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nit2wynit

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About nit2wynit

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  1. What I'd be interested to hear is where you all go for your News? your Tips? Your Insights etc.? What sources can you suggest to start my Day with?
  2. There are clearly many benefits to SB which are becoming very clear, and I may have misjudged the entire thing too quickly. I mentioned earlier that i learned what i wanted to do from Warrior Trading. Buying and Selling small cap stock of £10 and under. In and out. I've discovered today that there are still opportunities to make money with SB, (EOH Holdings went up 50% with the potential to have made £1500 today) but the limit is actually on the platform itself. For instance, the ability to simply arrange the Instruments by Volume, Volatility, Market Cap, Price etc. It's very Basic and absolutely tedious to search thru the entire listing to find anything decent. This of course is where Prorealtime comes in. and it's built in scanner. The basic platform is obviously limited on purpose so that you must invest further and pay for PRT. I'm happy to hear any other suggestions on it?
  3. I see....Well, I'm not a gambler.....So It seems I've found SB and it's not in my favor. I'll take a closer look at options then Thanks
  4. Ive found no discernible difference using the Demo from the Live account, except the irrational buy and sell impulses that go with an almost unlimited account. I now try to use the Demo not to practice the charts and placing the bet, but practice my own patience and to treat it as if it is real money.
  5. @dmedin I clearly have no idea what Options are. In fact, it's becoming increasingly evident I don't know anything ha. 😮 However, i do know that I was watching EOH Holdings last week and yesterday and waiting for a break out which happened today. Went up 50%. Of course, it's way out of my comfort zone but could have grabbed around 2k today if i was Stupid enough to get involved in it. I couldn't take the risk of it going south on me. Apologies; it's not the right place for this.
  6. I know this can be done, I'm just not sure whether Spread Betting is actually a Good thing or a Bad thing compared to Buying and Selling the stock directly. I need to figure out what would make (or lose) more money compared to physically buying the stock the CFD/Spreadbetting. I belive it was Cadence Minerals about 2 weeks ago. I read the news, watch the chart and anticipated a break out. It went up and up from £13 to £32. Over 300%. I made over £700 on that.......In the Demo But I undertand my main concern has to be how not to Lose money and worry about making it later. I just want to get back to £1400. I'll be going back to the Demo for now.
  7. @TrendFollower regarding your question and why you don't see why I can't take along position on a small priced stock. If it was a guaranteed move (which we all know there are no guarantee's) then sure, i could go long and take a profit at the end, but they don't always move. This is why I would only commit if a suspected price change was imminent; News catalyst. Also the main thing to consider is the cost of the spread is proportional to my stake. Some I have tested to be £50 under before i can even consider profit. It's simpler to buy the stock. My reason for what I'm doing is actually an income. This isn't to be a part time gig. I discovered Ross Cameron from Warrior Trading. Turn $583 into 100k in 90 days. I was watching a few smaller cap stock while using the demo a few weeks back and had some great success, with Motif Bio, Cadence Minerals, Sirius Min and a Shanta Gold and a few others. The thing with spread betting on low price stock is that if it's not moving or has such low value the Spread can be as much as the cost of the stock. For instance, If I bet 1k on a £2 stock with spread betting, the Spread may be as much as £1, plus If i bet £100 per point then I'm already £100 under. If the stock moves only 50p then I'll still be in the red. Not only this, I'll be very much under to start because of the Spread applied. However, If I simply Buy the stock, I pay £5! But Spread Betting is a different Beast. I didn't actually know what It was and that it was in the UK, Ireland and Canada only. (not exhaustive) I've got to take my whole understanding of what I'm doing back to the table. In the meantime, this is what i want to achieve, regardless of how I achieve it. Trade for 2 hours a day and create a 50k per year income.
  8. Excellent advice @Caseynotes Thanks for taking the time. I'll certainly take another look at it. Do you have any advice on what I should be going for with a small account? I don't mean specific stock, just the price range etc.? Any constant Trenders etc. I'm looking to start the week slowly. I'm being realistic and hoping to slowly climb with £25 per day wins. Maybe even this is over reaching?
