nit2wynit

I've just taken profit on it at £4.03. My 8pt Spread put me at risk of £5.?? (missed the pence) but I would only have let it reverse 4 pts or about £2 or £3. I took profit at 7215 as i figured it was going to Stop and retrace, but I'd also figured I had my 1:1 ratio already and didn't want to risk the retrace and lose profit. this is based on the timeframe of 1M and seeing how much the chart has been moving in 1M and 5M. So My Potential Risk was £5.50 ish. My actual Risk was only £2.50 ish, therefore my profit was to be £2.50 or above. I took £4. Edit: Looks like I got out right time. However, it's in the middle of the SR zone now so I wouldn't go back in till it hit one or the other.

OK, let's prove this point. Minimum size with IG is £250. Look at the FTSE now but take it from 5pm. It's only moved about 12 pt But there are several moves within it that are already decent but it retraces almost the entire amount. I'm preaching to the choir here as I know we both know what we're talking about in this instance, but it proves that all theories and tests are specific to the pattern and Trend at the time. I think this explains the PL ratios'. Some people are stuck on a system, but it's requires an overall understanding of chart movement and the ability to adjust strategy to suit. FTSE after Hours 2pt Spread. Minimum stop 8pt. £250 account size. The point in this example is the limits of the Spread and the Timing. How much movement can I expect at this time of day? Very little, or did I know that drop was coming?

In too early, out too late, or in too late and out too early...... Some with larger accounts might say that it matters little so long as the Trend Direction is correct and the Stop is adequate; if they even use one. I've said this before. Account size limits how long you can play. If you have millions to spare, you could just put a massive Stop and go in any direction, (if you don't have the time to wait for the perfect In Point) so long as you have belief in the Trend Direction. What goes up must come down. With a small account I am forced to play a short game OR I can play long but less often, but this will tie up my funds until I see a decent profit. Will a small account I can't justify seeing a profit of 20 points for it then to come back 10 or 15, then hope it goes back up. I would never allow myself to lose 50% of a profit if I saw it on screen. This is why I play 1:1 PL. and hope for 1:2 or better. The larger the time frame the larger the Stop therefore the Larger or Equal the Profit must be. I know this is basic stuff, but behind the knowledge is our Psychological Approach to it also. You are clearly Intelligent enough to break it all down and make use of the info. I just look at the chart in front of me. As we've discussed in the past, Indicies will go up 20 points and come back 15 points and go back up 20 points and come back 15 etc, so on and so forth. This will obviously happen more so on a 1M or 5M, but on a Daily or Weekly chart, you'll see little difference in movement, with your timeframe for Profit being Days or Weeks respectively. But playing on a Daily or Weekly chart requires either a massive Stop to cover Intra Day oscillation OR a waiting game to make sure you find your Support Resistance points to get in. Waiting for a Pattern to finish or Reverse means you're not trading, which is fine so long as the profits outweigh the Time and Effort or Risk. What I'm really saying is this. If your Success is 50 60 or 70% then this really dictates what your Time vs Risk is or should be. If you're only Winning 50% of the time, then your PL should be 50% so you break even. What this literally means is if your Stake or Risk is £50 then your Profit or Limit should be £50. However, as I've said above to Risk = Stop = In point; The less you have, the more precise you need to be with your In Point and the Shorter you need to be in the game. With so much Up and Down on the 5M and Indicies, how can you justify the Up and Down Profit Loss? If it goes Up 20 points and you're up £100, would you then allow it to come down to only +£50 in the hope it will keep doing this all day, or Take Profit?

I wonder how Big TallWacker Guy is doing with his massive profits lol

on the move? :O Better late than never, but not convinced it has the legs.

Hmmm. No Faith in it now.

Usual pattern off success and failure so far. Proven time and time again. All Long All Stopped out. Uncanny. But now I'll try and Win on purpose. Watch Pinterest.

that 1% buddy. that 1%

Watch this space. 2.30 bell

Good Luck (but luck it for Gamblers sooooo. i wish you all the best of success with it. I'll read back thru it all.

I'm clearly late to the party again. Looks like some great info being thrown down in here. So, are you winning now?

Yeah i think you'd be brave to stay in that one till the end.

This is great. I see myself in each of the 3 examples

I made £200 on Pinterest going up. Left it over night. Lost quite a bit of profit on the way back down. I think it was up to £260. So far on the Demo and my 1k challenge I am up about £750, with not many losses that exceed £50. I haven't been trading every day. In fact I haven't trade much at all for the last 3 weeks because of Flu or whatever it is I have. Disappointing that PINS has dropped though. I've $1k of shares. So far they're back to pretty much what I paid for them. Ironical that I made £200 with SB ha.

I've not been trading this week as I'm still with Flu, but that's certainly something I'd like to. Risking 2 to make 6 is a good ratio. Explain your In and Out to me? Looking at it on the 5M I'd assume 2 options here. One would be In at 1st Green Candle at 17 mark with a Stop at 16 if possible. Then I'd let it ride till 22.6 where I'd get out seeing that long Red. Of course it kept going but there's no way I'd risk it. That would look a lot more severe on the 1M. 2nd I'd wait till it broke a New High at around 19 with a stop at 18. Same Limit again if I saw that Red Candle.

Wow^

Hi, I've been seeing this all week. Seems random. Refreshing doesn't always work. Are there any issues with the Demo? Thanks.

Hi. Anyone have an insight on the UK Banks? I've a few shares tucked away with Lloyds. They've done very little since 2007. It's fair to say compared to what they were in 2006, they're worthless now in comparison. I'm concerned about the Brexit Spin and the recent Spike. If it's big in the news and the whole world can read it then i generally don't trust it. Therefore I'm guessing this is a Fake Spike before it drops to new low's but I'm not rigid on this belief. Interested to hear any thoughts on it before I decide to sell, or leave them to fail even further.

Some amazing potential today in the UK. Hope you guys made some progress. Not for me, it's too early lol.

Never mind

The trade I showed earlier is still running. I'd have got out at £40 as my STOP at the time was only -£20 for a 1:2 P/L. But for the exercise and the previous wins, I left it. At one point it was back down to only +£5 and thought it was going to hit the Stop Loss at Zero, but it's gone back down to +£65 or so now. I think at this point again i would Get Out but I'll leave it and see where it goes. I'm expecting it to hit 1150.

Why not meet me on the Demo if you have the time? What I mean is, do what I am doing. 2.30 each day. Rattle down the US list and find say 5 that look decent. Gotta be quick and have it done within 5 mins or you'll miss it. It would be interesting to see what we each find and how we trade it. 1k account size, but can have 5 trades running if you wish. Personally I stick to 3. No harm in it. Make a note of Stop distance and P/L ratio. Cool if not. Asked @dmedin too but not his bag unless you'd like to give it ago too?

@DSchenk i figured i'd put share ideas on here instead of your FTSE thread. Bed Bath and Beyond just keeps giving today. Another £40 bagged so far today up £273 with 1k account. My total now is + £520 since I've tried to grow from 1k using Breakouts on the Demo. All in 3 days trading or more specifically, 3 hours. Not bad so far

Just pulled another 91 going short on Bed Beyond. Having a bath now.

oh good luck with it pal. wiped me out. Still recovering. However, here's some for today. Each with a 1k account. From left, £20 Stop, £50 Stop, £19. The one on the right already failed at -£19. I'll let the others run and adjust Stop to zero cost. Edit, Looked like they peaked so got out for +£162 -£19 =+£143