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You may be surprised. I could show you an iron butterfly with one leg in a hedge. Or the condor or albatross option of course. Just give me 6 months to understand them....
Stock market dealing
- Thread starter Justin Passing
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It didn't at first but it has now.
TradingView's charts are complex. Their screener is good though. There are lots of "filters" you can set, like Market Cap(italisation) which is how big the company is. Middle upwards is free of problems the tiddlers can have.
Finviz trader is possibly clearer.
Candles show the price movement range within the minute, hour or whatever. Just use the line, or mountain. That shows the middle price.
You can learn candle patterns which help indicate what's happening but they only help sometimes.
Trends are by far the most important to realise exist:
WIthin the red lines, you can see a trend up.
In the wiggly "wave" there are highs and lows which more or less hit the red lines.
An uptrend is a series of higher highs, and higher lows, in a more or less constant direction.
Sellers make the price go down, buyers up.
When the price drops to the support line, someone (or a bot) decides that's cheap enough so buys, which pushes the price up.
Bots etc then see a rising price and that's how you make profits, so they buy, forcing the price up, knowing there will be an upper limit, at the "resistance" line.
That's where everyone takes a profit and the price falls.
At the top you can "go short" which is how you make a profit in a price fall.
So your day trader sits there, buying near the support and selling (and/or going short) near the resistance.
If you only "go with the trend" it's safer; you only buy at the bottom (support) . Then if you miss the crest of a wave, the trend is on your side, it may jolt a bit but is likely to carry on up sooner or later..
If you "went short" near where the upper red arrow is pointing and the price jolted UP, you would lose, and it's more likely to carry on up, against you. "The trend is your friend".
Going short is something to get your head round. The price is £100 and you think it'll go to 90.
What Going Short means is you effectively Borrow shares at 100 and immediately sell them at 100. You have £100.
When the price has dropped to 90, you decide to return the shares you borrowed.
So you buy shares at £90, and hand them back, making £10 on each share.
You only have to click "sell" at 100 and when the price has dropped click "close". You don't get involved in the background borrowing stuff.
I go short as often as long in day trading, but not overnight.
The time period in question is key in all this. within that trend, there are smaller wiggles up and down. People trade on those as well. So you have down trends within an overall up trend. You need to plan where you're going to get out - that defines which trend is relevant to you.
All these patterns are "fractal" which means they're present at all time scales.
The pic I posted there is several years from side to side.
If it didn't say, you wouldn't be able to tell, it could be a few minutes.
This illustrates the power of chart analysis (aka technical analysis). You would think external events would control the prices all the time, but they are far from the most important affector in the longer term.
The video above takes the P out of the "cup and handle" pattern. Gold has been in one for years, and it's now rising on the "handle".. as predicted by someone I quoted in this thread many months ago.
Bitcoin is doing the same, period of weeks/months. It's bonkers, but it's what happens, time and time again.
Thank you for taking the time to give me that explanation JP, it’s very helpful.
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@kingandy2nd as you've got TradingView, you might find this interesting.
You can do a lot on TV free version. I have a paid one but mostly it just lets you watch more charts on one tab.
Exposition: Pinescript is a simple programming tool you can use to work with stock proces, It's free with TV.. You can get it to send you Alerts, or Trade for you, even. The example they cite is particularly apposite. The world is wondering how to monetise AI.
Some companies are getting on with it. You might think ,"Oh, Microsoft", but they're a bit of a laggard at the moment.
Packaged Software will be a biggie. Look atthe results for those companies on the right hand side of the example results, like Palentir $PLTR, . Look at their results (too extended right now, don't buy here) . You can do the same straight from the screener but you have to click more things
.
www.tradingview.com
I'm current;ly looking at programs which will trade for me. Some are free, some are very expensive - I can write my own. I know a guy who's getting 34% pa on a "flat" stock, without any interaction. A pretty good start..
Before long MANY of us will have computers and phones trading for us, and those people will have large amounts of money. Nobody available to mow the lawn, because they all have the app... Then it'll be software wars.
Anything I can describe to you in post such as #733 and#737 is p155 easy to program.. I don't know where it's all going to end.
Forex is the easiest to trade, you don't have to know a damn thing, you just let the computer do it. Tell Rachel Reeves.
