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davidbrister

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Everything posted by davidbrister

  1. it seems there was a 1500 point stop loss, but im guessing it was hoping for a price reversal before that took effect. what that big jump down did do was achieve the take profit on the 4 old positions that were sitting at almost $4k loss on paper, but were triggered with good results in the end. the trade that lost me the 2100 was a manual placed order i put on, which then i panicked and sold instead of keeping, even knowing the charts were suggesting hold and wait longer term for the price to go up. but thats the game.
  2. Th That open drop last monday cost me $2100, if only i had the nerve to hold it for a couple of days, would have made a approx $1500 profit, but thats the game we play.
  3. @nit2wynit, i like your thoughts about not losing, but gained an education, pretty positive take on the situation, good to hear
  4. @nit2wynit , i wouldnt keep changing the amount you use just because you had a win. hell while your still learning and playing on the live market, i would only be using $1 a point, so that u can get a better feel for it and not risk too much, yes if you get it right and it moves 10 points its only $10, but if it loses it could be $100 instead of $10. it prolongs your stay in the live market by letting you risk smaller amounts, ultimately,small regular gains will far outway massive 1 hit wonders mixed with big loses.
  5. so simply then - Down on open
  6. Hey @Caseynotes, after the Weekends USA and Chinas trade talks, whats your feeling on Movement monday morning, Up or Down?
  7. @dmedin, lol. if you want dumb, take a look at the asian markets- Hang Seng and Niki, it jumps up and down so bad in big numbers, that 1 is easy to lose cash on.
  8. @nit2wynit heres the FTSE graph for today, should be more than enough waves to ride and scalp the market mate, some nice big ups and downs. The Macd has a normal set of numbers 12, 26, 9, but i use 6, 13, 8 as it makes the cross over happen approx 4 mins earlier letting me on, before it moves too far away. just my preference.
  9. @nit2wynit, MACd is 1 of the easiest indicators to use i found, but i think you need to play around with all the indicators in the demo to see how they work, and find 2-3 good ones that work for u, or you feel real comfortable using/reading. You can google search an explanation of them all, when i first started i played with a lot of them, i then tried a few together to see which ones worked better with each other, that gave me a clear picture in an instance glance Finding the right indicators as suggested by somebody else is the key to making it work for you, rather than making you work for it. The other thing as a day trader to make it work in my opinion is focus on an Index like the FTSE since your in the UK, theres enough waves to ride in the 1st couple hours to make your desired goal and then get off the markets for the rest of the day, which u have said you wanted to do. If you were setting up to follow trends and take the long positions, then you could study more share charts to find the right ones.
  10. From my experience with the RSI indicator, once it gets back down to that 30's mark, it tends to then swing back up. The high volume sell off in that last volume stick and the price drop in the candle could indicate a move to a short position, personally i use the Parabolic SAR with the Macd as my indicators, havent done too much with the Fib charts. The problem i see with drawing your own lines on the chart is that you can make them any where you want to fit your narrative, which can screw your chart to suit your mind, not your trading plan, so i would be very careful with that. with out my normal indicators, im going to say its over sold from the RSI and it will move up not down, but i hope for your sake im wrong. Be interesting to see where it goes, hope u update it later.
  11. yes i believe @greenscorpio1000 is refering to the dividend adjustments. If you are looking at say the AUS200 index, and 1 or more of those listed companies in the index post a dividend, then that shares tends to drop on the day of paying the dividend (not always but often), and so IG make an adjustment because if u had a sell position and the index drops u make extra profit from it so to make it even theres an adjustment as those that had a buy position just lost more due to the dividend drop in the price.
  12. What was your JD Sports idea? i must have missed that sorry
  13. @nit2wynit, the market is closed now, so you cant do anything till it reopens monday morning, but watch out for opening crazy ups and downs before it settles in for the day.
  14. @dmedin, Change it!!! because theres a fault that you havent realised yet. Find yourself a trading partner, some one u trust, that you can bounce ideas off and discuss plans strategy, get them to read and go over your plan, maybe you missed something, a 2nd pair of eyes and a fresh brain might pick it up. I would have hoped that this sort of forum could be that trading partner, but maybe its too open, depends like myself sharing my Auto Trade Program im putting it out there for the experiment, but for some who are more sheltered 1 on 1 or a small group may be better. best of luck.
  15. @nit2wynit It is dangerous beast to train and control, and even with the strictest rules set in place, (type type them up and print them out, stick on PC side or wall above monitor) once you press the Go Button, doubt and 2nd guessing yourself turns you into a monster. Even now with my Auto Trading, im analyzing the open trades too much and get that fear of should i adjust something instead of just let it go. I dont touch it, but by god do i want too, lol.
  16. Yes it seems you were mixing the Share Price with Points. Best thing about CFD or spread betting is you can make money both ways up and down, if you buy the share, you can only make money if it goes up. Which is why it pays to play with $1-$10 share prices as smaller lots of cheaper shares move more for you to cover the $16 fees that James showed before, but buying large priced shares with out much movement dont tend to cover the fees unless u have spent up big. Compared to if the spread is 3 points and it moves forward/back 4 points im now in profit depending on BUY/SELL order.
  17. From that example @nit2wynit how much are you betting per point? from $1 to $2 its 100 points of movement. If you had only used $1 a point you would make $100, but if you used $5 a point then you just made $500. Most markets have a bigger spread when they are closed compared to when they are open. I guess i never worried about the spread factor as much, if the item was worth $1 with a 3pt spread, then in the open market it would show a BUY position for say $0.97 and a SELL position for $1.03 and as long as i sold it on the other side of the $1 either way i was ahead. It looks like you might have got your answer above, i hope so mate. Best of luck with it. I still only see Nitwit, and laugh knowing its not that now, lol
  18. i practiced on the demo for almost 12 months before my wife would let me play with real money, lol. i wish i had started using the live account sooner, as i built up a very strong demo account and thought i had this nutted out only to be raped in my first few days of live trading, it was bind blowing to say the least, and the biggest thing i learned is that the fear factor is almost zero using the demo, but the moment it becomes real wow total different set of emotions come into play.
  19. @Albeegh05, you can check this thread out and i will send you a PM. Cheers DJ
  20. Skepticism and fear is what stops people jumping on the band wagon, But when my auto trader makes an actual loss i i will let u know, till then another $30 over night and a total of $412.02 in 19 days. and i agree on the gamblers with different system.
  21. MMMM far to involved, its 1 thing to come up with a trading plan/strategy and attempt to make it work, but over crowding ones brain with analytical data of others ideas and probability combating my own thoughts, its any wonder i have moved to an Auto Trading program, my mind relaxes so much more, but thanks @Mercury and @Caseynotes. Those are pretty coloured lines at the bottom of your graph Casey, im not even going to try and understand nor do i feel the need to know the how and whys of how they relate to the chart above it. Cheers Guys!!
  22. @Mercury, yer it was asked of you mate, sorry, rather new here and still learning the tricks of the forum. Thanks for your response. What does COT stand for please?
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