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RichB-Trader

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Everything posted by RichB-Trader

  1. Hello, Thanks. I have a full 50 page trading plan, overall stratagy and spreadsheet auto calculating what risks there are as well as a full trading diary. However I am still demo account as I want to fine tune my system before I go live. Maybe my question is badly phrased, maybe it should more be, does anybody have any useful sites or sources of data that give a perspective on the macro market. Breadth, sentiment, news etc?
  2. Hi, I trade US and UK equities in the FTSE, Nasdaq and S&P 500 (so all large cap) generally companies I understand there business without having to research. So typically anything from Lloyds bank, to nVidea, MGM and Persimmon. I look at around 40 stocks every day. They are all cyclical and non cyclical stocks, defensive and growth so I can see how they are all trending. My entries are based on technicals only, Patterns and volume but with a few of my favourite indicators overlaid. The main reason for my initial question is of course news and overall market sentiment influence the equity market. Generally happy with my trades but wondering if any other good data points should be included like Advance/Declines, COT Index. Trying to get ahead of those days where a trade goes “the wrong way” without notice but in hind sight there were some clues. So I guess an open question to all, what things (other than Price/Volume) do you look at? Hope that all makes sense, and thanks for your help!
  3. Hello, Thanks for your questions. I am 100% equity trading, and don’t intent on trading from the news as I am not sat infront of the computer all day in order to do this, nor do I have instant news feeds from paid subscriptions. My thinking is other than looking at price,volume and patterns what else should I look at. I use news feeds to inform me of sentiment etc. For example Facebook is very much in a bull flag however news this week means getting out of a long position may be worthwhile as the risk is mounting up. I guess the question is what else should I look at, such as COT index which @Caseynotes kindly pointed me too. Perhaps Advance/Decline (breadth) data would be another?
  4. Hi, Am I right in saying anything below 0 is short selling bias and the “Smart” money is the large speculators? Also can you get a COT for the FTSE? Thanks
  5. Hello, I am currently on a Demo account (and have been for 6 months) whilst I learn the ins and outs of trading. I have got decent consistent returns now, some losers but with Risk:Reward my winners keep me profitable. I am using technical analysis, mostly price action/volume with pattern analysis for my triggers, with MACD/RSI and MA’s providing a strength of the move risk to allow me to vary my size of trade. My question is other than the stock and the indicie such as FTSE or S&P 500 analysis is there anything else I should look at? I keep an eye on the news, Bloomberg/CNBC etc. Analysis the indicie, but I am keen to try to spot the macro trends and turning points. Thinking looking at things like market breadth for indications, which I can get from Barrons for U.S stocks but not UK (?)? Anything else worth taking a look? Thanks all!
  6. Forgot to ask, where are you streaming CNBC from? The online website doesn’t seem to work for me.
  7. I have found if you use Apple TV then you seem to get it free unlimited. Or just clear your cache and re launch the viewer
  8. Hi, Like the idea! But first where do you get the sentiment data from for indicies or stocks? Can’t seem to find it? Thanks.
  9. Is meta trader 5 roadmapped to be supported by IG? Would be great is you could as meta trader 5 allows for browser access rather than software so I can get it on my Mac. Thanks.
  10. Hello, Can I request a few more keyboard shortcuts for the IG app. I know we have Open and Positions but items such as Drawings Toggle On/Off and switch between layers would be a massive time saver. Thanks IG!
  11. CaseyNotes: Very good, 2 it is. I assume that software is MT4?
  12. Hello, Sorry no I meant have a physical moving average ontop of the volume bar chart. That was I can see if the days volume is more or less than x days moving average. Thanks.
  13. Hello, Can I request a simple moving average be able to be applied to Volume on the IG platform. I imagine you can do this on PRT but as I can't use that on my iPad I use the IG platform. Thanks.
  14. Thanks, takes a bit of getting your head around it but think I am there. So does that mean the last and lowest transaction price would have been at 145.85? Hence why when I look at the bid chart it has that number? Or is it not that simple?
  15. Hi, Thanks I will have a good look at that video. Am I correct in my logic that in my example some point yesterday there was a sell price of 145.85, at that same moment there was a buy price of 146.23. Meaning somebody actually sold at the lower 145.85? But after that the bid prices went up. Understanding it would be by the second bidding but the lowest price sold was the bid price at 145.85?
