nit2wynit

I lost a lot of hours when I first started doing this. I'd be stuck for hours so I didn't lose £5 only to lose it anyway. lol

Sorry if I've not been clear again. Found this set up at 4pm when it had already happened. Based upon it's previous moves since the beginning of May and news last month, I figured a long down trend that may actually be reversing. However, my point about anticipating a drop was from 4pm; the point when I discovered the chart. I hesitated as it reached the top of the previous resistance level, and as it turned slightly, I waited further. Then I simply decided to let it prove itself and took my finger off the button. At this point it was around 4.15. I went outside and come back in at 4.32 (market close) to see it had indeed dropped, and calculated a potential return of £70 @ £2 per point if I had the **** to place it.

@Caseynotes I'll be quite honest here. I don't even know how to use MACD, or most other indicators for that matter. I simply look down the shares list for anything under £20, has moved 5% and has a minimum of 50pts moved, then look to the chart, notice the volume and whatever the red green histogram is.......I only saw that at 4pm, literally at the point I posted it and anticipated the drop, which it did, but I lost my nerve even after it turned. I'm cool with still being £550 for today. At least it's not a loss.

....but at least I'm not down lol

Ironically, FOLO got me today. Even with a £550 account size. I didn't place the Bet. Just missed out on £70 quid lol. You see. I can spot them. but now I don't suffer FOMO, just FOLO ****

Hi, figured I'd give you all an update. I posted here last night but hadn't logged in so lost in the Guest ether I suppose. The Fear well and truly has me. I've decided to pull most of my funds out leaving only £550. I simply must get this under control. I'll shoot back and forth to the Demo, but wean off the Demo entirely eventually. If i don't see a return on this £550 then I'll need a serious rethink about my Future as a Day Trader. Feel better already. Wold love to hear from you all regarding the chart below. This is a typical chart I would anticipate a drop soon as it reaches Resistance. Share price been dropping a lot and recent news suggests even more to come. What do you all see? As you mentioned earlier @Caseynotes, I have now lost my Trust of what I'm doing.

It was OK, I stopped it out at -£2.50, but I think the weekend charges are £13 lol, just checking thru the statement now :O

Thaks Casey, but this was just a Test to get Live again. I've never left a Live trade open over a weekend before. Worried it'll spike up ten million points and wipe me out. It's not a Guaranteed stop. What will happend it it was to open 100 points in either direction of my Limit or Stop?

****!!! Went out with a Trade running. Stop in place but not Guaranteed. Weekend. Should I be concerned?? :O

I see what you're saying Casey. What I mean is the fear got me first therefore the system failed . Not the system itself but the process. I have a checklist. My problem again today was an old one. Anticipate the drop instead of riding it. So what I mean is I failed to apply the system.

My God lolololololol

My 'System' isn't he problem. My Fear of losing money is. It's clearly Psychological. It's not about Trust. It's the Fear of Loss. Fear causes Hesitation and doubt. Same psychological fear that has governed every single endeavor I have undertaken. I don't fear failure, but I do fear financial loss. I bought and sold cars a few years ago. Pulling out 2 or 3 grand at a time had a similar effect. It's Gambling. I know my way around a car and how to fix them, what to look for, I know my way around a camera as I pull out 10k for gear, I know my way around my Carpentry tools, but this is also about Random Chance. It's a different beast. I'm going to stop playing on the Demo as @davidbrister suggested and get this Fear under control. I've proven time and time again my success rate on the demo with the same Strategy. I am the problem. I could throw 20k at this, but my Plan is to turn 2k into profit. When I've proven this, I'll Graduate myself to the next level. I was fearful simply placing the 1st bet today. The amount doesn't seem to be the problem. It's just a Fear in the background. It's going to take time before this is part of my psyche. However, I did it wrong straight away today. Picked to Stocks that were consolidating. I've tried to beat the drop again. I just wanted to take the first step back into the Live arena. The 2 trades I'm in now have been going for 1hr and 2 hrs. lol. So much for in and out in 10 mins. Slow moving traffic. They've both gone the other way and the anguish of a 2 hr wait ruins me. Soon I'll be stopped out on both for -£15 in total. I can live with a £15 lesson today. @dmedin Ocado......I won't try and save it. It's gone the wrong way on me so i'll let it fail. I'm calling it a day folks. Enjoy the weekend.

