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Caseynotes

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Everything posted by Caseynotes

  1. Interesting educational series on Elliot Wave for those who may be interested. Part 1 here (with links to parts 2 and 3). http://winnersedgetrading.com/elliott-wave-explained-easy/?utm_source=Hootsuite&utm_medium=Social%20Media&utm_campaign=Strike%203.0#sthash.s7oNt1es.dpbs
  2. DailyFX switches from FXCM data to IG client data for their market sentiment updates. https://www.dailyfx.com/forex/technical/ssi/table/2017/03/14/trading-with-IG-Client-Sentiment.html https://www.dailyfx.com/sentiment?utm_source=Twitter&utm_medium=TweetRobot&utm_campaign=twr
  3. Interesting educational article on how to use the volume indicator to filter potential trades in any market. http://www.tradeciety.com/why-fake-volumes-in-forex-can-help-you-win-using-volume-in-forex/
  4. Hi  &  sorry if I have missed something but doesn't the Bid- Ask colour band (on price) indicator already do that? 
  5. Hi  The advanced charting platform is ProRealTime in the drop down list. Be aware there is a charge at the end of the month if you use it but don't make at least 2 round turn trades during the month. Even just a couple of quick scalping in and outs will do.
  6. Hi  Do you mean there is a discrepancy between IG's (a broker) prices coming through the PRT platform and the prices of another broker that you are using are using to place trades? If so can you take advantage of the discrepancy, potentially every traders dream.
  7. Just to follow up the last post, click View click Market watch right click on any pair click Specification. Look at Margin Currency In IG MT4 it is fixed on GDP but I think other versions maybe changeable? 
  8. I fired up the old MT Quattro myself a couple of weekends ago to test fire a couple new indicators I had downloaded, after not using it for some years it only took me a couple of hours to remember how to do the basics. Are you using the IG version MT4? Do you have pound symbols after the pair name? 
  9. This looks interesting. Market Profile indicator for MT4 & 5 ... http://www.earnforex.com/metatrader-indicators/MarketProfile/ 
  10. Hi  , sorry to say that  hasn't posted for a number of weeks now after he posted that he was having unspecified problems with IG changing some aspects of, and placing some restrictions on his account trading binaries. Looking back through the ASX thread it seems to me that some of his posts on the matter have disappeared (except the one where he praised IGs efforts in trying to resolve the matter, hmm). Sorry can't help further, hopefully someone else will pick up the thread.
  11. Market Profile Handbook from CME Group. Excellent resource, good theory, even if not interested in applying. I also notice ProReal Time also do a Market Profile chart but not on the IG version. http://www.cmegroup.com/education/interactive/marketprofile/handbook.pdf 
  12. Auction Market Theory Basics order flow, ranges, value areas, shake outs, break outs, no buy zones, profiles, volume profile, probability, etc. short slide series of basics. http://www.itradepod.com/education/valuetradingbasics Videos; Basics. Auction Market Theory, taught with a crayon. (10 min) http://traderkingdom.com/chart-patterns/4134-auction-market-theory-taught-with-a-crayon More advanced video; Reading The Mind of the Market, Trading Process. (1hr 50min. two presentations, usual Dante parental guidance needed) Tom Dante and Kam Dhadwar 
  13. You jogged my memory and I found a book with a whole chapter on 'Always In' strategy but I'll need to re-read it. (Al Brooks, Trading Price Action Reversals). I think IG must be always in if they are to hedge against clients open positions? And stating the obvious "most mutual funds ... and hedge funds remain close to fully invested .." meaning always in. (Al Brooks) The to do reading pile is building up. What on earth is cable up to now, very weak retail sales figures and it's yoyoing.
  14. Hi  The evolving 'R' through a trade is an important concept. As price closes in on target your potential reward diminishes but your potential risk increases. If price is looking to pullback just before my target I am quite happy to just close out. Why sit through a full pullback cycle (which may fail) just to gain an extra few pips and risk all of the gain made so far? The 'always in' strategy is intriguing and I have read about it before but there were no specifics on judging the turning points, an interesting one to trial on a demo.
