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DSchenk

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Everything posted by DSchenk

  1. PRT doesn't show you your balance. But PL shows via Trading -> open positions Looks something like the below (if you're down £30 on the day )
  2. You are possibly right. I usually don't believe anything I haven't seen with my own eyes. There are a lot of ugly things going on in big corporations, which they don't want normal guys like us to know... If it is as Casey and dmedin assume, then IG would have to wait for someone else (an individual) to sell the shares you buy and vice versa. IG only makes the spread. You make 10k, someone else loses 10k. Not sure that this is how spread betting works after all.
  3. Update. Finviz has earnings in their database. This looks suitable for my purposes. https://finviz.com/screener.ashx?v=111&s=n_earningsbefore&ft=4&o=marketcap Shows 5 tickers having earnings today, none of them land on my watchlist though. 2 are too expensive. Can't find one in IG. And the remaining two don't seem to have any volume.
  4. Not 100% sure on this, but if I was a spread-bet provider and knowing that 90% of traders lose, I wouldn't just make money on the spread, but actually play the casino bank against the traders. Meaning if the trader loses, I win. If the trader wins (1 out of 10 times), I need to pay him. But the good thing is, I only need to pay him 'on paper', in his account. So I only really lose, if the trader pulls money out of his account to his personal bank account. All in all, there seems to be a very low risk of losing liquidity as a spread bet provider. But as said, not sure how it all works behind the scenes. Just my guessing.
  5. Ok, I configured my platform for US open. Real test obviously will be once it opens, but here my findings so far. 1) US has a lot more stocks than UK. (Ok that was obvious ). Means I needed to tighten all my screeners, otherwise they pull way too many tickers. My Momentum screener only looks at ROC of more than 10% on the day Volatility screener more than 2% in last 10 minutes Top Gainers at more than 25% in last 3 days Top Dippers at less than -10% in last 3 days GAP scanner at more than 5% gap 2) IG seems to restrict a lot of stocks from trading. Some are only restricted on the short side, but a lot are restricted short and long. This is a bit painful when building the watchlist, because you need to check first if there are any restrictions on the ticker. I assume this is because US stocks are more volatile and IG needs to protect themselves from traders making huge profits. 3) No pre-market data available, except for a handful of selected major stocks (typically not the ones you want to trade). List here: https://www.ig.com/uk/shares/out-of-hours-shares This means no pre-market scanning possible with IG tools. 4) In order to get Level 2 data, you need to buy 3 data streams individually. One is called AMEX (US), one NASDAQ (US) and one NYSE (US). All 3 together are cheaper than the LSE stream, so that's positive. 5) Haven't found any suitable report which shows me earnings releases in the US for the day/week ahead. Best one I found so far is this one, although not the biggest fan so far. Will keep searching for better ones: https://www.thestreet.com/event-calendar/index.html On my watchlist for today so far: NTEC (short side restricted) MNK CVIA (short side restricted) AKRX
  6. Nice one thanks Casey. Bit more than 25 stocks available then, but not by a landmile
  7. I'm just configuring my PRT platform for the US. Even with L2 streams subscribed, you don't seem to get pre-market date, except for very limited stocks. Seems to be only a few big ones, like Microsoft, Apple, Google, etc. It seems like if it says "(All Sessions)" in the name, they have pre-market data, if not then they don't. According to this rule, there are only 25 stocks with pre-market data available. Doesn't help a lot. Probably need to use external screeners or screen on market open
  8. https://www.ig.com/uk/glossary-trading-terms/dfb-definition Daily Funded Bet - that's the regular ticker to trade for day-trading purposes, cause smaller spread, but overnight interest adjustments. Unless I'm wrong, then someone correct me please
  9. Are you looking at these 3 markets? US (minor) US (TECH) US (Wall St) I get about 23,000 results combined across all 3. Divided by 4, cause only one of them is the DFB, the other 3 are futures with an expiry date. Still over 5000 stocks.
  10. Glad you like it What issues do you have with developing on PRT? I'm configuring mine today to work with the US market. Will see if I have time today to look at US market open
  11. Thanks. With ProRealTime i'm having the options below. Trick was to set custom times in the last setting. As the Sunday candle is in the evening hours it is not taken into account when cutting of at 16.30 normal market closure.
