INTRADAY ~ SWING and BREAKOUTS ~! [Archive]

drillfix

14-01-2010, 11:56 PM

Hi folks,

Just wanted to start and IntraDay thread here on ST for those that trade intra-day. Or for those who have their finger on the pulse with a certain stock that is Running, or About to Run.

This way, many of us here will have a heads up to potential entries or exits on stocks that are on the march so for those who are inclined this thread could turn out to be pretty useful for anybody who is keen or wish to dare.

As an example, many maybe know or seen the recent run of ADO (as one example).

Well, those days dont happen every day, but when they do, I feel this thread can be a valuable tool for ST rather than rant, rave, and all the noise on likes of HC. But if anything, we can help our selves by having those with charts posting intraday charts and those with FA knowledge adding their input too so it would all work together nicely if we try.

Anyways as posted on the ADO thread, here another pic with a 2 - 5 and 10 min intraday chart accordingly that can show some of the twists and turns thorught the day.

http://i47.tinypic.com/de5sue.gif

Let see what happens tomorrow hey, but imo, I will be again watching.

shasta

15-01-2010, 12:11 AM

Huang Chung

15-01-2010, 12:17 AM

Might pay to keep an eye on GLA and WHE drilly.....

Both having a big start to 2010, especially GLA. I would put both in the 'high risk' category though....

shasta

15-01-2010, 12:24 AM

Might pay to keep an eye on GLA and WHE drilly.....

...and some bigger fish that ended up, on more than usual volume, LYC & PLA

Disc: Not a trader, please DYOR!

drillfix

15-01-2010, 01:03 AM

Lads, good stocks but please dont take offence, this is meant to be an intra-day thread, not a keep and eye out thread.

You see, we dont actually know which stocks are going to be running tomorrow until on the market opens or either 5 - 15 - 30 mins into the day.

This way we get to see which are the Gems for the day so until that happens on that day we are playing "maybe it will run tomorrow"...LOL :D

Will try to keep an eye on those stocks you guys mention but its gonna be tricky after the nine o'clock DING, and they're off (or at least some are). :rolleyes:

STRAT

15-01-2010, 09:10 AM

drillfix

15-01-2010, 12:18 PM

Hi AA, well looks like its me and you mate and whomever else wishes to share thoughts.

Thanks for the links and advice, they will be valuable for many whom come and read here.
Actually, some totally excellent advice there for many. Especially all the timing parts, as thats what most of its about after all.

Great stuff mate~!

winner69

15-01-2010, 12:25 PM

So is it OEL today

drillfix

15-01-2010, 12:32 PM

Ah Drilly, With the exception of AA and a few others you know we are largely Tortoises here at ST :eek::p

Cmon STRAT, lets get you hooked up mate, we can have you flying and buying fast in no time :D

Mind you, wouldn't want to tell you how much you will make or lose...LOL:rolleyes:

drillfix

15-01-2010, 12:48 PM

So is it OEL today

Winner, is this a day trade for you or just a swing trade?

Whats was your entry and exit targets?

drillfix

15-01-2010, 12:53 PM

Any body having a crack at ADO or ADOO today???

Ponda

15-01-2010, 01:15 PM

AVQ up 75% today.
Currently at 3.5 got up to 4 cents

winner69

15-01-2010, 01:22 PM

Winner, is this a day trade for you or just a swing trade?

Whats was your entry and exit targets?

By the time I had read AAs posts and looked at the details most of the action was over ... but then again the open was much higher than yesterdays close

Unlike you guys I have to do other stuff besides day trading so don't bother that much .... if I do its opportunistic more on bad news and dead cat bounce sort of stuff .... or when really bored and nothing to do and might do something with my play money

One day i might be able to join you every minute of the day .... good trading anyway

drillfix

15-01-2010, 01:35 PM

By the time I had read AAs posts and looked at the details most of the action was over ... but then again the open was much higher than yesterdays close

Unlike you guys I have to do other stuff besides day trading so don't bother that much .... if I do its opportunistic more on bad news and dead cat bounce sort of stuff .... or when really bored and nothing to do and might do something with my play money

One day i might be able to join you every minute of the day .... good trading anyway

Ahh mate, your alright, we dont expect you to sit here minute by minute.

