dmedin

It is total garbage - avoid it like the plague

Buy and hold!

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Just imagine someone who works in IT and is attempting to be a trader. The two most frustrating and hopeless professions at once. Wow.

'Trading only 50 times a year limits your P&L' 'Trading 500 times a year lets you exploit your edge' Pretty much goes against all professional wisdom on the subject of trading. 'The more you trade, the more you lose.'

Just listened to the Jack Schwagger podcast. Typical BS: Stick to the rules and be disciplined! Except when it stops working - then change the rules! Know the market! Limit your losses! Analyse every trade - that will help prevent you losing! But everyone loses throughout their career! It's all about losing less frequently! Blah blah blah ... In other words, 'To hell with this ... I'm going to get rich by writing a book instead'

I wonder what Britain's cannabis policy will be with a big Conservative majority and we've kicked out all the foreigners and sold the NHS to Donald J. Trump ... Do you think Priti 'Bring back hanging' Patel cares about those kids that need medical marijuana, let alone people who want to peacefully smoke in the privacy of their own home? No chance

I like the fact that the analysts focus purely on money and profitability without getting too political. That's what we want to see. (After all, why are any of us here except to make money ...)

Gold apparently. Anything with 'mass public participation', i.e. anything that a lot of other traders are applying EWP to. I'd be very surprised to see anyone who has been using any kind of TA successfully for 10 years come on this board, after all 'why should they' lol when they can sell analysis for a living instead of giving it away for free.

Yet again I think you need to have recourse to RealTimePro to make this work. BTW, the RTP platform for me 'feels' different from the Web platform. I see things differently when using it, even the P/L is different. Anyone else feel that way? The IG Web platform is pretty naff, and even the IG analysts don't use it. IG, as a courtesy to your users you should make RTP access free for all and not have the cheek to charge for it when your web platform is so wonky.

S&P has tested that trend line and is now blasting into outer space. 🥳

Is this a good price to get back in long?

No technical trader can (will?) demonstrate such a thing. To the best of my knowledge, all technical traders start out working for big companies that can make good profit (in absolute terms) from very small price movements since their existing capital is so large. If they ever make it on their own, it's because they're already made a lot of money from salaried work. Even then, they only ever commit a small proportion of their own capital to trading and they always 'top up' their funds with other offerings (teaching trading, giving speeches etc). The Fibonacci ratios are often useful and some of the EWP ideas can help give you an idea of where to go, but consistently? Don't know about that.

This is so funny, what you've just described is TA in a nutshell - not just EWP.

@CharlotteIGDid you fade yonder fakeout? 🤔

It's consistently making higher lows, there's too much buying pressure to allow this to make any serious drops. Interesting how a California company's negligence causes 80+ deaths and it (rightfully) is sued into administration and (hopefully) nationalized, but Boeing's negligence kills 300+ and it just has to make a small payout and carry on as normal. 'Too big to fail'

A bounce back up to around £1 per share does not seem unreasonable and would only be a small retracement (38%) of the precipitous drop.

🙀

Is it safe to come out now?

Retail traders get to fight over leftovers once the big piggies have filled their bellies.

This is just buy the rumour, sell the news ... Think you have to be in Trump's inner circle to benefit from it.

Massive swings and bearish candles forming on the hourly chart. Untradeable

Oh dear ...

Maybe it's on the turn. A close above 50 SMA would be good. No 'catalysts' though. No 'compelling story' or 'castle in the air'.

Why? Money comes out of U.S. treasuries and safe havens and into 'riskier things'. And isn't the Fed about to start pumping 'half a trillion' into the free-money trough that all the big banks have their snouts in ...