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DSchenk

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DSchenk last won the day on November 7 2021

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  1. You mean April & November this year? Yeah, in April I was re-starting with a fresh mindset, process and approach to the markets. Essentially incorporating the learnings I noted earlier. Stopped "day-trading", started looking at longer timeframes, stopped looking at positions in isolation and instead started building a portfolio with up to 10 long/short positions. And November (this running month), there's a strong spike-up in the PnL because I closed one of the positions I've been holding for a few weeks, which was my largest winner to-date.
  2. Since this is still my all-time-favourite thread, I've decided to continue here 😀 Admittedly, haven't logged into this forum for about a year or so. Just had my head down and was grinding. Countless of hours in front of the screen working on my craft. Read about 50 trading/investing books, hundreds of articles in the internet, forum posts, blog posts, youtube videos. Thousands of hours of thinking about the market. In any case, it just so happened yesterday, that I finally broke above break-even on my account. Guess IG is going to close my account soon now, they can't have that lol 😉 So here's a quick recap: First trade in this account on 02/03/2018 1345 days of trading (well not really, cause of weekends and stuff, but that's the timespan in between then and now 😉) 1956 trades closed 945 profitable (48%) Total Profit of profitable trades: £19.4k 1011 non-profitable Total Loss of non-profitable trades: £18.5k Net Gain: £900 (Or £600 according to the analytics tool below, not sure what's correct, transaction log shows £900) 2018: -£544 Net Loss, 447 Trades 2019: -£1413 Net Loss, 860 Trades 2020: -£1223 Net Loss, 292 Trades 2021 (so far): £4077 Net Profit, 357 Trades Interestingly, in 2020 I came really close to Break-Even once, in fact just £26 short of BE, but then lost it all again and some more. I was on a better track back then, than before, but still not the right track. Really only since April this year is where things started to look better and I got some consistency in the game. Since April I only had 2 loss-making months (Aug, Sep), but these were only small losses compared to the gains before and after. So where does the journey go from here? I obviously hope to stay in the profit zone and finally add some serious profits to this account. Steadily growing the account until I'm at a point where I can withdraw part of the profits each quarter to invest into other ventures. Key Learnings from 3.5 years of trading: Forget about trying to make 20%, 50%, 100% gains per month. You might pull that off once or twice, but the amount of risk required to do that is ultimately going to blow your account. I'm aiming for 10% return per month now which I'm confident can be achieved on a long-term basis Forget about trading on 1min or 5min charts for the most part and closing out your trade every hour to put on a new one (daytrading). I'm not saying ignore the 5min chart all-together, I sometimes put on positions on the 5min chart, but only to find a good entry point. My analysis is done on the hourly and daily chart and I'm holding my position until the hourly/daily chart would suggest otherwise. Forget about trying to pick one market or one subset of a market and only trade that day-in and day-out. Like I hear people (including myself back in the days) say all the time "I'm a forex trader" or "I trade US equities" or "I trade the gap-and-go set-up" or "I'm a trend-follower". Nowadays, I trade everything across all asset classes: Stocks, Currencies, Commodities, Indices. Whatever is moving and has a valid set-up. I trade trends, but also counter-trend movements. I go long, I go short. I buy into fundamentals, but also do pure volatility plays. I hold positions for weeks and months, but sometimes only for days. Rarely, if ever for less than a day. Forget about looking at a trade in isolation. I now build portfolios and manage those. I have about 10 long-short positions open at a time and use portfolio management techniques to manage the risk on a portfolio level instead of on any one individual trade. That way, if a trade goes against me, I don't lose my ****, but can apply counter-act measures to re-balance my portfolio. Lastly, forget about what day of the week it is or day in the month or your running PnL and trade according to that. Like, some (including my past self) might take a profit on a position because it is the end of the month and they are still short their monthly profit target and closing that trade would take them above it. You're missing the bigger picture. You rather want to have a month with smaller profit or even loss-making than getting out of that trade too early, when the market doesn't suggest that yet. Always trade the market, never your PnL. That's it from me folks. @dmedin @nit2wynit Hope you guys are doing great, too. Catch-up soon ✌
  3. My royal dutch shell dividend has been removed via CONTRA divi now as well. Thanks IG 😁
  4. Now I have received my BP Dividend, but the CONTRA BP Dividend still remains, so essentially I come out at 0 What is going on @CharlotteIG?