I dont actually day trade every day. Most times I will paper trade in my head to see where to be in and out, watch for all sucker and fake scenario's and try to basically LEARN from all of what I see.

So I guess part of learning to be a day trader, is to sit actually sit here like a day trader would, endure the day of watching and knowing or in my case learning.

Still trying to formulate my trading plan (besides the basics) and trying not to do too many stupid things, which is possible at time.

Anyways, your participation here is what counts Winner, no expectations here. ;)

drillfix

15-01-2010, 01:39 PM

AVQ up 75% today.
Currently at 3.5 got up to 4 cents

Hey Ponda, I dont mind playing a good probability play but Im not really into hanging a Noose around my head.

Meaning, when you play those gap up, and gap down, it works both ways. Some quick big gains, OR some quick big losses.

You could be in the trade and stuck there for weeks on these certain types of stocks. So to me, it dont matter how much % of a rise it is. I would like to be able to get out when I need to, if possible.

Dusty

15-01-2010, 02:23 PM

MST at 2c - 2.1c

1-4 day Trade

Not yet running.

AA

Thanks for your contribution AA, could you do me a favour a go through the thinking behind this trade. Would help with my learning to have an example and know the reasoning and then follow the trade through

drillfix

15-01-2010, 02:53 PM

MST at 2c - 2.1c
1-4 day Trade
Not yet running.
AA

AA, are these the guys that only just got the finance done on Monday or something??

I remember putting an order in but not getting filled.

Chart seems a bit daunting really (downtrend).

AA, are you expecting some FA to come along and divert the TA into new direction?

LOL, I cant even see the ticks on an intraday chart with this one. (as yet)

drillfix

15-01-2010, 02:56 PM

Sure happy I did not take part on the ADO, ADOO Circus today.

Would have been ok if you would have caught the counce at 8.2 and rode up to 9.6 after 10:22am but after that, its been a slow down hill ride.

Looks like its time for the ship to sink to - 50% or - 38% of what it was yesterday. But honestly, who exactly knows where this will land.

ps: friday traders definately not holding for the weekend. and the closer to 4pm it gets, the lower it should probably get.

drillfix

15-01-2010, 03:11 PM

My My, ADO falling like a rock.

Here is Intra charts

http://i47.tinypic.com/opg15.gif

Pitty like we can just short these stocks like the US. darn :rolleyes:

ps: Winner, you will also note OEL intra on the charts above too.

STRAT

15-01-2010, 03:43 PM

Cmon STRAT, lets get you hooked up mate, we can have you flying and buying fast in no time :D

Mind you, wouldn't want to tell you how much you will make or lose...LOL:rolleyes:Like W69 I have other things to do as well. I do play a little when I know Im going to be at the PC all day but this hasnt been the case of late. Pehaps when Im old or retired which ever comes first. I suspect it will be old :o

drillfix

15-01-2010, 04:00 PM

Like W69 I have other things to do as well. I do play a little when I know Im going to be at the PC all day but this hasnt been the case of late. Pehaps when Im old or retired which ever comes first. I suspect it will be old :o

Ahhh you dog you STRAT, that is like calling both me and AA a pair of OLD FARTS....hahahaa~

Naahhh, your right mate, you do whats best for you :)

STRAT

15-01-2010, 04:20 PM

Ahhh you dog you STRAT, that is like calling both me and AA a pair of OLD FARTS....hahahaa~

Naahhh, your right mate, you do whats best for you :)Not at all mate. AA is a lot younger than I am and I have no idea how old you are.

I have a day job. When my anual income from trading exceeds the income from my business I will sell it and consider playing trader full time but dont hold your breath, you could be 10 years old right now and still not live to see that happen :D

Huang Chung

16-01-2010, 12:06 PM

gazprom1

16-01-2010, 01:10 PM

Hi Drilly,

Hes a Tip

10-15 minutes into open check here

Running Top Volumes

https://www.asbsecurities.co.nz/markets/mstemplate.asp?exchange=ASX&report=topvol

Look for High price movements then look at a chart, if its the very first day of large movement for the particular stock it may be a buy, if it has run prior days forget it.

