nit2wynit
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Posts posted by nit2wynit
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20 hours ago, TrendFollower said:
I mean have you considered looking at a much longer timeframes so say the '4 Hour' and 'Daily' my two favourites along with the 1 hour and try consistently making profits using those timeframes before even looking at shorter timeframes. In theory (not always the case) it should be easier for your to trade on longer timeframes and start making profits and when you have learnt your trade then go to the lower timeframes.
I'm going back to page one Trend. Something is clearly wrong it what I'm doing.
It's possible I have too little in the kitty to make this work. Even at £0.50pp the stops are too great to assure profit for a longer timeframe.
I'd love to see someone give me an example of how to make this work with only £950 account.
Ideas on a postcard to:
Gamblers Anonymous
Bankruptville
Ignorance Street
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What I'm failing to grasp is the massive stops needed to trade on Large Timeframes.
Help me out here then. Give me an example with only £950 inthe pot.
Instrument, Timeframe, ppp.
I will be greatly appreciative.
Simply scoffing at my posts is as futile as my Gambling style to gain profit. -
I'm clearly confused here.
Ascending Wedge into Breakout.
What's the problem?
I know nothing about News on this.
I lost when I tried for a Pullback that didn't come. Took £25 at the top and should have walked away. 3 times waiting for a 2nd run on it that did't come that eventually took back £40.
You're both telling me you wouldn't trade this before the breakout?
@dmedin @Caseynotes So what does work for you then? -
Oh Dear God! Help Me! :O
Found a perfect setup on German 30 Got in at the perfect spot. Shot up and took £25 profit. Gave it all back and some with a trade running that might take another £5 off me.
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Moved to 10M and made £4.70 back
Small gains often.
There's a little detail i keep forgetting; I've changed my Stake size from £5pp to £0.5. I was always playing for 5pt on the FTSE, but i'm failing to see that even at only £2.50 up it's a 5pt win. I've been holding £5 in my favour only for it to reverse. Of course it it; it's a 10pt move.
So back to small wins. I've been playing a longer game, but not adjusting my stops to allow for larger up and down movements.
I'm confusing my Strategy and not applying it.-
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It's obvious I've been playing too close with a 1 m chart. I've changed to 10M with 1H for perspective.
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3 minutes ago, cryptotrader said:
whats the average time you hold a trade for?
Minutes. I look for potential reversals and plot Support Resistance on the 1 minute chart.
Maybe i need a new approach.......or i could be distracted from looking for a bike to go ride on..........Now i'm chasing the losses.....
I can't even Win by going in the opposite direction to what I think lolOops there's another. Been waiting for the drop. Came when i went the other way lololol
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A poor poor day today. Statistical Correctness right on the money.
11 trades. 8 the wrong way. -£48. The weeks gains gone in 2 hours. FTSE and Bent Crude.Time for a break.
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i still can't see your Emoji's :O
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4 minutes ago, Caseynotes said:
You may of noticed I've been prodding suggestively over the last few months that perhaps a strategy seeking out volatile markets and using £170ppp bet sizes on a £2000 account might not have been one of the best ideas I've ever seen 😉
Duly Noted!
Thanks
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Just so I'm absolutely clear here........
IF it went up 1000pts then reopened; I'd be Broke? -
@Caseynotes, I'm looking at your charts.
My chart has a Left to Right Gap. Your charts have Vertical gaps.
Regardless, the issue appears to be cleared up. Chalk it to another loss. Thanks to you both @JamesIG for your patience.
"With regards to you closing your Deutsche bank position, on the 8th of July 2019 at 14:36 Deutsche bank shares went into auction. At that point no trades were actioned for that minute and that was around the time you were looking to close your position. Once you got through to us the auction had ended therefore you were able to close your position." -
@Caseynotes I've seen gaps up and down, but not as in my example above. In both your examples there is no Gap like I have shown.
Are you telling me, that no-one at IG has been able to thus far, including @JamesIG that this is normal?
The ONE time I'm in good profit since losing so much, the Chart Freezes, and I cannot Close my Trade to take profit.
Forget the chart Casey.
I could not close my trade. Is this normal also? -
On 10/07/2019 at 09:24, Caseynotes said:
So M1 DB chart from Monday see the 14:35 red candle, no 14:36 candle, then 14:37 and 14:38 (highlighted).
Yes but now Gap, and no explanation that i had a trade open but couldn't close it. Are you saying this is to be expected? That i can be in a trade, but will not be able to Close? And this is acceptable?
