Calvin,
Stevet has a very valid point.We are brainwashed into thinking that stop losses are some kind of safety net but when you add it all up the SBs make heaps out of this.
In an ideal world if you always got in at the right time you wouldn't need them it's a matter of looking at the recent R and S points and trading within that channel.Easier said than done I appreciate.I only place S/Ls using that info and then plus a bit more,but this is now under review.
Seeing the amount of losses I could have saved over 9 trading days compared to the amount of monumental spikes that occur it doesn't look to good for S/Ls.Having said that you have to know when to call a stop.
Anyhow another loss yesterday of 17 points.Dow just peeked gingerly above 10200 and bouncing off10165.I wish it would give some positive signal one way or the other all too half hearted for me at the moment but I screwed up big time on Wednesday and missed a nice up move.
Glad to see you got your stars,how does it feel?
Good luck
Have a good one
Cheers
Tel
Simple comme bonjour
Stevet has a very valid point.We are brainwashed into thinking that stop losses are some kind of safety net but when you add it all up the SBs make heaps out of this.
In an ideal world if you always got in at the right time you wouldn't need them it's a matter of looking at the recent R and S points and trading within that channel.Easier said than done I appreciate.I only place S/Ls using that info and then plus a bit more,but this is now under review.
Seeing the amount of losses I could have saved over 9 trading days compared to the amount of monumental spikes that occur it doesn't look to good for S/Ls.Having said that you have to know when to call a stop.
Anyhow another loss yesterday of 17 points.Dow just peeked gingerly above 10200 and bouncing off10165.I wish it would give some positive signal one way or the other all too half hearted for me at the moment but I screwed up big time on Wednesday and missed a nice up move.
Glad to see you got your stars,how does it feel?
Good luck
Have a good one
Cheers
Tel
Simple comme bonjour
I don't suppose there is a right or wrong with stops - I have certainly known them to cost me, but on my recent foray they would have saved me heading into the sort of territory that I didn't want to find myself in. I guess they become of less use as you become more experienced, but I tend to think they have more pros than cons for an inexperienced trader like myself.
Anyhow, I know I am right at the bottom of the learning curve, and probably more likely to lose than win right now, so I'm keeping my stakes small and just trying to soak up as much as I can from this board, and other sources. I think the next thing I need to do is spend some money on some charting software so I can try to spot those support and resistance levels myself.
If anyone has any recommendations, I'd be interested to hear them - or is there online charts that would do the job (I've been haveing a mess around with the FT.com charts, which seem OK....)?
I closed my Dax position this morning for a loss of 147 points. The Dow seemed to be heading south a bit (at last) so I'm still riding that out at present, but I'll probably close it in the day or so (it's currently down 35, so only another 241 points to go before I'm back in profit !!
).
Frog - the whole South of France bit sounds rather good - just where I'd like to find myself in a year or two, if all goes to plan. I've got a few days near Nimes coming up soon...just keeping the dream alive...!
Calvin
Obviously I'm delighted with my sudden rush of stars - I plan to print it off and frame it on the wall next to my cycling proficiency certificate.
Anyhow, I know I am right at the bottom of the learning curve, and probably more likely to lose than win right now, so I'm keeping my stakes small and just trying to soak up as much as I can from this board, and other sources. I think the next thing I need to do is spend some money on some charting software so I can try to spot those support and resistance levels myself.
If anyone has any recommendations, I'd be interested to hear them - or is there online charts that would do the job (I've been haveing a mess around with the FT.com charts, which seem OK....)?
I closed my Dax position this morning for a loss of 147 points. The Dow seemed to be heading south a bit (at last) so I'm still riding that out at present, but I'll probably close it in the day or so (it's currently down 35, so only another 241 points to go before I'm back in profit !!
).Frog - the whole South of France bit sounds rather good - just where I'd like to find myself in a year or two, if all goes to plan. I've got a few days near Nimes coming up soon...just keeping the dream alive...!
Calvin
Obviously I'm delighted with my sudden rush of stars - I plan to print it off and frame it on the wall next to my cycling proficiency certificate.