  5. I just had this happened yesterday, but not with Royal Dutch Shell, but with BP. But Royal Dutch Shell I seemed to have recieved the same dividend again, as I already received on 17/12. IG never stops surprising lol - how weird is that
  6. you can just pull this yourself via the API - that is if you know how
  7. Isn't this the old roulette "strategy" where you bet on red or black. Bet $1, lose $1. Bet $2, lose $2. Total Loss: $3 Bet $4, lose $4. Total Loss: $7 .... Bet $256, Lose $256. Total Loss: $511 Bet $512. Win $512. Total Win: $1 Works 100%, except when it doesn't and red comes out 50 times in a row, whilst you are on black
  8. I'm not so good with C# Are you using the IG API datafeed or something else entirely? I've built a few VBA applications using the IG API - didn't help me turning over a profit though
  9. Would it not make more sense and be much quicker if you backtest this, instead of forward testing? Who wants to wait til June 2021 to see the outcome ha And with backtesting you could easily go back to the 1950s, not just do 1 year I like what @jlz is doing there - what platform/tool you using for backtesting?
  10. Hey, who said we're buddies I'm just somehow seem to slip through the net of insults, probably cause I'm just popping into the forum once every couple of months, then going back undercover - doing the actual work lol
  11. Anyway, I think my decision is made. 1) Going back to UK market. Two reasons: a) More familiar with the market as I'm also an investor in the UK, so I roughly follow what's going on with the general market sentiment b) Daylight saving time is coming soon, meaning US market open is here where I live at 10.30pm at night (back one hour from 9.30pm). While trading from 9.30-10.30pm is reasonable, trading from 10.30-11.30pm is quite a stretch. While UK market open is around 3pm/4pm (with DST) which seems a better time 2) Identifying tickers with the following fundamentals - Either unprofitable or PE ratio > 20 - Book-to-market ratio well over at least 2 - Price up at least 100% in the past 12 months There won't be many tickers at a given time available which meet that criteria plus are eligible to trade with IG. Looking at a stock screener I see 36 tickers which are 100%+ up in the past 12 months right now on LSE. Probably about 5 are tradeable with IG. 3) Technical Entry - Established high of the current move - Trading on hourly and daily chart (opposed to 1min and 5min what I'm doing right now) - Entry on red daily candle making a new low vs previous day or bear flag or flat bottom break-out 4) Technical Exit - Stop-Loss at high of the current move + Spread - Taking profits at 1:1 risk/reward ratio - Moving stop-loss to BE when 25% of target price is reached I just exercised this through for BATM Advanced Communications. This one would've met the fundamental criteria since May 2020 and I count 7 trades which met the technical criteria since. The result (starting with a £1000 account and assuming I would've only traded this, which obviously wouldn't be correct as there were other similar opportunities in the market since then): £2048.30 in profits over 34 days invested in the market (out of 109 days in that timeframe, that's 31% in the market) 3x would've been out at BE, 4x in profit. Marked the 7 trades in the chart below. What do you think?
  12. Yep, something similar worked for me earlier this year in May/June. I was entering only 25% of my full position first, then added another 25% on the next signal and so on until being fully invested. What I also did was, every time I added another 25%, I moved the stop closer to my entry as well as the profit target. So for example first entry at 400, stop at 600, target at 200. (Short) Then second entry at e.g. 450, reducing stop to 500, target to 300. Third entry at 400 (when it is going down again), stop now at 466, target at 333. Last entry at let's say again 400, stop now at 450, target at 350 and I ride it. That way my £ risk/reward was always the same, I just moved it around depending on how much I scale in. It worked very well until it didn't and I lost half my account within 3 days in early July. Essentially, I had 3 open positions and all went simultaneously against me and took me out. Since I was searching for a slightly adapted system, that is less prone to taking half my account in a short period of time.
  13. And last one for today: Fresnillo PE: 74 Book-to-Market: 4x Up 100% YTD High of the current Move: 1379 Current Price: 1343 Target Price: 1000 Trade Entry on the break of the Flag which is currently building Stop: 1407 (above the high of the current move) Target: 1010 Risk-Reward: 1:4 What do you think?
  14. The good thing is, with trades like this you only really need 1 to play out over 2 months and you already got your 50% account growth avg per month. Problem is, how to protect yourself from losers, but in theory I would move my stop-loss to break-even as soon as it trades outside my entry range.
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