dmedin

It's still selling off heavily, so considering a short to 596.

J&J is still in decline!😍

@nit2wynit Sometimes I just wish someone would come along and put me out of my misery.

I watch the trend on daily and weekly (rarely, monthly) and use 1 or 4 hours to time entry and exit. Buy signal: current price > 5MA (or EMA) > 20MA (or EMA) > 50MA (or EMA) Buy confirm/filters: increased volume, going in direction of trend Sell signal: current price < 5MA (or EMA) < 20MA (or EMA) < 50MA (or EMA) Sell confirm/filters: inreased volume, going in direction of trend I also look at the RSI for divergences

@nit2wynit Have you tried out the one hour timeframe? The best advice anyone could give you in respect of trading on minute charts is DON'T DO IT.

The most likely outcome is that it will go up and down or down and up, or vice versa, in rapid and random alternation.

I agree, day trading (minute trading) is based largely on luck.

I made a boo boo again. Should always respond to what the charts show and not go on feelings, huh.

A nice little 33 - 50% correction would be awesome, if 2495 is not broken in the next few days 😎

Could be the beginning of a good short brewing if we get a daily close beneath 2402. Going to have to redraw the Fibonacci so that it 'snaps' with the high at around 2500.

Reminds me of when I was finishing school, and the 'careers development' teacher asked me what I 'wanted to be' (as if 16 year olds are supposed to know what they want to spend the next 50 years of their lives doing). I was too honest and said 'I don't know'. So she gave up on me. Turns out I should have had a plan. Oh god! If only I had had a plan, everything would have gone exactly according to said plan. Woe is me! But for a plan, the world was mine for the taking!

The advantage of spending so much time planning and organizing that you don't have any time left over to actually trade is that you will lose less money. The organization skills you develop might even help you get a real job. Genius.

I think we could get a break below this 13115 level soon.

Although I have no interest in P/E or such, it makes sense to take a quick look at company fundamentals now and then. BlackBerry posted a modestly successful quarterly result recently and the subsequent selloff looks a bit sharp, so this seems like a good long to hold on to. A nice retracement to 850 doesn't seem unreasonable. (Disclosure: I am long. ) If it does drop further and stop me out I might then immediately open a short with a target of 657.

Getting some movement today after an evening star appears.

Yep, the M1 is way too sensitive and the candlesticks don't form 'real' patterns, just 'noise'. I find the H1 is the most sensitive chart that produces meaningful candlestick patterns.

Yes the chart loading seems to be much faster on PRT Java client than the HTML5 platform.

16 point spread on the IG platform. Must be one of those 'too good to miss' BUYS. The only way is up! (Till the next flash crash stops you out and takes your money before carrying on ...) 2802 is the 161% target and might be worth a shot with a stop beneath the 100% level (2400)

J&J seems to be stuck, it wouldn't surprise me if price shoots up again - 'do the opposite' - like how Boeing's share price holding up despite the presence of a troop of elephants in the room.

That's interesting. IG will charge us £30 per month if the value of our trades are 'very low', I presume that means under £30 a month. Does IG need to get more than £30 per month from you in spreads to make it free? The irony is that PRT lacks some features of the web platform, in particular tick volume which is an absolute dealbreaker. Overall PRT is much faster and fully featured, but again, placing orders isn't quite as intuitive as the web platform. We need 'one platform to rule them all'.

The GBP retrace that never happened ... lol

Web platform seems to be a bit slow at times (on a system with 5GB graphics card, Xeon CPU and 16GB RAM). PRT is faster, even although it's written in Java. lol!

Typical. J&J is going nowhere but everything else is selling off right now. Except Boeing, which is under investigation and facing multiple lawsuits. One ought to 'do the opposite'.

That's a really good question. Normally I'd move the stop loss just above break even if it moves far enough away in order to give it more room to breathe, and then occasionally review the trade to look for candlestick patterns etc indicating a reversal or pullback and try to take profits.