You can also look here

Running Top Gains

https://www.asbsecurities.co.nz/markets/mstemplate.asp?exchange=ASX&report=topgain

This Time look for very High Volumes.

look at a chart, if its the very first day of large movement for the particular stock and its on very high morning volume it may be a buy, if it has run prior days forget it.

Purchases Need to made within 10-25 minutes into open, There after risk becomes too high.

Sell on Close of buy day if holding a exceptionally large gain or Open (15-20 mins in) of the next Day.

(Stoploss) "that is" Sell should the Price look like it will Close below your Buy Price in the few minutes before close or wait till the close, if closes below your Buy Price sell on open the next day.

Links state 20 minute delay but in fact runs in real time from my experience, Need to keep refreshing page/browser.

This is a great way to learn what patterns & chart set ups lead to the largest Market Volume Breakouts. Usually it is due to a Break of Resistance of some form or company news. You might also notice the largest Market gains usually are stocks below 25c. Higher the volume behind the movement the better. Some Days are not worth trading so only take the very exceptional trades.

I have made a lot of money using this method, in saying this DYOR , this is not advice and you may adapt it to suit.

http://sharetrader.co.nz/showpost.php?p=289445&postcount=536

Happy Trading

AA

AA,

The links that you provided have a 20 min delay (I am assuming this is because I am not a client of ASB). If you are a clent, is there still a delay or are they live? Otherwise, would be too long a delay before you get the information.

Thanks
Gazprom

drillfix

16-01-2010, 01:35 PM

'Just wanted to start and IntraDay thread here on ST for those that trade intra-day. Or for those who have their finger on the pulse with a certain stock that is Running, or About to Run.'

Drilly....condemmed by your own words, me lad :).

Hi HC,

Huhhh? not exactly sure what you mean. What have I done now?

ps: condemned not condemmed :p

gazprom1

16-01-2010, 01:45 PM

Thanks AA. Will call them on Monday and see what they have to say. May need to open an account with them to get the live data.

Cheers,
Gazprom

percy

16-01-2010, 01:50 PM

aa
i use craigs as broker and have my watch list with stocknessmonster.
nz is delayed 20 mins however aussie is live as i was getting same quotes as craigs.

drillfix

18-01-2010, 07:03 PM

Hi there Gaz,

Mate you mentioned ASB (austal limited)

Dont really like the chart much as it has moved into a downtrend previously and right now kinda sits in No Mans Land, so as far as I go, it currently equals = No Go. (imo)

Dont know much about the FA and dont really care but who knows, some of these stocks seem to out of the blue turn around and rocket for whatever reason and if that is a sector you are into and parked your money then you get some gains accordingly.

Anyways, that's my update about that.

drillfix

18-01-2010, 07:12 PM

Now thinking about what could happen or whats around the corner, there seems to be a few things. Or there probably is Hundreds of things and we can only see a few things each in our own individual heads.

What I mean by this is there is lots of FA that will come into play by the end of the month and start to trigger a Stack of TA breakouts all over the show.

Does anybody actually use a spread sheet to log such or type of timing activies to co-ordinate their TA breakouts along with FA supported breakouts at all?

Would be curious to know.

Ponda

19-01-2010, 12:20 PM

BCN and BCNOA are having large volume turnover and very liquid
DYOR

currently at 3.3 and 2 cents

drillfix

19-01-2010, 12:32 PM

BCN and BCNOA are having large volume turnover and very liquid
DYOR

currently at 3.3 and 2 cents

Cheers Ponda, will have an eyeball on these doggies.

Currently in a trade atm with RDR.

gazprom1

19-01-2010, 12:42 PM

DF,

I am having a play with 2 stocks today - not flash at this stage!!!!

Gaz

drillfix

19-01-2010, 12:47 PM

DF,

I am having a play with 2 stocks today - not flash at this stage!!!!

