Serious Traders Group

[J_Smith]

I think PD means Prior Day..

Yes, PD means Previous Day - very important if daytrading.

The MOST important chart is the 30 min bar chart - many will argue, but, think about it - trading day is 09:30 to 16:00 - this is 6.5 hrs, or 13 x 30 min bars.

If we use the 60 min we get 6.5 bars - full bar trading is better to look at.

Forget about ORH for charting - it is very important for trading, but all we need to know, is, how much of a gap we had since close of business and today's open.

Next important number - GAP amount.

T.B.C

J_S

 

[J_Smith]

Waves - I am tempted to joke about this, but I will stay serious - note that I will have to divert when the Gobshites arrive, but that is to be expected.

Waves are not required for daytrading, as, I am only interested in capturing a % of the ADR - it is simple maths, again using the brilliant Excel - ignore Excel at your own pearl, it can save you a lot of money.

Also, Elliot Wave theory, which I assume was first thought up by a chap named Elliot, is no more than that, a Theory!

If you want to trade theories, you will find no shortage of them - me, I prefer to trade the numbers as mentioned, hard fact numbers based on the 2 main components of supply and demand, i.e, price movement and volume traded.

The first step, as we have of course jumped the gun, is, deciding what way you can (not want to) trade - no good looking at a Ferrari if all you can afford is a Ford

So, any serious questions - not that I will have the answers, it's just that I have no interest in talking to myself, got over that hurdle a long time ago

J_S

 

[K-Pia]

Waves - I am tempted to joke about this, but I will stay serious - note that I will have to divert when the Gobshites arrive, but that is to be expected.

Waves are not required for daytrading, as, I am only interested in capturing a % of the ADR - it is simple maths, again using the brilliant Excel - ignore Excel at your own pearl, it can save you a lot of money.

Also, Elliot Wave theory, which I assume was first thought up by a chap named Elliot, is no more than that, a Theory!

If you want to trade theories, you will find no shortage of them - me, I prefer to trade the numbers as mentioned, hard fact numbers based on the 2 main components of supply and demand, i.e, price movement and volume traded.

The first step, as we have of course jumped the gun, is, deciding what way you can (not want to) trade - no good looking at a Ferrari if all you can afford is a Ford

So, any serious questions - not that I will have the answers, it's just that I have no interest in talking to myself, got over that hurdle a long time ago

J_S

Yes there is the Theory.
But I talk from bottom up observations.
I don't study theories. I experience the market.
Anyway. To debate here is a worthless fight.
The only conversation worth having,
Is definitely with the tape.
Wish you the best.

 

[J_Smith]

Yes there is the Theory.
But I talk from bottom up observations.
I don't study theories. I experience the market.
Anyway. To debate here is a worthless fight.
The only conversation worth having,
Is definitely with the tape.
Wish you the best.

It all depends on the individual circumstance, and the chosen method - any way will work over time, with proper risk management to stay in the game - but some ways are definitely better than others, same as in any profession that one decides to take up.

Why people think trading is any different, is beyond me!

I will say it once more - one of the biggest mistakes you can ever make in your life, is listening to idiots talking on the internet about things that do not really matter. Unfortunately, for the young and inexperienced, they know no better - a bit like all the youngsters in my country who paid in excess of €250k for a bog standard 3 bedroom semi detached house, with paper thin walls, where you can even hear the next door neighbor going for a piss - THEY KNEW NO BETTER - and listened to Gobshites talking shite about your home being an investment as well as your HOME.

Our country will be paying for it for about 30 years to come - and all because one big fat headed BIFFO was afraid to stand up to the german bastards who pulled the wool over the thick Paddy's eyes - I admire Iceland for having the balls to burn the bastards - they done right, fuck the germans and the eu, they are nothing but a bunch of money hungry bastards keeping themselves in high paying jobs on the taxes taken from the stupid hard working people.

GB was right to leave the eu - fuk them all, bunch of GOBSHITES

J_S

 

[odlareg]

I bet the GAP amount of MSFT is not what you are looking for. It is kind of Monica. You better like Hillary.