  15. Yes, I was right. I am definitely going to have to learn a lot more about risk verses probability, and binaries for that matter too. I afraid am going to have to read your last post a few more times, have a think, and a quick study before I dare to comment further. There is a lot of real interesting stuff in there and you have rather left me behind. Though I do understand, as you say, analysing through intuition and the imperative to gain experience which cuts down the thinking time allowing faster decisions. Especially for intraday. Because, again as you say, these structures aren't as clear in real time. Blindingly obvious with hindsight. As you watch a candle turn into a spike you watch the urgency and the probability increase but so does the risk (if you intend to put your stop under it). I'm going to have to do more thinking. Coincidently this popped up this morning and seems to be along similar lines though I haven't read it in full yet. https://www.tradingtechnologies.com/blog/2016/04/19/when-is-a-long-shot-a-good-shot/ Cheers
  16. I have often meant to take the time to learn more about the direct, proportional relationship between probability and risk reward ratio. Probably less confusing to refer to risk reward ratio as simpley ratio, or R as risk will always be 1. So your stop amount is always refered to as 1 and then the reward can be expressed simply as R 1.5 for a 1.5 gain for example or minus 1 if you are stopped out. For the intraday trader higher probability set-ups often have a lower reward potential but most instructors will advise you to steer clear of low ratio trades, and yet advise you to stick to high probability trades, something of a paradox.
  17. Sorry  I completely forgot to reply re; what do people think about binaries. The truth is (in spite of my joke) that I have no education in and therefore would never offer an opinion on binaries. Which is why I am keen to follow your posts and please reveal more if you felt so inclined. Cheers.
  18. I must admit I'm not so interested in the amount of result (to coin a phrase) but in what you do, and how you do it? When it comes to binaries I can only think of that old joke, Man speaking to financial advisor: Man; My ex-wife tells me she's now trading binaries and making 10,000 a month. She says I should give it a try, what do you think? FA; So it was a messy break up then.
  19. Good to see you are back, would miss your run down on the Asian session to start the day if you stopped. Disappointed to hear of a grievance with IG. The world of the broker has always seemed somewhat unclear, I have heard IG reps declare IG only profits from the spread but other times they seem to infer they do 'bundle and hedge', presumably to offset large oneway market consensus and not actually for profit? The stats for the retail trader are pretty horrific already without your broker not being on your side (90% fail and 70% fail within the first year). It's an old joke that a broker is called that because that's what they make you but I do hope things work out amicably.
  20.  Do take notes, but also start a simple trading excel spreadsheet and really see what's going on - over many trades. That's the only way to truly evaluate your strategy. Winrate against Risk/Reward. If your win rate verses RR plots above the line you are profitable, if below - change your strategy.  
  21. And also implied negative rates OR even worse 'helicopter money'.
  22. I bowed out today, no trades, whiplash mania eurodollar, no-one knew what it all meant. Zero interest rates - whipsaw then higher euro? what?
  23. Good Thread, Zero + TheSurgeon, I don't follow indices though I know I should (and bonds for that matter) I'm presuming your talking spoos, I don't know the IG codes for indices. But you both seem to be talking sense, which is unusual and interesting. Keep it live, keep it going...
  24. BTFD = Buy The Failed Dip in a bull trend (or sell the failed rally in a bear trend). Waiting for pullbacks then entering when price reverses back to continue with trend. I don't actually use the signal centre, I just studied them for a while. 1:2 RR just means setting your profit target (reward) at twice your stop value (risk). Hope this helps.
  25. When I looked at the signal centre (some time ago) I thought they were quite slow to publish too. Though they do try to identify breakouts and the best strategy is to wait for a pullback after a breakout to Buy The Failed Dip (or sell the failed rally). Which charts? Always look for a trending chart to BTFD. Trouble deciding when to get out? Set a profit target and trail your stop to it, try a set risk/reward ratio eg 1:2 or 1:3, or maybe use a previous support/resistance level, or perhaps next significant round number (50s or 100s).
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