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Everything posted by DavyJones

  1. This is the problem I have with a lot of these guys, they just rehash the same system and spend 3 chapters as to why its so radical from others Impulse Trend Direction is just MACD rising, EMA rising, entry on pull back Robert Miner from "High Probability Strategies Book" has a similar one but he uses rising Stochastic rather than MACD and then claims "it's the most powerful strategy in 20 years" . No matter how they spin it's just fannying about with a pile of moving averages or rate of change of price . Maybe its my maths background but when I read this I think, 'how many
  2. Here are two examples of what I do every morning, After the trade closes, the next day I take screenshots. Its quite easy once you have a Template set up in Pro real time (10min job) . The text boxes, time frames are all saved so it's just a matter of updating the text. I also make notes (a line or two) on each trade, the minute I place it and again after it closes , as I know I'll forgot quickly when I took the trade (1) The Silver day trade, My strategy was a long rising EMA / MACD. The set up was decent enough, I think but I never put in a limit and I didn't move the stop as soon as
  3. For investments (share dealing ) I do, e.g I bought easyJet months ago and will sell next week as I think its no longer worth holding and prices have stabilised. Others like Zoom are just riding on hot air and the minute it drops I will sell immediately, the fundamentals of that company are shocking and its riding purely on speculation in my view And then I hold shares like Coca Cola where you can safely put them in the box and ignore for a decade For actual day / swing trading I don't read news. I did at the start but I found the problem was that there was just so many movin
  4. cheers man, I don't know about him, What do you mean about "quant trading", can you recommend a book. Actually I was a quant for a long time, have a Maths PhD but my mistake before was ignoring markets and focusing purely on the numbers and theories. We strongly believed in efficient market hypothesis., the rational investor and random walk theory but in recent years I realized that people do not act rationally at all and there are opportunities to be had. Although I am still in my early days at this so as time goes on I hope to have broader experience
  5. I thought i summarize my experience so far day trading in case any newer folks are interested Day trading is much harder than swing trading and especially at those lower time frames. From 100+ day trades so far I am certainly no expert and I like being honest, I am on average losing but I learnt a lot. My thoughts so far are: 1. Forget 95% of youtube, it's full of turds just trying to market courses, **** out their channel. Same with forums, no matter what topic it is (fitness, languages), a lot of people lie their asses off and pretend they are experts but in fact know jack
  6. that photo gave me flashbacks,, 15+ years going into the financial district with the masses of people on the subway. Depressing as f@ck , listening to all the cringy talk like 'implementing strategies', 'low hanging fruit', 'providing excellence'. Got hacked off with it as I thought I might go postal, went to Asia years ago and never came back . Life is too short. Sun, cheap lifestyle, beaches and no politically correct BS talk or having to acknowledge the 472 different genders we have now 😄
  7. thanks dude, I spoke to Nicholas and the sales manager at PRT London yesterday To avail of the training and the pro version of PRT , one must open a NEW IG account through PRT directly. a lot of IG customers have already done this according to PRT . Now the somewhat astute of you here might think that it's pointless as I already have an IG, i.e. what's the point of opening a new one (via PRT) and then asking IG to transfer my holdings to this new account and close down the old one. IG are still the dealers and PRT just the software providers, they do not act as dealers. It just gives
  8. I see, smart move. Hertz cost me big time. trading from daily is a lot safer as one is not so leveraged. My mistake was working from 15 min charts, stock proceed to do nothing all day but the next day it moved a 1 - 3 standard deviations of the daily. Naturally that equated to a magnified loss on a smaller time frame
  9. @nit2wynit thanks, yeah I think day trading at the open is a heck of a difficult thing. Moves too fast for me or by the time a find a big mover the best ifs over Catch 22 really, how can it be big until it actually happens . Maybe premarket orders and L2 pricing I guess
  10. I made a post about this a while ago. I really struggle to see how you can make money day trading with stocks, unless as you say adjust P/L ratio, hope for larger moves or very confident of the direction. I find a 15chart is about the shortest I can use for (5mins for entry, hourly for trend ). and realistically the trade will run for hours all of which time odds are going against you for a reversal. Indices, oil, gold I have had better luck but again only If swing trading you have the whole overnight risk issue and share dealing doesn't allow short selling Side note: Advant
  11. Spread Bet or CFD is the only way as far as I know
  12. thanks, I was concerned about if I use them will they take precedent over a normal stop and just charge me the premium every time, when a bit of slippage would be acceptable.