  16. Hi, Thanks. So if you don’t mind can I do an example so I fully understand. If I take the candle from Vodafone yeaterday, it showed for it low: Bid: 145.85 Ask: 146.23 Mid: 146.04 Does this mean that at some point yesterday there was a sell price of 145.85, at that same moment there was a buy price of 146.23. Meaning somebody actually sold at the lower 145.85? But after that the bid prices went up. So therefore let’s say the resistance I found looking at the mid market price was exactly 146.04, for arguments sake it is not a zone as you showed. Does that mean I should actually look at the bid price and short just beyond there as that is the lowest price somebody paid. Reason being I haven’t been doing that, so when I trade support and resistance breakouts just beyond the highest or lowest price I end up opening the trade then it at times reversed just at my entry point. Having back tested there seems to be a few examples where if I had used the Bid or Ask price rather than mid market it would never have opened and therefor not made my losses. Thanks for all your help.
  17. Thanks so much for that, really helps. Are the bid and the ask prices what’s in the market, I.e the lowest price someone will sell and the highest price someone will pay. Or is the mid market the actual last price paid on the market and the bid and ask is the spread where IG make the markup. Thanks.
  18. Hello, Thanks, that makes sense. What is a price ladder or is that just a metaphor? I seem to be sometimes just triggering the order then it retraces the counter way, however sometimes I set it higher and miss out on profits. I guess this is the art of technical analysis.
  19. Hi, thanks. The system is IG's trading App. I had a look at the Ask and Bid prices, so thanks for that. When I click them all the bars move up and down as you would expect. So I guess I need to look at my Mid market price on the chart and add or subtract (depending if I am going Long or Short) away the difference to the Buy/Sell Price. For example if I wanted to go long at 1000 points (this being the resistance level found when drawing on the mid price chart). If I was putting in an order to be filled later and I knew the spread from Mid to buy was say 10 points, I should go in at 1000 +10 points minimum. The opposite is true for going short once through support.
  20. Hello, Pretty obvious question but just wanted to check. On the attached image I have annotated an example of trading a resistance break on Sainsburys. I would normally identify the resistance then put my entry above this with some clearance for fakeouts, in this case it was 0.75 of a point of clearance. As you can see the trade opened before it got to the line, I assume this is because it has reached the buy price, due to the spread. See circle in top right corner. If so am I right that on spreadbetting I just need to allow for my clearance plus spread, therefor put my entry a bit further from the resistance point? Thanks all.
  21. Thanks Also simple things like trailing stops and multiple scaled entries, as well as some more indicators like OBV or Chalkin Money Flow, PRT does all of these. If I was IG I would develop the in house app ASAP, then they can cancel the subscription to PRT for IG and save some money. Then everybody could in effect have PRT functionality on all devices.
  22. Hi, That's a shame, so it means we cannot get PRT on an iPhone/iPad etc at all in the near future? It would be so useful to be able to have this when you need to do trading away from the desk, or if the IG Native App can be improved. Do you know if the development road map includes getting the standard IG app to auto plot support and resistance lines like PRT does? For me this is the main thing PRT does that is advantageous.
  23. James, Having a look on PRT website they off PRT on iPad/iPhone. I emailed them and they said its just IG haven't signed up to the mobile version. With the advancement of mobile devices it is a bit of a miss for IG not to offer PRT on mobile when it is available. Please can you advise if IG will look into getting the PRT App so we can use it? That or if you can improve the IG App where it offer teh PRT functionality, such as auto detecting patterns & trends for example.
  24. Hello, Thank you for your detailed reply, it was very useful. I am trying to get to the bottom of are CFD's less risky (less like gambling) than Spreadbets. I assume all things being equal, same position, bet/contract size, stops in place, risk management they are both the same risk and therefor both "gambling" to a degree. It sounds like spread betting has a reputation for people just guessing what the market will do rather than doing analysis etc, therefor it comes across as more of a gambling tool? By the way I like the sound of Spread Trading!
  25. Hello, Thank you for that. Can you help me with why Spread Betting could be classed as more Gambling, given both instruments you are betting an amount on the market going up or down? Also with regards to proper risk management I assume its the same risk as CFD as if the market moves against you say 5% for the same size bet / contract you will loose the same amount? Thanks.
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