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I see you seem to be making up rules as you go along (not that you are not allowed to) The last 2 buys are not on the same rules as the first 2 or3 - that is making a higher high than in the last 12 months.
I know you did say and now for something completely different!
Just saying that's all :-)
Last edited by Jay; 21-03-2015 at 03:48 PM.
Reason: Kneno??
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I find for weekly long term trend type trades and ATR OF 3.5 works best although 3 or 4 ok too
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Member
Originally Posted by Paper Tiger
Do you regard 12.5% as a lot?
It is not illiquid - average daily turnover is about 4,500,000 shares (or AU$40M).
How would you describe it?
It was 'bought' because it is going up and will be 'sold' when it stops (however that is defined).
This thread is currently about trading for a profit and limiting the losses on route.
The fundamentals of any of the companies have not come in to it.
I would describe am illiquid market as one that doesn't trade in the same time zone, or close to it, as America. Unless you pick an absolute dog of a stock, a stock will go up if the US market went up over night. If you are trading, ignoring fundamentals "the fundamentals of any of the companies have not come in to it" then what happens overseas is paramount. Buy a stock with P/E over 30X in Australia you are playing Russian roulette. Your whole strategy is hoping that the US market went up and if it doesn't you aint going to be able to cash out because the market is closed. It's almost impossible to lose money in the the current market but that's not going to go for ever.
Last edited by nzspeak; 22-03-2015 at 02:06 AM.
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Originally Posted by nzspeak
I would describe am illiquid market as one that doesn't trade in the same time zone, or close to it, as America. Unless you pick an absolute dog of a stock, a stock will go up if the US market went up over night. If you are trading, ignoring fundamentals "the fundamentals of any of the companies have not come in to it" then what happens overseas is paramount. Buy a stock with P/E over 30X in Australia you are playing Russian roulette. Your whole strategy is hoping that the US market went up and if it doesn't you aint going to be able to cash out because the market is closed. It's almost impossible to lose money in the the current market but that's not going to go for ever.
A little over dramatic there.With that attitude you would never cross the road in the morning. If the US markets start to tumble there would normally plenty of time to exit the aussie stocks. The likes of Resmed are not going to roll over just because the US has a bad day. In 2008 there was plenty of time for an orderly exit for those who wanted one. 1987 was maybe a different story, however even that wouldnt have been a real disaster , given the massive runnups beforehand, unless of course you bought all the stocks just before the top.
A simple index filter addition to a trading system would prevent operating in most of the times when conditions were not appropriate for trend trading
ie no trading if xao below 13 week ma
Here is an equity chart to based on buying highest highs (52 weeks) with a filter (see straight line in 2008 when no trading) (Weekly charts)
Attachment 7220
Last edited by ratkin; 23-03-2015 at 06:26 AM.
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State of play last night
EXP-20150324.PNG
Windup fees = 6 off Brokerage to sell all shares.
Best Wishes
Paper Tiger
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Member
"A little over dramatic there.With that attitude you would never cross the road in the morning. If the US markets start to tumble there would normally plenty of time to exit the aussie stocks" I'm a cynical about traders. I don't really understand how someone in NZ can beat the market, when we get information late, when our market is closed? If George Soros resided in NZ he would still be screwed. I understand how $NZ currency traders could beat the market but stock traders?
Last edited by nzspeak; 28-03-2015 at 12:43 PM.
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Have some more cash
So Friday GXL closed below the $8.30 initial stop loss we put up and never moved so today we sold them for $3,056.53 ($8.28 each) booking a loss of $264.45 on the trade.
Perhaps I should have had a looser stop, or not have bought at all , but it is done and dusted now.
So time to look out for something else to buy.
Best Wishes
Paper Tiger.
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Are we going to get a monthly summary of:
Cash and opening positions balances
realised and unrealised gains/losses
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