It's All About The Pips...

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Jev

Yes I waited till it broke the 60min 20 and made sure it didnt cross back over the pivot checked the 63CCI and went for it. I noticed crude falling off also.

Good luck today

Dave
Dave
I am still sitting out and learning this week...back in action either by the end of week or beg of next week...hope to start my B/day week next week off with a bang!!
J
 
Anyone trading the FTSE today?

If so, what is the plan at (or before) 0800?

Cheers.


Sorry J. Only just remembered your post and had to pop out for half hour earlier.

Had I replied when I first read it. I would have said. That although I trade the ftse a lot. I very rarely trade it before 8 am. For one thing the spread is too wide with IG. (After 8 it is back to normal).
Also the overnight Dow and Dax were both coming up from the sell off and were back into what I would class as a buying op back to the mean. (That rubber band thing again). The ftse was still stagnantly oversoldl. So the drop on open (Futures)most def on the follow through. But the Dow/dax were saying to those that looked, it wasn't going into freefall. And everyone thought it would. (Me included last night).

10 screens Dan? That'll give you a sun tan m8. 10 screens? Do you really need 10 screens?

Opened buys on both gold and brent very, very early. (Bloody mosquito's again) because I expected a little pop before they got going. Was Down 3 grand on oil, and 1k on gold at one point. Gold put me plus 1k, but before I could close it it came back to under b/e, oil gave up 6 k and banked that...

...:eek: Not for real though...opened a demo last night from odl, haven't used mt4 for years. Forgot how much fun a demo can be! Do not like the re-quotes and slippage I was getting when trying to close the gold off. And this is on the demo. So very wary about opening a real account with them. Have traded gold on IG before. No problems at all. Actually, thinking about it I can't recall ever being requoted with IG. Mind you on the odl demo I did use max amount!

IG don't do brent though, only us light. Think this is a bit smoother to brent. (Now I know why they call it the beast). Spreads are 8 variable. So have to weigh that up against the slippage and requote of odl. (The slippage coming from that annoying little window that just spins around and around while the trade is being processed).
 
yes, decided to leave the FTSE alone as it was going up and i've never traded it b4 anyway!
no collapse seems imminent.

10 screens - suntan, lol.
 
Was going to say I hope ths wasn't real money.

"Opened buys on both gold and brent very, very early. (Bloody mosquito's again) because I expected a little pop before they got going. Was Down 3 grand on oil, and 1k on gold at one point. Gold put me plus 1k, but before I could close it it came back to under b/e, oil gave up 6 k and banked that..."

I've just gone short crude again.
 
Jev

Are you new to financial markets?

I have been playing about trading for approx 2 years now. Blown my account twice in that time!! Confidence is a massive part of it I believe which I am still abit shakey about. I have been following Dans strategy on/off since about May this year but I think I have eventually grasped it in the past couple of weeks. Time will tell.

Good luck and happy learning and dont give up has I have nearly done a few times. Just think of Dan etc down in sunny spain when its absolutely chucking it down here Lancashire, these charts might just be worth it one day!

Just banked 64 glorious pips from GOLD short.

Nice.

Dave
 
Hello all,

Just wanted to say great thread, and enjoy reading the posts. been watching for a about week now. I love your trading style, Dan, and have learnt a lot from your posts. Look forward to hearing lots more.

Options- you can get Brent crude on IG index. I have it on now. Search for "brent" and you'll find it. (the spread's a bit of a turn off though!)

Carl
 
Thats me out of crude for -70 pips as well. Bad day, down 150. Coming back tomorrow. I should have listened to myself first thing. These aren't markets to trade today.
 
Jev

Are you new to financial markets?

I have been playing about trading for approx 2 years now. Blown my account twice in that time!! Confidence is a massive part of it I believe which I am still abit shakey about. I have been following Dans strategy on/off since about May this year but I think I have eventually grasped it in the past couple of weeks. Time will tell.

Good luck and happy learning and dont give up has I have nearly done a few times. Just think of Dan etc down in sunny spain when its absolutely chucking it down here Lancashire, these charts might just be worth it one day!

