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Trevbeats

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Posts posted by Trevbeats


  1. On 01/10/2018 at 10:38, Mercury said:

    Thanks for the comments @elle  I am not sure if your chart is supporting my assessment or suggesting a bounce off your hashed line is showing a Bearish move.  It could certainly be the case that GBP (and EUR) has put in a more shallow retrace and is now on it's way into that LT motive Bear move I was talking about.  A break of the recent lows would confirm this for me.  At present I still favour a higher retrace for both EUR and GBP but let' see...  Right now we are seeing some buying pressure on both GBP and EUR but I am not sure yet if the Wave B is done.  Got to be patient as these moves develop and wait for the trade triggers...

    Very interesting and long term chart analysts Mercury. Why is it that we think that charts follow these types of patterns? Would It be right that traders have the maps "CA" and we all tend to follow? Please inlighten me your thoughts? Good work on the history plotting.   


  2. 15 hours ago, nit2wynit said:

    @Trevbeats  I always use Stops and never more than 10% of my account size.  Today I'll be using the Demo again and 'Trade Ideas' as a Scanner.  Though I've left it a little late to input my Scanner Data.

    Let's see what today brings with a £500 Margin/Account size.
     

    £500 Margin/Acccount size ? Please explain 


  3. That is good to here Dmedin. If it is done right yes you can do well. My only gripe atm is I have switch from ozzi acount  to a Uk spread account. However finding realy tricky to trade on a 10k account as margins are just stupid!   where as margins are so much better to trade with overseas and done realy well ITM. Maybe i should of stuck with the uk acount when the esma rule kicked in last year. That been said I can still trade with the ozzi account but the word is esma ozzie rule is coming tho them as well. Help ?

    • Like 1

  4. 1 hour ago, dmedin said:

    I am trading, have been for about a year.   I've got a UK account yes.  When you set up an account with a UK broker now you have to provide a National Insurance number, I don't remember having to do that last year.

    I see I guess that’s because of tax reasons....? I heard if it’s a spread betting no tax will come back and bite you but if it’s cfd account then your liable.. how are you doing hope your in the money.  I going live soon, it’s just the high margins in a uk account which puts you off.....esma rule...graaaa.

    TRev

    • Like 1

  5. 3 hours ago, dmedin said:

     

    Suppose you'd bought shares in an S&P 500-tracking ETF and left it for three years.  The value of your shares would have increased and you'd have extra money in the form of quarterly dividends.  And that's without doing any work at all (except perhaps reinvesting your dividends twice a year).

    The question I often ask myself is, will three years of trading perform as well or better?  Because if it can't, then what's the point in doing it?

     

    3 hours ago, dmedin said:

     

    Suppose you'd bought shares in an S&P 500-tracking ETF and left it for three years.  The value of your shares would have increased and you'd have extra money in the form of quarterly dividends.  And that's without doing any work at all (except perhaps reinvesting your dividends twice a year).

    The question I often ask myself is, will three years of trading perform as well or better?  Because if it can't, then what's the point in doing it?

    Yes does make you think,  but I’m sure the %out ways doing it for yourself....I wonder if one could ask the question out of all the IG clients how many of them do well if done correctly at trading. Are you trading now and with which account uk all overseas if you don’t mind me asking.

    regards

    Trev..


  6. On 14/10/2019 at 20:49, TrendFollower said:

    Your trading plan should include something different than what everyone else is doing. That uniqueness which gives you an edge over other traders.

    I would like to take this opportunity to quote Sir John Templeton (below):

    If you want to have a better performance than the crowd, you must do things differently from the crowd.

    The trading plan does not need to be complex. In fact the simpler the better. Articulate things in 'Simple', 'Plain' and 'Clear' English. 

    As Warren Buffett once said:

    The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.

     

    Very good, But now my real problem is esma rule will be going to the ozzi soon. I have been studying this for a great deal of time and nearly ready to pull the trigger.. But the retail trader is getting squashed again!!! How can you trade with thses stupid margins. Can I ask  do you trade , and if so what [account country]  do you use?

     

    Trev  


  7. Thanks buddy for your feed back.

    It seems that I am running away from one account to another? If the ozzi esma rule comes into play what will be left to switch too SWISS? I will need a large cap if i go back to uk account and spreads would be more likly as no tax is involed.

    Just my luck I am so getting ready to fire the trigger "live" but it is  going against me again!

    3 years of study I hope it is not wasted...Can I ask do you trade? and if so what set up account do you hold?

    I know how to trade got my plan ready; however retail traders are getting the push out of this market...seems all one sided from the big banks.

     

    Trev.