At last +59 points after a 4 day run of losses(-169)still a long way to go for that Friday night ruby though.
Calvin are you still holding the Dow as I feel rather guilty if you made an excessive loss and sold because of my opinion,as the last couple of days would have reduced your losses somewhat.It just goes to show how difficult it is to call these markets sometimes.
Yeah can't complain it's great down here but wish I could get this SB thing sorted so that I could give 100% attention to the finer things in life.Got lost in Nimes once took me ages to find my way through it,very impressive city I must say,certainly saw plenty of it as crawled round in circles in heavy traffic in the blazing sun.
Sorry can't help on the charting stuff as I use nothing more complex than Bigcharts(it's also free which I like 'cos I'm tight!)I'm not really that much into TA excepting support and resistance and fundamentals leave me cold.As I've always said I keep it as simple as possible and for me have found through my own experience that this is what works best with spread betting.
It's a personal thing trading it's finding something that works for you and that your comfortable with,but if I can give you any advice it is not to allow yourself to get bogged down by detail,looking for that "easy" system,being sidetracked by too much news or these bandits that call themselves market experts.You'll get far more sense from the
likes of the more experienced on this site.
Find something you can operate,try it and if it works and you can control just go for it.
If it wasn't so dull,off topic and likely to incur the wrath of our superiors I would let you see a condensed history of my spread betting endeavours since I started some six years ago but will sign off saying that it's only within the last five months that I have had consistent good results.Now there's hope for you.
Good luck
Cheers
Tel
Simple comme bonjour
Calvin are you still holding the Dow as I feel rather guilty if you made an excessive loss and sold because of my opinion,as the last couple of days would have reduced your losses somewhat.It just goes to show how difficult it is to call these markets sometimes.
Yeah can't complain it's great down here but wish I could get this SB thing sorted so that I could give 100% attention to the finer things in life.Got lost in Nimes once took me ages to find my way through it,very impressive city I must say,certainly saw plenty of it as crawled round in circles in heavy traffic in the blazing sun.
Sorry can't help on the charting stuff as I use nothing more complex than Bigcharts(it's also free which I like 'cos I'm tight!)I'm not really that much into TA excepting support and resistance and fundamentals leave me cold.As I've always said I keep it as simple as possible and for me have found through my own experience that this is what works best with spread betting.
It's a personal thing trading it's finding something that works for you and that your comfortable with,but if I can give you any advice it is not to allow yourself to get bogged down by detail,looking for that "easy" system,being sidetracked by too much news or these bandits that call themselves market experts.You'll get far more sense from the
likes of the more experienced on this site.
Find something you can operate,try it and if it works and you can control just go for it.
If it wasn't so dull,off topic and likely to incur the wrath of our superiors I would let you see a condensed history of my spread betting endeavours since I started some six years ago but will sign off saying that it's only within the last five months that I have had consistent good results.Now there's hope for you.
Good luck
Cheers
Tel
Simple comme bonjour
Frog,
Your efforts can't have been any worse than mine.
I have explored every negative vice that has ever been discussed on these boards and then some.
Now, seaweed, thats an indicator I shall be trying tomorrow. If it's wet and limp, sell. If it's dry and stiff, buy. Knowing my luck it'll probably be stiff in the middle and wet and limp at the ends.
If it works I shall be offering the interpretive system at an ENORMOUS price.
Your efforts can't have been any worse than mine.
I have explored every negative vice that has ever been discussed on these boards and then some.
Now, seaweed, thats an indicator I shall be trying tomorrow. If it's wet and limp, sell. If it's dry and stiff, buy. Knowing my luck it'll probably be stiff in the middle and wet and limp at the ends.
If it works I shall be offering the interpretive system at an ENORMOUS price.
Thanks for that Axthree it's good to have a chuckle on the nightshift.
Seriously though I was hoping for a dry stiff day (oceanologically speaking)but it all depends on which way my pet hedgehog is pointing when the markets open later.If it's north then it's buy,buy,buy.
Then I will breed from him and make loads from selling his offspring.
How's Oxon? Use to live just over in the next county in Wendover.
