Recent content by mikeeg

If you have an edge, it's not gambling.

If you're going to daytrade, there are many things that you'll need to focus on, but if I can give you any advice, then it's about putting in the screen time. It's free tuition of the markets and there aint no better teacher around. Watch price, breathe price, and live it, day in and day out...

Can only echo what others have said. Takes time, patience and discipline. you should also research your market and know what your up against. Many black boxes and algos operating these days. Yes, odds are against you but if you can find an edge you'll be in the minority 10% of being consistent...

Cheers CC. Yes, it went into profit by around 10pips but was hoping for a longer run and ended up getting stopped out, hence the importance of having a tight SL when using this system!

GBP/USD Trade Curious to know if anyone using the 3 ducks guidelines took this bullish cable trade this afternoon. No idea how it's going to work out, but my SL is tighter than a duck's a** (pun intended!)

Just to chime in with some advice. You sound like you are going to be trading short term individual shares. You can undertake and have the best fundamental analysis available but in my view you need to apply very sound money/risk management with this approach otherwise you will find your...

Yes, I second that motion. I've been used Pin Bars selectively along with confluence from S&R, fibs and other price action bars (think inside and outside bars). Even with great confluence these bars can fail quite dramatically. However the trick is to approach a pin bar strategy with greater...

Quite frankly, none. You should be mindful that EMA's lag price and I wouldn't look to trade these, especially on an intraday basis too. Be careful.

Peter, Thanks for posting a reply. Perhaps my post was a little harsh in hindsight; I can understand why CMC want to make the changes, but for me personally I have 4 different spreadbet accounts and since the changes I haven't used CMC once and probably don't intend to unless the following...

There is a saying: "If it aint broke...." Sorry CMC, but I shall be taking my custom elsewhere. I've been with CMC for around 6 years and will be closing my account. I've tried to get to grips with the new system but can't wait any longer for new and improved spreads, greater variety of...

The Alchemist by Paulo Coelho. Has nothing to do with trading, but I found it very inspiring.

Those that find trading boring typically perform well. Those that find it exciting, generally dont.

Well you could do a lot worse than Malcolm Pryor's "The Financial Spreadbetting Handbook" However, spreadbetting is just on the many ways of taking on the market, so to be honest you could pick up some good books that aren't related to spreadbetting but which you will still find useful. Then...

John, Appreciate the reply. Well my demo trades have all been US ones so far and any UK ones I considered were AIM listed stocks, so naturally the spread is dire for these (haven't had any signals for FTSE100 stocks yet, although haven't found the time or patience yet to upload every last...

Stocktrader, Been reading your journal with interest, keep up the good work! Having had the opportunity to demo trade PTF over the last week or so I have a few questions and wondered if you (or anyone else who has PTF for that matter) can help. 1. The +/- column....I know this is the...