nit2wynit

I totally effed up today. Like I'd never even seen a chart before. I know it was fear. I knew I was going live today and didn't sleep well. Was up at 6. Watching Pre market from 7-8. Read about Trump, Brexit and FTSE NEWS and I actually was expecting a huge drop. So right off the bat i was in the wrong mindset. I kept waiting for it to drop.. It didn't, it just kept going up, then when it did reverse, i went all in thinking this was the big drop only for it to change direction. Like it can be seen in hindsight, today was an uptrend. I know I have a bad habit of trying to anticipate the breakouts. Then I seen that Uber was being investigated for Tax, It dropped massively today, and tried to get in on it. I was already £100 under at this point. The drop was aggressive and stopped me out immediately for £54 loss. Thanks for the feedback folks. Here to fight another day.

I'll try again tomorrow and see if that works. My stops are a direct relation to the movement within the trend. Today i just had every Bet going the wrong way. We'll see. Whatch this space for a bankruptcy notice. lol

Thanks for stopping by @Caseynotes @dmedin Yeah.........what else is there to say. Must be the fear! I'm £600 down now since march. Hundreds could have been made today on the FTSE but I was clearly not in a the right mind. The Demo practice was with a 2k account too. £5 per point. 5pt stop loss. I rarely let it go past £15) Margin of around £1800. I concentrated mostly on £10 wins but literally every trade (bar 2 or 3) went the other way. Un-believable Statistically. This is the complete opposite of what I've been achieving on the Demo. What this space to see what I'm down tomorrow lol.

Call me a fool. I feel it important to keep you all up to date with my progress. I've been posting screen shots of my Wins on the Demo. I have been easily achieving around £100 per day (2hrs) with 80% winning trades. I've gone Live again today for the 2nd time with 2k. I've lost 90% of my trades and down £230 in 3hrs on the FTSE. £55 on Uber in 2 seconds. I've already been sick once. Something is clearly not right here. Even using the lowest stake I can't win £2. The chart appears to freeze for a moment when I Buy in. then it reverses. I noticed this a few months ago when I started and commented that my Buy In almost always becomes the point of reversal. I went back to the Demo (back then) and proved a winning streak. went back Live lost it all again. I know we're going to put it down to psychology and fear of Loss. I don't know what to think.

I posted that as my strategy. Maybe I wasn't clear in my post. I was showing how I learn. I knew each of those 20's was going to fail. The Ups and Downs were about 4 or 5 points. I was only using a 4pt stop loss. I set them up to fail. What I mean is I re-affirmed what i thought would happen by doing to the opposite. I never left the screen in the last half hour. I let them fail on purpose to confirm my learning. I even set up the £10 win to fail but it actually went the right way, hence why I called it a fail. It's good to make purposeful mistakes. They also prove you know when you're making a mistake as well as making a Win. Proving your Gut and your ego. not been trading today. Well, only 1 trade and up £20 so 100% win lol

David you've missed the details. I did those on purpose. I prove my wins as well as my fails.

Right, for those interested this is a typical day of late. You'll notice the Red boxes and the Blue. The Red boxes are actually real Fails. The Blue Boxes are me Proving Fails. What I mean is I set up trades to prove the reasoning they can and will go the other way and that returning after a long day is not wise. Ironically the £10 in between the 2 Red boxes was not a win but a Fail because i expected it to go Down instead of up. So chalk the £10 win to a Fail. You can see around 4pm that i got out of 2 trades that clearly showed me I may have read it all wrong but luckily managed 2 small profits. Then I set out to prove the fails. I would not normally allow them to reach -£20. Having convinced myself I knew what i was reading after I corrected myself, i waited for the anticipated drop. I was pretty sure in my thinking that the FTSE was going to drop by the end of the day. It clearly did in the last few mins. this was done using a simulated 2k account. The margin was around £1800. Adding up the figure below will give a Net Profit of £70. However, if i add, or remove the Proof Fails it's around £170.

I probably won't be doing any more today as have a few things to take care of. I can often trade like this. But i can't afford to take my eyes off the screen. I will do this every day. Longer goals is to Trades Shares directly as the more I add to my account the great the cost to the stake and potential greater losses. Buying shares directly and controlling my Stops will prove more advantageous dealing Shares I think.

To the OP. @johnt4917 My strategy is Easy. Though I'm on demo for now. Regardless of account size, i work the equation of Stake vs Stop Loss vs Profit, based upon Points moved within a 5 minute time limit. I often find or look for Consolidation points and place makers for Support and Resistance and play within those moves. I'm happy to answer any other question if you want to try it out. My plan is to Day Trade and make £200 per day. I hope to achieve this by applying several trades throughout a 4 hour period and taking smaller profit from £10 upwards. My stop loss is never more than £25 and I'll usually never allow it to go that far especially if I'm in front of the screen. This is my strategy based upon the cost to Share Deal vs SB. I never want to risk much more than I would if I had simply bought shares and sold them. The price to buy shares is around £10. Therefore I SB and try to keep my losses to the cost of Share dealing.