Cheers
Tel
Un hérisson est pour la vie
Seriously though I was hoping for a dry stiff day (oceanologically speaking)but it all depends on which way my pet hedgehog is pointing when the markets open later.If it's north then it's buy,buy,buy.
Then I will breed from him and make loads from selling his offspring.
How's Oxon? Use to live just over in the next county in Wendover.
Cheers
Tel
Un hérisson est pour la vie
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I decided my positions were causing me too much emotional distress, so as the Dow was moving south I drew a nominal line in the Dax sand, and placed a buy instruction to close the sell and open a buy at 10120. It meant taking a 190 point loss on the chin (could have been worse), and the buy is +28 points as of 10 seconds ago.
All part of the rich tapestry of life.
Frog - I'll take a look-see at the charts you mentioned - thanks.
My mission for this weekend, as I'll be at a relatively loose end, is to swot up on this fascinating, but elusive subject, and have myself a strategy to work to by Sunday night - at least a start point to apply some sort of method to what I'm doing. That's the plan anyway
Calvin
All part of the rich tapestry of life.
Frog - I'll take a look-see at the charts you mentioned - thanks.
My mission for this weekend, as I'll be at a relatively loose end, is to swot up on this fascinating, but elusive subject, and have myself a strategy to work to by Sunday night - at least a start point to apply some sort of method to what I'm doing. That's the plan anyway
Calvin
Hi Calvin
So prognosis now is that we're all selling!!!!!!!!!!Only joking.
The market has been an absolute pig recently.Only good for +5 points at EOD,maybe if I been watching may have caught more but was sleeping as usual.
My pet Spike the hedgehog was well pointing north east and I should have known better.
Have a good weekend.
Cheers
Tel
So prognosis now is that we're all selling!!!!!!!!!!Only joking.
The market has been an absolute pig recently.Only good for +5 points at EOD,maybe if I been watching may have caught more but was sleeping as usual.
My pet Spike the hedgehog was well pointing north east and I should have known better.
Have a good weekend.
Cheers
Tel
Frog,
Would you believe it. The cows in the field behind have a taste for seaweed.
Back to the drawing board. will try the following strategy:-
Hang the seaweed on the fence as last night.
Cows eat seaweed, buy. Cows leave it alone, sell. No way to backtest though
On a different note, I'm on the border of Oxon/Berks. Nice place to be. Unfortunately local council now producing trendy newsletters at enormous expense, aimed at 7year olds. They all go the same way in the end.
Would you believe it. The cows in the field behind have a taste for seaweed.
Back to the drawing board. will try the following strategy:-
Hang the seaweed on the fence as last night.
Cows eat seaweed, buy. Cows leave it alone, sell. No way to backtest though
On a different note, I'm on the border of Oxon/Berks. Nice place to be. Unfortunately local council now producing trendy newsletters at enormous expense, aimed at 7year olds. They all go the same way in the end.
Axthree,
You could always send earlier excrement samples for analysis as a way to back test,there must be plenty of examples in their field and they are easy to date by prodding and seeing how squidgy the centres are the squidgier the fresher.I think you could be on to something here.
Spike was pointing northwest this morning.(he could be pissed and going round in circles)
Yes we have those here but they speak French.Message is the same and of course we foot the bill for their extravagances.
Tel
Simple comme bonjour
You could always send earlier excrement samples for analysis as a way to back test,there must be plenty of examples in their field and they are easy to date by prodding and seeing how squidgy the centres are the squidgier the fresher.I think you could be on to something here.
Spike was pointing northwest this morning.(he could be pissed and going round in circles)
Yes we have those here but they speak French.Message is the same and of course we foot the bill for their extravagances.
Tel
Simple comme bonjour
Frog,
After that I may change my mind about moving to Normandy.
The space was attractive as was the healthy attitude of the locals to rules. I also like the sense of national pride which causes them to decorate the Town Hall in the national colours. Not like our wimps who won't show a flag for fear of causing offense and inhabit "Civic Centres" built like fallout shelters.
Adolf was right about public buildings if nothing else. But we're not allowed to say so.