Gaz

Gaz, well are you gonna tell us which ones or should we Tele Remote into your portfolio ...LOL :eek: :p

gazprom1

19-01-2010, 12:50 PM

DYL and RTL - flat on both....no down 0.5 cents on DYL.

dragonz

19-01-2010, 12:51 PM

irg could be a play today.

gazprom1

19-01-2010, 12:51 PM

IRG was the one....looked at it at 2.1 and thought na. Currently 2.9!!!

dragonz

19-01-2010, 12:59 PM

IRG was the one....looked at it at 2.1 and thought na. Currently 2.9!!!

Shes bouncing back from -2 points then moving again on large voloume. The traders are in to it now. She is all on

drillfix

19-01-2010, 01:03 PM

Good call, IRG is in play ok.

drillfix

19-01-2010, 01:05 PM

Whats your Entry Gaz??

gazprom1

19-01-2010, 01:09 PM

Good call, IRG is in play ok.

So is:

CSS CLEAN SEAS FPO 0.320 0.040 14.29 0.315 0.325 0.285 0.325 0.280 330 10,673,992

RTL 2.7 and DYL 32.5....may be getting out shortly. CSS is looking ok.

Junior80

19-01-2010, 01:12 PM

bought into BCN a few days ago at 3c. With announcement imminent, hopefully will go for another run.

gazprom1

19-01-2010, 01:16 PM

RTL is static but vol increasing...

dragonz

19-01-2010, 01:29 PM

Good call, IRG is in play ok.

I'm in at 3 cents. Might be a bit late but we'll see what happens

gazprom1

19-01-2010, 01:30 PM

I'm in at 3 cents. Might be a bit late but we'll see what happens

Good luck...

drillfix

19-01-2010, 01:33 PM

RTL is static but vol increasing...

Gaz, RTL not looking good via intraday 5min chart.

I also think IRG is going to do a shake out soon as the 5 min chart shows the MA about to cross and the 2min chart shows side ways toggling up down, but more sellers are appearing so a fall is on the cards IMO.

drillfix

19-01-2010, 01:35 PM

Here ya go folks. Intraday 1, 2 and 5 min charts.

Make of them what you will.

http://i49.tinypic.com/262095d.gif

dragonz

19-01-2010, 01:39 PM

I'm in at 3 cents. Might be a bit late but we'll see what happens

Voloume has dried up in the last 10 minutes. The next increase in volume will tell wether its a fizzer or the price moves up to the next level

drillfix

19-01-2010, 01:40 PM

Has anyone traded NWT before? Great intra-day range by percent and easy S&R to determine.

Seems like a stock Dragonz might have traded?, got in at 0.007 yesterday on that volume, have a sell in at 0.008.

interesting Trading concept.

AA

Hi AA, no mate. dont really trade those type of stocks.

As you say that is a specific type of trading which I dont know exactly what you would call it.

But it has what I call the EGO (empire oil/gas) effect (chart wise) that is very BINARY....LOL

.

Now out of RDR at a half a cent loss.
Thought there was going to be some momentum there but nope~!

dragonz

19-01-2010, 01:59 PM

Has anyone traded NWT before? Great intra-day range by percent and easy S&R to determine.

Seems like a stock Dragonz might have traded?, got in at 0.007 yesterday on that volume, have a sell in at 0.008.

interesting Trading concept.

AA

I've been trading boring blue stocks for 3-5% moves these last few weeks AA. Penny dredfuls are a lot more fun.

dragonz

19-01-2010, 02:01 PM

IRG is a bit bearish at this stage. 2 points forward and 3 back. This can turn on a turn of a pin however. Fingers crossed.

gazprom1

19-01-2010, 02:13 PM

VLA is in play...last 20mins has been flying!

drillfix

19-01-2010, 02:16 PM

IRG is a bit bearish at this stage. 2 points forward and 3 back. This can turn on a turn of a pin however. Fingers crossed.

Your not wrong about the pin dragon.

