RE: Technicals17 Nov 2017 08:18
Good Morning Pat
Trust this day finds you well and good.
Having gone from the days of Barclays BPIM ( let a trainee broker in Peterborough blow your life savings days)
To a phone call advisor burying me with expensive CFD's for their commissions, whilst clients cover any of their losses first . . . "Now thats something that needs investigating" and happens even today.
To one thinking that scalping the DOW, FTSE and DAX was easy. massive lesson learnt.
Whilst still holding Barcs share from the crash days.
Averaging down only the past 2 years, due to a common human error. Not wanting to sell at a loss. Computers do not have emotions, just algorithms lol.
So any data and strategy is researched, charted and set up.
Every fund manger worth his and her position, uses charts and indicators.
It has taken me years to open any chart now and see if its worth a punt.
"Cut your losses quickly and let any profit run," far to many traders let emotions take control and sell to early.
Regarding my rig now all I can do is copy how my mates trade, the successful ones that is.
Yes I check all data from Years, months, days to hours depending on trade.
Barclays chart and data totally conflict each other in the short term, they are a slow trade, made even slower when we have issues like everyone voting out on Brexit.
Just the Q3 drop down through all data out the window short term.
The big funds won't even let you known when they start trickling money in, because they know the scales will tilt and everyone will want a piece of their cake. Even if they are only after 20% gain.
There is a lot of funds out there into Barclays at much higher price than it is today.
My only personal problem is I had far too many eggs in this Barclays basket.
So I have no choice to hold when I feel they look good and short them when they don't lol.
Im nearly off the hook, though the way it looks I will most probably keep them now I have endured the pain this last decade.
Charts, friends reassurance and market sentiment is still no good when some big fund pressures this share either way.
Its a matter of sitting it out, you obviously know and feel happy to have grabbed a few more at 178, which really is what its all about.
Well done and best of luck making a nice profit.
Kind Regards W'