Anybody like to discuss this?
Getting fed up with this so Im putting everything I know out there for discussion. You can help me, I can help you or you can just help youself. Getting offered HGV jobs for £47k per year and Im sitting here messing about with markets that do so strange things.
You do not have the required permissions to view the files attached to this post.
-
ShaunWhite
- Posts: 10498
- Joined: Sat Sep 03, 2016 3:42 am
I'd take the job and do this at the weekend if you still want to. I've often fancied a truck driving job. Sitting there with the radio on and one tanned arm, getting paid for good days, bad days, holiday and sick, a bit going in your pension too. Sounds good to me. And most of all you can switch off when you get home instead of trading going round your head 247. A break might do you good and you can always come back to this.
-
Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
Judging by the screenshot maybe try toning down the information overload?xtrader16 wrote: ↑Tue Jun 29, 2021 6:04 pmGetting fed up with this so Im putting everything I know out there for discussion. You can help me, I can help you or you can just help youself. Getting offered HGV jobs for £47k per year and Im sitting here messing about with markets that do so strange things.
If I had that much info coming at me I wouldn't be able to trade effectively.
There isnt really that much information on there to be honest. The Markets just seem to do whatever they feel like at the time there is a reason why the markets move up and down when they do but its not an easy thing to predict. I'd love to know how somebody can will 10-20 races straight without losing. What other metrics can they be using?
I have 3 Charts for first 3 runner on a 27" Mac, I even think that is too small. I just posted the screen shot of the first horse as an example. If you are not using Advanced Charts how are you determining the possible direction of the ladder?
How are you using the advanced charts? Are you finding them useful?
The advanced chart could do with being updated (IMO) they need to have better graphs in. They are ok for what they are it is just information of past ladder/price movement over various timeframes. I've used MACD a lot but RSI, never, volume isnt a great indicator on the graph. Just Price & Moving averages.
i dont really see the point of the way your candle stick chart is set, without a corresponding volume chart its missing quite a lump of information.
for instance what were the volumes associated with the down candles from at approx 17:58 at 4. did each candle have roughly the same volume , or relatively small on the first candle. bit more on the second, bit more on the third and getting progressively larger, or were the volumes on all the candles below the average for the market (within a time frame ), or were the volumes overly large compared to markets average(within a time frame ). what were the volumes associated with each candle at at the bottom at approx 17:58, what were the volumes? what happened with the volume on the large up candle at approx 17:59, was a large lump causing it to spike to the previous level at 4, was there no or little volume associated with it, was the volume on other runner (or runners) causing the drift, or just the market going a bit chaotic as everyone closing out for the off?
its where the volume changes, where you see anomalies in the volume that can make charts worth the effort (prefer simple line charts personally), small volume causing a price to move, large volume price does not cause a move - both are something worth looking at.
your chart is probably telling you something, but cant see it cause a lot of the info needed to interrupt it, is missing.
for instance what were the volumes associated with the down candles from at approx 17:58 at 4. did each candle have roughly the same volume , or relatively small on the first candle. bit more on the second, bit more on the third and getting progressively larger, or were the volumes on all the candles below the average for the market (within a time frame ), or were the volumes overly large compared to markets average(within a time frame ). what were the volumes associated with each candle at at the bottom at approx 17:58, what were the volumes? what happened with the volume on the large up candle at approx 17:59, was a large lump causing it to spike to the previous level at 4, was there no or little volume associated with it, was the volume on other runner (or runners) causing the drift, or just the market going a bit chaotic as everyone closing out for the off?
its where the volume changes, where you see anomalies in the volume that can make charts worth the effort (prefer simple line charts personally), small volume causing a price to move, large volume price does not cause a move - both are something worth looking at.
your chart is probably telling you something, but cant see it cause a lot of the info needed to interrupt it, is missing.
-
wearthefoxhat
- Posts: 3561
- Joined: Sun Feb 18, 2018 9:55 am
FWIW, I would first decide; Am I a backer or a layer?
If a backer, then I would look for evidence of a steam. (red line)
If a Layer, I would look for a reverse position after a sustained steam. (red line)
The candlesticks could be used to confirm the momentum (red line). Maybe 2 sticks in a row.
If trend fizzles out, then get out of the trade and wait for next one.
IMO, that's the only chart you need.
If a backer, then I would look for evidence of a steam. (red line)
If a Layer, I would look for a reverse position after a sustained steam. (red line)
The candlesticks could be used to confirm the momentum (red line). Maybe 2 sticks in a row.
If trend fizzles out, then get out of the trade and wait for next one.
IMO, that's the only chart you need.
You do not have the required permissions to view the files attached to this post.
lagging technical indicators are mainly used to confirm a trend not necessarily to predict one . literally looking at a mug scene after the mugging has occured.
can be useful when combined with background info (fundamentals).
some of the indicators are pretty useless . why would you need candle stick charts when you have market depth on the volume bar / volatility at the most recent volume matched /traded range at the same volume bar and price action right next to it, in other words momentum without moving away from the ladder.
NB: sporting markets and financial markets are not structured the same way. players have different incentives and motives .
" sports trading is like trading financials inside a closed box full of steroids"
i prefer to have the ladder combined with markers to mark correlation refere-ncepoints / betfair charts / and a few vital compresed numerical info.
can be useful when combined with background info (fundamentals).
some of the indicators are pretty useless . why would you need candle stick charts when you have market depth on the volume bar / volatility at the most recent volume matched /traded range at the same volume bar and price action right next to it, in other words momentum without moving away from the ladder.
NB: sporting markets and financial markets are not structured the same way. players have different incentives and motives .
" sports trading is like trading financials inside a closed box full of steroids"
i prefer to have the ladder combined with markers to mark correlation refere-ncepoints / betfair charts / and a few vital compresed numerical info.
You do not have the required permissions to view the files attached to this post.
-
Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
decomez6 wrote: ↑Wed Jun 30, 2021 10:27 amsome of the indicators are pretty useless . why would you need candle stick charts when you have market depth on the volume bar / volatility at the most recent volume matched /traded range at the same volume bar and price action right next to it, in other words momentum without moving away from the ladder.
i prefer to have the ladder combined with markers to mark correlation refere-ncepoints / betfair charts / and a few vital compresed numerical info.
2.PNG
Everyone's brain processes information slightly differently so some people use candlestick charts, others use matchsticks, Betfair charts etc... I don't think there's a right or a wrong way. I don't use matchsticks but I don't use Betfair charts either other than to get an initial idea of the trend when I open the market. Using Betfair charts instead of advanced candlestick charts is like watching a movie in SD rather than HD but it all comes down to personal preference and how you process what you're seeing.
You right ,there is absolutely not one single indicator that fits all . There are thousands of indicators out there , ready made for all types of users , it also depends on trading style ( manual or auto ) . I prefer Bf charts for a zoomed out market and correlation btwn selections( macro view / big picture ) and indicators that don’t take my attention away from the ladder when I manually trade. Speed is of essence.Trader Pat wrote: ↑Wed Jun 30, 2021 11:37 am
Everyone's brain processes information slightly differently so some people use candlestick charts, others use matchsticks, Betfair charts etc... . Using Betfair charts instead of advanced candlestick charts is like watching a movie in SD rather than HD but it all comes down to personal preference and how you process what you're seeing.