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u0362565

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u0362565 last won the day on November 6 2020

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  1. Ok it's the partial closing of force open positions that I can't seem to do. I have 1 click dealing disabled in my account but I often use the IG phone app so I think it just doesn't have the functionality. All I've been able to do is net off with opposing position to partially close. Thanks for the help though.
  2. Hi all, apologies not really a strategy question but this is where its likely to be answered. Not sure if anyone at ig answer on these forums. This might be a stupid question sorry. If I use the net off ticket type and then I partly close the position. How can I open other positions on the same market ideally net off without it closing the former position. Is the only option to switch to force open for subsequent positions? And this won't close the open position that was set as net off? Really I want the functionality of net off i.e. partial closing ability but to make each new position opened
  3. Good point.. but yes I think that does make more sense as the open/close is not so significant.
  4. Hi all, just wondering whether open/closing prices are more important for finding support/resistance levels or are the wicks as important? Depending on the market the high/lows of a period can make a considerable difference to where you might consider a stop loss location for example. Thanks for the advice
  5. Yeah I see what you're saying but it's not really a position you want to be in in the first place. Perhaps I don't understand how much people's accounts fluctuate even if they are are profitable. In an ideal world your account for the most part goes up with the odd dip back here and there but I don't know maybe the swings can be massive but that's not how i'd want to trade. The problem with working a standard job is you get used to a steady paycheck every month so your balance as it were steadily goes up. Very hard to replicate that through trading I assume.
  6. It's not being terrified of losing. I get that you need to lose sometimes to win but in the end of the day your account/expectancy needs to be positive, so I guess it's the fear of repeated losses or the one big loss that you then need to recover from, 2 steps forward 3 steps back. That's of course if you're willing to put yourself in a big loss situation i.e. too big a position size.
  7. Sorry captainsamurai, are you actually saying that you won't go bankrupt? In my case no I'd stop trading before that happened but I could sure make a nice dent in my savings first.
  8. Hi all, thanks for the comments. Yes I see that SL should be based on strategy. I haven't yet found a strategy that fits me or that really works but I pick them up and drop them too quickly, partly the problem comes from manual testing which takes patience. It's not a game but somehow it feels like I'm playing one because you want to be right in your beliefs about what the market is going to do and I know trying to be right all the time is not the correct mentality for most. No one wants to lose but I really don't so I wonder if my mind just isnt cut out for short term trading. Should have kep
  9. But those stop points obviously vary depending on your time frame. I have often thought that putting the stop where everyone else is, is half the problem in that it's obvious and those on the other side want to get you stopped out. I've often had my stop at the swing low as it's turning and it gets stopped. If you wait for the move to establish and you still want your stop at the swing low you've got a larger point distance in risk to deal with therefore your profit target also has to go up.
  10. When I say no insight, that's not strictly true. I just know from what I've read that the thing that comes up again and again is is keeping your R multiple losses low Vs your R profits. But thats just an obvious statement.
  11. One problem I have is that low risk to me just means tight stop with very low position size as this way each trade doesn't dent your account much. I have no insight into the market other than this. However, repeated attempts to get into a position with a tight stops ends up like just going in once with a large stop and defeats the purpose somewhat. And at the end of the day, over a period of time is whether you want a very slow drain on your account Vs a faster drain potentially if you go with higher position size. Obviously I want neither of these things but in the end the result I assume wou
  12. Hi Boppers, thanks for that, yeah I understand the conventional way of doing it. They say position sizing is super important and I don't disagree but it assumes you know a sensible place to put your stop in the first place in order to make this calculation. If you don't know what's sensible then that's why I was just thinking put it 1000 points away at £0.5 but I couldn't handle this getting hit as it would wipe out a lot of prior profit and also it's not that practical as for the market to move in your favour by this amount e.g. at least 1R is a big ask when it's 1000 points!
  13. Perhaps slightly going off topic but sort of makes me wonder why the obsession with Forex. Whenever you hear the word trading, Forex always comes up but to me, not that any market can be divided into best for beginner traders but surely Forex is not what you should be looking at to start with.
  14. Yeah I get you on your last point. The question was perhaps too simple. Your distinction between stock markets and commodities over longer time frames e.g. weeks+ I assume is because at that scale a trending method perhaps wouldn't work because there isn't so much upward bias but over shorter times they behave more alike. For instance i'd feel more confident shorting a Forex market more frequently than a stock market because I always feel like you're fighting against the flow (overall) when shorting stocks.
  15. Probably both 😀 Interesting split in opinions here. There's so much variation in the markets that probably all opinions are valid some of the time.
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