dmedin

I got burned with day trading, it's not for me. I'm attracted to the long-run and swing styles, pretty much the approach that is laid out in John J. Murphy's 'Technical analysis'. Some of the things he says don't seem to be widely followed nowadays, such as verifying breakouts and head and shoulders with volume and patterns having more significance the longer they take to form. I like to have looser stops and bet less per point. TUI attracted me precisely because it was trading in a nice range, so you can short at the top and long at the bottom, but if it comes out with good earnings and breaks above the range then it's a good one to buy and hold. Scanning for stocks with high ATR and trading on 5 - 15 minute charts is too much for me. 🤒

I'm actually finding the PIA First suggestions useful, when comparing carefully with my own analysis, rather than simply agreeing with everything. I'm sure it's right more often than I am though. 😋

TUI is one to look out for next week as it reports earnings. It failed to break out of the range and would have been a good one to short, if it were not for earnings coming up soon.

Yes indeed, trend is no. 1. I should have stayed on the JD Sports bandwagon as it was clearly demonstrating strength. It had a strong buy rating from all the big investing companies since January. Sometimes there is such a thing as a no-brainer in investing I guess.

lol. Gambling is addictive tho.

Right? But the 20, 50 and 200 SMAs are all pointing up. Only a stupid fool (i.e. me) would pre-empt the SMAs and go short right now?

I got stopped out of JD Sports on the infamous 'flash crash' day, but also I didn't really hold my nerve and took profits on an earlier position far too early. So I've been eagerly waiting an opportunity to go short on it to get my 'revenge'. It's been on a really meteoric rise all year but there must surely come a point when it stops rising?

IG seems to have a 'bullish bias' towards buying gold. JN often has guests on talking about the 'inevitability' of gold rising. 🤣

According to the market info, less than 10 IG clients have a position open and they're all long. What could possibly go wrong 😁

I like the idea of having a cannabis index. So I had a look at the chart and found a gigantic green candlestick hanging in mid-air thousands of points above all the other days' prices. Does anyone have an explanation for this behaviour? Is this a safe index to 'invest' in?

Do you actually place any trades or do you just 'analyse'? I find it incredibly difficult to take seriously people who don't trade. I am still in two minds about whether TA is a lot of hocus-pocus, because I've never actually seen someone prove that they can use it to make consistently profitable trades.

Sorry for the above. I got stopped out and lost money. Looks like it's going all the way down anyway. 🤣

Totally agree.

I've also had my eyes on TUI. It seems to have rock bottomed and is starting to climb again. Weekly stoch has crossed above 20. Looking for a convincing breakout above the range 738 - 867p on high volume before going long. Else, if it shows signs of being range bound it might be good to short it as it's currently at the very top of the range.

Put it this way: it used to be a lot bigger.

Reuters article claims gold will be heading to 1322 this year and 1369 next. https://uk.reuters.com/article/uk-metals-precious-gold-poll/gold-poised-for-gains-as-global-markets-brace-for-turmoil-reuters-poll-idUKKCN1S80UV Why? Does anyone actually think that if the international economic system collapses, they will be able to visit the gold vaults and cash in their bits of paper for real gold? Not a chance.

lol, well I would like to start with a stock that I've had my eyes on for a while (I'm in the UK). Ocado has posted incredibly strong gains over a long time, but it recently seems to have topped out at around 1437p, and I'm happy to go short at this point because the stochs have fallen below 80%. The weekly chart shows three evening stars followed by a weekly reversal, however, the stochs are not as strong on the weekly chart and the MAs are still up. So ... not guaranteed. But I put skin in the game at £1 per point and I'm hoping for a 50% pullback.

I would love to share trading ideas and graphs, although I find that with graphs everyone has their own way of doing it and it's difficult to understand other people's lol

Sure I understand ... Just means that I would have to spend money on a U.S. broker rather than on IG, if they do not wish to allow this.

I'd love to see the ability to trade options on stocks added to the online platform then.

Okay, sounds like I need to be on Twitter then. I've held out on social media for years, but since companies are now using it (and not offering alternatives) I guess I have no choice.

If the UK adopts a sane cannabis policy (which is probably never will) will that decision be reversed? I mean seriously ... how uptight and prudish can you be? Trading tobacco stocks is fine even though tobacco kills millions of people?

Guys seriously, what is the deal with spread betting? Let's say you want to go long on a stock. You buy a call option and pay IG up front for the privilege. That is the maximum you can lose, should the value of the stock go against you. Now you might say that it is possible to set a 'stop loss' at a point which is significantly less than the premium. But the option can still be a much better proposition even if the premium is higher than your stop loss. Why? Because the option remains open until expiry day, regardless of how much the price moves against you. You can ride out adverse price movements and exercise your option if the price moves back in your favour again. If your stop loss is triggered in SB, you are out and need to cough up more funds to get back in again. With an option you are safe against flash crashes and other short-term 'chicanery'. Why oh why oh why ... are people in the UK forced to spread bet instead of being able to buy options like people in civilized societies can?

That's interesting, thanks. Well I am genuinely confused because for me an option is something you pay an upfront premium for, and it's highly disconcerting to see huge 'profit/loss' swings. IG deliberately makes it unclear I presume because they don't want us trading in options.

Has anyone tried following the 'advice' of PIA First? I'm almost tempted to think that it deliberately gives false signals to encourage punters (sorry, valued clients) to enter bad trades for IG to profit from. Why else would IG pay for something that generates such appallingly bad signals?