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I’ve been having a go recently with $10/side order just to try and get a feel. It seems that by the time I’m confident there is a certain trend in play, I place an order and the trend runs out of steam. I’m lucky to cover my commission and often have to forfeit part of it. It’s rare to find XAO following a single trend for the whole day, so often your trying to deal with 2 or 3 turns. My comm is 10 basis points, so I need 0.2% to start making a profit. Since I’m probably going to be wrong about half the time, to make it worthwhile I need to be on trend that goes for at least 0.65%.
Can anyone suggest any good stocks for this style of trading? Admittedly the ranges have been narrowing these last few days as the market has been making lower highs.
I’ve been having a go recently with $10/side order just to try and get a feel. It seems that by the time I’m confident there is a certain trend in play, I place an order and the trend runs out of steam. I’m lucky to cover my commission and often have to forfeit part of it. It’s rare to find XAO following a single trend for the whole day, so often your trying to deal with 2 or 3 turns. My comm is 10 basis points, so I need 0.2% to start making a profit. Since I’m probably going to be wrong about half the time, to make it worthwhile I need to be on trend that goes for at least 0.65%.
Can anyone suggest any good stocks for this style of trading? Admittedly the ranges have been narrowing these last few days as the market has been making lower highs.
My comm is 10 basis points, so I need 0.2% to start making a profit.
Hi TR,
It sounds like you are starting from behind in the first place with that spread. I'd look at a CFD provider who can give you a spread of 3 points on the XJO or CFD equivalent.
Limit the initial trade to half or quarter of the total trade size until the direction is confirmed then pyramid in.
Set your stop at order placement time (I set mine at 5 points away)
Be happy with lot's of small gains, instead of hoping for a retirement size single winner.
I use 10 minute candle stick charts for entry exit (look for those consecutive long wicks & tails(?) which fail to continue the trend for turning points)
Keep it simple - don't stress
Good luck!
Yes, MM XJO200 index spread with IGThankyou Mr. Costanza, all sound advice. 3 points sounds terrific, does IG offer that on a CFD? No doubt you wouldnt get 3 points from a DMA provider, so were talking MM I assume.
if anyone thinks that a 2 point spread is a handicap then they should re-consider trading, period.
Joules MM1...........Wow my head is spinning.
I think I can assume that a 2 point spread buying/selling '@ market' in you mind/trading is not an impediment to long term intraday profitability. Are you taking reasonable size moves consistently as ever calculation I do with my trading results the diff size spread really messes up my profitability
You are a funny person.
Expediency!!
Don't you mean expectancy?? Or do you not know what I am talking about?
Please do not assume that the people on this forum are idiots or all novices. You may end up on the wrong side of your own zero-sum game!!
what we are attempting to do here, is to flush out the real basis of market price movement.........this may push into areas about yourself that you do not like..........that's just a part of the ball game...........that's all..........
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