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26th January 2018
Quote from
Nick on 26th January 2018, 9:16 am
FTSE initial support at 7626 today
Todays post here
FTSE initial support at 7626 today
Todays post here
Quote from
anstel on 26th January 2018, 9:40 am
Morning all....Jack if you read this I have left you a comment on ydays board....Morning Nick and Mcg hope you are both doing well.....ive done my trades for tday so as it's Friday I will probably leave it now.....good luck all....if I see anything though that looks interesting I may be back but for now have a great day all.....
Morning all....Jack if you read this I have left you a comment on ydays board....Morning Nick and Mcg hope you are both doing well.....ive done my trades for tday so as it's Friday I will probably leave it now.....good luck all....if I see anything though that looks interesting I may be back but for now have a great day all.....
Quote from
Mcgcapital on 26th January 2018, 10:23 am
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Quote from
Nick on 26th January 2018, 10:46 am
Please can everyone object to these margin increases too https://replytoesma.trading/margin.html
They are trying to screw the little people.
This is what I have posted-
This is a crazy proposal to be frank. You are targeting the wrong thing with a sledge hammer to crack a nut approach. While the idea is sound in that retail traders need a bit of protection from themselves as they often blow their accounts, simply having Limited risk accounts with guaranteed stops is all that is needed until they have a proven track record - i.e. survived for a year trading. These increases are disproportionate to what is required and make it look like the purpose is to stamp out retail traders, most of whom just want to make a little bit of money to further their lives on top of what they currently earn. You should be targeting the binary betting firms and fantasists who peddle their scams on Instagram and encourage people to sign up via affiliate marketing schemes to dubious forex trading clubs. Thank you.
Please can everyone object to these margin increases too https://replytoesma.trading/margin.html
They are trying to screw the little people.
This is what I have posted-
This is a crazy proposal to be frank. You are targeting the wrong thing with a sledge hammer to crack a nut approach. While the idea is sound in that retail traders need a bit of protection from themselves as they often blow their accounts, simply having Limited risk accounts with guaranteed stops is all that is needed until they have a proven track record - i.e. survived for a year trading. These increases are disproportionate to what is required and make it look like the purpose is to stamp out retail traders, most of whom just want to make a little bit of money to further their lives on top of what they currently earn. You should be targeting the binary betting firms and fantasists who peddle their scams on Instagram and encourage people to sign up via affiliate marketing schemes to dubious forex trading clubs. Thank you.
Quote from
Jack 2 on 26th January 2018, 10:53 am
Hi, anstel. Firstly I would like to thank you for your comment yesterday. I read it then and thought a lot about what you said. It means a lot to me to hear the words of wisdom and support at times when I really started doubting myself. At the moment I lost the belief that it will work. Expecially if I continue with the pattern like this. This disbelief made me take trial real trades on £1 to see if it works. It did surprisingly work during these two days so I will withdraw some of it because I want to bring some optimism to my life. I feel much better after stopping that medicine but I still feel inner feeling of fear and bitterness so I am looking forward to weekend. I need to think again if I can face the risks and if it is good for my wellbeing. I remember how good it feels when you enter the trade by the strategy and put lines and stops and lead it to some outcome. If feels right so I will concentrate on that feeling.
In terms of watching the market: I do watch it all the time but sometimes I miss opportunities because of work or school run or some errand or doctor etc. So when I finally get the whole day to sit and do it the markets are not moving anywhere and it shakes my patience. But I agree that it is better to wait for good set ups rather than trade out of desperation.
Anyway, I will have a lot of serious thinking to do this weekend. I will take your advise on board as I agree with everything you said. I need to gain some consistency again and that will be my priority. Have a great weekend too.
Hi, anstel. Firstly I would like to thank you for your comment yesterday. I read it then and thought a lot about what you said. It means a lot to me to hear the words of wisdom and support at times when I really started doubting myself. At the moment I lost the belief that it will work. Expecially if I continue with the pattern like this. This disbelief made me take trial real trades on £1 to see if it works. It did surprisingly work during these two days so I will withdraw some of it because I want to bring some optimism to my life. I feel much better after stopping that medicine but I still feel inner feeling of fear and bitterness so I am looking forward to weekend. I need to think again if I can face the risks and if it is good for my wellbeing. I remember how good it feels when you enter the trade by the strategy and put lines and stops and lead it to some outcome. If feels right so I will concentrate on that feeling.
In terms of watching the market: I do watch it all the time but sometimes I miss opportunities because of work or school run or some errand or doctor etc. So when I finally get the whole day to sit and do it the markets are not moving anywhere and it shakes my patience. But I agree that it is better to wait for good set ups rather than trade out of desperation.
Anyway, I will have a lot of serious thinking to do this weekend. I will take your advise on board as I agree with everything you said. I need to gain some consistency again and that will be my priority. Have a great weekend too.
Quote from
Cowboy on 26th January 2018, 11:18 am
Morning all. At ten past ten checking in to the markets and thinking I'd like to watch cable at this point for a sell.
Otherwise, much work to do on stop management to preserve profits. Had significant erosion last couple of days.
Regarding the new EU regs, talk about Draconian! IG are trying to get as many people into the professional category as possible. Having said that, forcing lower leverage on retail is probably a sensible idea, but much more thought needs to be given to the idea of closing trades out too early.
Morning all. At ten past ten checking in to the markets and thinking I'd like to watch cable at this point for a sell.
Otherwise, much work to do on stop management to preserve profits. Had significant erosion last couple of days.