 

[J_Smith]

I bet the GAP amount of MSFT is not what you are looking for. It is kind of Monica. You better like Hillary.

GO, I am surprised at you, after all, Bill is just normal, same as any fella who can't get a bit

At least he wasn't going around wearing a big long excuse for a dress, with no underpants on, waiting to come across a little boy or girl, who, couldn't open their mouths or their parents would beat the living daylights out of them!

Is it not amazing how ignorant and stupid people can be - imagine any man or woman, beating their own child, just because a bastard who abused their child belongs to the biggest mafia in the world, and prey on the misfortunes of the oppressed and "down trodden".

Truly amazing indeed - the bastards who commit such acts should be impaled as slowly as possible, so that the feel every bit of pain they inflicted on their innocent victims - even if they are now 90, for, as the bible says "an eye for an eye", and they are all avid bible followers - biggest bunch of hypocrites in History.

If those bastards are in " heaven", then I would much rather be in "hell" anytime - for, " the devil you know, is always better than the devil you don't know".

J_S

 

[odlareg]

Now me too realised things I had forgotten about. I had good fait in my market operations and started to earn funding for my account. Meanwhile I forgot about these market operations.

But now most of it is all back, thanks to my big drawdown earlier this week. It made me really think very deep in the corners of my brain.

Btw thanks for this Degiro advice. Funny thing is I do have an account there for a long time. Just didn't like some limitations. Prices are OK. Limitations are: no RT NYSE. No CFD. No shorting US stocks. So I have to rely on long signals only. But will reactivate this account anyway and opt for daytader status.

BTW picked the first blackberries today.

 

[Vindago]

Ah, but what if they leverage that $500 up a hundred-fold? Then they've got 50K working for them!

I have been trading Forex consistently profitably for some time now and even if I have a very high rate of winning trades vs. losing ones I only use a small part of allowed leverage (max 5x of the 40x I have available). Why is that? well, using leverage is very dangerous since if you can easily (especially with forex) drawdown significntly in a matter of seconds so if you are using much leverage you may be in big trubles and get the margin call or your broker closing your position at the worst possible time...

 

[Vindago]

Trading is easy: BLASH and SHABL...

 

[J_Smith]

Now me too realised things I had forgotten about. I had good fait in my market operations and started to earn funding for my account. Meanwhile I forgot about these market operations.

But now most of it is all back, thanks to my big drawdown earlier this week. It made me really think very deep in the corners of my brain.

Btw thanks for this Degiro advice. Funny thing is I do have an account there for a long time. Just didn't like some limitations. Prices are OK. Limitations are: no RT NYSE. No CFD. No shorting US stocks. So I have to rely on long signals only. But will reactivate this account anyway and opt for daytader status.

BTW picked the first blackberries today.

Now me too realised things I had forgotten about. I had good fait in my market operations and started to earn funding for my account. Meanwhile I forgot about these market operations.

But now most of it is all back, thanks to my big drawdown earlier this week. It made me really think very deep in the corners of my brain.

Btw thanks for this Degiro advice. Funny thing is I do have an account there for a long time. Just didn't like some limitations. Prices are OK. Limitations are: no RT NYSE. No CFD. No shorting US stocks. So I have to rely on long signals only. But will reactivate this account anyway and opt for daytader status.

BTW picked the first blackberries today.

TBH, I am concetrating on trading the ES and NQ for now - it is not that hard once you have fast order entry ability, and about 4 monitors for charting and booktrader - 3 would suffice, but 4 is better, as the 2 day x 1 min bar chart is very useful, and that is specifically for 1 wide screen monitor.

After that - it is just a matter of trading the signals - not a good market for buy and hold, as drawdown can be very high if you average down, which is OK to do with stocks.

In fact, it is actually a gold mine, once you are setup correctly and in full control with no distractions or psychological issues - which are always the things that will really cost you money when trading - the trading part is actually the east bit!

J_S