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My trading strategy blows goats... should I change?

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yea it is nasty on paper. i use an aggregate position, and i position size in a way that i add heavily at very serious support levels. at the end of that trade i sold of the position receiving an overall profit, which is in the above. i set up two accounts a long time ago when you were allowed to do it freely. it was done at a time so that i could survive shocks to my margin, and it saved me a few times. do you mean do i hedge against the two accounts, ie put in opposite entries? in that sense no, they both work together. i used to trade around my losses, ie "force entries" however ive stopped doing that. i have a range of things i follow in no order of importance:
1. chande's momentum
2. macd
3. rsi in a small way
4. a price oscilliator
5. then i look for confirmations in support and resistance. i dont trade it if i dont see all these coming together for a reversal.
6. i look for particular psychological movements in the price
7. moving averages, statistical changes, stocks above averages, etc.

thats basically it, i look at FTSE, DJIA, S&P 500, gold and oil and try to analyse them together based on a combination of the above. then something springs in my head telling me to buy or sell which usually overrides all of the above.. haha. like a puzzle that comes together. it seems so easy to explain how i trade, yet its so hard to put it on paper. amazing.

lastly, of course, i listen to CNBC's Cramer every night "I would have a million dollars by now if id have listened to CNBC, provided id have started with 100" - Jon stewart im sorry i had to put that in

on a more serious note, i spend more time looking at the US market then the Australian market. at the moment ive found that the volatility is greater in the overnight swings than the daily. there is a post somewhere where i outline my trading day. it has no structure lol.
 

based on that edit too, as above, i was up all night throughout most of october and november. i essentially traded the US indices mentally more than the Australian ones despite trading solely SPIs physically. i think at this rate the news from US are much more price-sensitive then the aussie ones.
 
oh and by the way, i realised i didnt answer the question about stops, i dont use stops due to the nature of CFD providers creating spikes
 
due to the nature of CFD providers creating spikes
Click to expand...

Yeah I agree with you about the spikes. I read on this forum that IG started as a bucket shop, nothing has changed. Market makers Know both sides of the buy and sell orders and they are out to make money.

i dont use stops
Click to expand...

I suppose if you have a huge capital base you don't need stops provided the positions are not big, but tell this to the person going long on the ASX 200 at 5950 last May or long on the AUS/USD at 98c.

Range trading is always dangerous even in quiet times and after the US voted down the bailout the first time, the market fell 400-500 points in a 6 hour period. I didn't think my 450 point stop loss would get hit, but it did.
 
Since the great men TH and MRC & Co AND sanity-debated Cartman all seem to accept the trading claims, all I can say is.

Ivan, you are one BIG SWINGING DICK. (This is not a personal attack http://www.urbandictionary.com/define.php?term=big swinging dick)



"Truth is stranger than fiction, but it is because fiction is obliged to stick to possibilities; truth isn't." Mark Twain
 
ivant out of all the "brokers" you have mentioned ONLY IB & MFGlobal will let you trade the SPI. They are the only brokers.

The rest are CFDs, Just hideously expensive!!

Mate puts some money away, drop your size, pay your tax and use this time to actually learn about the markets. You are in a unique position don't waste it.
 
ivant said:
ig markets doesnt charge at all for crude (as i think it is for all futures? would be great if someone confirmed), and for spi shorts they give you interest.
Click to expand...

Ivant,

How have you found IG Markets? I am debating between that one and IB.

Btw, there is no monthly charge for Macquarie. If you want to trade shares, it's a great platform.
 
Still havn't seen evidence of an account increasing $1500 to $550,000
 
In relation to IG vs IB:
Trembling Hand said:
I don't understand how the two can be compared
Click to expand...

For a start, the funds are held at ANZ with IG.

But, i'm interested in the spreads, availability of contracts / shares vs. CFDs (not too keen, but may use for Futures). I guess brokerage is lower with IB and perhaps interest rates higher with IB? (haven't researched yet).

If you care to elaborate, i would be happy to listen!
 

CFDs are the most expensive way to trade. CFD spreads are bigger, you have to buy/sell at market, you have to pay interest and on and on.

IB have far more protection of client funds than IG or any other MM.
 
Aussiest said:
Ivant,

How have you found IG Markets? I am debating between that one and IB.

Btw, there is no monthly charge for Macquarie. If you want to trade shares, it's a great platform.
Click to expand...

IG markets is ok, but its a market maker. i like their platform and the charts are ok, but obviously its a CFD provider thus its a little dodgy. thanks for the tip on the macquarie platform

beamstas said:
Still havn't seen evidence of an account increasing $1500 to $550,000
Click to expand...

should i just call you a moron now? what would you like me to do, cut my guts out? i really dont have time to prove what i have or havent done.

Trembling Hand said:
I don't understand how the two can be compared


Yes ya right. the cut and paste trades could of been just as likely from their demo platform?? But anyway I will move on.
Click to expand...

haha they have a time limit on the platform if im not mistaken. that was 90 days, so i dont think that id have the patience to sit there for 90 days.


they used to westpac when i started trading the spreads are horribly, there are a lot of different instruments (a little lacking on the commodities though), however a lot of different stock exchanges. commissions are good for stocks, alas i dont trade them. When you say IB though, I don't recall them having CFD's?

Trembling Hand said:
CFDs are the most expensive way to trade. CFD spreads are bigger, you have to buy/sell at market, you have to pay interest and on and on.

IB have far more protection of client funds than IG or any other MM.
Click to expand...
in terms of expense its definitely a factor. the spreads are so high. the more contracts you trade the higher the difference. TH do you trade through IB?
 
ivant said:
i guess you recommend it then i was leaning towards them. i didnt like the feel of sonray and gomarkets, and mf seemed to be a little exp on the commission side. i think i have decided on who ill go with
Click to expand...

I am just gobsmacked at people always comparing a futures broker, IB & MF, to the likes of the rubbish you have listed above.
 
Trembling Hand said:
I am just gobsmacked at people always comparing a futures broker, IB & MF, to the likes of the rubbish you have listed above.
Click to expand...

I don't think most of them understand the difference TH, even though it has been pointed out numerous times.
 
haha it doesnt hurt to look at the options, especially when there are so few in Australia i do agree though. they seem to be rather weak in comparison.
 

this isnt proof of anything actually but hey good luck to ya ..........hang on i,ll just post a result too


DEAL Closing trades 33/12/08 BSWQ78AC Australia 200 Cash (A$5 Mini Contract) - 3500 A$ +5 3791.5 A$77777777777777,287.50


yes i done did real good there
 
this is my trade i did tommmorow



DEAL Closing trades 21/04/09 B6UXM6AB Australia 200 Cash (A$5 Mini Contract) - 3395.5 A$ +33 369999.5 A$600,000000000000000 and a bit


get my point?

could always do a screenshot i spose and shut that beemsta fella up once and for all


but hey if ya really did turn 1500 into 550k in 12 mnths , i tip my hat to ya and have a great day
 
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