TheGuru12
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Posts posted by TheGuru12
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On 03/08/2023 at 14:49, Jul78 said:
Day trading has been a challenging experience for me, and I've learned some important lessons along the way. Comparing it to swing trading, I found day trading to be even more demanding, particularly when dealing with lower time frames. Despite having engaged in over 100 day trades, I must admit that I am not an expert, and on average, I've faced losses. However, I believe in being honest about my journey, and I consider these losses as valuable learning opportunities.
Day trading demands quick decision-making, discipline, and a deep understanding of market dynamics. Managing emotions is crucial, as impulsive actions can disrupt a well-defined trading strategy. I have realized the significance of risk management and preserving capital, as it's essential for long-term success. Each trade has imparted valuable insights, irrespective of the outcome.
Preparation and research are key components of day trading. I've learned to analyze charts, identify patterns, and pay attention to technical indicators and market trends. Staying informed about relevant news and events has become a part of my routine. Maintaining a trading journal has proven useful, allowing me to reflect on my decisions and improve my strategies.
Day trading requires adaptability, as the market is always changing. What works in one situation might not be effective in another, and flexibility is necessary for survival. While the thrill of quick decisions and trades keeps me engaged, I've also learned to manage my expectations, understanding that consistent profitability takes time.
For newcomers interested in day trading, I offer some advice. First and foremost, focus on building a strong foundation in trading principles and strategies. Seek mentorship or guidance from experienced traders to gain insights and learn from their experiences. Understand that day trading is not a shortcut to wealth; it demands dedication, patience, and a willingness to learn from mistakes.
Starting with a smaller trading account and setting loss limits can help manage risk. Concentrate on a select few trading strategies that align with your risk tolerance and market preferences. Implement proper risk management techniques to safeguard against significant drawdowns.
In conclusion, day trading is undeniably tough, and my experiences have reinforced this truth. However, the knowledge and insights I've gained will contribute to my growth as a trader. Day trading requires discipline, market awareness, and emotional control. It's an ongoing learning journey that demands constant adaptation to market fluctuations. To those considering day trading, I advise approaching it with dedication, patience, and a commitment to continuous improvement. Success in day trading may not come easily, but with perseverance and the right mindset, it can be achieved.
The IG Index API certainly helps with alot of that.
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Post your code? Are you using Python? You have to add the correct headers I have some examples on my profile if you are using Python
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Detail would help
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What language are you using? Don't set anything when you are passing it to the API. Look at the conditions what you need to set.
quoteId looks wrong also do you need to set expiry? Even to DFB? Look at the reference guide it tells you the conditions of what you need to set.
https://labs.ig.com/rest-trading-api-reference
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Awesome work! I have followed you on Github.
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Don't use a DFB for this
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What about seasonal effects?
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11 hours ago, Frithat said:
March 2024- 68000$ +-))))
And it will be higher and higher))
Guess again
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I keep getting signed out of the iPhone app. I assume it's because of updates over the weekend.
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Who the heck is spread betting with a Credit Card!! There's a good reason why it's not accepted.
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These forums aren't that active compared to others, Try Reddit there's some very active communities which are pretty decent. I only come here occasionally.
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They should be from the market. One would hope anyway.
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Yep, I made it. Any questions let me know.
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I've developed an initial version of a market sentiment checker, which utilizes the concept of weighted log returns to gauge the mood of the financial markets. This tool is designed to simplify the complex task of assessing market sentiment by analyzing fluctuations in price data. By applying weights to log returns, it emphasizes the significance of certain data points over others, offering a more nuanced view of market dynamics. This approach allows for a fundamental analysis of market sentiment and provides insights into the current state of the market at any given moment. It serves as a valuable tool for investors and traders looking to make informed decisions based on the underlying sentiment driving market movements.
sentiment-sleuth - Github Link
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EUR/TRY would be an exotic pair and quite volatile at times so I imagine there's a higher margin requirement for erratic levels of liquidity.
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Yeah the API is limited in that respect. There should be a subscription tier that gives you more datapoints.
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Use a DFB (Daily Funded Bet) then it rolls over until either you sell it, or it hits the Take Profit or Stop Loss
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Automated trading reduces impulsivity too!
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v3 has never worked for me I am on v2 and that works fine. Possibly because the documentation is wrong.
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In what context? I don't think this is a valid question.
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Isn't it Delete in the HEADER not BODY?
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I had this issue yesterday actually, The API needs to be better documented. It seems to be abandoned but VERY helpful and useful for some of us. The only way I find out is by literally looking at the JSON responses as the documentation is out of date.
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Why do Traders say that DAX 40 (Germany) is the hardest market to trade, when it is the easiest?
in Indices and Macro Events
Posted
Two days? That's what you are basing your predictions on?