But if of a slowdown now, but thats lunchtime. Let some of the brokers have a few beers and then lets see hey..lol

Not to happy with the 10 min chart, but the 5min chart nearly shows its gonna turn back up.

Archer

19-01-2010, 02:21 PM

CXY run seems to have just begun A

dragonz

19-01-2010, 02:22 PM

Your not wrong about the pin dragon.

But if of a slowdown now, but thats lunchtime. Let some of the brokers have a few beers and then lets see hey..lol

Not to happy with the 10 min chart, but the 5min chart nearly shows its gonna turn back up.

Hey thanks for the charts Drillfix. Its good to visualise this instead of refreshing all the time. Next trade I'd do on this is 2.5 to 2.7. But as you say , after lunch it'll heat up again.

drillfix

19-01-2010, 02:27 PM

CXY run seems to have just begun A

Hey Archer, I guess some of that Long Awaited news must be coming close in to fruition.

Hope your holding a few of these still, although this stock as you know seems to always get resistance at 10.5 to 12c

drillfix

19-01-2010, 02:32 PM

Here is an updated one of IRG 1 min ago Dragon.

http://i48.tinypic.com/25z5uld.gif

Im out and staying out for the time being.

drillfix

19-01-2010, 02:35 PM

Here is a VLA intra day for those intersted.

http://i50.tinypic.com/245d5rk.gif

gazprom1

19-01-2010, 02:44 PM

Thanks DF. I am not aggressive enough, Saw VLA at 5.2 and put a bid in and it moved to 5.5 and missed out. Now 8.5!!! It has been IRG and VLA today!

gazprom1

19-01-2010, 02:52 PM

...10 cents...150% for the day!

drillfix

19-01-2010, 02:53 PM

This is insane (VLA)

Typical biotech stock that everybody now will play and in a couple of days it will be back to where it started as the circus moves on.

10c now, sheez, I dont have balls of steel and I have already taken 2 small hits today so may as well go back to a swing trade to actually make some money.

Ooppss make that 11c

everytime I turn my head it has gone up a cent.

drillfix

19-01-2010, 03:02 PM

Hey thanks for the charts Drillfix. Its good to visualise this instead of refreshing all the time. Next trade I'd do on this is 2.5 to 2.7. But as you say , after lunch it'll heat up again.

I actually believe the money or profits traders took from IRG and moved it into VLA.

Now lets see what happens with IRG again.

I am inclined to sit on the sidelines. (boring I know) but as I said, I have taken 2 small losses today and I dont need a 3rd. :rolleyes:

gazprom1

19-01-2010, 03:13 PM

I have taken two losses (one very small and the other small) today also DF so I think I will be doing the same. Gaz

sharer

19-01-2010, 03:14 PM

This is insane (VLA). Typical biotech stock that everybody now will play and in a couple of days it will be back to where it started as the circus moves on ....

At 11a.m. VLA reported quite favourable results from PhaseI trial of their new immunological treatment for metastatic melanoma, and outlined plans for Phase II & IND applications to FDA. Obviously every effort is being made to speedily get to the marketable treatments stage, especially for such a widespread & often fatal disease.
But it will take some years. Plenty opportunities for more trading circuses (at much higher sh prices). [ 9.7c sellers currently have the upper hand ... ].

dragonz

19-01-2010, 03:27 PM

I actually believe the money or profits traders took from IRG and moved it into VLA.

Now lets see what happens with IRG again.

I am inclined to sit on the sidelines. (boring I know) but as I said, I have taken 2 small losses today and I dont need a 3rd. :rolleyes:

You are dead right Drilly. I normaly only use anout 5% of my portfolio on these sort of plays as they are gambling and no matter how good you think you are a bigger fish makes the decision on where the share price goes for the day. Im about 5 grand down today. Not the end of the world but it took my focus of mmx, ndo and aqp. Oh well

drillfix

19-01-2010, 03:46 PM

Sheezes Dragon 5K down, that would be too much, way to much of a hit for me. Dont know how you can do it mate.

Here is a mix of both IRG and VLA on both 2 and 5 mins

You can see VLA now trading below the green line in the 5

Anyways, still may be a bounce for IRG, but Im not game.

