Recent content by jonlebon

I v been spreadbetting for 3 years and can tell you that if any company were to behave the way you describe, word would go around very quickly and many ppl would go to another broker as there are quite a few to choose from. Platform down? Yes it has happened on Finspreads and IG once but...

Even if you end up losing 66% of the time, with the right strategy and psychology you will end up making a profit. There are 3 possible outcomes: profit, loss or even. Win loss ratio is an important element to consider in any strategy especially for new traders who might n ot be aware of the...

USDJPY EURGBP USDCAN, metals, Dow,SNP all on daily charts.

An experienced trader told me once that if you v managed to payback the cost of your education from your profits after 3 years, you are on the way to success.

Took me 2 years to make yearly profit and 3 years to achieve some form of consistency even though still making mistakes and occasionally breaking rules. Last year mistakes did cut my profit by 50%. I v learned that you need to adapt your strategies and trading style to your psychology even if...

This is all relative. Some strategies will produce better result over a period of time if trade is exited after next profitable close whereas other will require staying in for weeks. If you find it difficult to watch profitable trades turn into a loss, you might consider exiting early even if...

Check frequency of clean successful bounces off 50MA on 5min and daily chart i guess. There might be ppl out there who doing OK taking signals off 50ma on 5 min although if it was that reliable , day trading would be a piece of cake.

As mentioned previously 3MA + indic could work with higher time frame given priority. Have you backtested this? Problem is how to access enough back data for any meaningful sample size.

It is generally accepted that the higher the time frame, the more reliable the signal. Many exp traders use 50Ma on 1 hour and daily charts not as a signal but as confirmation together with other signals. As a swing trader, I would test 1 hour, 4 hour and daily and maybe add...

Following on from last post, if your strategy is based on trend lines, then what is your rule when line has been tested 3 times or more? This could suggest likelyhood of test failing especially if 2 tests take place in short period of time.

According to your description, the GBPUSD on wed 11 aug can read like this: Weekly: price has broken trend line upside with retest at 15700 possible Daily: could move down to retest TL 15700 by next week 4 hours: no clear picture. Most recent TL has been broken downside with longer term TL...

I v heard a story ( not sure if really true) about someone training a monkey to choose stocks at random in Wall street journal and ending up out performing successful funds. Could well be the greatest strategy ever since the decision making involves no human emotion. I m actually considering...

They are very good at selling the picture that you will be trading on a tropical beach with laptop within 3 month. The only setups they give you are break of trend line/ breakout type but without much details on entry/exit/ profit taking. It is fait to say they do not give an accurate...

Cant really divulge details as it would break terms of agreement. 1st strategy is candle setup for hourly charts but can be adapted to daily. The other one is daily candle + indicator signal type. Both easy to understand and apply but you will need to thoroughly test it as it doesnt work on...

I now have made the 5K back in trading profit within 2 years. It got me started but could have learned it all with a mentor or books/CDs. Jon.