@Caseynotes you're agreeing with me..........I'm not sure why the Back and Forth This below is Prior Knowledge. You need this before you apply a Strategy, OR Buy Off the Shelf. 'what does the chart structure look like, are there good S&R levels, where is a good place for the stop, where would opposing pressure come in, is the price action clean or choppy, is volatility and volume increasing or decreasing, where might traders get trapped, what are sidelined traders thinking, where might they enter, where will losers cut their losses.' Sure you can pick a Strategy Off the Shelf without prior knowledge. But will you even understand it? You simply must have knowledge of the process first. The ability to Buy a working Strategy is not what the post is about. The context of the question is 'Share with me your winning strategy?' I've won 3 trades on the demo for £47 in a few minutes. I only placed 3 trades. I went to make coffee. I played for small profits on each. £20 £20 and £7 This was a strategy, but I could only apply it after I've acquired the knowledge to understand what I'm looking at. This was knowledge in action. My Strategy was based upon what I know and understand. I couldn't apply any kind of strategy if i didn't even know what I wanted to achieve. It's clear that most in here don't Day Trade. To some it even appears counter productive or Alien. To me, it's all I know. It all comes under the umbrella of 'Trading'. It's an accumulation of knowledge. To split it in to parts and suppose each is separate is counter productive. I'm no longer sure what the post is even about haha. I've never suggested to Not have a Strategy. I said it was based upon what you actually know first and that it was secondary to gained knowledge. Therefore the importance of a Strategy is limited to your understanding and can fail because of ignorance. Strategy is the last thing to form after prior learning. My strategy is so simple and so quick, but it requires a certain mindset and knowledge that is not suited to all. I could share my Strategy, I have no problem doing so, but unless the OP even understand what they want to achieve, it most likely won't make sense.

@davidbrister re. the Demo, I've actually read it a few times that the Demo account is a Testing Platform to be used for improvements, so @Caseynotes may be correct on this point. You're correct about the psychology of Demo Trading. I failed too when I went live, but i failed for a simple reason; I didn't adjust my Stake and Stop Losses for a smaller account. However i didn't find any other difference from Demo to Live. In fact i went Live simply to see if there was a difference. It's possible it was so slight I didn't notice.

@Caseynotes I think my point was missed. Yes i agree with everything you've posted above, but a Strategy is Secondary to Sound Knowledge. Only AFTER you have Sound Knowledge can you form a Strategy. My point being, if you try to form a Strategy BEFORE you understand the machine, it will likely fail. Therefore the importance of a Strategy can only be referred to as the Final Stage AFTER you understand your own question and knowledge. To make my point more clear moving forward, the question of Strategy might better be served if it was like this: 'Don't form a strategy until your knowledge is sound.' Your greatest asset is your understanding of what you want to achieve and how to achieve it. This relates to anything and everything in life. A strategy will be formed afterwards. It could simply be realised as saying: 'Right, I've learned what it is i want to achieve, now I will create an action plan of how to achieve it. Although this appears to be 2 questions, it's actually only one Plan. It just has 2 parts. A Strategy is the very last thing to do. In direct relation to the Question itself, I find it a Moot Point. It's kind of like saying: I've decided what I want to eat, now I must eat it. It's all part of the same pie; What do i want to achieve? How do I achieve it?.

erm... Strategy is Over Rated IMO. Knowledge is the key defining point. Of course, Knowledge is the foundation fo strategy, but to focus on the strategy, means to miss out on the knowledge that is required first. Strategy is secondary to knowledge. no point having a strategy, if you've no idea what you're doing.! Do you understand the Instrument, the Platform, your profit Loss, Volatility etc.? Can you afford to lose? Psychology is behind all of this. It's not magic; it's science. The understanding of what goes on behind the Candle sticks. I may not be a successful trader; yet. but I'm not concerned about the supposed time needed to learn, acquire knowledge, fine tune discipline. It's charts going up and down. It's News or a catalyst that will help you pre-empt the direction to go in. I'm astonished by the sheer amount of debate, and argument over something so simple. Will it go up or down? Apply your knowledge. Place your bets.

@dmedin i didn't lose the entire account, just the profit from the previous day

@dmedin Losing it the next day was me being foolish. I've only started trading in march. never before that. Plus that WAS a Live account. Here's a previous run off successes (Demo). Regardless of the amounts, it shows the wins rate. In a short time i was doing ok with the charts. but I'm on 1 minute watching like a hawk. I cut my losses usually well before my stops. Caught me out a few times though. It was shortly after this I went live, but didn't adjust for a smaller £1400 account. so got stopped out frequently.

@TrendFollower Good tip today for FTSE100. It's not something i usually consider. Demoing as if I had 2k account I've made about £200 today (Since i started at 1pm) but lost some too. The one's i lost is where I left the screen. As I'm having to live with Automatic stop limits. up £106. I just need to do this everyday without the losses

@TrendFollower Yes my risk management is in the belief of certainty that the trend is going up or down. Every trade will have a maximum Stop loss that will never breach more than £50, but usually no more than £15, however this also requires movement up or down within the trend fluctuation. Hypocritically, I know what to do and how to do it. I'm just not applying it every time. This is my Discipline Training phase. For instance, several months ago, I made about £200 on the 'US Russell 2000'. It was a great set up. If I remember I made several good runs up and down as it consolidated. All with a 1k account. This took about 4 hours to complete, making anything from £25 to £80 each trade. It was a good day. Lost it all the next day. this is the point when i went from £1250 to 1k and pulled out to buy Pinterest. So i left on a big losing day.