Here ya go folks.

http://i50.tinypic.com/x55kyd.gif

stone small green

19-01-2010, 03:51 PM

Today is a weird day...

I remember selling my VLA at 4c last wednesday....

drillfix

19-01-2010, 04:07 PM

Looks like VLA may start to march upwards again folks.

gazprom1

19-01-2010, 04:07 PM

Just been in and out of VLA....9.1 in and 9.4 out. Had to go to 8.7 on the way!!!

drillfix

19-01-2010, 04:11 PM

Hey Gaz, your obviously a man of adventure, in and out at profit is good.

What are you using for checking your intraday, just clicking refresh...lol?

Every time I say its going this way or that way, the stock does its own thing so this is getting pretty boring calling it but I hope it is profitable for you mate. ;)

gazprom1

19-01-2010, 04:17 PM

Nothing scientific...just watching the volumes on both sides and where it is going. Shoudlhave nailed VLA today and made 50% plus....I may have another dabble today....HELP!

gazprom1

19-01-2010, 04:24 PM

Hey DF - is there a tool that measures every 5 or 10 mins the volatility of a stock?? VLA's volatility intra-day has decreased in the past hour or so.

PhaedrusFollower

19-01-2010, 04:26 PM

Enjoying watching this. I'm gonna come and play as soon as I get a trading account setup. looks pretty much like gambling though from what I'm reading...except you get notified when something is having a run...can't wait!

dragonz

19-01-2010, 05:13 PM

im out of irg @ 2.4 ouch. Waiting to see if vla falls back to 9.1

gazprom1

19-01-2010, 05:18 PM

Drangonz - a least you are out. VLA is 10 again!!!

dragonz

19-01-2010, 05:23 PM

Drangonz - a least you are out. VLA is 10 again!!!

Yep thems the breaks. Thats what happens when you become too single focused on whats happening during the day (on a single share). I might try dividing my break outs into 3 traunces but I dont wont to commit more then 5-10 % of my portfolio into these trades anymore then I want to go down to Elleslie and bet on the favourite. Thanks agian to the Newbies for keeping an open mind and teaching old dogs new tricks

drillfix

19-01-2010, 05:55 PM

Im giving this BINARY Trading a bit of a try drillfix, problem I see with it is getting orders filled in a timely manner as you have to wait Queued at support with every other bugger lol, The Intra-day support and resistance range is around 14-16 percent movement per day for NWT and it has better liquidity than the other BINARY stocks, so I think its Trade-able if clever. Due to the volume Breakout yesterday im hoping 0.007 will become the new support level, time will tell, my sells in a 0.008, if it works ill rinse and repeat. i.e keep buying support & selling resistance.

AA

Good luck there AA, I can see what you mean. And in short, whatever works and is profitable cannot be a bad thing, thats for sure ;)

Thumpa

19-01-2010, 06:01 PM

Check TDX trades today . Looking like breaking out from 2 cents.

drillfix

19-01-2010, 06:19 PM

dragonz

19-01-2010, 06:27 PM

Well, looks like a total back flip with IRG and as VLA was playing snap, it ended the day on the high.

Here is the end of the day intraday 5 and 10 for both IRG and VLA

http://i45.tinypic.com/2ppjvib.gif

.

Well, I am off to read a book now.
Has anybody read "How to slap yourself on back of the head to make you a better investor" ???

Nahh, just kidding, just another book which will help me smarten up my idea's and ways hopefully.

It sometimes takes quite a few little losses to sharpen to bring you closer to the complete winner.

Always learning and today has been another good education. Will need to add this to the journal.

Speaking of journals, does any body have a excel spread sheet journal?

I posted one a while back that tracks your trades but doesn't act much like a journal etc.

Ahh well, whatever :p

Ha ha good one Drilly.

But your right. 11.05 was a time to change tack and look at the new announcement move. Its always hard to turn away from a losing position. Normaly I'm flexible but after a heath scare I'm just easing my way back into day trading. Must admit that I had fun today even though it was a bit of a loser for me. Oh well, we live to see another day and thats the main thing

drillfix

19-01-2010, 07:09 PM

Its always hard to turn away from a losing position.

