter whether you choose long or short term or SB or share dealing, until you've learnt all the skills needed to survive in the market place your mistakes will inevitably wipe you out.
Survival is the first goal and 80% of those who try trading don't realise that and so won't make it.
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IG emphasing the double bottom on the daily just now.
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@nit2wynit, it's my understanding that the probability of finding those one in a hundred stocks that just take off is er ... about one in a hundred 🙂 You are right that learning to trade is difficult and takes time as there is a lot more to it than just platforms, dealing tickets, charting, indicators, patterns, psych, strategies, risk management ....
If you were wanting to compare SB to share dealing maybe try running matching trades on 2 demos.
https://www.share.com/investment-accounts/free-practice-account
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Indices attempting a bounce up from here, not sure why, I don't think the Chinese have just changed their mind 🙂
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14 minutes ago, nit2wynit said:
As stated earlier, with £1000 available as an example, i can purchase 11,500 Motif Bio. If it only moves half a penny i can make £575 profit.
IG really needs a demo shares platform and I would certainly be looking for one to trial such a risky strategy. Putting your entire account on one trade doesn't have a very good long or even medium term survival probability.
Just looking at the chart below I see that price goes down as well as up and in AIM stocks when price is going down is the time when you can't sell.
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13 minutes ago, Foxy said:
If you like to trade gold its looking good to me right now. Take a look at this H4 chart showing a potential high to sell with a clear stop at 1289. a break above that could be a signal to reverse and go long.
It wouldn't be unreasonable to add the high from Feb to your trendline.
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High implied volatility levels after yesterday's big move so high prices and very balanced, not looking to take anything from there.
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No real clue as to direction, Dow giving nothing away, Dax went to tag the pivo then stalled and Ftse has looked both ways and returned to the middle.
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@rich12, you can find it on the deal or order ticket, see pic;
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On the Eur open Dax looks to be trying to continue the pullback rally with the daily pivot a target. Dow visited it's own pivot overnight and wasn't too impressed but has settled at Monday's point of control. Bit worried it might be a balance day, waiting for direction to become clear.
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As if things weren't bad enough now my own demo platform has started mocking me. I obviously expected the option trade yesterday to be minus £30 on start up this morning and so the headline was but I find that the demo has put it's own trade on without any action from me.
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Just to recap, on the first market high in Jan 2018 Trump started the trade war causing the first slide down, the market worked it's way back up and at the top in Sept 2018 Trump turned the screws again sending the market back down. And now he has done the same again, how far will it fall. There is likely to be a delay in any major movement as the Chinese delegation, which includes China's vice president, arrives in Washington to continue talks (the 11th round) Thursday and Friday.
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That's interesting, not seen that before. So IG are taking away individual cannabis stocks but have an index instead. I don't know about 'safe to invest' in but seems workable to speculate on though the chart has many spikes and gap traps.
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Dow pushes down through support towards S1, currently at 26120, Dax trips past S1 currently at 12120.
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5 minutes ago, FOXY said:
Ftse looking to break up through 7369.
Yes, Ftse trying to follow Dax which is trying to push down through the large bear candle bottom put in at 9:30 yesterday evening but Dow not bothered at the mo and currently has support at today's point of control (red dash).
It's setting up similar to yesterday which saw dax and ftse turn around and follow dow up after the US open.
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New CryptoCred video on Entry Triggers;
Published 6th May
Hr 1:10.
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Ftse looking to break up through 7369.
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Dax Option;
LT bull, MT neutral, Current bull. Daily ATR 116 points.
News; 10:00 EU econ forecast.
Possible LOD 12249.
T1 12353. T2 12373 (R1). T3 12414 (ATR)
Buy Call @strike (12310) for 3 @£10/point - risk £30. Close out trade before market close at 4:30 pm.
Summary of yesterday; Buy call yesterday spent nearly the entire day out of the money til about an hour before close when price took off, closed out at plus 3R (3x risk).
Reminder that this is on demo and that I've not traded options before and am still waiting for someone to tell me I'm doing it all wrong (which I may well be as the book I've ordered on options trading still hasn't arrived yet ) 😧
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Indices get a big bounce off news that China has not cancelled it's planned US visit for the 11th round of trade talks on May 9 - 10.
Dax & Dow
in Indices and Macro Events
Posted
Update of the daily chart, I was going to ask @Bell, was that why you were looking to trade an etf because of being US based and so no contracts for difference available?