signal centre

[Ashsanders]

Hi

 

Just wondering if anybody uses signal centre and if so how to you pick a particular signal to trade.

 

Many thanks

[Welshman]

Hi Ash,

 

I've tried it a while back .

Are you asking about the practicalities or the "thought process"?

Practically you simply click on a signal and you can view it in the small window to the right then click "View Full signal " for the details where you'll see the basis for the signal e.g. Triangle identified

 

It's then up to you to determine whether or not you agree and decide to deal.

 

Does that help?

 

[Ashsanders]

Hi Welshman

 

Thanks for taking the time to answer my question, I was just wondering what made you decide on one signal oppose to the other? I'm new to spread betting and the hardest thing I find is actually finding a stock to trade.

 

Many thanks again

[ulises]

I'm also new, and as such I'm working (and testing my strategies).

 

Lately I've been spreadbetting just on signals alone (plus a little bit of gut feeling). I've also restricted myself to te FTSE 100 as I'm based in the UK. I've had a mixture of successes with the signal centre. I do however only take it into account when it's fresh, i.e. the icon is yellow.

 

Right now for me however is figuring out when to close a ticket. I've had long running tickets (1-2 days) in which they fluctuated from 40pts profit to closing at a 40pt loss (my stop). When they were at a profit I've always thought "this can push a bit higher", i.e. I got greedy.

[edhirst]

Some successes using it, I always pick trades with a relatively high risk:reward ratio.

[Caseynotes]

When I looked at the signal centre (some time ago) I thought they were quite slow to publish too. Though they do try to identify breakouts and the best strategy is to wait for a pullback after a breakout to Buy The Failed Dip (or sell the failed rally). 

 

Which charts? Always look for a trending chart to BTFD.

 

Trouble deciding when to get out? Set a profit target and trail your stop to it, try a set risk/reward ratio eg 1:2 or 1:3, or maybe use a previous support/resistance level, or perhaps next significant round number (50s or 100s).

[Ashsanders]

Hi ulises

 

I know what you mean about feeling greedy I get like that. Does any one have a favourite between autochartist and pia first.

 

Also Caseynotes what is BTFD? When picking the 1:2 ratio do you set you profit at there recommended targets or take sooner?

 

Thanks

 

 

[Caseynotes]

BTFD = Buy The Failed Dip in a bull trend (or sell the failed rally in a bear trend). Waiting for pullbacks then entering when price reverses back to continue with trend.

 

I don't actually use the signal centre, I just studied them for a while. 1:2 RR just means setting your profit target (reward) at twice your stop value (risk).

 

Hope this helps.

[Ashsanders]

I have used signal centre for just over a week now I'm around 100 points up.

 

I only trade with a risk to reward of 1:2 like above said.

 

I use the stops and limits like advised on the signal but usally close the position myself when around 30 points up. There has been occasions where I have seen my trade being plus 50 points then drop to a minus then up say 17 points then I have closed the position my self. On another occasion I was on plus points again and I moved my stop to my break even point and got stopped out so I lossed and gained nothing.

 

I think I might start taking notes now cus I have no idea on what I traded and what happened after I closed the position. Some of you might read this and think I got no chance and just got lucky so far.

 

Let's see what happens next.

 

Any pointers would be helpful thanks.

[Caseynotes]



Do take notes, but also start a simple trading excel spreadsheet and really see what's going on - over many trades. That's the only way to truly evaluate your strategy. Winrate against Risk/Reward. If your win rate verses RR plots above the line you are profitable, if below - change your strategy.

 



 



[Guest LAT96]

On 15/03/2016 at 23:10, Ashsanders said:

I have used signal centre for just over a week now I'm around 100 points up.

 

I only trade with a risk to reward of 1:2 like above said.

 

I use the stops and limits like advised on the signal but usally close the position myself when around 30 points up. There has been occasions where I have seen my trade being plus 50 points then drop to a minus then up say 17 points then I have closed the position my self. On another occasion I was on plus points again and I moved my stop to my break even point and got stopped out so I lossed and gained nothing.

 

I think I might start taking notes now cus I have no idea on what I traded and what happened after I closed the position. Some of you might read this and think I got no chance and just got lucky so far.

 

Let's see what happens next.

 

Any pointers would be helpful thanks.

Are you still trading and do you still use signal centre? Has it brought you any results? 

[Caseynotes]

1 hour ago, Guest LAT96 said:

Are you still trading and do you still use signal centre? Has it brought you any results? 

hmm, the post is nearly 4 years old which bodes ill for the OP but hey, good to see I was offering great advice even way back then.

[dmedin]

It is total garbage - avoid it like the plague  

[Guest Sacha]

>90% success on signals. Playing it safe by setting limits at 10-15 pts away from Entry. Act on the signal as soon as or close to when it is published. Signals change direction too, so be ready to close manually if that happens, thus avoiding hitting your stop and paying the premium.