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Quote from Candlemaster on 6th December 2017, 10:26 am
As a rule when i short i want to see a fast drop. Just not happening on FTSE where I am short 7346 so just set stop at 7326 and will consider longs as GBP looks like 1.33 is calling.
IF it finds resistance at 7325 well and good I will let it run.
As a rule when i short i want to see a fast drop. Just not happening on FTSE where I am short 7346 so just set stop at 7326 and will consider longs as GBP looks like 1.33 is calling.
IF it finds resistance at 7325 well and good I will let it run.
Hey Nick, have come acroas Internal Server Error a few times when visiting the site this morning. Thought i will let you know in case there is some problem.
Hey Nick, have come acroas Internal Server Error a few times when visiting the site this morning. Thought i will let you know in case there is some problem.
Quote from Mcgcapital on 6th December 2017, 11:00 am
Still see a trip to 7200. Market is weak and rallies are for selling. No deal on Brexit is the risk for Sterling but still see there being some sort of deal even if it's not this week and that takes us up to $1.35-36. On top of that the Dow looks to have finally topped.. see no reason why SPX wouldn't test 2600 here at the minimum
Still see a trip to 7200. Market is weak and rallies are for selling. No deal on Brexit is the risk for Sterling but still see there being some sort of deal even if it's not this week and that takes us up to $1.35-36. On top of that the Dow looks to have finally topped.. see no reason why SPX wouldn't test 2600 here at the minimum
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Quote from Candlemaster on 6th December 2017, 11:43 am
Stopped out of short and now long 7320. If sterling drops FTSE finds support. If UK reach next stage of deal FTSE finds support. Time of year...FTSE finds support. Id rather be long than short. 4 hr support at 7314.
Stopped out of short and now long 7320. If sterling drops FTSE finds support. If UK reach next stage of deal FTSE finds support. Time of year...FTSE finds support. Id rather be long than short. 4 hr support at 7314.
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Quote from Mcgcapital on 6th December 2017, 11:32 am
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Quote from Candlemaster on 6th December 2017, 11:43 am
Stopped out of short and now long 7320. If sterling drops FTSE finds support. If UK reach next stage of deal FTSE finds support. Time of year...FTSE finds support. Id rather be long than short. 4 hr support at 7314.
Can I ask you something CM? Have you been self employed....
Quote from Candlemaster on 6th December 2017, 11:43 am
Stopped out of short and now long 7320. If sterling drops FTSE finds support. If UK reach next stage of deal FTSE finds support. Time of year...FTSE finds support. Id rather be long than short. 4 hr support at 7314.
Can I ask you something CM? Have you been self employed....
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Think it's largely an irrelevance as there's not much uncertainty on the path for rates. It used to move more as people would noticeably shift expectations but that doesn't happen so much recently with the forward guidance. Just try and trade with the trend.. like I said yesterday, when you enter think about where your stop should be. If it's more than 10-15 points away it's a bad entry IMHO. Last thing you need is to be holding something 50+ points offside. Longs here are bad entries to me as we're 30-40 points above where the stop would need to go. Play the range.. like I said, 7290 bottom, 7327 area to the top. Of course it can go higher or lower or whatever.. but focus on set ups and getting an edge as that's how we make money and avoiding being reliant on calls all the time
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Think it's largely an irrelevance as there's not much uncertainty on the path for rates. It used to move more as people would noticeably shift expectations but that doesn't happen so much recently with the forward guidance. Just try and trade with the trend.. like I said yesterday, when you enter think about where your stop should be. If it's more than 10-15 points away it's a bad entry IMHO. Last thing you need is to be holding something 50+ points offside. Longs here are bad entries to me as we're 30-40 points above where the stop would need to go. Play the range.. like I said, 7290 bottom, 7327 area to the top. Of course it can go higher or lower or whatever.. but focus on set ups and getting an edge as that's how we make money and avoiding being reliant on calls all the time
Quote from Candlemaster on 6th December 2017, 12:02 pm
Yes always run my own businesses.
Yes I can tell......me too.....its what's causing you too lose large parts of your winnings...when we are in business we are in a relationship with our suppliers and a relationship with our customers.....to maximise profits we push for the best price we can buy for and we try and market the goods or services at a maximum price we think our customers will pay and still stay in a relationship with us.........I have lost a small fortune due to this.....honestly £1000s.....
You could have closed that short at 290 easy loads of opportunities but what happens is we push thinking we are in a relalationship with the Market......The Market offers and if we don't take it says stuff you.......I'm going to post you a video.....ive watched it thousands of times and still struggle.....its subconscious programming its a B@stard....post you the vid next mate..
