dmedin

https://www.prorealtime.com/en/help-manual/quick-tour

lol it's a nightmare to use. There's a manual somewhere but it isn't that helpful

Seems like most days are bad days when one is 'day trading'

Are you taking into account the volume? That was a really strong signal to go long and stay long just after 08:00. Such a big spike in volume means it's more likely to be valid.

They buy and sell actual shares in the U.S. but they are still doing it on leverage. Not really sure how it works there though. I think they are genuinely 'borrowing' shares from their broker so they can end up going heavily into debt? If it's legal to drink oneself to death, or blow all of one's money in a casino, it should be legal to SB it all away too ... I'm sure the regulations are not for our benefit but for the benefit of the professionals and the big boys. 'Leave it to the professionals, they know what they're doing. 97% of these retail punters lose cash and are really just a small nasty stain on our esteemed industry.' And CFDs are only open to rich 'professionals'.

Are we there yet? Nope.

PRT's design is absolutely hideous.

Playing ****'s advocate here - at least Ocado produces something of worth. (Plant, machinery, goods, provides jobs and a valuable service i.e. food delivery etc.) Comparing some bloke starting up day trading with some savings to a small business doesn't really cut it. And yes, I 100% agree that it is virtually impossible to make a living from day trading. I would LIKE to believe that it's possible to make more than a 2% return by trading (this is what you'd get if you put it into the most generous savings account available today), but so far even that looks dubious.

I'm very tempted to buy that book, because Elliot and Prechter's is really out of date and written in a strange, disorderly manner.

Look at how nicely U.S. oil bounces off the Fibs on a weekly chart. It's a thing of beauty.

This is a series of 'bootcamp' lectures, incredibly longwinded and you can tell from the guy's voice that he has experienced years of pain and frustration and he just knows it will never end. You have to wade through hours of waffling before you get to the charts.

This is an entry signal to go long:

https://www.amazon.co.uk/Five-Waves-Financial-Freedom-Analysis-ebook/dp/B005JC5WWU/ref=pd_cp_351_2/258-0480838-1691303?_encoding=UTF8&pd_rd_i=B005JC5WWU&pd_rd_r=165d7444-d804-4850-b268-71bd4e5879f6&pd_rd_w=oFamc&pd_rd_wg=8mvvk&pf_rd_p=01704ebe-a86a-4b47-8c36-0f9f5bbc2882&pf_rd_r=2945F6DCXDGH2W1BD9GS&psc=1&refRID=2945F6DCXDGH2W1BD9GS#reader_B005JC5WWU Check out the preface, the guy makes some pretty wild claims about himself including a defunct link that was supposed to be Forbes calling him one of the top three EWT theoreticians in the world lol! I know that everyone has to bullsh!t these days - not just to sell books but even just to get an ordinary job - but if he was able to call markets that perfectly would he really be spending his days writing books on it?

lol, be aware that the vast majority of the business world and the entirety of academia regard TA as little better than palm-reading and astrology. Always be sceptical and don't let yourself be bullsh!tted. As I say, check out IG's trade of the week and see how well IG's best analysts perform. LOL!

(H+L+C)/3 or (H+L+O+C)/4? 😕

lol trading futures avoids the overnight charges but it is hardly trading without leverage.

I forgot to mention: if you can land a job as a professional technical analyst you can get paid to do charts for your clients (traders) which results in a good income without having to commit your own cash. Same goes for all those 'subscribe to our trading tips/newsletter/secret insider forum' services. Hell, you can even be consistently wrong (see IG's trade of the week) and still get paid. Result!

It certainly doesn't look like an attractive short at this point.

Is it worth it to keep learning? I hope so. It's not like learning about other professions, where you are reasonably certain that being more knowledgeable about law or medicine or electricity will make you a better doctor, lawyer or electrician and result in an guaranteed income as a practitioner of a valuable trade. You might learn a lot about markets and trading, but it isn't going to guarantee that you make any money. It is completely known, a risk not only of your money but more importantly of your time. The payoff is not only unknowable, but you might not even get a payoff. I've heard people say that it took them 'five years to become consistently profitable over time' - are you willing to dedicate years of your life to something that might fail and collapse at any minute?

No one can really answer this, and the only reason I can think of is that people are ashamed of the fact that they have lost a lot of money and are worried that it will happen again. I've yet to see a single 'trader' who didn't quit trading as soon as a more reliable source of income came along. Hence I am currently extremely doubtful that it can beat a simple buy and hold strategy (buying ETFs in a FTSE 100 or S&P 500 tracker, or investing in a managed fund etc).

I doubt any company could get away with doing that under FCA regulations. Could be wrong...

Yes, but it's also clunky (IMHO), overly complicated, very outdated design (from the 1990s) and doesn't provide any tick volume. I do wish there was a single platform that combined all the best elements of PRT, Web etc.

Not possible to the best of my knowledge. You might as well just buy and sell shares/ETFs.

Well I only just got it myself, had a quick flick through the section on TA and he isn't a fan. Will need to see what the rest of the book contains, and what he recommends instead

Oh dear ...