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Nelsy-Boy

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Nelsy-Boy last won the day on August 5

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About Nelsy-Boy

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  1. Hi @dmedin. It doesn't sound sad to me. Sounds pretty normal for someone who hasn't settled in to a comfortable strategy or timeframe. I have been there on more than one occasion. I personally find the 15m charts way too fast. I only trade dailys but if you are able to monitor/trade throughout the day then I found the 1hr charts the easiest to follow. Most of the time, checking the close on the hour, depending what I am monitoring. Alternatively, using the alerts are quite helpful. What do you think about that?
  2. @dmedinLooking at the daily, I note three days of downward movement followed by the last three days of upward which has only just about covered the movement of the last day down. Therefore, I think the next move is down. Not sure by how much though.
  3. @dmedin don't forget the gap on the daily chart around 1804. Looks like their is a good chance it will reach that. Least I hope it does.
  4. @TheGuru12 If you have a decent strategy based on the daily chart for spread betting. Do you think you can obtain a decent strategy based on say a weekly or monthly chart that you can use to physically buy shares based on chart TA alone?
  5. Based on my daily chart strategy, I see divergence on RSI and Stochastic. Therefore, I should trade this long right now. On this occasion though, I feel a bit nervy. Anyone thinking the same?
  6. @nit2wynit I say graphs but I call them charts as well just to confuse me. I only asked as I have seen your posts on spread betting and wondered if you used the same principles as betting as you do when you physically buy shares.
  7. Hi @nit2wynit May I ask if you use your IG graphs and indicators before physically purchasing shares?
  8. @dmedin the stop loss I set could be as much as £50 but that is the max I will go to. Therefore at 50ppp I am limited to waiting for the right entry point. For example, in the attached US Tech, there is good divergence in the RSI and small divergence in the Stoch and the stoch has crossed up. However, to enter a buy now would be too risky based on the level the price has moved up as my stop would have to be set below the the prior red candle. I like the daily charts because I can spend time on reviewing my positions in the evening and pretty much the whole days trading is reflected on the graph and indicators.
  9. That is an interesting point. Isn’t it weird though that if I forget the news and concentrate on the market price and indicators, a minor pull back is the same suspected result.
  10. @nit2wynit on that US dollar deal, the stop loss would have been above the most recent high. I don’t tend to focus on ratio-ing my stops and limits. I might have a target that is two or three times greater than my stop but you never know if you are going to get there. Therefore, I always review my trade at the end of each day, usual time. If I don’t think it’s going to reach the target, I will close out for the profit. If it’s really taken off in the right direction, I will move the stop to small profit and see what happens the next day. If it goes against me but doesn’t hit my stop, I might wait and see but if it’s glaringly obvious it’s a wrong-in I’ll close it for a loss before it hits the stop. Some will say that my strategy is wrong but that doesn’t matter. It’s working for me with the limited funds I have.
  11. I only trade using the daily chart and usually put the deal on about 8pm. I always use stop losses and I only trade FX and Indices where it's 0.5 a point. Sometimes when I'm not overly confident, rather than risk my money, I put the deal on in the demo to keep me interested. I don't get many opportunites to trade as there are not many options at 0.5 a point but at least it keeps my risk low which suits me. Here is a trade on the demo, which I have set up the same as live but was a bit hesitant. I saw divergence in Stochastic and divergence in RSI so sold down. I don't look at the news feed anymore for announcements and this has not affected my trading. It seems that the price is moving with the expectations of the market and as such, the TA can be followed. It is when something unexpected happens that can affect the outcome of my strategy but there is not a lot you can do about that other than use your stop losses without fail.
  12. @StormChaser reviewing the daily, I see divergence on Stochastic, divergence on RSI. Could 218 be the top for now with a possible small correction down to 209 the next move I wonder.
  13. Thanks for the tip @Foxy. I will have a look but it has taken me quite a few years to get comfortable with the plan I have right now. I will see how it fits the 4hr charts as I only ever log on and review about 7pm til 8:30pm due to work and life stuff.
  14. I only trade indices and some fx pairs using just the daily charts. I just don't have the time to sit and watch a computer screen all day waiting for my strategy to line up. I just scan through about 8pm GMT and see if anything lines up. I never trade stocks only because I don't have the time to look through and pick out the ones I think are worth watching. Plus, I do find that they are definitely harder to trade. Although saying that, you flagged up shorting greggs @dmedin and that turned out good for me on the daily. I prefer to watch what the majority are trading and then make my own decisions based on TA only. The only thing I would say with my strategy is that you can go through a number of days before a trade shows itself.
  15. Looking at the daily, I would not be inclined to jump in until there is another clear move just like the one at the beginning of June. I only trade on the daily charts and so there is nothing there for me right now.
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