Quote from Candlemaster on 6th December 2017, 12:02 pm
Yes always run my own businesses.
Yes I can tell......me too.....its what's causing you too lose large parts of your winnings...when we are in business we are in a relationship with our suppliers and a relationship with our customers.....to maximise profits we push for the best price we can buy for and we try and market the goods or services at a maximum price we think our customers will pay and still stay in a relationship with us.........I have lost a small fortune due to this.....honestly £1000s.....
You could have closed that short at 290 easy loads of opportunities but what happens is we push thinking we are in a relalationship with the Market......The Market offers and if we don't take it says stuff you.......I'm going to post you a video.....ive watched it thousands of times and still struggle.....its subconscious programming its a B@stard....post you the vid next mate..
Quote from Candlemaster on 6th December 2017, 12:02 pm
Yes always run my own businesses.
Yes I can tell......me too.....its what's causing you too lose large parts of your winnings...when we are in business we are in a relationship with our suppliers and a relationship with our customers.....to maximise profits we push for the best price we can buy for and we try and market the goods or services at a maximum price we think our customers will pay and still stay in a relationship with us.........I have lost a small fortune due to this.....honestly £1000s.....
You could have closed that short at 290 easy loads of opportunities but what happens is we push thinking we are in a relalationship with the Market......The Market offers and if we don't take it says stuff you.......I'm going to post you a video.....ive watched it thousands of times and still struggle.....its subconscious programming its a B@stard....post you the vid next mate..
Quote from Candlemaster on 6th December 2017, 12:02 pm
Yes always run my own businesses.
Yes I can tell......me too.....its what's causing you too lose large parts of your winnings...when we are in business we are in a relationship with our suppliers and a relationship with our customers.....to maximise profits we push for the best price we can buy for and we try and market the goods or services at a maximum price we think our customers will pay and still stay in a relationship with us.........I have lost a small fortune due to this.....honestly £1000s.....
You could have closed that short at 290 easy loads of opportunities but what happens is we push thinking we are in a relalationship with the Market......The Market offers and if we don't take it says stuff you.......I'm going to post you a video.....ive watched it thousands of times and still struggle.....its subconscious programming its a B@stard....post you the vid next mate..
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Think it's largely an irrelevance as there's not much uncertainty on the path for rates. It used to move more as people would noticeably shift expectations but that doesn't happen so much recently with the forward guidance. Just try and trade with the trend.. like I said yesterday, when you enter think about where your stop should be. If it's more than 10-15 points away it's a bad entry IMHO. Last thing you need is to be holding something 50+ points offside. Longs here are bad entries to me as we're 30-40 points above where the stop would need to go. Play the range.. like I said, 7290 bottom, 7327 area to the top. Of course it can go higher or lower or whatever.. but focus on set ups and getting an edge as that's how we make money and avoiding being reliant on calls all the time
I have learnt recently to wait and wait for optimal set ups....unfortunately I still place impulse trades occasionally though.....I know my disipline is weak....
Quote from Mcgcapital on 6th December 2017, 12:03 pm
Placed a long at 24 on that very subtle little surge on the 5 min candle.....don't know much but think it was possible a big position added by an institution... which I guess means the smart money...
Either that or I'm a sucker which is quite possible.....no comments Thx CM :0)
Don't let them push you about mate.. there's no such thing as smart money. Those clowns on Wall Street just project out a 10% return every year regardless of what's happening. Stick to set ups and manage risk. Today we had the bottom end of the 7300 pivot at 7290 and last week's low at 7280. No surprises it bounces there from oversold. Then to the upside we gapped down with yesterday's close at 7327. No point longing into that or getting pushed out of shorts just because it's retesting it. The overall market is weak, everything is going down.. Sterling is the wildcard supporting FTSE on a relative basis, but even that's at risk of a rally on an EU deal
Bloody hell thanks Mcg.......you don't think a push up into NFP then? I'm finding this pretty hard just now...cheers for your help appreciate it....
Think it's largely an irrelevance as there's not much uncertainty on the path for rates. It used to move more as people would noticeably shift expectations but that doesn't happen so much recently with the forward guidance. Just try and trade with the trend.. like I said yesterday, when you enter think about where your stop should be. If it's more than 10-15 points away it's a bad entry IMHO. Last thing you need is to be holding something 50+ points offside. Longs here are bad entries to me as we're 30-40 points above where the stop would need to go. Play the range.. like I said, 7290 bottom, 7327 area to the top. Of course it can go higher or lower or whatever.. but focus on set ups and getting an edge as that's how we make money and avoiding being reliant on calls all the time
I have learnt recently to wait and wait for optimal set ups....unfortunately I still place impulse trades occasionally though.....I know my disipline is weak....
