dmedin

Trading on 1 minute time frames is hairy stuff. Good luck with that - I wouldn't go anywhere near it.

I haven't taken the time to properly learn about EWT yet. It just looks as if it broken decisively out of a symmetrical triangle and will retest the low at 1.2436

He's tariff-drunk, like a drunkard out of control ...

All of this MT4/5 and MQL stuff looks fascinating. Intersection with computer programming. Looks like you would need a PhD to know about it

😂 To the original poster, if you go and have a look at the Technical Analysis thread you'll see links to free materials on TA. If you dig in to them deeper you'll see that the providers of the free material also offer subscription services for 'deeper insights' and that's where they actually discuss and explain the actionable information.

Maybe IG was right to be cautious. Google cracking down on apps that 'facilitate' the sale of cannabis. https://share.insider.thomsonreuters.com/link?entryId=1_rdk0l10v There is still an enormous amount of prejudice and ignorance out there. And I think that cannabis is still illegal in the U.S. at the federal level?

Murphy's book is fantastic but old (last updated in in 1999). He only covers certain topics with passing remarks in a few paragraphs, in particular pivot points and day trading. All this 'new stuff' is people telling you how to day trade using pivot points and other innovations that his book specifically doesn't go into. I actually prefer zooming out to take a longer term view and not being too fancy, but then again, I'm not a profitable trader. His chapter on 'automated systems' covers the PSAR and ADX combination. It isn't very good, from what I can tell. But it's better than using PSAR on its own, because it whipsaws like crazy.

If you have a huge deposit (i.e., you're already quite wealthy) then you can easily make a few hundred pounds a day from trading quite conservatively. (Only trading on really good setups and taking profits from a few points in your favour.) If you have a smaller deposit and you're under pressure to trade in order to make a certain amount, you will lose. 99 times out of 100. Guaranteed.

So I actually tried watching some of his videos, like everybody else these days he talks at a thousand words a minute, I can barely keep up and yes if you want the real details you need to subscribe and it costs. OKAY FINE I understand that nobody in their right mind gives away the 'good stuff' for free ... For example he shows where a downtrend breaks but says something about waiting for the new pivot blah blah blah and then concludes that it didn't really break the downtrend at all. I guess I need to learn what these pivot points are then.

In Murphy's book he recommends to use Directional Movement with Parabolic SAR, rather than PSAR on its own. In this way it works as a filter (don't buy if -DA > +DA and vice versa; a new trend is kicking in when ADX rises above 25 and trend weakening when ADX falls below 40) Is that still done these days? All this new stuff is hard to keep up with

Some big claims being made for gold right now. These tend to crop up and reappear on the internet quite frequently. Interesting, IG was originally called Investors Gold and came about after the international gold standard was abolished.

https://uk.finance.yahoo.com/news/johnson-johnsons-greed-helped-fuel-u-opioid-crisis-005725753--finance.html Lawsuit against J&J over the opioid crisis. Nearly 50,000 overdose-related deaths in America in 2017 alone. Article compares potential outcome to the settlement made with tobacco companies (>$200 bln) Might be a good one to short. Almost feel ghoulish profiting from things like this.

That's a nice thought but I doubt that the likes or you or I will ever really 'own' gold. If the world descends into chaos, do you think the governments of the world will let you drive up to the fortified bunkers where the gold is stored and take your gold out? I will try and read that report though it seems very naieve.

Steve Nison's book 'Japanese candlestick charting techniques' is really great if you like to have a printed copy in front of you, nice and easy to read and follow.

Sometimes I can be logged in to my IG platform for hours and sometimes (like just now) I get kicked out after just a couple of hours. I can log back in straightaway and it's usually not a problem. I understand why inactive connections get kicked off, but not why active ones do. What if I was just about to place or close a trade and got kicked off?

James, is it true that there are two 'books' of clients, the successful ones (A book) and the losers (B book)? I read that in an FX book by Anna Coulling. I find the idea quite amusing.

Excellent! It was actually from October 1987, not 1989 as I incorrectly thought. Seems that he thinks there will be a rather large drop on Boeing's price.

Thanks. Someone recommended me to study Boeing in October 1989, so I will look to find some historical data somewhere.

Anna Couling has multiple books published and a trading programme website, again, if you can get that kind of income from selling books and courses then it would imply trading isn't your main source of income. Or ... maybe it just means you are obsessed with trading and have no life outside of it Another one is 'How to day trade for a living', where the author tells you to go to his website Bearbulltraders.com and of course, you see that he is has a business which sells training, access to paid chat rooms and such.

Haha well I meant the leading lights like Steve Nison (candlesticks), Martin J. Pring, and the other big names who have successful businesses, widely-read books, and so on. I would be surprised if they spend much of their time day trading any more.

A better question to ask is why all the leading lights of TA abandon trading as a full-time profession at the first chance they get and go into training/mentoring/speaking/authoring instead. Could it be because they find it a LOT easier to make a sustainable income from teaching rather than practising? And if so, why? If I was making good money trading, the very LAST thing I would want to do is continually provide training, speaking or write about how to trade day in and day out ... why the hell would I do that when I can raise a family, travel, read and generally just enjoy life?

I can see monthly data going back to the late 1990s for those markets that have been around for a long time. Can we get access to historical prices going back further than that?

Why should there be a 'rally' of the pound? Boris Johnson is up next. Do you think he will negotiate a nice orderly exit from the EU? Trading on Friday was an absolute death trap. It could just as easily drop back down like a stone.

Because price goes up AND down, right? It never just goes up and never just goes down. You're nuts if you think there's a 50/50 chance of being right. It's easier to lose 10 trades in a row than to win 4 out of 10 or whatever. And just because you set a R:R ratio doesn't mean your winning trades will actually hit the reward target. If you're candlestick charting on shorter timescales you'll be exiting them anyway when big red warning signs show up. Don't overanalyse. A lot of it just comes down to LUCK.