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Dunn

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About Dunn

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  1. Sorry I can't find it, I must be going crazy. However I did find you replied to someone "I gave up on breakouts a long time ago, i got trapped too many times" So are there any exceptions to your rule of always wait for the first pullback? Currently what I do is buy the breakout, but set my stop loss wide enough not to be caught out by any traps. That way I don't miss the initial beginning of the trend in the case of a late pull back, but of course the downside to that is I get a worse entry price.
  2. From reading your earlier threads I can see we're pretty similar in our trading. I focus on mainly commodities too, you know what they say "great minds think alike" For trend following systems I just find commodities seem to work better, the trends are long, well-defined, and through my eyes just easier to spot. So for my strategy it's the least risky, because they fit my system better than other instruments. I've added bitcoin to my watch list, I got sick of seeing beautiful trends from the sidelines that my system would've caught. I also like the longer term trading, I also hold my positions on average between 1 week to 1 month, I'll use a wide stop placed at a significant recent swing low, after the first pull back in the trend I'll move the stop to the swing low of the pullback, and rinse and repeat until I'm stopped out. I use no indicators, just pure price action, I find indicators are an annoyance that limit me and prevent me from making good trades
  3. Thanks for your reply, see you and trendfollower are very active helping people. I saw the advice you gave earlier in this thread about the post-mortem analysis where you saw that his long trades were on the whole profitable, and his short trades were not due to the trend/momentum on the longer time frames. That's good advice, it took me almost a year to work that out myself! I also saw you talking about break outs from the consolidation rectangle, you said you should treat sharp explosive breakouts differently from gradual breakouts. Can you expand on that please? My trading strategy is a breakout/trend following strategy so this is important for me. I can see sometimes it pulls back early, in which case waiting for the pullback would be good, but other times it just shoots up and the pull back happens much later, in which case it would've been better off not waiting for the pullback
  4. This is my first time on the IG community and reading a thread. I find this hilarious, and more importantly for the first time have seen some insight in how other traders think. Don't worry, i know what you mean. The word spreadbetting sounds like gambling because it has the word betting in it. But we're not betting on the spread, we're betting on the movement of price, and i think the reason they call it spreadbetting is simply to give it a gambling legal status to get the tax breaks. If you buy $1,000 worth of shares and pay $10 commission through a broker, or buy $1,000 worth of shares and pay $1,010 for then through spread differences then what's the difference? I don't see this as spread betting, i see it as trading normally and paying a spread fee. Spreadbetting offers leverage which is a great thing, as long as you trade with a plan and know exactly how much you're risking then there shouldn't be any surprises. I've never understood when people say leverage is risky, on the platform before you put on a trade you can clearly see the monetary value of your loss should your stop be hit, if you think it's too high, make your position size smaller. Out of interest do you use the guaranteed stops? The insurance of having it is great, but the premium is pretty high. 99.9% of the time it's not needed, but for occurrences like what happened to the Swiss Franc it would save my esra
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