  12. Morning everyone. Trading session today: Fell straight into the trap with the skewed pivots on Monday Thought I had configured my platform correctly with not showing weekend data. Although then found out as it was already too late, that this doesn't have any effect on the pivot points, they still calculate referencing to the Sunday data. LOL. Found the right settings eventually, so for next week should be fine. (note, the chart attached is showing the correct pivot points - not the one I traded on) 4 Trades, 4 Losses 1st Trade: Long, Loss Top breakout at market open. I thought we were already above the pivot point, so I went in long. In reality we were still below the pivot and consequently saw a rejection at that level. I got stopped out as the hourly candle made new lows. Down 12 Points 2nd Trade: Short, Loss Now we were breaking below the pivot, or so I thought. When we were approaching it from the bottom, I was going short with stop loss above the pivot. In reality, pivot was obviously somewhere else entirely and I got stopped out quickly. Down 20 Points. 3rd Trade: Short, Loss Decided to take another trade, even if already at max-loss for the day. (Rules and so, right) Short as it broke again below the pivot. Stop above the high of the previous spike up. Got stopped out quickly again. Down 30 points. That's when I looked up the pivot points online and found out where they really are 4th trade: Short, Loss Now that I had the right pivot points on the chart, i wanted to take at least one trade under correct assumptions. Saw a rejection at pivot and entered short. Reversed quickly and broke above pivot, where I stopped out. Calling it a day. Lesson learnt I would say. Don't trust the automated generated indicators without double-checking them first Have a better start in the week than me, all. Take it easy Dan
  13. Sure, as soon as market opens, the screeners will work. I usually added stocks to my watchlist beforehand which I know have news released on the day, like earnings and stuff. Usually a big likelihood for gaps and big moves afterwards. For UK market I always used HL for that: https://www.hl.co.uk/news/articles/next-week-on-the-stock-market Gives you a quick overview what's on the table for next week. Do you know where to get anything similar for US?
  14. Just looking at the stocks in your watchlist. All nice gap-and-go opportunities indeed. How do you find them? Just clicking through the entire NYSE from A-Z and seeing if there's a gapper anywhere? Even when using a screener, one potential issue is still, that IG is not providing pre-market data, like Ross has in his platform, right? Or can you activate that somewhere? Last candle I see in PRT is 20.59pm day before and then 14.30 open next day. So you won't be able to run any screeners pre-market, like Ross does every morning as he showcases in his videos. To work around that, I was using additionally the L2 platform and purchased the L2 datastream for LSE (which is like £7 per month). There at least you already see prices in the 10 minutes before the market opens of the auction phase. Not sure how this works for US equities, would need to have a look at it.
  15. Probably IG themselves don't have a fixed rule for that and use it as-and-when they see fit and want to charge someone for the platform. Sounds like a typical clause you want to put in a contract to secure yourself from not needing to drag non-profitable customers for years along the way. As i said. I never paid a penny for it in a timeframe of a year approx.
  16. I've never paid a penny for PRT. You have to transact at least 4 times per month. I usually do that in a day. Otherwise £30. I can recommend the platform certainly. According to IG: You can get access to ProRealTime charts at no extra cost if you transact at least four times in a given month. However, if you don't meet this requirement, or your trading activity is of extremely low value, then a £30 per month fee will apply on the last day of every calendar month. Agree, 20 trades per day are way too much and stressful. Sweet-spot, 2-5 ideally. Happy to buddy up on trade ideas or help out with setting-up the PRT platform, if you have any questions.
  17. Agree and very interesting. I've put pivot points on my chart now. Since then we saw 3 more approaches to the pivot point from below and 3 times rejected (although slightly overshot twice). Very interesting indeed. Thanks for the tip, Casey