I've added grass clippings to the seaweed as a secondary indicator.
After that I may change my mind about moving to Normandy.
The space was attractive as was the healthy attitude of the locals to rules. I also like the sense of national pride which causes them to decorate the Town Hall in the national colours. Not like our wimps who won't show a flag for fear of causing offense and inhabit "Civic Centres" built like fallout shelters.
Adolf was right about public buildings if nothing else. But we're not allowed to say so.
I've added grass clippings to the seaweed as a secondary indicator.
Axthree
Must admit there is certainly no lack of "Tricolores" fluttering in the wind.Every single public building carries at least one and should there be some national celebration they breed like rabbits on viagra.As a Frenchman I think this strong national identity thing is normal and healthy,my wife who is English thinks exactly along your lines and wonders why the English can't show their colours.We lived in Wales for 6 years and the Welsh like the French have no problem hoisting the odd dragon skywards.I think it must be that English reserve.
Spike certainly delivered the goods yesterday and I'm taking orders for his progeny as of now ,
deposit of 500€, balance of 499€ on delivery.Delivered in a beautiful blackbox(with airholes)and loads of useless free trading ebooks.He drinks homemade bitter from an out of date Boots
beer kit and I'm thinking of adding a handful of peanuts in an effort to smooth out the directional fluctuations.
Grass clippings eh!Problem no lawn,no cow and lack of seaweed.
Cheers
Must admit there is certainly no lack of "Tricolores" fluttering in the wind.Every single public building carries at least one and should there be some national celebration they breed like rabbits on viagra.As a Frenchman I think this strong national identity thing is normal and healthy,my wife who is English thinks exactly along your lines and wonders why the English can't show their colours.We lived in Wales for 6 years and the Welsh like the French have no problem hoisting the odd dragon skywards.I think it must be that English reserve.
Spike certainly delivered the goods yesterday and I'm taking orders for his progeny as of now ,
deposit of 500€, balance of 499€ on delivery.Delivered in a beautiful blackbox(with airholes)and loads of useless free trading ebooks.He drinks homemade bitter from an out of date Boots
beer kit and I'm thinking of adding a handful of peanuts in an effort to smooth out the directional fluctuations.
Grass clippings eh!Problem no lawn,no cow and lack of seaweed.
Cheers
Hi Frog, Axthree (everyone else seems to have forsaken this thread!!)
Yes, a much better day yesterday - did Spike see it coming? It didn't cover my nasty hit of a few days back, but I'm certainly glad I changed direction when I did! Feeling happier now :cheesy:
I took profit on both Dow and Dax last night - the Dax has gone further up, but to regurgitate that hoary old chestnut - better to be out of a trade wishing you were in than in a trade wishing you were out. And I can sympathise with that!!
How have you guys been faring this week?
What about this weather eh? Just like the South of France!!!!
Calvin
Yes, a much better day yesterday - did Spike see it coming? It didn't cover my nasty hit of a few days back, but I'm certainly glad I changed direction when I did! Feeling happier now :cheesy:
I took profit on both Dow and Dax last night - the Dax has gone further up, but to regurgitate that hoary old chestnut - better to be out of a trade wishing you were in than in a trade wishing you were out. And I can sympathise with that!!
How have you guys been faring this week?
What about this weather eh? Just like the South of France!!!!
Calvin
Off topic and only of interest to 3 of us.......
Spike certainly did the business yesterday +137 points,+15 day before (not 5 like I said) +59 on Tuesday and -34 Monday. Was looking for a quick reversal today so sold Fins last night just before the close and am hoping for a nice decline back to 200 though checking the chart its not exactly in a hurry at moment.As I'm about will monitor the situation as my Friday night curry depends on it.
Have heard your having a bit of an Indian summer always my favourite when I was in Blighty with the autumn colours just starting to set in.Despite my Frenchness I do miss the old place sometimes(rose tinted glasses firmly in place)Too bloody hot here for my liking, aircon is still de rigeur just wish I had some.
Dow's closed on Monday very inconsiderate these holidays!
