dmedin

Yes, I can just leave it to do its thing. I will exit if prices goes back above the 'pivot'!

Gold dropped today and silver went up. huh?

🙈 This is too much for me to handle!

Let's have a wee flutter.

If it makes a clear drop (earning call tomorrow) then we have an immediate target of just under (or just over) 12000

Well yes, there is that. Poisoning babies and addicting tens of thousands of people to dangerous opioid drugs ... but big corporations have a long history of bouncing back from these 'mishaps'.

That 'game' sucks. It's pure gambling and nobody but a billionaire with cash to burn can live that way.

Excellent! Thanks

I imagine it is manipulation by the big boys. I see what you're saying though. Probably best to stay away from it and not to trade.

Rising wedge or getting ready for a big breakout to the upside?

Several brokers have raised their 'target price' to ridiculous levels, just as it seems that a lot of people are taking their profits and running. Coincidence?

90% of IG clients are long ... hope they enjoy losing money.

Let's see if it breaks support beneath 13200 ... if so could be in for a big drop. Alternatively, it could bounce and be a great long.

@Caseynotes Nah, not certainty. I'd just love to see someone handling a chart in real time so I can analyse their thought processes. It's fairly easy to learn TA and present analyses or opinions of charts with completed patterns (if I can do it anyone can) but trading in the moment is not easy.

I tell myself the same thing every day about my student loan. 'I got screwed with massive debts but at least it trained my mind to think analytically.' Oh the lies we use to console ourselves

Theory is easy enough to understand, but putting it into practice isn't. Just because a price breaks a previous high doesn't mean it won't stop and go into reverse. To be honest I would rather see someone analyse charts in real time than present a completed pattern chart (a hindsight chart).

I haven't done systematic sector analysis. I have been trading opportunistically. To be perfectly honest, I haven't found a reliably profitable way to trade yet and if I am going to get into detailed sector analysis I might as well become a fundamentalist and try to get a full time job doing that as a living instead of trading off my own account. That seems to be what all successful people do anyway.

@Mercury Is it easier to trade indices over individual stocks?

' The basic premise is this: trading is hard but falling prey to ad hoc shitty pseudo-gut-instinct punt trading is easy. ' I'm looking for the HOLY GRAIL. That is, for someone to tell me something that we don't all already know.

Slow assimilation with occasion setbacks of heavy indigestion.

More than four months of heavy declines in a fledgling industry ...

I've got a ton of books on trading, several of them from the recommended reading list of the Society of Technical Analysts diploma. I have also picked up good resources on IG and recommendations by users here. I'm pretty much saturated with info and have reached my limit until I have absorbed it (Elliot Wave Theory is still slightly cloudy for me me and I have no interest in Ichimoku stuff). As for asset appreciation. Hell, I don't even know if my flat will go up in value in five years' time. Everything is uncertain. Most people stick money into funds managed by other people and expect to make a profit by the time they retire. I find that idea hopelessly boring.

@Mercury Does my pathetic attempt at wave numbering make any sense? Could BATS.L be about to decline again?

Rational markets? 🐮