  18. I do my analysis usually between 7.30 and 8.00am. So from that perspective the downtrend was already noticeable.
  19. Haha, thanks, but not half as impressive as it sounds. I know a few other programming languages, so this was peanuts to learn. Impressive is to actually become a profitable trader afterwards utilising those screeners - something I have yet to achieve 😊
  20. Hey nit2wynit, thanks for the comment. Let's get into it. US market open. Indeed, now that I'm no longer a slave of the 9-5 dynamics, I actually do have time to trade the US open. Might be worth having a look into. I keep this in mind. This month I want to certainly focus on the FTSE100, but if I don't see any light at the end of that tunnel, I might have a look at US equities at US market open. Good shout. Platform I use: ProRealTime with IG spreadbet account Timeframe I focus on: 1min, 5min, daily chart Trades per day can range anything from 1 to 10+ (my 'record' is around 20 a day I think, but my sweet spot is like 2-5 trades per day I'd say) Scanners I was using for UK equities gap-and-go and gap-reversal strategy (all self-built into ProRealTime using their coding language ProRealCode. If you are using the platform as well and interested I'm happy to share the code with you): - Momentum scanner, showing stocks with above average volume ordered by the largest absolute rate of change (positive as negative) on the day - Volatility screener , showing stocks with largest movements in last 10 minutes - Top Gainers over last 3 days, ordered by highest rate of change in last 3 days - Top Dippers over last 3 days, ordered by highest rate of negative change in last 3 days - GAP scanner, showing gap ups and downs on market open, ordered by highest absolute gap% I was using the Top Gainers and top Dippers before market open to add stocks on my watchlist, which looked interesting. Then the GAP scanner on market open to get all gappers. And then moved over to either Volatility scanner or Momentum scanner to watch throughout my trading session. One example where gap-and-go worked particularly well, was on the 3rd of June with Kier Grp PLC. Gap down by 25%, then falling another 20% on the day. I was in the game with 10 trades, 8 green. All short trades obviously. Another example, 17th May with Thomas Cook Grp PLC. Gap down by 6%, then falling on the day 35%. I was in with 3 short trades, 3 winners. The problem is, as you can already see at the dates chosen - these opportunities happen in the UK market once per month or so, whereas I made losses most of the days the rest of the month which outweighed the winners on these particular days. But maybe you are right and the US market has these opportunities almost on a daily basis, so probably worth a closer look into that.
  21. Interesting. I've not looked into Pivot Points yet, but will have a look at it, the next trading days and see if it works out. I'm determining short term direction by looking at trends and breakouts from those trends Bounces off or break through VWAP or EMAs Bounces off or break through key levels of support/resistance (high/low of day, round price values, etc.) For example, today we had this pre-market channel, trending upwards between lows of 7350 and highs of 7365. This channel broke at around 7.15 (before my trading hours) with the break below the 200EMA on the 5min chart. From there it continued to make lower lows and lower highs. Short term direction at market open: down-trend I then expected a reversal at the double bottom at 7330 (one of my positive trades today), however, I didn't expect it to be that strong and breaking far above the VWAP. I expected it to turn around at the VWAP at 7345, where I would've taken another short position with target at low of day and re-enter short at a potential break of that level or long at potential reversal. As I can now see a few hours later, in theory that is what has actually happened, just instead of reversing at the VWAP at 7345, it reversed at the 200EMA at 7352 and from there a nice 30 point move downwards with making new lows on the day. I had the right idea in principle, just slightly wrong set-up timings.
  22. Realised it might be better to screen-grab the entire trading window so that time and price can be seen on the axis.
  23. Hi, I'm day-trading equities on the UK market for about a year and a quarter now. As I never made any consistent profits with that, I recently started focusing on the FTSE 100 index solely and would like to discuss my (and others) daily trades on the index in this tread. Hoping to find some likeminded traders also trading the FTSE 100 index. Shout, if you are one of them! Before I start in, briefly my trading strategy on the index: (Not sure if this is according to TrendFollowers definition a trading plan, a trading strategy or a trading system or a mixture of all?) - The goal is to make 20 points per day, so for example catching a move from 7340 to 7360 - Once I lose 20 points, I'm out for the day - The 20 points can be separated in as many trades as it takes. 2 points here, 5 points there, etc. - The quantity is static for the entire day and adjusts only as a function of the account equity (So it adjusts only at major equity breakthroughs). I'm currently trading a quantity of 1 for every £400 in equity in the account. - Both long and short trades are allowed - Trades are only opened within market hours (8.00am - 16.30pm), however positions can still run outside of market hours (no need to close an open position at 16.30) - 5 min chart is the main trading chart, however 1 min chart and daily chart are open to keep an eye on What do you think of this trading plan/strategy/system? My trades for the day (13/09/2019; Screenshot attached shows the trades in ProRealTime😞 - Red day, max loss hit 1st trade was a short. Loss Saw the bottom breakout at market open and then snap back up to opening level, with reversal at 7340 resistance. I entered on the way back down at 7355. Only been in profit zone for 1 minute, then it shot back up and broke 7340 resistance. Exit, not a good start. Down 6 points 2nd trade was short. Profit After trading above the 7340 resistance it just broke, it fell back below it, where I re-entered. This time I was able to ride the down-wave and set my profit at day-break-even. Success. Back at 0. 