nit2wynit
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Posts posted by nit2wynit
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1 minute ago, dmedin said:
From my memory of the last year, this has happened each time the U.S. indices made a big downward movement at the open. Coincidence
Several countries already officially in Recession. this could be the big one. Get your bags ready............If you can access the **** charts that is!
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As soon as US opened it went down. I've been on all morning!
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Nothing is loading. Not even IG itself. Everything else is fine. If they DO load, they've defaulted AGAIN, but charts won't load.
WTF is going on now?
Don't tell me....It's my end!!
Have I called? ****....Why would I do that? to be ignored. To tell me to check my internet?
Why the hell am I still here??????? -
I seen this also and commented on a YT trading channel. It also happened on Amazon @ $760.......
Oddly enough my IG isn't loading again! and if it does the charts aren't loading.
Quick update, my Share Dealing platform has defaulted to the Classic again!-
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My last £500 was revenge trading. I was in Long and risked it all on Novavax at 7.50. It went to £10 but i bottled it and got out. Next day it opened at 15, and since then it's gone to 170 back to 100. Small fortune missed again.
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22 minutes ago, DSchenk said:
You didn't read the whole post. 4-1 was my intial set-up, but changed to 2-1 from May and had a good run with that until early July.
No, i did read it pal, but was wondering on the results. If you're saying 80% they actually went against and you doubled up on the way back up then technically they failed. But i think I understand where you're coming from now. I did this yesterday with FLDM. Got in high, it retraced, so I 4x up at the bottom and made a profit as it returned to my Buy In.....but it's not something I'll do often.
I totally figured out where my losses were previously. I thought every trade was a winner and technically they were, but only like 5-20%. I wouldn't take the profit soon enough thinking they were going to the moon. From now on it's 2:1 profit and tight stops like always.
In 18 months I'm down £1900, but I was going to pay 3k for a course so I've saved and learned along the way.
You can be taught almost everything except your emotion or how to understand your own motives ans reasoning. I think I've figured it out. -
1 minute ago, Caseynotes said:
ok, I did gather the large spreads on the small caps was causing a problem for the strategy.
There's a common figure that goes around that it can/will take you about 18 months to figure out what is actually happening on screen and behind it. I feel that I now have a greater understanding of the whole process and I'm ready to start again.
Despite our disagreements over the last 18 months, I thank you for your input and can understand the frustration you might have suffered as a result of my Noob journey. -
On 05/08/2020 at 10:41, Caseynotes said:
I think it was the constant reports of accounts being blown up.
I missed this reply.
I blew my account (quit at my max loss as I learned) because I DIDN'T follow the strategy. It's too difficult to follow with Spreadbetting. We don't have access to Low Cap Stock and when we do the spread is too great.
I've had more success since I moved to Share Dealing directly but just getting started. -
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@DSchenk
I've not been in here for a while now.
It's good to hear you're still in the game, but saddening that you were still somehow playing 4-1. I don't get it. Can you tell me how many times you were initially wrong on your 80% wins? How far did they go the wrong way before they went the right way? Or did they all work from where you got in?
I've almost given up on Spreadbetting shares, especially Low Cap and have instead moved my money to Shares. I've only just started and missed growing my account 100% in the last week. Even this week I was in NiO @ 14.55 and over night it went up about 13%, but I'd mis-calculated my Stop too close and Stopped Out shortly after the opening bell. As is now clear, it's over $20. I've caught some other great moves too with Virgin Galactic in at $16 and out at $25 for instance and Velocycs 6 up to 9.
Today is a new IPO in Xpeng or Xpev. Chinese Electric motor company. However, I think it's over priced.
In hindsight, the ability to simply Swing the trade till it recovers, without actually risking a huge pullback Loss while SB'ing has eased my conscience a little. I've learned more about timing actually trading shares than I ever did with SB as the losses can almost always recover, but the real world loss in SB now makes me physically sick. Investing is better for me for now.-
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I can't believe this debate still has so such cynicism and doubt.
What is so hard to understand? lol
A stock moves 20% or more in a day. If you're lucky enough to pick the right one based on News or Earnings or FDA approval or Patent then you'll get a 100% spike or whatever it is.
Most of the time there will be a spike off the Bell, then a Sell off to Take Profit, then a return to half way on the day.
Of course it works. How can there even be a doubt?
Expecting large moves on Amazon is less likely and ultimately requires a fecking massive stake to make a return. Focusing on Penny Stocks means you can Buy More. A $1 stock is more likely to go 100% than Tesla or Amazon! However the moves potential is the same, relatively. $1 moves 100% while a $1000 moves 1%. Buy 1000@ $1, or buy 1@ $1000. However, buying more stocks allows you to scale out if need be. I shouldn't have to explain the validity of this ****. It's basic trading.
My portfolio was up 50% last week. It's now down to 4%. I took out profit and re-invested to grow my portfolio. If I took the profit on the high and got back in on the low, I'd make more. Same on the 1-5min chart off the bell. You get large moves in a short time and it comes back again. Jeeeez.