Just banked 64 glorious pips from GOLD short.

Nice.

Dave

Hi Dave
I have been trading full time for just over a year now...got lucky early on through no real strategy trading f/x, commods and grains...infact everything that was going up from last Sept thru to March...but now realise in these more volatile days one needs a game plan with entry and exit strategies...I have learnt alot from here..I like Dans strategy of planning, having daily and weekly pips targets...liking the discipline...so we will see how I get on over the coming weeks...I only need to earn enough to cover the huge mortgage, 2 kids in private school, heating of the outdoor pool and the 6 sports cars!!! (last 2 may be when the lottery win arrives...lol)
Jeev
 
Hello all,

Just wanted to say great thread, and enjoy reading the posts. been watching for a about week now. I love your trading style, Dan, and have learnt a lot from your posts. Look forward to hearing lots more.

Options- you can get Brent crude on IG index. I have it on now. Search for "brent" and you'll find it. (the spread's a bit of a turn off though!)

Carl

Hi Carl.

Welcome.

Now you have mentioned it, I do recall it being there. Thanks. As you say spread is horrible, but given the slip with odl it still might be the better choice.
 
Originally Posted by Stuart14 View Post
US Daily Light Crude on IG has a 10 pip spread. That isn't too bad.

worldspreads - Nov. contract is 6 pip spreads, Dec. contract 8 pips.
 
Crude back upto the 4HR 20 if it can break through the pivot? Keeps having a good go at it? CCI`s starting to point North

Dave
 
Sorry J. Only just remembered your post and had to pop out for half hour earlier.

Had I replied when I first read it. I would have said. That although I trade the ftse a lot. I very rarely trade it before 8 am. For one thing the spread is too wide with IG. (After 8 it is back to normal).
Also the overnight Dow and Dax were both coming up from the sell off and were back into what I would class as a buying op back to the mean. (That rubber band thing again). The ftse was still stagnantly oversoldl. So the drop on open (Futures)most def on the follow through. But the Dow/dax were saying to those that looked, it wasn't going into freefall. And everyone thought it would. (Me included last night).

10 screens Dan? That'll give you a sun tan m8. 10 screens? Do you really need 10 screens?

Opened buys on both gold and brent very, very early. (Bloody mosquito's again) because I expected a little pop before they got going. Was Down 3 grand on oil, and 1k on gold at one point. Gold put me plus 1k, but before I could close it it came back to under b/e, oil gave up 6 k and banked that...

...:eek: Not for real though...opened a demo last night from odl, haven't used mt4 for years. Forgot how much fun a demo can be! Do not like the re-quotes and slippage I was getting when trying to close the gold off. And this is on the demo. So very wary about opening a real account with them. Have traded gold on IG before. No problems at all. Actually, thinking about it I can't recall ever being requoted with IG. Mind you on the odl demo I did use max amount!

IG don't do brent though, only us light. Think this is a bit smoother to brent. (Now I know why they call it the beast). Spreads are 8 variable. So have to weigh that up against the slippage and requote of odl. (The slippage coming from that annoying little window that just spins around and around while the trade is being processed).

Hi all
Apologies for missing today...Nearly setup and will be ready to go from tom. I have to admit not all 10 screens are for me, as i am now trading with a couple of friends. Allows us to see the main markets and watch the correlations with ease...

Yes good idea not trade the FTSE before 8am. Infact prob best to avoid it for the 1st 30mins of the opening, if you dont trade it regularly.

Getting this chat system setup as we speak.

Cheers all
D
 
Took another short crude, put an order in at S2 to see if it would bounce. Took back 160 pips, so 10 up for the day. Phew!!!!
 
Rossobanks, LOL. Just seen your post. Rather scary but we were both looking for totally opposite things!!
 
Hi Dan

How come Dan007 and what have you done with Danarm?
:confused::)

Cheers.

Arhhh i logged in with an old account which i never used...Danarm is back...

I always have automatic logins and forgot i had a new account. Good spot!!

D
 
Yep. Not sure whether Luck of judgement though!

Crude seems to be infinitely more tradeable than Gold. Is that usually the case?
 
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