Sheez Dragon, sorry to hear about any health issues there mate. You go easy with that one as Im sure theres a few of us here that need to do that too in many ways.

Hey, with regards to it being hard to turn away, I gotta say, for me that yes it so much used to be so very hard, but now its just another day in rome.

I would lose a couple of hundred and start doing back flips and all sorts of things. Now I can smile because my losses from 65K down to 5Ks down to 1Ks down to 500 dollars and now down to maybe a couple of hunderd or 50 dollars at times.

It has been said by many traders in the US that 70% of their profits or gains are made by shorting stocks. Trading the ASX as such with certain penny stocks posses problems in that you can only trade them one way and not both unless of course the stock is on the so called "list" etc, which to me is frustrating.

I can now fully understand why people trade CFD's instead. You get to go Long or Short on stock, you need less money to get more leverage or exposure and the commissions are less. Something certainly I am going to look into.

Anyways, no need for me to banter on because you already know what I mean and the most important thing here is that your ok and your health is still good as well as your capitol to fight another day.

Get and Keep well buddy ok ;)

gazprom1

19-01-2010, 08:09 PM

Sheez Dragon, sorry to hear about any health issues there mate. You go easy with that one as Im sure theres a few of us here that need to do that too in many ways.

Hey, with regards to it being hard to turn away, I gotta say, for me that yes it so much used to be so very hard, but now its just another day in rome.

I would lose a couple of hundred and start doing back flips and all sorts of things. Now I can smile because my losses from 65K down to 5Ks down to 1Ks down to 500 dollars and now down to maybe a couple of hunderd or 50 dollars at times.

It has been said by many traders in the US that 70% of their profits or gains are made by shorting stocks. Trading the ASX as such with certain penny stocks posses problems in that you can only trade them one way and not both unless of course the stock is on the so called "list" etc, which to me is frustrating.

I can now fully understand why people trade CFD's instead. You get to go Long or Short on stock, you need less money to get more leverage or exposure and the commissions are less. Something certainly I am going to look into.

Anyways, no need for me to banter on because you already know what I mean and the most important thing here is that your ok and your health is still good as well as your capitol to fight another day.

Get and Keep well buddy ok ;)

It was a difficult day alright. Managed to lose on another trade right before the close to make it 3 losses and one gain. Two were avoidable and one wasn't. Losses for the day were $3k whereas last year I would have lost double that as would not have closed out when I did. It is all a learning curve and I will be back tomorrow to have another look.

Great to have you guys doing a similar thing. Appreciate all the comments!

Gaz

drillfix

19-01-2010, 11:39 PM

why some of the most successful traders who stand the test of time tend to focus on the movements within the most liquid blue chips.

I think your moving in leaps and bounds Drilly in terms of positive thinking so would hate to see you jumping into CFD's too soon only to find it not so welcoming.

Anyway the choice is yours solely but just my thoughts.

AA

AA, thanks for the heads up on that mate. I guess sometimes I get frustrated and think about alternatives but maybe I forgot to say I wouldn't be just rushing in as a would set up a practice account to test the waters out prior.

But whilst thinking about other alternatives, I have also been reading about Forex too and now have some pretty excellent Study reference (sets) which I came across ;) no so long ago...lol But that too will require a practice account and more further study. But all the previous study does totally add to whatever you go to trade.

In fact, most of the courses I recently have done were primarily on NASDAQ and US stocks, it also tips you the best way to setup your trading business (in the US). You know, before and around 2007 out of approx 1.5 million traders or investors in the US, there are only approx 60,000 using Level II direct access trading platforms and the majority only using Level I.

For me, I am finding that even with WebIRESS, not only does it lack Charting DATA past 1 year, it also lacks the ability to get in and out of a stock in a HURRY.

Today is an example, meaning both IGR or VLA were running pretty hot and by the time you try to enter or exit the game has moved away and you have missed your mark. Some will say, put a stop loss in or conditional order, well by the time somebody goes to do that, you are already at your loss and you would be quicker exiting out manually.