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*Note to self. Check the 'Notify me of Replies'...On each of my own threads.
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Thanks folks, but I've not been receiving notifications to these replies either.
I'm still waiting for an answer. The chart at the time was not particularly volatile, the volume had actually dropped off too.
What can I expect to happen here? @Caseynotes it seems you're setting me up for a 'This happens-Get used to it' kind of response. It's part of trading?? Seriously?
However, I also find this far from ideal and practically dangerous.
6 days! I'm the only one with this issue?
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1 hour ago, dmedin said:
I'm pretty sure this process of coming to terms with large monetary loss
I haven't lost a grand, I've gained an education at a cost of around £8 per day since i started; I spend this much on Wine!! It was necessary for me to lose I think as it was important to acquire emotional knowledge too. My system is quite simple; look for reversals or Support Resistance lines and try grab 5 points @£5 per point. Using consolidation areas are my fave providing the points up and down are big enough. I've said that when i first went live back in March my best move was on the Russell 2000. Made about £250 over 3 hours just going up and down.
I'll update my Aim and Wants right now with a clearer mind.
I don't want to make millions, i want to make enough that I have free time each day/week/month ..... without wrrying about money.
I think for some it might be Gambling, but I've proved to myself if not others, that I can see a chart and read it. Though i may have spoken out of frustration in the past, i'm certainly no Gambler. I've just been foolish in anticipating too many drops. Having a System and applying a System aren't the same thing. Knowing to pull back instead of chase your failed idea time and time again isn't about a bad System, it's about not applying the system.
I've not been on today as needed a break. Fresh head on me next week and i'll post my results of the week on Friday.-
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3 hours ago, davidbrister said:
i wouldnt keep changing the amount you use just because you had a win.
Cheers for the advice. bud. but I did change doww to £1pp at the end there.
It's going to be a long road back up to 1k but i'm focusing on simply getting it right and not worrying about making money now. Just keeping it
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6 hours ago, Caseynotes said:
I have recommended this before in the Technical Analysis thread because over the years it is the most concise and up to date learning packages I've seen.
I will personally make it my goal to study them over the weekend, moving forward.
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1 hour ago, pipe_wrangler said:
@Caseynotes I read this entire thread this afternoon. You deserve a medal for the knowledge, patience and outstanding sarcasm that you have given to this thread.
That is all.
lol.
Agreed.
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What I've learned today about my mistakes yesterday is the Stop. Clearly reversals in the trend need a good 5pt average to oscillate; I was only allowing 2 stops, but only if I'm playing the Long game, which i don't plan to do; though may need to. While I've stated my Stops weren't the problem, but my direction, it's still clearly obvious that I'd need to risk £100 @ £20 pp. to continue in any trend for a while.
At £1pp I've risked £5. But made £50 with several small trades only risking £5 each time.
I've no idea where it's going next so getting out before the Changeover at 10pm.
Profit today on Gold. £50. Risk each time. £5.
11 trades in total.8 x Winners = £84.52
3 x Losers = £33.55 Bigger losses as i was staking £20pp.
Clearly the ratio needs to improve. I'm hoping it will as i nail down the appropriate Instruments to trade, and the price to trade them.
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2 hours ago, Caseynotes said:
Just noticed we got our retest of the top of the spike and has since tested lower.
Yes, i have been in a small trade of £1pp since 1410. I think I was up about £8 at it's lowest. Currently £3.50
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I've adjusted my stop to not take a loss. I'll let it run.
Concerned about letting it run into the changeover without a G Stop. -
Actually i just want to say.........
What a Relief!!!!!! Trading Small!!!! I know you all said it from the start, but you'll never understand the difference it makes to The Fear until you try it.
I can enter trades only risking 3-5£ now feeling confident with the direction. Even if it's only for a couple quid here and there, it becomes more about being right on the chart than the profit.
This little remark could be short lived though, i'm well aware. Expect me to post my losses tomorrow.! :O-
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36 minutes ago, dmedin said:
You'd think I'd learn.
So long as we all do.....eventually.
Up £45 today on Gold. Bit it's been a hard slog. Not long now to make up the 1k I've lost :O
Is spread betting for fools?
in New to IG Community
Posted · Edited by nit2wynit
I don't trade the 1M. I just switch to that to place the trade and watch it.
I start at the daily, then the 4, then the 2 then the 1 then the 30 then the 15 then the 5 then 1.
I check candle colours and previous Support Resistance levels for places to Get In.
I don't see anything wrong at all with the previous German30 example.