  9. Hi guys. I watch the Daily for the trend. Then each time segment going down to see what the colour of the candle is, then adjust based upon the most recent 5 minute and then back to the weekly to see if there's a larger pattern and a trend reversal due. I also check the news. When I've decided I use the 1 minute to buy in. then sit back to the 5min to keep an eye on it. I think with the Gold I was dealing at times with too little volume. Often below 100 per minute. I'd bet on it, it changes every single time I get involved.! I'd make more money betting against' myself lol. I've made mistakes starting out with a £1400 account to use around 90% of my buying power. However i wasn't allowing for volatility or movement so was getting stopped out often. I adjusted this to allow for a 3pt deviation (£15pp on Spot Gold=£45) but this clearly wasn't enough room, and now decided I'd need at least 5pt. My timing was well off. At first I was watching the 1min chart too closely and as soon as I saw a spike, I'd jump in, only for it to drop down and quite often reverse, or go sideways. To keep this short I basically made all the obvious mistakes! I've written several A4 pages of notes on my dealings and learned a lot about what I am doing wrong. But it is uncanny. Really uncanny, how many times my Buy in becomes the Resistance. However, on my most recent it was £1295, so I've put this one down to the Dead Man zone of Spot Gold and what has happened over the last month. Don't get me wrong. I have made gains of £25, £50, £80 or so, here and there but lost it again. I've 1k left. My new strategy, is to bid smaller, and longer. I will be Trend Following for the Day, and not trying to make larger amounts quicker. I just want my account back to £1400. As for Indicators etc. I only really use Volume first (Patterns being a Pre-Requisite) observe Break Out potential, plot my Support and Resistance, then wait for the chance to get in. The most recent Learn I have is that the charts are looking at the past! I've no Idea how far in the past; assuming only seconds, but probably far enough that it makes it too difficult to make large gain in short time, that I must go long when Spread Betting.
  10. @TrendFollower Totally sound advice, and nothing I don't already know; but always fail to follow. However, I'm here now with a new challenge; to undo my already formed, bad habits. However, I learned watching videos about Buying and Selling Shares, not Spread Betting. I want to buy Low cost stock. Wait for a Break and sell. I want to buy 1000 shares, and see the price rise by 10p then sell. I can't do this with SB.
  11. @Caseynotes thank you so much for this info. Where were you 4 weeks ago? pahahah. Ironically, what you have suggested, is what i am now doing. I told myself if i got down to £1000, then it was time for a rethink. The rethink it to bet low and long after a decent chart study. I did actually make £80 yesterday going short on that Bear, but bet wrong on the pullback thinking it was a reversal, and lost half going down. I bought at the bottom for the smallest i could go and took an overnight position on it, hoping to see a gain in the morning. Alas, it was as is seen; a consolidation. The news suggested Low Dollar so i guessed it was going to go Up all day so put in for a long position. I bought in the the 3rd up right at the top thinking it was going to break out. It then took 6 hours to go down, up once to my Buy In then back down to support where it stopped me out with a £20 loss. It's still sitting around 1290. The only good thing i can take from it all is I know what I'm doing wrong. I've been playing with a small account and risking only 3 moves at a loss of £50!!! I've been a total fool. My plan was never to Spread Bet but to Scalp/Buy and Sell shares based upon News that are below £10. I only realised there is a Shares/DMA/L2 option yesterday, so I've got my next stage of learning to start asap with the £975 I have left. Thanks again. I need to make more use of the Forums. Any advice obviously appreciated.
  12. Yes Casey. My learning has moved from charts to myself and what I am doing wrong correclty 100% of the time. As I figure it out, I look forward to the 100% right state of mind. I am correct in my mistakes 100%. I like the odds.
  13. Hi, maybe I've got a bit of cabin fever staring at charts for the last month while I'm learning, but I swear....I swear, 80-100% of the time, my Buy In Price becomes the point of change, either Reversal, Horizontal or acts as the future Resistance going either Long or Short. Is it my head? I've been trading Spot Gold for the past week. Lost around £200 on a £1400 account. Went back to the Demo and proved 8 straight wins for £300. Went back to Live, lost £200. Even today, I've been stuck in Spot Gold since 10.41am UK time. it's now 16.30! and it's gone back up bounced of my Buy in Price at 1295 ish, and gone back down to previous 1290 support. £5per point!!! It turned after a clear upward trend had started and gone down to 1290 support and back up and back down. Almost every trade i have tried has done this. What am I missing? Volume? Computers? The only daft lad trading Spot Gold??
  14. Thanks Casey, it was either Chrome and it's Cache Level or Firefox. Broken image placements in Firefox too so switched to Chrome. It's still not great after a system restart but it is better. I failed to mention I have a 43" 4k Tv too as a monitor which may be creating a problem with refresh etc. Thanks
  15. What a great read, though i didn't get thru it all. Her'es my bit. I was demoing for about 1 month back in Feb. I tried several Demo platforms before settling with IG. I made a lot of losses and some gains. By the end i thought I was about 50-50 but was curious about the Real World, so opened the Live account. Long story short, I'm down £400 in 3 weeks from a £1400 account. Not great; in fact I'm at a loss. I've mostly traded Spot Gold, so after a few £25 losses I went back to the Demo to make 8 straight wins and up £300 in a few hours using the same account balance. I thought I'd cracked it. Went back to the Live account with New Improved Strategy and lost £200!!!!!!!!!!!!! I can't win. Spot Gold is ruining me. I watch.......It moves in a direction, i go in, the chart stops moving, it goes the other way 90% of the time! if not 100%. My own Buy in Price becomes the Resistance Point going either Up or Down. I was going to video this fact but figured it was all in my head. It's not. My Buy in Literally becomes the point where the chart will reverse, hit the support and come back down to my Buy in and go back again. I sit in trades fighing gor £15 for hours....Then sell, then it breaks. This can't be real. I can't be this unfortunate?
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