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truckman

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Posts posted by truckman

  1. Hi Caseynotes,

    Yes I agree, Cable was a good example yesterday (9th July 2021), on a slow climb all day from around 11 am until the markets closed down for the weekend 😒.

     

    I have looked at different indicators, EMA seems to work quite well for me, the problem is they are all historic, I need to polish that crystal ball!

    So, how do you get around the problem of the market dumping you out? 

    To be honest I don't think the market is dumping us out (apart from the stop limit hunters or manipulators (if its a software glitch it was programmed in on purpose and is still manipulation) with their wild price spikes at the beginning and end of trading), the market is just following supply and demand and we have a 50 / 50 chance of being correct, a better chance if we follow the trend, unless we place the deal at the high or low end of the chart, IE. buy cable at 1.43 when you know it will go straight line or fall due to profit taking.

    Set the stop loss so it cannot be reached and adjust it if required if the trade goes against you further and just ride the storm until the market price changes direction in your favour?

    You wouldn't want to get stopped out on a 8 point or higher stop limit, only to see the price change in your direction again.

    I know it will put the risk to reward ratio out in your favour, that doesn't matter if you do not take a losing trade.

    I read a post on here where the author never closes a loosing deal, he just waits for the price to change direction and go in his favour, which short of some major world changing event it will go through this price cycle, and even after the event it will recover IE. March 2020 all the markets fell and recovered again. 

    Thank you for your input, I think we need to nurture the community post content, some of of the posts are just crazy simple to find the answers to.

  2. Although I have only recently become involved with FX and Crypto trading, it is pretty apparent that only those with insider information can predict which direction the market price will probably go, IE. up, sideways or down. 

    Anyone out there who has found a signal provider (free or paid for) that actually works, other than those who are following a market trading trend that is already established?

    If their system was any good why would they be selling or giving it away for free, surly they would just use their system for their own trades and make a lot of money.

    I wouldn't be selling a system if it worked as good as they suggest their systems  work, I would just trade with it and make the equity grow.

    Comments and thoughts welcome on the above.

  3. On 13/05/2021 at 16:45, dreamingmonkey said:

    A higher than normal spread generally indicates one of two things, high volatility in the market or low liquidity due to out-of-hours trading. Before news events, or during big shock (Brexit, US Elections), spreads can widen greatly. A low spread means there is a small difference between the bid and the ask price.

    From google

    This is not the spread or difference between the buy and sell prices, this is the minimum stop limit applied by IG which will price you out of some of the deals when the minimum is too high, IE.139 points in this case or higher.

    The minimum stop limit of say 8 points is also set up to take you out, the market can easily swing 8 points in either direction and take your deal out with a stop loss being reached.

    The higher the stop loss, the less risk of it being triggered, even if the market goes against you, just ride it out and wait for the market to change direction in your favour?

  4. On 04/05/2021 at 07:51, Guest Harith said:

    You have selected guaranteed stop.

    Yes I am aware that I have selected the guaranteed stop level as I have been for a while in preparation for when the live account is approved, the live account will have to use a guaranteed stop on each trade, which I think is a good idea as it reduces exposure to risk and the margin required as it is a controlled risk as apposed to an uncapped or un controlled risk.

    Normally the stop limit on this trade is a minimum of 8 points, in this screen shot it it is set at 30 points which has increased the required margin to $1775, when it is at 8 or 10 the margin would be around $1300.

    If I set the stop to 139 points the margin will increase to $17,000 or more, obviously blocking the trade with a $10,000 account fund.

    Thank you for your suggestion,  however it isn't because I have selected a guaranteed stop as I normally do.

    having given this some thought, I guess if there is excessive price volatility / uncertainty, as there is when the price is at 1.39000 the system sets the GSL very high for protection, the price could easily run away, that being said if it was hit at 139 it would lead to a massive loss, maybe $7000.

     

  5. Good evening everyone,

    My first post from a demo account while I am waiting for the real account to be opened, I have focused on cable as I like both currencies and the market is mostly very active.

    Does anyone know why the market should suddenly require a limit stop of139.053 points away from the current market price?

    It seems a little excessive to me.

    Your valuable knowledge and experience maybe able to explain this to a newbie?

    332749858_139.005slimitrequirement.thumb.png.6a6ce614a4b4407fff03e3d72e23d776.png

  6. On 26/04/2021 at 17:29, Nicey said:

    I used to trade the Short Sterling IG market years ago and the margin requirements were 10% of what they are today. They seem totally out of sync with volatility, the market and don't change even with a guaranteed stop.

    At £1 a pip, almost £2,000 margin is required! I know negative interest rates can and have happened but that is a bit of a stretch if I'm going short.

    Is this an error or am I missing something? 

    Thanks

    I have the same issue, I was trading on a demo account this afternoon and it was 8 points minimum guaranteed stop on GBP USD, this evening it jumped to 140 points for exactly the same deal, why is this? Its unworkable on the Demo account and it will be the same on a real account, what is going on and how has this changes?

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