I have The FEAR lol 2 trades running for £1pp. Wow, I can't believe how much this effects me for only £2. I spent £20 last night on Wine and Food. Jeeez what is the problem here....haha

Don't wish me Luck, wish me Success. Have a great Friday people. I may go Live to apply the new things I've learned this week. Another typical Successful Run Yesterday and this morning on the Demo using only 2k. Thanks

I've assumed Volatility as in Volcanic Eruption i.e Market open or News...as you've stated....where the Candle shoots up and down. This is a 5hr chart of 300pts. only 3.7% on the day. That's 0.74% per hour. II will watch ALL vids on the Academy, but what am I missing that I will understand from IG Acedemy vids? At this stage in my learning, what I posted earlier is no way near a volatile Chart. Seriously confused. I will research Volatility and come back to this question. By all means anyone else chime in.

@Caseynotes before this gets out of hand as i can clearly sense a hint of sarcasm or reluctance, i want to make sure of a few things. This is not my post. It's an All Welcome to discuss if SB is for Fools. There are clearly issues with the Demo. If i must be directed to the Entire IG Academy before I warrant simple answers to simple questions (clearly some struggle where others don't) then what is the purpose of the the thread or the forum? I don't why why you've mentioned the Dow or Large Candles??? I showed you a 5hr chart and asked if you thought it displayed what you had outlined re Volatility etc. Things that would affect Spread size. to me it appeared that this chart over 5hrs was Not Volatile, but Active. Had Volume. So I couldn't see why the Spread was so large and so variable. I've assumed, maybe wrongly, that a person such as yourself, would be able to look at that chart and give me some clear understanding on it. I'm now assuming again that I am mistaken. I still don't know your answer to that chart and my question and entire Novel of words ago. But I value your input, so thanks.

lol So....the chart?? lol Was that a volatile stock? I didn't think so, but the spread was 60pts. I'm none the wiser on your answer this time I'm afraid. As for my Questions being difficult to answer. Clearly haha. Cheers for everything so far.

Soooo, about that chart then? I just wanted to know if that chart was Volatile or had Liquidity? 300pts 3.7% increase, 5 minute chart. A lot of words spoken to get a simple answer. Never mind. Thanks anyway.

@Caseynotes what does the Dow open have to do with the chart I've put forward for your opinion on? That chart has been open since 8am this morning. At the point I was showing you it had been open 5hrs! I'm not sure of your point. I just want your opinion on Volatility, Spread relating to that chart that been open 5hrs? Why are we talking about the Dow? lol

Annyyway, in the meantime waiting for the US to open this happened.

erm...nope! I don't think so anyway lol

This is where my knowledge has failed me David. What is a Point is it'f a £1 share price? I've only just realised the everything Left of the Decimal Point is Pence. lol I've just been focusing on the Points moved and not the value of them. It's like everything in life. You can't ask the right question if you don't understand the rules. Before we get any answers we need to understand what we're asking. All my question really comes down to is this. with 1k i can make more by utilising my Entire 1k Margin than i could if i bought the shares, but ultimately, if i use my entire 1k Margin i stand to lose a hell of a lot more than If the shares went the other way.

but to answer your question; No, I don't. 'Do you trade in the seconds following a big news event when price is whipsawing all over the the place, when spread is sky rocketing and there is massive slippage because orders at multiple handles being taken out instantly?'

erm....I'm not sure if that answered my question of 'What do you see?' I'm not asking you what you think happened inthe world to make it go up, I literally mean the Chart. The vertical red line is 8am open. It's a 5 min chart. Up over 300pts in 5 hrs or 3.7% Just wondering how you see it in relation to the info you provided. Large Volume of action. clearly moving on the 1 minute chart. Mahooosive Spread.

Please tell me what you see here Casey and relate it to the info you've provided above? Within 30 seconds the Spread went from 45-62. Updating glitch? Normal? Is this Volatile?, Liquid?