hope you had good day . having bother with futures ladder. thought i had put stop in 25points away to find i had limit order which sold straight away. in a fast moving market its easy to make a mistake . cost me 10pips. luckily i got them back .hungvir said:
Slapshot
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Went long off the late touch on the 100ema for +10.
Now, this isn't what I'd normally do but I'm glad I did because I've found something out about IG Index that I didn't know.
I placed the trade at just before 8:50 and went to close the trade at 9pm. The platform wouldn't let me trade, kept getting an error and then a message stating the market was unavailable?!?!
What happens is IG quote for the day from 9pm - 9pm, so at 9pm their system changes the dates to 29/06 and whilst (I assume) all the orders are being sorted out you can't do anything with your trade (over the web). When looking at the realtime statement the position was still open.
Luckily I set a limit distance which was hit during the time I was unable to close the order, the system has now returned to life and my trade has been closed at the correct price. I'm just thankful I put a limit on which was hit almost dead on 9pm. Certainly a nervous few mins whilst I was trying to close the order.
Looks like a Worldspreads test will be on the cards tomorrow.
Anyway, ended the day +23 so pleased with that. Bit disappointed that I missed the big move. Still, tomorrow is another day and other opportunities.
Now, this isn't what I'd normally do but I'm glad I did because I've found something out about IG Index that I didn't know.
I placed the trade at just before 8:50 and went to close the trade at 9pm. The platform wouldn't let me trade, kept getting an error and then a message stating the market was unavailable?!?!
What happens is IG quote for the day from 9pm - 9pm, so at 9pm their system changes the dates to 29/06 and whilst (I assume) all the orders are being sorted out you can't do anything with your trade (over the web). When looking at the realtime statement the position was still open.
Luckily I set a limit distance which was hit during the time I was unable to close the order, the system has now returned to life and my trade has been closed at the correct price. I'm just thankful I put a limit on which was hit almost dead on 9pm. Certainly a nervous few mins whilst I was trying to close the order.
Looks like a Worldspreads test will be on the cards tomorrow.
Anyway, ended the day +23 so pleased with that. Bit disappointed that I missed the big move. Still, tomorrow is another day and other opportunities.
Slaps,
My experience with WS has been just so so. But I don't want to trade with them when I am home because Fins has the look and feel that I am more familiar with and they offer more types of orders.
Having said that, the one point spread is just too good to resist at work where Fins' platform just drops dead. I just wish that WS took market price and offered stop/limit orders among others.
Talking about daily returns, I think we all seem to have too high an expectation. I think all the great fund managers dare not dream of a five per cent return every month. So if we can do that, that's already brilliant.
Best,
Hung
My experience with WS has been just so so. But I don't want to trade with them when I am home because Fins has the look and feel that I am more familiar with and they offer more types of orders.
Having said that, the one point spread is just too good to resist at work where Fins' platform just drops dead. I just wish that WS took market price and offered stop/limit orders among others.
Talking about daily returns, I think we all seem to have too high an expectation. I think all the great fund managers dare not dream of a five per cent return every month. So if we can do that, that's already brilliant.
Best,
Hung
frugi
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I think Chartman would have enjoyed today. 
After the slide to 10900 cash, a textbook 3 cycle triangle developed and started looking bullish after 6.30 which presaged a large breakout on good volume. Will the Fed take us up or down tomorrow though? Often there's a big move one way (in 3 distinct steps real / fake / real) then t'other on Friday.
PS Hung - fund managers aren't traders and their performance on average is abysmal. Remember they get paid for managing not on performance so they can afford to be sheep and blame the market if their funds do badly. In fact most outfits will have a high beta and a low beta fund so that they have one which beats the index in bull market and another they can pull out and say it didn't do as badly as the index in a bear market. Cunning hey?
Besides, if you limit your expectations it will be reflected in your results. Aim high (but always keep the risk small). You took some good longs on the pullbacks today by the looks of it. Well done. Keep taking 10-20 points per day and 20% a month is very achievable. But think of the difference direct access would make. Yeah I know I keep going on about it but you seem a diligent chap - why compromise your chances by messing around with bookies? They will kill your bottom line if you trade several times a day with them. But that said if you can make 5% a month with SB then you are well on your way.
After the slide to 10900 cash, a textbook 3 cycle triangle developed and started looking bullish after 6.30 which presaged a large breakout on good volume. Will the Fed take us up or down tomorrow though? Often there's a big move one way (in 3 distinct steps real / fake / real) then t'other on Friday.
PS Hung - fund managers aren't traders and their performance on average is abysmal. Remember they get paid for managing not on performance so they can afford to be sheep and blame the market if their funds do badly. In fact most outfits will have a high beta and a low beta fund so that they have one which beats the index in bull market and another they can pull out and say it didn't do as badly as the index in a bear market. Cunning hey?
Besides, if you limit your expectations it will be reflected in your results. Aim high (but always keep the risk small).
You took some good longs on the pullbacks today by the looks of it. Well done. Keep taking 10-20 points per day and 20% a month is very achievable. But think of the difference direct access would make. Yeah I know I keep going on about it but you seem a diligent chap - why compromise your chances by messing around with bookies? They will kill your bottom line if you trade several times a day with them. But that said if you can make 5% a month with SB then you are well on your way.Attachments
Slapshot
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I guess it's the knowledge that you knew a move was about to happen and missed it. To be honest I've already forgotten about it because I know there will be plenty more opportunities to come.
I too like the Fins platform and I'm happy with IG's also, I guess what happened tonight was a "feature" of their system. I'll need to speak to them to find out why it happens.
Cheers
S
I too like the Fins platform and I'm happy with IG's also, I guess what happened tonight was a "feature" of their system. I'll need to speak to them to find out why it happens.
Cheers
S
chindl
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Hi Hunghungvir said:
It is called a gravestone doji because it actually looks like a gravestone. Usually, the message that comes with it is equally bad. It signals that the market opened at the level, moved to the top of the range and then swiftly moved back. Whilst any doji or hammer for that matter is a a strong reversal signal, I believe that a gravestone is the strongest of the doji and hammer signals. Obviously, would have more relevance the longer the timeframe, but candles work on all timeframes, just look at how the two hammers held 58 so many times on the one min. There was a similar situation at the open with two inverted hammers around the 50 mark.
Hope this helps.
Slaps - do you have Nisons book on candles, this has some good scenarios on target setting, especially on flags and pennants etc. Let me know if you haven't got the book.
Chris
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