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Everything posted by u0362565

  1. Hi all, On average are Forex markets more suited to mean reversion strategies than say indices or commodities? And do you choose your market type based on the conditions at the time or do you steer clear of some on purpose? Thanks for your insight
  2. Thanks THT, I feel like i'm trying to find something new or that success is hidden away by the few but actually like you say, trading has been around for a long time and everything has been done before you would assume. Will check out that link. Cheers
  3. Yeah I think I've developed tunnel vision when it comes to candlesticks and concentrating on what has happened in the last few units of whatever time frame and I'm not seeing other patterns that aren't trends. I read that markets only trend 30% of the time so you either need to hunt the markets for them or wait it out but struggling with patience as well.
  4. Is the point that a line or candle or whatever still allows you to see the overall patterns that are there? Or am I missing a bigger picture.
  5. Hi all, Could you trade successfully if you only had a line based chart for price? E.g. on the IG platform you can change the type to line. It really would undermine candlesticks if just a line showing price was as useful.. If not why does it exist.
  6. Not really sure how to reply to any of this but good info thanks. I have tried all sorts of time frames but i don't really have the time like THT to be staring at the screen, i have a full time job. The slower pace is a relief on the daily charts. The thinking of most people who come on here or at least what i was aiming for was to see if i could do better than bank savings rates and passive investments. Certainly it is possible but not convinced for myself yet. I assume most also invest as well as you're not going to plough all your savings into a trading account.
  7. You hear a lot about day trading and how hard it is and the platforms generally seem geared up for it i.e. they charge you fees for holding positions or they only let you hold them for so long (futures/forwards). So as a show of hands I wondered who is successfully day trading or are you longer term traders willing to pay fees? I find that anytime frame less than days seems quite random and I question the usefulness of the indicators. Were they ever designed for short term trading..
  8. Thanks for that. I will bear all this in mind in future. I can see that increasing bet size is not the way to go.
  9. Anyone got any recommendations on market news websites? and if they're worth paying for. MarketWatch seems to have some good articles but you have very limited access without a subscription. Any good free ones?
  10. Also realised that I have one click trading enabled. If you disable that you have access to partial close, not tested but read on ig website.
  11. Well I'm certainly good at being indecisive which is not helped by switching time frames. I'm also trying to concentrate on daily charts. Thanks for the input
  12. Ah ok sorry I see where you're going, a small opposing position basically would offset it. So if I were long £10 per point and I short £5 I've basically reduced my position by half so long as net if off. Have I understood that right? I thought perhaps there was some other means to scale back on the platform. Thanks
  13. Yeah ok thanks. Its perhaps an issue of picking the time frame as well. I want to just determine stops and limits based on one time chart but it's tempting to look at shorter time frames to see more detail on whats happening and then you can see additional swings but I assume you ignore these.
  14. Hmm ok it is definitely net off but can't see where you can do this in the menus. Looks like you either close all or nothing.
  15. Nice simple article thanks. One thing I'm not sure on is this partial sell of units. How do you do that with IG? On the app at least can't see a way to do it.
  16. Hi all, when swing trading I'm looking for tips on when to move the stop loss if at all. Probably a how long is a piece of string type comment. For example I know it's common to move the stop to the last swing low on that time chart but what if that next swing low hasn't occured yet but you are in profit. The profit is not more than the original stop location therefore you havent made more than you're in theory risking. I guess you just wait it out? Lifting the stop could stop you out early but the reverse is also true of course. There isn't really a right answer but interested to know how others think about this. Thanks for any advice.
  17. The reaction on the tighter result scared me this morning. Looking for a longer term recovery after last week's dip but God knows now. Everyone just calm down and take a breath, don't panic..
  18. Never traded over an election nevermind one like this! Said to myself don't do anything until there is a winner but of course didn't do that. Looks choppy for a while.
  19. Ah I see I see now that the larger spread accounts for the no overnight fee.
  20. Thanks for the comment. I've steered clear of futures so far basically because I felt there was plenty to learn about trading without introducing futures as well. From what I have quickly read in terms of the "process" of placing a trade it looks very similar to other spread bets it's just there is a defined expiry. The fees weren't obvious other than it said you dont pay the overnight fee but the spreads are a little bigger. As it's a DFB there shouldn't be tax paid either, what am missing?
  21. Hi there, I notice that you can freely scale the app chart screen to be any size and the time frame and price axes scale accordingly but sometimes a fixed scaling would be useful. For example if I draw a gann fan at 45 degrees but then I adjust the chart scaling the price candles move independent of the fan position so it seems to render it useless. Or am I misinterpreting use of the drawings? Thanks for the help
  22. Hi all, I assume many traders hold positions for days/weeks/months. That being the case overnight charges are tolerated and trades are still worth placing? It's just that DFB's seem like they were really designed for day trading but I imagine a lot have a longer timeframe view. Thanks for any input.
  23. Thanks THT, love the insight into how people make trading decisions. Always makes me realise I have a lot to learn.
  24. Thanks all, good to know. I also sometimes will set a r/r ratio and a larger position size initially. Then I will keep the same r/r but pull everything in to reduce the position size if the market isn't moving as far as I perhaps thought it would. I think this is technically ok to do although I feel it screws a little with the idea that your profit should be more than your risk if you deem the risk to be that set originally unless you treat every trade independently. I did this yesterday and took a profit but then the market kept moving my way so could have left orig pos size. Ah well best not to let greed or any other emotions interfere, there will be more opportunities.