Regarding the new EU regs, talk about Draconian! IG are trying to get as many people into the professional category as possible. Having said that, forcing lower leverage on retail is probably a sensible idea, but much more thought needs to be given to the idea of closing trades out too early.
Quote from
anstel on 26th January 2018, 11:59 am
Quote from
Mcgcapital on 26th January 2018, 10:23 am
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Mcg what are your views on accepting professional client status as against being a retail client?
Quote from
Mcgcapital on 26th January 2018, 10:23 am
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Mcg what are your views on accepting professional client status as against being a retail client?
Quote from
Mcgcapital on 26th January 2018, 1:06 pm
Quote from
anstel on 26th January 2018, 11:59 am
Quote from
Mcgcapital on 26th January 2018, 10:23 am
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Mcg what are your views on accepting professional client status as against being a retail client?
Main difference appears to be on segregation of funds.. but IG are guaranteeing that for professional clients even though they aren’t legally obliged to. My main concern with it is if the tax man ever decides to go after spreadbettors it will be harder to say it’s a casual hobby/addiction. But I’m going to sign up to it as I don’t like the level of interference they’re proposing. Basically want you to put down 400 points of margin to trade the FTSE. The report was clearly written by someone who’d never traded before, could just tell. They should make IG etc provide compulsory training on trading and force people to limit leverage for the first 3 months or something. They don’t understand that most traders lose money at the start and we all accept that as fair game.. it’s not like you can avoid it if you want to come through the other side and be profitable
Quote from
anstel on 26th January 2018, 11:59 am
Quote from
Mcgcapital on 26th January 2018, 10:23 am
Morning all.. it’s a sell on the rallies for me.. 7650-60 first resistance. Tbh originally I had thought we’d get a move down to 7600, hold the breakout and then back up. But I think this sterling move is too significant and at $1.43 these prices aren’t justified.. you can see in the price action that it’s caught people off guard. Correction could be here. Now thinking we will go back under 7600, thinking maybe 7500 but will play it as it comes. Also, vol picking up in the US.. can see a 3-5% drop there soon too
Mcg what are your views on accepting professional client status as against being a retail client?
Main difference appears to be on segregation of funds.. but IG are guaranteeing that for professional clients even though they aren’t legally obliged to. My main concern with it is if the tax man ever decides to go after spreadbettors it will be harder to say it’s a casual hobby/addiction. But I’m going to sign up to it as I don’t like the level of interference they’re proposing. Basically want you to put down 400 points of margin to trade the FTSE. The report was clearly written by someone who’d never traded before, could just tell. They should make IG etc provide compulsory training on trading and force people to limit leverage for the first 3 months or something. They don’t understand that most traders lose money at the start and we all accept that as fair game.. it’s not like you can avoid it if you want to come through the other side and be profitable
Quote from
anstel on 26th January 2018, 1:09 pm
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Quote from
Mcgcapital on 26th January 2018, 1:12 pm
Quote from
anstel on 26th January 2018, 1:09 pm
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Varies by market.. FTSE CFDs one unit is £10 a point. Think it tells you on the IG platform under market info on each ticker
Quote from
anstel on 26th January 2018, 1:09 pm
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Varies by market.. FTSE CFDs one unit is £10 a point. Think it tells you on the IG platform under market info on each ticker
Quote from
anstel on 26th January 2018, 1:24 pm
Quote from
Mcgcapital on 26th January 2018, 1:12 pm
Quote from
anstel on 26th January 2018, 1:09 pm
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Varies by market.. FTSE CFDs one unit is £10 a point. Think it tells you on the IG platform under market info on each ticker
Thanks Mcg so one unit is £10 pp.....I presume a " unit " and a "lot" are the same...
i don't use IG so ive not seen the information before thanks..
Quote from
Mcgcapital on 26th January 2018, 1:12 pm
Quote from
anstel on 26th January 2018, 1:09 pm
Nick....in relation to position sizing....what is one standard lot??.......I'm used to £x per point...but I don't know what a standard lot is ? Thanks.? Or anybody ? McG ?
Varies by market.. FTSE CFDs one unit is £10 a point. Think it tells you on the IG platform under market info on each ticker
Thanks Mcg so one unit is £10 pp.....I presume a " unit " and a "lot" are the same...
i don't use IG so ive not seen the information before thanks..
Quote from
Cowboy on 26th January 2018, 1:38 pm
Agree that tax implications would be a very big concern.
S&p and tech100 have turned back from hourly resistance lines on my chart, so I closed out all positions there, including Dow even though it hadn't quite made the line. Intend to consider re-engaging on a break of those lines, or on a dip back. I see conflicting patterns - symmetrical triangles on S&p and tech (positive) but an upward sloping resistance line on Dow that I'd find hard to feel positive about a break of, given the already lofty altitude. I find it hard to see it breaking above, because the angle of ascent would change again, from parabolic to super-parabolic!
Agree that tax implications would be a very big concern.
S&p and tech100 have turned back from hourly resistance lines on my chart, so I closed out all positions there, including Dow even though it hadn't quite made the line. Intend to consider re-engaging on a break of those lines, or on a dip back. I see conflicting patterns - symmetrical triangles on S&p and tech (positive) but an upward sloping resistance line on Dow that I'd find hard to feel positive about a break of, given the already lofty altitude. I find it hard to see it breaking above, because the angle of ascent would change again, from parabolic to super-parabolic!
Quote from
Cowboy on 26th January 2018, 1:39 pm
Perhaps some rotation out of Dow might help ease the other indices forward, which I think they would like to do.
Perhaps some rotation out of Dow might help ease the other indices forward, which I think they would like to do.