  13. Biggest mistake I made was forgetting to close out a trade and waking up to a massive loss (30xRisk!) due to over night news. (Wirecard) However more often that not I have seen trades that I closed out just before market close that if had I left until the next day would have been real winners (10R) It seems like if I used a Guaranteed stop to prevent the above happening it would have paid off in the long run. I am not sure though. Any thoughts (PS: I assume a guaranteed stop would prevent this over night risk, right? I never used one )
  14. Plenty of user scripts on ProRealTime for this type of testing, might be useful for anyone interested
  15. I tried fundamental analysis for years and its was pointless from a trading perspective (well for me anyway). long term investment sure . It takes ages and market just doesn't do what it says on the tin. I see that many pro traders just focus on a few stocks for their whole career, maybe that's the way to go. Hard to know Although it seems that everything is equally difficult. I never try FX as I know diddlysquat about that. I have given up reading books, sick to death of those cherry picked charts and all the fluff like "trade at the start of trend" How the *** are y
  16. cheers. Issue is that there are so many moving variables its hard to analysis properly, Seems like you need a hundred trades on the same stock / indices etc I did a long trade on FTSE Cash yesterday 15min / 1 hour time frame. Rising MACD, Rising 200Ma, rising 20ma 20MA broke through 200ma 4 periods prior and continued on fro the rest of the day. Prior swing low was far too low for a sensible stop so I set it at below 20ma. It broke through the 200ma though. Whether this is a good Strategy or not for FTSE 100 I don't know
  17. Bit of useful information for ya all I did 10 experiments using the barchart.com over last few months . Ran 2 equally weighted portfolio's (swing trades <1 week) 10 long positions in one and 10 short positions in another . The stocks were taken at random from their screener, only ones with med - high vol and only ones with a 100% BUY / Sell on a 'BarChart Opinion' etc https://www.barchart.com/uk/stocks/signals/top-bottom/top?viewName=main&timeFrame=daily Time frame 1 week, Mon to Fri Risk / Reward 1: 1.5, stops usually 1 Daily Standard deviation Results: nothi
  18. I have finally got over that psychology issue. I never move stops now except the odd time in the direction of the trade, to lock in profits (BE). I never risk more that 0.5% on a trade and keep risk /reward to about 1:1.5 I have read a heck of a lot now and follow accepted advice. 20 trades , same strategy , sensible stop say at 1 - 1.5 ATR / 1 BB or a obvious support and resistance line I don't revenge trade, never get over confident ,screenshot every trade and keep a detailed log and analyse every trade with notes. *** HOWEVER The problem is quite simple, its just not
  19. Hi jlz, thanks for your reply, do you mean the online platform? That's nowhere near as good at ProRealTime (in my view). Screeners, alerts, programmable indicators, back-testing etc are all available in PRT. Charting tools much better. Its nice to have complex ways of losing cash 😂 I guess it depends on what you are using if for. Low frequency trading (>3 a week) and yeah sure there is no need for it. I get your point on just starting out with PRT, it is not user-friendly to be honest . The order-window is near impossible to find once it disappears I used the API before but I
  20. End of the day some people do make money. Market is just transferring money from Losers --> Brokers --> Winners (with folks putting extra money it ). At this stage my P / L are starting to stabilize, I get that the odds are stacked against me but you never will know if you never try right? I have achieved a lot already in other areas of my life but it's always been through a lot of hard work! I wouldn't say I am on a 100% on a downward spiral , as I have certainly chastised myself for stupid trades early on, now I am rigid on money management. But yup, you could be well righ
  21. Ok folks , let's be honest here . I am pretty sick of all the BS that goes around forums and youtube people claiming they are making millions when the reality is they are sitting at home in their pants frantically checking IG every 3 seconds to see if the hole they dug themselves into getting any smaller. Up 50 quid and all of a sudden they are trading experts or nostradamus. Me: Up 15% on my share dealing but in reality its because its a bull market and I bought months ago. Spread Betting is about £1500 loss in 2 months mainly because I am more wrong that right, rather than fooli
  22. Ok folks , lets be honest here folks. I am pretty sick of all the BS that goes around forums and youtube people claiming they are making millions when the reality is they are sitting at home in their pants frantically checking IG to see if the hole they dug themselves into getting any bigger. Up 50 quid and all of a sudden they are trading experts or nostradamus
  23. thats the same website I linked in my original post Elle, the Advanced training videos require a fee
  24. try prorealtime, you back test anything you like really and download other users scripts from the website
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