AndrewS
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Posts posted by AndrewS
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9 minutes ago, dmedin said:
On DJIA? I bet at minimum (20p per point) so 100 points is only £20. Not a great return.
When the frequency of my trades increased in late February I was only trading 50 cents a point. Obviously that was not going to continue, I was planning to trade larger amounts or go back to the drawing board.
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27 minutes ago, dmedin said:
Do such trades occur regularly for you? Are you able to watch your charts all day long, every day, to catch them?
For those moves glancing at the charts every 15 minutes is probably better while you don’t have an open position. I set price alarms around areas of interest and sometimes use a chime when the 5 minute candles close. Catching two 100 point moves a week is achievable.
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41 minutes ago, dmedin said:
Indices were hovering around down sweet f*k all since the middle of June (except bouncing up and down like a jogger's t!ts), as I said before, unless you have magical scalping skills you weren't making money from trading the indices for over a month. The 'recovery' has stalled and there's no money to be made, but plenty to be lost.
Well if someone is trading off the four hour charts looking for a trend move over many days they may be better off scanning many securities.
For me a pure scalp is buying the bid and selling the offer which I am not profitable in so I use the word scalp to refer to opening and closing in about 15 minutes. I would call a move of 100 points in 2 hours a swing trade and not a scalp.
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3 minutes ago, dmedin said:
Blah blah blah
What about your trades?
Opened a short on the Dax around the daily R1 pivot and closed around the daily pivot.
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4 minutes ago, dmedin said:
Go on then, tell us about your trades today.
If the market conditions are a choppy consolidation then a scalp with a high probability setup is less risky than aiming for an extended swing trade.
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24 minutes ago, Caseynotes said:
The reason I trade the indices is because of the ATR.
Good point. The range compared to the spread is still good. I don’t care if the main move it is all over in 2 hours.
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28 minutes ago, dmedin said:
Oh Eileen
I don’t follow the COT, but I saw a backtest which suggested that analyzing the Dealers had the most consistency.
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32 minutes ago, dmedin said:
Indices sh!t the bed big-time.
My, your up early.
The indices have approached the middle of a trading range judging from the recent large wicks on the daily charts.
This is what my current rules look like ( which are very much an individual thing.
Max Position Size AUD= 1. Trade intraday primarily (unless carrying over is in the original decision) 2. Favoured Time 4PM to 4AM (Sydney Time) 3. Trade Retracements/ Bounces on multiple time frames 4. Look at IndiciesMainLong for trade setups 5. Look at IndiciesMainShort for trading
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11 minutes ago, dmedin said:
This is really fking painful to watch
Closed all the shorts waiting for a bounce and then it drops 100 points in a minute. Happens all the time.
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16 minutes ago, AndrewS said:
Stopped out, back in. There is a yearly mid pivot and a 20 day moving average as well.
Cut it in half to recover my loss, you get the picture.
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39 minutes ago, dmedin said:
🤔
Stopped out, back in. There is a yearly mid pivot and a 20 day moving average as well.
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6 minutes ago, dmedin said:
And?
You obviously keep the good stuff (that makes you profitable 1700 out of 1900 times) to yourself
Most of those were small scalps, this is more of a hope for a short swing trade, but the stop is so close I can afford to be "wrong".
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Daily pivot marks about 1000 points off the days low and the top of the gap.
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4 hours ago, dmedin said:
Well, since you are in a good mood, could this thread be reserved for a discussion about Indices?
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7 minutes ago, dmedin said:
Yeah and you can't answer it. If you're not making money then your trading is failing and you shouldn't be doing it. You can make money from buying an S&P 500 tracker and doing precisely f*k all.
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7 minutes ago, dmedin said:
All that you say is true, but are you making a net profit commensurate to the time and effort involved in trading?
If not, why don't you pack it in and pay off your mortgage instead?
You probably don't remember, but you have asked me about six times in this thread about my finances.
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On 12/06/2020 at 22:00, dmedin said:
I'm impatient, overtrade,
Looks like it has come full circle.
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9 hours ago, dmedin said:
So you're making money? That's the main thing.
It's really easy to make money when the market trends. Literally anyone can do it. You must have found a way to avoid the whipsaws (which isn't apparent at all from your charts, which make no sense to me), and the market whipsaws most of the time hence almost everyone loses more than they make.
I don’t know why you have the confidence to frame how others trade. In every candle there are buyers and sellers who may have a better idea of what they are doing than you and me.
But this is what happens to some who have not thought well about what they are doing. They have had losses and so have decided to only trade when they see evidence that a move is underway. But they are chasing prices right into support/resistance or a point where the return/ risk and probability are low.
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Which is not to say I have not done all the dumb things.
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14 minutes ago, dmedin said:
Interesting rationalization, common among all gamblers/addicts.
I suppose you think you'll be able to make consistent profits 'one day'?
Since February 27 I have had 1,736 profitable trades out of 1,963 trades and am profitable on every instrument I have traded.
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26 minutes ago, dmedin said:
Do you actually make money? Because most on here don't. I think it's something like 98%.
I think I see a pattern. Now it is true I have had a draw down entirely through stupidly carrying over losing scalps. But this is my best week for months and I have almost completely fixed it up. You do not continue to get updates.
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57 minutes ago, dmedin said:
Yeah I see it. Whipsawed 5 or 6 times before you get one good trend.
I would only use it as a trailing stop when momentum is very high and prices are going through levels like a hot knife through butter and I don’t really have a better way of managing the trade. In practice what I did was I went flat when the Dow was at 25,700, but I was mostly short the Nikkei and caught a 900 point swing on some of them. But I could have got a few hundred more points. So this chart is part of a post mortem on how I might have done better.
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1 hour ago, dmedin said:
😵
Oh, here is another minute chart. Notice how well a moving average would have served as a trailing stop during the US trading session the other day.😀
Indices
in Indices and Macro Events
Posted
I started trading very short term when the market was falling hard and I had no confidence in the longer term and I was immediately profitable in it. Being profitable from the first trade has only happened to me previously in the GBP/USD. I had this thing looking at the GBP/USD, EUR/USD and EUR/GBP and waiting until 2 or 3 of them were bouncing into support/ resistance. I transferred this approach over to Indices where it works better. So maybe the 78% of traders you are referring to only need to identify a sweet spot.