     

     

     


  8. On 12/04/2019 at 18:46, TrendFollower said:

    @nit2wynit,

    I agree with @Caseynotes in that start with the smallest bet size and if the trade moves in your favour and you are trading with a trend getting stronger then you can always add to your position on any dips. For now I would suggest stating at the lowest amount possible and building a position based on strength. 

    In terms of picking an asset then it really depends on which market you have a better passion for, a better understanding in, a greater interest in, etc. There will be volatility in all different assets whether they are indices, FX, commodities, etc. I would avoid Cryptocurrencies unless you can stomach 'gut wrenching' volatility! Not all traders can.

    The 'elephant in the room' is stop losses and your risk tolerance and risk management strategy. If you are a day trader or short term trader then I can understand the need for tight stop losses to ensure you make lots of small profits. I get that. If you are a trend follower like me who holds positions for days, weeks and months to ride the longer term trend, a tight stop loss is no good. It needs to be more wider. Traders have to determine their time frame and set their stop losses accordingly. A lot of traders get into a pickle with this. They are trading the right asset at the right time but volatility is stopping them out. Having a wider stop loss is not all bad if you are trading on the right side of the trend and the trend is getting stronger in your favour. Once in profit then a trailing stop can be set ensuring you always exit with a profit. It is when the trade moves against you due to inefficient entry points that makes stop losses crucial. A trader can only get away with making lots of small losses if they make a few big profits which covers the losses as well. Otherwise all a trader has to show for is lots of small losses. This leads to a slow death!

    This is where a trading plan, trading strategy and trading system is crucial. There are still many traders that have neither of these things and these are the traders that seem to struggle when it comes to trading. 

    Can I say I normally as day trader  90% dont use stops but only if i'm in front of the charts! Yes this can be very naughty however most of my trades gets to my limits/profit as I am not greedy.  If I do place a stop loss in anyone of my trades it seesm to hit it.... I have come to realise and agree with casynotes that if you use stops must be quite wide and take lower position. I do have a strategy plan the main ones that helps me in profit is strong trends and scalping but aways study the  charts 1st never ever at a whim as that is taken a gamble. Hope this helpes:Ok Started with 20k demo now I am at 113k in 7 months but as my capital got bigger so did my positions hence the account got bigger.

    Now I feel I am ready to go live!!!

    Couple or more questions: If anyone can help and advise? 

    So now that I have a plan to full on I am thinking of how much to start with in my capital?

    2k or 20k Ok....

    if I start with 2k do you think this is rerealistic to build on this?

    If I start with 20k does this make better sence as you need leverage?

    Next: I have opted for the Aussie account due to low margins however it's only on CFDs only therefore I would be subject to tax right? I would much prefer a Uk spread betteing account but as we all know about esma rule the margins are just redicloius. I will appreciate any feed back.

    Regards Trev.   

    • Like 1
    • Great! 1

  9. Ok I just think I will be stopped out with a low capital... Ok So if i did put in a £1000 where do you find your low value stocks to trade with at 1-2 or even higher? Just to let you know I am on the Aussie account as the leverge is good. Esma rule stinks!! thats why I moved my account..but i hear its coming to the aussie soon so i will switch to the slizze


  10. Yes no Problem nit2wynit 

    This how I trade. Price action and Support and resistance, then look for trends. Dow S&P are great to trade! Here is a good tip. Bring up Apple and have your charts up  in the dow and the s&p ok. Correlation is key, do this arounf 7.30pm as you know use markets close at 9pm, but becareful as volitation can be high, watch the volume indicator helps.

    : try this as well? 

    Go to  gbp/Usd and pull up the time frame 4 hours then 1 hour. then go to the 5 min frame and trade the trend as you should  know the direction if there is any...Its very important to know if there is a trend happening. This is when you trade for sec or even min. ok take profit straight away!!!. The other night i did this on the S&P and made over £1000 in 30 min. These are some of the ways I tarde sir. Hope this helps. TreV


  11. On 26/09/2019 at 11:29, AbDXB1345 said:

    @Caseynotes also just taking the time to learn, most people just want to jump right in.

    Trading on demo for an extended period allows exposure to the markets with no risk. the obvious downfall of this is with no risk there is the chance of paralysis by analysis.

    I stuck to demo for almost 2 years and felt it was time to put experience to practice on a small size account, with the aim of adding to the size with monthly contributions that wont bankrupt me.

    Good words Cassynotes.

    I have been on a demo now for about 2 years. Started with 20k and now just moved into 100k..So waiting for capital to come my way then im, going for real cash...Just hope it does not change my thinking in the way i have been trading.FOCUS....

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