Have a good weekend
Cheers
Tel
Simple comme bonjour
Spike certainly did the business yesterday +137 points,+15 day before (not 5 like I said) +59 on Tuesday and -34 Monday. Was looking for a quick reversal today so sold Fins last night just before the close and am hoping for a nice decline back to 200 though checking the chart its not exactly in a hurry at moment.As I'm about will monitor the situation as my Friday night curry depends on it.
Have heard your having a bit of an Indian summer always my favourite when I was in Blighty with the autumn colours just starting to set in.Despite my Frenchness I do miss the old place sometimes(rose tinted glasses firmly in place)Too bloody hot here for my liking, aircon is still de rigeur just wish I had some.
Dow's closed on Monday very inconsiderate these holidays!
Have a good weekend
Cheers
Tel
Simple comme bonjour
waverider
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Frog
Even further off topic....is it legit for you to reside in France, and spreadbet via a UK company? (at least they appear to be a UK company). Where do you get your (no doubt many) cheques sent, uk or France? Is spreadbetting legal, or available in France?
By all means tell me to mind my own business if you don't want to air your personal finances in public (I probably wouldn't!), or send me an email. The reason I ask is I'd like a similar arrangement to yours once I've honed my winning technique....if I'm not in a retirement home before then.
And don't believe what you hear about an Indian summer....its still pretty wet wet wet here, and getting colder.
WR
Even further off topic....is it legit for you to reside in France, and spreadbet via a UK company? (at least they appear to be a UK company). Where do you get your (no doubt many) cheques sent, uk or France? Is spreadbetting legal, or available in France?
By all means tell me to mind my own business if you don't want to air your personal finances in public (I probably wouldn't!), or send me an email. The reason I ask is I'd like a similar arrangement to yours once I've honed my winning technique....if I'm not in a retirement home before then.
And don't believe what you hear about an Indian summer....its still pretty wet wet wet here, and getting colder.
WR
Waverider,
In all honesty I haven't got a clue.Though Fins have my French address I still have a bank account in the UK and have most of my earnings paid directly into that and I can withdraw via my bankers card over here.Ok it costs a small amount per withdrawal but it's money for old rope in all honesty so I'm not too fussed,the convenience factor makes it worth it .Fiscally I dread to think but as a French tax payer it's not something I declare to the French fisc.I am dual national and assume as this is tax free UK earnings the French can't touch it,having said that I would hate to have to prove the point.
Spreadbetting is available over here as "parié sur la fluidité des marchés" or more commonly
le spreadbetting(don't you just love French) but due to a lack of financial French I know little about it and am not sure if there are any companies over here that directly deal in it,but its food for thought.
Still can't think of anything more pleasant right now than slipping on the old cardigan,a couple of pints of Hook Norton,an open fire and an old episode of Morse and all that from a Frenchman.Instead it's all fans swirling madly and copious amounts of excessively chilled local rosé.Life is hard sometimes?
I note the Dow is still refusing to drop and I'm getting rather hungry.
Have a good weekend
Cheers
Tel
In all honesty I haven't got a clue.Though Fins have my French address I still have a bank account in the UK and have most of my earnings paid directly into that and I can withdraw via my bankers card over here.Ok it costs a small amount per withdrawal but it's money for old rope in all honesty so I'm not too fussed,the convenience factor makes it worth it .Fiscally I dread to think but as a French tax payer it's not something I declare to the French fisc.I am dual national and assume as this is tax free UK earnings the French can't touch it,having said that I would hate to have to prove the point.
Spreadbetting is available over here as "parié sur la fluidité des marchés" or more commonly
le spreadbetting(don't you just love French) but due to a lack of financial French I know little about it and am not sure if there are any companies over here that directly deal in it,but its food for thought.
Still can't think of anything more pleasant right now than slipping on the old cardigan,a couple of pints of Hook Norton,an open fire and an old episode of Morse and all that from a Frenchman.Instead it's all fans swirling madly and copious amounts of excessively chilled local rosé.Life is hard sometimes?
I note the Dow is still refusing to drop and I'm getting rather hungry.
Have a good weekend
Cheers
Tel
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