Quote from Candlemaster on 6th December 2017, 12:34 pm
I will watch the video but thats my System I want big takedowns so I try to let positions run. I didnt take 7290 because it wasnt 1% which is my minimum requirement, but if market had hit 7250 I would have moved stop to 7300 area. Cant win em all. Its easier to be patient with longs than shorts. With the latter you have to move to breakeven quicker.
I will watch the video but thats my System I want big takedowns so I try to let positions run. I didnt take 7290 because it wasnt 1% which is my minimum requirement, but if market had hit 7250 I would have moved stop to 7300 area. Cant win em all. Its easier to be patient with longs than shorts. With the latter you have to move to breakeven quicker.
Quote from Candlemaster on 6th December 2017, 12:34 pm
I will watch the video but thats my System I want big takedowns so I try to let positions run. I didnt take 7290 because it wasnt 1% which is my minimum requirement, but if market had hit 7250 I would have moved stop to 7300 area. Cant win em all. Its easier to be patient with longs than shorts. With the latter you have to move to breakeven quicker.
I just thought it might help ....I know you need the big moves as your trading the ETFs.....but it's worth watching....
Quote from Candlemaster on 6th December 2017, 12:34 pm
I will watch the video but thats my System I want big takedowns so I try to let positions run. I didnt take 7290 because it wasnt 1% which is my minimum requirement, but if market had hit 7250 I would have moved stop to 7300 area. Cant win em all. Its easier to be patient with longs than shorts. With the latter you have to move to breakeven quicker.
I just thought it might help ....I know you need the big moves as your trading the ETFs.....but it's worth watching....
Quote from Mcgcapital on 6th December 2017, 1:29 pm
Quote from Candlemaster on 6th December 2017, 12:44 pm
I would rather have 1 win of $1000 than 10 wins of $100.
Think about that. Consider the losses / breakevens that would accompany 10 wins. Now do the same for a aingle large win.
Which do you think isceasier and offers better odds?
Which approach offers scope for even more unreasonable gains?
The average true range is too tight for targeting big wins. It's true it's easier to trade longs like that than shorts. This year I managed to run big longs in May and October, tried it with shorts in June/July and got a good profit out of it in the end but it would have been way more effective to keep cashing and re-entering. If you hold stuff it's way harder to keep the losses small which is the most important part of any system.
Quote from Candlemaster on 6th December 2017, 12:44 pm
I would rather have 1 win of $1000 than 10 wins of $100.
Think about that. Consider the losses / breakevens that would accompany 10 wins. Now do the same for a aingle large win.
Which do you think isceasier and offers better odds?
Which approach offers scope for even more unreasonable gains?
The average true range is too tight for targeting big wins. It's true it's easier to trade longs like that than shorts. This year I managed to run big longs in May and October, tried it with shorts in June/July and got a good profit out of it in the end but it would have been way more effective to keep cashing and re-entering. If you hold stuff it's way harder to keep the losses small which is the most important part of any system.
Quote from Candlemaster on 6th December 2017, 2:20 pm
Horses for courses. If you are identifying tops and bottoms or playing SAR well then the ATR is not a huge factor.
I much prefer the daily chart in this regard to lower timeframes, I usually find if I apot decent SAR on lower timeframes they ard more likely to collapse.
I make an exception for the 4 hour candles if I am keen to get on board.
Horses for courses. If you are identifying tops and bottoms or playing SAR well then the ATR is not a huge factor.
I much prefer the daily chart in this regard to lower timeframes, I usually find if I apot decent SAR on lower timeframes they ard more likely to collapse.
I make an exception for the 4 hour candles if I am keen to get on board.
Quote from Mcgcapital on 6th December 2017, 4:08 pm
I'm out now.. took a third off my 43 short at 30 and stopped on the rest at 53. 7380 is the next logical area. But it's a strange divergence as the US still looks weak and Sterling hasn't really dropped that much. Got it wrong today but still don't see a bullish breakout yet
I'm out now.. took a third off my 43 short at 30 and stopped on the rest at 53. 7380 is the next logical area. But it's a strange divergence as the US still looks weak and Sterling hasn't really dropped that much. Got it wrong today but still don't see a bullish breakout yet
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