You want a stock to watch? Velocycs Plc. but don't blame me if it tanks.
@DavyJones
I hear ya on Buying Shares directly, but unless you have Hotkeys, it's very difficult to get in and out in moments. Also the fees and Tax attached. The hook here is SB is Tax Free, so trying to make it work is my goal. We're fortunate to have it here in the UK. It's banned in many parts of the world. We just need to adjust our strategy. In for longer, take less profit thru the spread. ask me how I'm doing in a years time.
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You certainly can make money. Great post btw. I only started trading April 19, and it was a trial by fire for sure. However, within 6 months it was clearly evident that it was very difficult or impossible to trade Small Cap Stock while Spread Betting.
I'll basically sum Day Trading up and Spread Betting in one small paragraph:
You can do it, but it's extremely difficult. The lack of Small Cap Stock available while Spread Betting is probably the only real issue that matters. Everything else is simply Trading Good or Bad strategies.
If you consider that trading Breakouts (for instance) requires a good selection of stocks to trade and only 1 or 2 of them have the greatest potential, then realising that most of the potential Breakout Stocks aren't actually available with IG or Spread Betting dictates the odds in a forever decreasing pit of despair.
However, finding stocks to trade Intra Day or Swing isn't at all a problem. Buying Shares is a breeze too.
I've proven to myself very recently that with only £20 you can generate a profit Spread Betting small cap stock.
My problem has most often been not taking profit when it's there and holding out for more. My current win rate is 45%, but my PL is 1.4. However, my Shares account was up 30% this week but I'm anticipating a full reversal on all of them.
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1 hour ago, dmedin said:
Get on the blower and let them know.
Not really much point is there? Nothing is resolved anytime I've called in the past.
I've opened a Degiro account. See how that goes.-
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Never mind. I was able to execute with a Quote. Limit Order wasn't having it.
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It's not in auction or phone only. The light is Green! Still can't Trade. Order won't execute either.
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This is my Share dealing account.
Symphony Environmental Tech.
Can anyone shed any light on this?Thanks.
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Well if anyone else is interested, here's an update.
I had a Short position on SIG Plc on the 19th June 2020. My chart froze sometime after either hours or days I'm not sure, with the message to Call to Trade only. I called and a guy tried to explain what had happened. There was an Open Offer and the market was temporarily closed. I asked him what it meant and he said don't worry. Do nothing and it will expire, so I left it. I closed my Sig Short on the 23rd June.
I received an email from IG dated 23rd June at 13.41. Note that it's the 23rd!. In the email the Expiry of the Offer was the 22nd June! The Day Before.!
I've called IG again today after 40 mins on hold and a 20 mins conversation to be told that the previous guy i spoke to has put in his notes I asked about advice on an open offer on a LONG position!!!! If it was a Long Position i could leave it and it would expire no consequence. What he didn't tell me was that If it was a Short position I needed to Close my Trade by the 22nd.. The 22nd! I called before then!. I didn't get the email until the 23rd telling me the expiry was the 22nd.
What the hell has happened here?
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10 minutes ago, DavyJones said:
I made a post about this a while ago. I really struggle to see how you can make money day trading with stocks, unless as you say adjust P/L ratio, hope for larger moves or very confident of the direction. I find a 15chart is about the shortest I can use for (5mins for entry, hourly for trend ). and realistically the trade will run for hours all of which time odds are going against you for a reversal.
Indices, oil, gold I have had better luck but again only
Side note: Advantage of a trade journal and screen shots. It highlighted this as the major stumbling block!
I think the unspoken word with Day Trading stocks is small profits in short time then repeat. What this achieves is Free Time. A stock can jump 20% in the first half hour. It will or might retrace the full amount and slowly climb again for the rest of the day, hence In and Out then you're done. I'm yet to prove my success personally, though my success by my Analysis with IG is currently 50% with 1:2 PL. I've adjusted myself massively to take a profit at 1:2. Keep my stops at 1.5x Spread OR below red candle on pullback. Only get in on New High of Previous Day. Anything else I try to avoid. I trade less and end up Swing trading on other longer plays.
My worst 'Winner' recently was Velocycs Plc. I was holding a position for a month from 2.5p.......got out and the next day it moved to 16p. I was in too early, and got out too early too.
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2 hours ago, aggreg8te said:
I've just signed up, deposited money and was excited about my first trade. Then spent 38 mins and 2 secs waiting for someone to answer the phone with no success. No live chat available. The share price has already moved up two points in this time. I am trying to make my first share trade and as a newbie wanted someone to talk me through it. I just wanted to add a stop loss or trailing stop and can't find anywhere obvious to action it? Already very disappointed with the customer service of IG. Can anyone help? Thanks.
Hi, I'm not sure i follow you.
Spread Betting and Share Dealing are not the same thing. As you've stated Buying Shares, then I'm going to assume this is what you mean. But if this is actually what you mean, then you can't add a Trailing Stop to a Share Account. They don't operate the same way.
Shares are bought and sold. You literally Own them. they are your share of a company.
Spread Betting is simply forecasting the direction of a share price. You don't own anything.