3rd trade was long. Profit Double bottom was forming at 7330 support. I entered on way back up at 7334. Lot of consolidation made me nervous and I exited early with a small profit. Better small profit than small loss I thought. Up 3 points 4th trade was a long. Loss Then the index shot up, broke the 7340 resistance and the VWAP at 7345. I entered at a mini flag pattern for a break over 7350 resistance. Reversed at 7350 resistance and I got out at break of 7340 support. Huge blow, another one and I'm out for the day. Down 9 points. 5th trade was a short. Loss and max-loss hit. Day over Consolidating below the 7340 support, now acting as resistance. Bottom break out. I enter short. Turns out to be a false breakout and reversal. Break of 7340 resistance and I exit at break of 7350 resistance. Done for the day. Down 19 points If you also trade the FTSE100 index, would love to hear your trades of the day! Take it easy Dan
  24. First of all I'd like to say that I absolutely love this thread! Thanks to dmedin, nit2wynit, and obviously caseynotes for this elaborated discussion. I read a few pages like a few months back until I logged into the forum yesterday night and couldn't believe my eyes that the tread is still going! Love it guys. To add my 2 cents to this discussion: Similar to nit2wynit, I also discovered Ross from Warrior Trading about a year and a half ago and thought, that doesn't sound that hard and I'm a smart guy, surely I can do this as well. So after watching a few of his youtube videos and also read his book, I opened a spread-betting account with IG and tried my luck. However, as I couldn't trade the US market open, as in a 9-5 job back then, I decided to trade the same gap-and-go strategy on the UK market open. So along I went, built screeners and other tools to help me executing the strategy. Fast forward, one year later, I had exactly 12 month of losses and within those about 13 profitable weeks, the rest (probably around 30-35) negative ones. I just couldn't crack the **** nut. Then I had a new idea, which was to pull a lot of historic data out of the IG databases and calculate the probability of gap-and-go's actually happening in the UK market. Maybe it was a US phenomenon? (surely in the UK we don't see those 100%+ gappers for starters). So ahead I went, my data science skills helping me out here, pulling over 9000 data points, and voila, I actually discovered that a gap-reversal pattern is way more likely to happen than a gap-and-go in the markets I was trading. When refining the variables in my statistical program a bit, I was able to forecast gap reversals with a statistical success rate of 71%. That's 7 winners out of 10 trades, I thought. Happy days. Let's try that. So I amended my tools and strategy, to focus on gap-reversals instead of gap-and-go's. What can I say, another blow! I discovered, that while on paper the strategy works, it seems that also the market makers know about that and adjust the spreads accordingly, so that it is seemingly impossible to profit. For example when a stock closed the day before at 290p and opens in the morning at 300p, a gap of 3.4%, the strategy would set a target, based on historic data of like 292p, what would be a 2.7% profit margin. I could then see the stock opening at 300p and falling down to 290p within usually the first hour of the day, however the spread was typically so large, that the best entry I could get was like bid at 294p, ask at 306p or something like that. Meaning I would never be able to make a profit on this. What I would've needed was a bid of 299p, ask 301p. Then the stock falls to 292p, and I can get out at 293p. That's 6p profit or 2%. But spreads were just too large. I monitored this for a couple of weeks and then abandoned the strategy, the market makers just wouldn't let me win on this one. That was about a month ago in August. For some reason I can't quite remember, I discovered the FTSE 100 index and thought, why not give this a try. The first day I reached my daily profit goal in 45 mins. I thought, wow, is this finally it? The spread was laughable small, compared to the stocks I traded the year and a quarter before. Like laughable! Talking about 0.01% spread vs 2-3% before with those gap stocks. And the index is actually moving. (Often with the gap-and-go stocks, I entered my position and then they were just not moving out of the spread zone for like hours). So I was pretty excited as you can imagine. On my second and third trading day with the FTSE 100 index I also managed to make my daily target within the first hour of the day. All well I thought. I upped my account balance to really get started. Unfortunately, my luck (was it beginners luck?) didn't hold on long. The past few days I'm back at my usual losing streak (about 4 days of losses vs 1 green day). Guess I just need to keep trying - hoping that one day I find something trade-able for me. Might look into forex next. But for now, I think I'm going to start a new thread on this forum to discuss my daily trades on the FTSE100 index. Hope some of you can join me in the discussion. So to answer the question of this thread: Is spread betting for fools? No, I don't think so. I think the opposite is the case. It is for the 0.01% of the smartest asses in the population. A fool could never win here. Take it easy Dan
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