@TrendFollower Yes, this is what i am currently doing. If I'm pretty confident in a move I will go all in on Margin and take profit as it goes up or down a few points. If i aim for £20 profit per trade, I'd be aiming for 5 decent trades in a 4 hour session. However, I'd be happy to attain £250 profit per week. This money ill not be to live on but to grow the account balance. As we've touched upon earlier in the year, I'm trying to figure out which platform will be more beneficial. SB vs Share dealing. I've only just figured out this morning that most of the Small Cap UK aren't available to me on SB. Therefore my only option is stock that may move 25 to 50 points in half hour sessions and go in for £1 pp Cheers.

@TrendFollower I'm in my mid 40's but have not worked for anyone since I was 21. I've either been in education or Self Employment. I have been an Entrepreneur in many areas. However, all endeavors have now come to an end. My partner and I live to a budget. She works full time, but we are in agreement that i would take a year out to learn to Day Trade and Invest. My journey started in March this year, but side stepped to buy Pinterest shares. However, i have a strict balance of 1k and must see profit from it as soon as humanely possible in order to consider moving with it. But having taken nearly 2 months off, it's time to re-learn SB OR move to a Share Dealing only account to apply the disciplines I've come to understand. However, this said, I may need to take advantage of SB here in the UK, so for now it's back to the Demo and back to the Notepad. As to why I don't or haven't yet considered ETF's etc, or FX. Volatility, small account, lack of insight. I can only focus on one Instrument at a time. @davidbrister sound advice, thanks. i learned watching Ross Cameron of Warrior Trading. If you don't know you can find him all over YT or the Web. While we all understand shares price can go up or down, it's about making sure you have good certainty it's going up. However, with Share Dealing you pay a small commission. With Spread betting using your entire account (in this case 1K) the Spread and Stop Losses are too great. I can end up £30 under before I've even started. Yes, this means I need to reduce my stake to a smaller £1 pp. But then my funds are tied in longer periods to make the same profit. I'm still working out the figures re SB vs Share dealing. Spread Betting is entirely new to me in the recent months. Trying to get my head around Spread, Margin etc. compared to simply buying shares and selling them, has required a fresh look at what I'm doing. I'm still on the fence.

@TrendFollower @Caseynotes You have both offered considerable and sound advice on another thread 'Is SB for fools'. I'm knew to this whole thing, but not new to life and ourselves as people. I had no idea there was such a bad energy between you too, but it is sad to witness on a Public Trading Forum. Whatever has come between you I suggest you talk privately to work it out. There are enough keyboard warriors on FB and Twitter to bring it here too. Nothing is Fact, everything is opinion. Ego is at play here. We all need to keep it in check. We all lose if we can't communicate effectively. i wonder if we can place a bet on you both and create a chart? Peace out people. Keep the advice coming, but leave the negative energies in the schoolyard.

@JamesIG Hi. Does Pro RealTime have an extensive Instrument Filter option? For instance, I'd like to arrange my search list by percentage moves on the day. When I opened my account 2 months ago, I opted for the Trial of PRT but never had a chance to use it. Can we arrange for me to access the trial again? Thanks

Take a look at Electrocomponents PLC. Great gains to be had long or short.

@dmedin i can tell you this for sure as i did it when i finished using the Demo 2 months back. Using a 1k account i could make £50 in minutes using my entire 1k Margin. i was 50/50 on my trades. However, i left £400 down from £1400, to buy Pinterest shares. over 3 weeks of live trading i could be up or down £100-£200 per day, back and forth. So i know it can be done. I just need to find out what I was doing right and more importantly, what I was doing wrong. I've since forgot it all so learning from scratch in a bad way. :O

@TrendFollower i think what has been missed in my posts, is my Reason? this is all i am doing. this is now Full Time. I've turned my back on everything else. I dedicate my entire day (bar housework, improvements eating etc.) to studying, learning, research, q&A as in here, Demo etc. What's happening in the world. What's next. My Reason it to create weekly or monthly income. Daily Earnings. Everything works to someone; it must do. This is why so many people do it. I'm not here for Long Term investing, though if you have a tip i'll take it I've 1k in Pinterest so far. Made £450, bt it'a back down to about £36 profit. It'll stay there till it fails. When i can confirm what platform, what scanner etc. i'll go Live after proving a few. This is now my job.

ok @JamesIG Thanks for the info. a small print i wasn't aware of. I'll need to readjust again. Cheers. ☹️ Is there a future update to the platform that simple removes these stocks from the list? Will there be a % filter? an Instrument Type filter for instance? Basically, will the platform be improved by way of a more thorough and effective Instrument Filter? I spent 2 month researching Buying and Selling Shares. If i can't find a way to adapt the platform to help me with a Day Trading strategy then it will prove unsuitable to me moving forward. Thanks.