So, to clarify, if you want to Buy and Sell Shares, you do that with the Share dealing Platform. You cannot add a Stop or a Limit, but you can Buy or Sell anytime the market is open.
Spread betting Retail Platform allows you to bet on the direction of the market. You can place Stops and Limits.
Let me know if I can help you further. -
Why not try this?
Last year I traded the FTSE. It was at a Support Level and on News I was anticipating a rise. I bet as small as I could.
If I'd simply gone Long with 1 trade, I'd have made a profit of £20, but what I actually did was an exercise in Timing. Getting in and getting out; Anticipating Ups and Downs. I placed about 20 Trades in total and made £50 instead of £20, but also gave back £16 on the way up; roughly 70% success. So from point to point the Trade was worth £20, but I made £36 practicing. It was exhausting, but I proved to myself I could read the chart in front of me. How I actually came to blow my account was by trying to play a long game, with a short strategy. then, like you. I quit.
I haven't given up, but I've invested instead. Spread Betting may not be the way to go for Intra Day or Day Trading. sure it can work, but it's difficult. -
5 minutes ago, u0362565 said:
I'm just glad i managed to put a mental stop on it now, the worry was i wasn't going to be able to stop
I believe if you've managed to stop trading so you can re-evaluate, then you're already succeeding.
This is page one. Now onto page 2. Dealing with Loss.
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4 minutes ago, u0362565 said:
Point taken, but right now i've put a mental stop on losing any more money. I had a shot and it didn't work out i want to prove that technically something can work and in the mean time i can earn back some of what i lost through the day job. I was constantly thinking its 50/50 i'll claw what i lost back but it wasn't happening and just got further away, then if you're not careful and you don't break from that mentality you could see it all gone, was concerned it was going to become an addiction and i'm sure it could. I started too big and scared myself basically. Given the climate right now, not the best time to throw some money away if 've got my sensible head on.
I had a limit of £1400 last year. as soon as I hit this I pulled my money out and went back to my notes. All over my note book are the words in bold.
STOP BUYING THE RISE-BUY THE DIP, NOT THE RISE.
Over and over I'd do the same thing. Knowing what you've done is as valuable as knowing what to do.
Don't give up. Losing is the first lesson.
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As a strict rule now, my Stop is below the red candle on the pullback OR 1.5x the Spread size. It cannot be dictated by an amount. The amount is determined by the position on the chart and the risk will always be determined by Price movement SL and Pullback points. This is also why it's important to trade stocks with small spread thus limiting risk amount.
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22 minutes ago, u0362565 said:
I had considered that approach but the problem for me is that trading small sizes psychology wise is like trading demo so my mind doesn't take it as seriously as when the sizes are bigger, so for example i'm much more likely to put a wider perhaps more realistic stop on a low bet size vs something that could lose me a lot if it goes belly up and hence that's part of the problem. But generally i think you're right small sizes, build up and hope your psychology evolves with the size.
If you're changing Stop and Limit based upon account size then you're arguing with your own strategy.
It's important to know what strategy you're applying to a trade before money even comes in to it.
If a Day Trade Gap and Go has the potential to make 10% ore more but you allow a larger Stop because of a smaller account then you're changing the statistical narrative of the trade. A Gap and Go will go up then often Retrace, then go again half way at the end of the day. If you move your Stop lower, then it's very likely it's going to come right back down for a loss. -
30 minutes ago, u0362565 said:
Interesting, i'm not sure what the answer is but its perhaps telling that SB's aren't taxed because the tax man clearly knows most won't actually make any money anyway. I just went back to demo, and took the rest of my live account with me and of course i'm making some money again Ahhhhhhhh! Stick with demo stick with demo.. if this is consistently profitable i guess i know my issue is the pychology of real money.
Yes, the demo will show you the technical side of winning and losing, but not the Achilles heel of psychological loss; it's a downward trend to use a pun.
Stay away from the demo. Bet low and often but make sure you're sure of where it's going when you're getting in and when you're getting out. It's important to remember that Losing is essential to psychological learning. We must risk and lose and accept before we can trade with confidence.
Day Trading is a smaller time frame. In and out in minutes on small moves. The problem with SB and Day Trading is the small moves can often be the Spread so getting in and out is almost impossible. However, the benefit is of course, it's Tax Free. What this means is we must get out sooner than you would than if you were actually Buying and Selling shares. It's the Spread that is creating the issue with Day Trading and Spread Betting, especially when we're talking about Scalping. It means we need to take extra care on choosing our trades. They need to be able to run longer and wider to cover the spread OR we simply need to realise we must accept a lesser profit and adjust our PL ratio. If a trade moves 10pts or 10% or whatever, but the spread is 7pt, then we're not going to make much on it unless we're in very early and exit as late as possible, thus being longer in the trade allows for more chance of it reversing.
I can't be the only one again having problems with this platform?
in Shares and ETFs
Posted · Edited by nit2wynit
Erm...............................Where's the US Indicies? 😮
It's back at 15.12 hahahha WAdaFERK