nit2wynit

To be honest @dmedin I found this after I'd already called it A Day. I looked at the Bull Candles and figured this didn't want to go up at all and was fighting to come down. I'd had such a great Win already the £13 risk was OK to me. But my Limit was actually below the R1. If I'd walked away it woul have Stopped me out on the way back up. you just can't tell. But one thing I know is the longer you're in the game the more it can reverse. Take profit when it there.

I'm going to sound like a right tool here; Which Gap are you talking about? lol

@dmedin If so then your Stop would also need to cover the possibility of a Spike to Retest Resistance. You'd still be playing for a 1:1 but over a full day. If I'd left this one to Drop to R1 (I know, Hindsight) I might have made £40, If i left it for another 6 hours or so, I'd have made another £40 roughly. The time vs reward doesn't add up. My target Limit was around the R1 point. Knowing that it would likely hit it and Reverse is my reason for getting out with Profit. If I was watching further i might have been convinced to go Short again at R2, but it was a slow mover at this point. Wondering what you see here and how you would have carried on from my post yesterday.

@dmedin I'm wondering if the reason you keep Losing for lack of a better word is because you're holding on to positions too Long for too Little? Take a look at the chart from yesterday. Would you be holding this till the drop?

Yo, no I got out as in the image above. +£13 and pence. I think we've talked about this in the past. I recently mentioned it with Dschenk too. If i see profit, I take it. I don't play long. So when i saw 1:1 on a slow moving target, even though I had it to go lower, I took it. There was about £40 for me in that drop I think. I don't really know how to use MA....Who am I kidding. I don't know how to use MA lol. MACD sure, give me an idea of volume either side of the average....doesn't it? I read the chart. That's it. The indicators are there in hindsight.

It aint much but I was reaching for that £50 I reckon. 1:1 PL good enough for me EDIT: Hmm. Still going down. NM.

Woohoo. @DSchenk Well. I did cut my win a little early (just as well if you take a look at the chart) but they were close enough to 1:2 PL for me. I didn't manage to get my Balance down to £500, but it's not too important for now. I've made a note of my New Starting balance which was £1877 I think (i'll check) Profit went up to £35 initially and come right back down to £0 when I was about to close it thinking it failed. Let it run and it got back up to +£93 with a risk of £60 just below the Green Candle at around the 600p mark. However, I was lucky here. (I know-no place for luck) I had to use the 15M to see it break above the previous Red Candle. In at 624 Out at 655. Margin of just under £500. 1 Trade. Day 1 Win :D. Up 25% Buuuut, this was a Bad Trade.......Too Slow and already decent Pull back on the 5M. I've been very very Lucky. Duly Noted.

It's ok. I've found the smallest stock i could and done it that way. Thanks

It sounds simple but even using Amazon i can't lose 20k in a hurry!

and how exactly can you lose the exact amount? :O

Are you an international Spy? lol

How did you do this? :O

the difference is he started with less than $600 and turned it into 1 Mil Live and proved it every day. He'll be the first to say he doesn't win Every time. He claims 70-80% success rate, overall. Risking 20k on a trade and it dropping a few points is going to come with a significant loss, but only relatively. His Transparency suggests you've got to know what you're doing, but even then, you will Definitely Lose at times. It's a Statistical Certainty. It's supposed to sound like it's Nothing. It's the mastering of emotions that allows him to trade confidently.

It won't be entirely possible to trade along side as a lot of the shares he Trades aren't available to us on SB with IG. Buuut. some of them are, so it's all to play for. I've grown my account from £1000 to roughly £1750 trading breakouts over 1 week. Sure it was the Demo but it's real enough to me. I only place maybe 2 trades per day at Market Open. If they Fail i wait till the next day. The hardest part, as we've discovered is finding them before the bell at 2.30 Didn't trade today. Been cooking.

Christ man, I lost £1400 in WEEK! I just happened to spread it over 4 months lol. My biggest lost was £300 in one day over 10 trades. I was a lunatic. Needs a fresh approach.

Every day this happens!

So as I said going from only 1% Gap isn't do-able Unless you're ready to go In and Out within about 5 mins. There's just not enough scope for a 2nd or 3rd Spike. I can work, but you need to be in fro the Bell. Too risky. Tomorrow I'll be back to only 5% or more of stock less than £100. I might even make it £50 or less. 11 trades, 4 Wins, 7 Losses. The £56 Win is from Yesterday's experiment. I missed market close. It was actually up £120 at market open but was concentrating on the new list. The amount doesn't matter. It went Down. Back to what Ross is doing or more specifically what he said to me personally. With only 1k, you need to be Bold, be Brave but also be as certain as you can in your Trade choice. He said to risk No-More than 10% with 1k. It's important to understand that Risk isn't an amount but a % or Points moved in relation to the Pullback. It just happens to represent a Cost. What I mean is, if It's only likely to move 20 points and the Pull Back is 5 points then your Risk or Stop should be literally below the Pullback + Spread but should never be more than 10% of your account size. So unsure of how you nearly lost 25%. I'll take a look at the chart to see where you're coming from.

OH lol. I'm testing the market at the minute. Ross doesn't Buy off the Bell. He still has his set In and Out markers. What i mean by Off the Bell, is no-one shuold go in Blind on Faith until the direction is proven. 1st pullback. Not off the bell. Paypal going like a Yoyo. See you in the Job Queue

I'm not sure we're playing the same game bud. You can't Buy right off the Bell. **** flies up and down. you still need to wait for the 1st Pullback on 1M or 5M. I'm only going in off the Bell to take notes. my max risk on any one Trade is £100, but if I'm watching it I won't let it go past £50 or 5-10%

So far the results are similar to all other days, but what is obvious is that choosing stock based on only 1% gap provides little afterward and usually Retrace within 5-10 mins. So this means I need to be in right off the bell and out within 5 mins to take porfit. As you said yesterday the Spread vs % moved isn't big enough to reach potential. This is likely why Ross always goes for 5% or more as his own backtesting said his successes were a lot less on stock below 5%

Danger is in Risk. How can you blow your account with Stops in place? :O

Same as yesterday though I've been distracted so LITTLE LATE I'll be going Long today though off the Bell. and see where we are in 10 mins. What is your search criteria for you watchlist and where did you get the info?

HOLY **** Stick!! £118 per month!!! lol Erm...I'm good thanks

Struggling to find a Screener on there?

I briefly looked and then left it. Not sure why now. I'll put time to it now though.