"Forex is the most liquid and heavily traded market on the planet, outstripping all other markets with an average trading volume of $7.51 trillion ($7,510,000,000,000) per day. Several factors contribute to this unrivaled turnover, starting with the fact the forex market is open 24 hours a day, 5 days a week. Additionally, currency pairs are traded over the counter, which means most transactions take place on electronic networks or over the telephone between brokers, banks, retail traders, and other market participants."
You can do a lot on TV free version. I have a paid one but mostly it just lets you watch more charts on one tab.
Exposition: Pinescript is a simple programming tool you can use to work with stock proces, It's free with TV.. You can get it to send you Alerts, or Trade for you, even. The example they cite is particularly apposite. The world is wondering how to monetise AI.
Some companies are getting on with it. You might think ,"Oh, Microsoft", but they're a bit of a laggard at the moment.
Packaged Software will be a biggie. Look atthe results for those companies on the right hand side of the example results, like Palentir $PLTR, . Look at their results (too extended right now, don't buy here) . You can do the same straight from the screener but you have to click more things
.
Industry Group Strength — Indicator by Amphibiantrading — TradingView
The Industry Group Strength indicator is designed to help traders identify the best-performing stocks within specific industry groups. The movement of individual stocks is often closely tied to the overall performance of their industry. By focusing on industry groups, this indicator allows you...
www.tradingview.com
I'm current;ly looking at programs which will trade for me. Some are free, some are very expensive - I can write my own. I know a guy who's getting 34% pa on a "flat" stock, without any interaction. A pretty good start..
Before long MANY of us will have computers and phones trading for us, and those people will have large amounts of money. Nobody available to mow the lawn, because they all have the app... Then it'll be software wars.
Anything I can describe to you in post such as #733 and#737 is p155 easy to program.. I don't know where it's all going to end.
Forex is the easiest to trade, you don't have to know a damn thing, you just let the computer do it. Tell Rachel Reeves.
"Forex is the most liquid and heavily traded market on the planet, outstripping all other markets with an average trading volume of $7.51 trillion ($7,510,000,000,000) per day. Several factors contribute to this unrivaled turnover, starting with the fact the forex market is open 24 hours a day, 5 days a week. Additionally, currency pairs are traded over the counter, which means most transactions take place on electronic networks or over the telephone between brokers, banks, retail traders, and other market participants."
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The odds on Trump winning the election have shortened sharply over the last week without any improvement in the polls for him. It seems like someone has a lot of money to put on it, maybe hoping to influence the result. And if they're prepared to do that, why not put some money into DWT as well. I think I'll buy some of that until the election. Also seems to be a cup and handle pattern forming since mid July.
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You meant $DJT ? I've dipped in and out of that as it's nicely volatile.
Cup and handle is showing on Bitcoin - the Technical Analysis patterns predict it going to $320. That may be a bit high.
Market's a bit aimless, with a sort of latent optimism, at the moment.
The bond I use is flat compared to tech, financials, gold or the SPY500 now so I'm using the steeper ones, but will be happy to drop back if things look choppy.
Bond is red, running at 16% now. Yellow, hard to see, the top one, is Gold spot. I have enough gold shares for just one standard bar. It would be quite nice to hold, and stroke, and that. SPY is blue. Tech and financialgrey, purple, Real estate green. Utilities would be high but this chart only does funds and there in't one.
There is a gold x3 though.
Cup and handle is showing on Bitcoin - the Technical Analysis patterns predict it going to $320. That may be a bit high.
Market's a bit aimless, with a sort of latent optimism, at the moment.
The bond I use is flat compared to tech, financials, gold or the SPY500 now so I'm using the steeper ones, but will be happy to drop back if things look choppy.
Bond is red, running at 16% now. Yellow, hard to see, the top one, is Gold spot. I have enough gold shares for just one standard bar. It would be quite nice to hold, and stroke, and that. SPY is blue. Tech and financialgrey, purple, Real estate green. Utilities would be high but this chart only does funds and there in't one.
There is a gold x3 though.
Trumps poll rating has improved a tiny bit, but I am surprised by the betting odds.
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Used him a bit today.
General Motors early for ~5% and Joby later for ~10. Both on premarket/ news. Joby via TradingTV Benzinga..
The "small nuclears" are worth watching - SMR, NNE NEE OKLO and IONQ ..... iirc.
ISA using 3x Gold, switched to 3ION got about 9% iirc. Will try 3ION again, it went 22% altogether. Latter is Quantum C, so wll look at QBIT or whatever..
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