I also spoke to Iress and Commsec about a particular issue had, and by the sounds of it, they are trying to make Iress the standard in every single brokerage in Australia and NZ.

Problem with that REMAINS the execution system, the actual brokers themselves or Insto's will already have the unfair advantage by using more of a Level II direct access with probably more features than what any of us here can see as Retail Investors.

This is the thing I am tired of. Getting played and trying to beat the players with one hand tied behind our backs, and you gotta believe me, we have our hands tied.

Now its time to say sorry AA, as seemed to have typed alot and now I dont know how I got onto this...lol

But yes, more research and more thought prior to CFDs...lol

drillfix

20-01-2010, 12:23 AM

Losses for the day were $3k

Great to have you guys doing a similar thing. Appreciate all the comments!

Gaz

Holy Toleda's GAZ, 3K for the day???

Man to me, that is a huge loss for one day.

You guys must be playing with some big position size or something as if a stock goes against me more than 100 bucks then I am out.

I dont usually trade or take part in this HOT POTATO type of trading method as some have said its like gambling, and right enough, it is like gambling. But with some fancy lines and volumes and indicators we can see when at least when we should be in or out.

Clearly, what I saw (but never mentioned) was when VLA was running and then it ran again, traders were ADDING to positions when the stock was running, after it goes so far, they add to it again. For those that know Oliver Velez, it was that style of daytrading (IMO).

Anyways, a part from myself taking a small loss on IRG and not being on or riding VLA, I sure can see what happened and what I maybe should have done as can anybody else and having watched today. Just need to look back through the ID charts posted today and this will be mentally a lesson for where we all went Right or Wrong.

So guys, lets keep our losses down to a minimum hey, unless your an intraday Guru with stacks of dosh.

If your losses are created due to large position size, then Simple reduce position size.
If your losses are created due to lack of judgment then Simple, just take the a small loss rather than wait for a big one.
And remember, if a stock turns against you, what do you do??? Its simple, take the loss.

And today like VLA, if another stock its running HOT, take a nomilal position asap, if it keeps going, double the same position, if it keeps running, take yet another position. BUT as soon as it starts turning against you, which it eventually will do, DUMP IT ALL, simple right? In theory and after the game has played, Yes it is, so now all we have to do is get it right the next time round OK? So make rules and stick to them.

Also let me say that, its great that you guys all posted here, as this is why this particular thread has been created and I am enjoying it. I am looking forward to eventually profiting from whatever lessons I read from both you Dragon and Gaz and AA with his great adivce.

drillfix

20-01-2010, 02:00 AM

Hey Drilly. You now I love you bro. The reality is that I've been making a living from blue chip scalp for over a year now.Well before the market turned. I cant get my head around these small cap trader plays, I'll leave it for the young fellas but I do commit a few grand when I havnt got bsome tart massaging my bollicks.

Ifd you want to make a few bucks then fellow AA 's advise of support/resistance, or go Index or forex trading. My opinion only

LOL dragon, I hope you can claim those tart massage on tax at least :D

I dont just day trade wild penny stocks in a desperate bid make a dollar here or there. Most of the time I will study the moves that occur during the day and learn from them so when eventually my time comes around I can pick it and nail it real good.

While I have other holdings which are for more a longer term play, I see some of these intraday plays as a potential that if you can even do 2 or 3 really good trades a year, then it will be all worth while.

Practice makes perfect so they say, or close to it, so providing I am not losing (much) money then I feel I am getting closer to getting it right. Or much more right than say I was last year, thats for sure.

Anyways, each day is new, lets see what tomorrow brings :)

gazprom1

20-01-2010, 08:32 AM

percy

20-01-2010, 10:14 AM

gaZPROM1
the Dow sets the trend for asx and nzx.
would it not pay to stay out of market on down days,and only buy on up days.
i

try to sell on up days and if buying i look forward to dow down days.

drillfix

20-01-2010, 11:14 AM

Execution is the most frustrating issue I have. Missed on VLA yesterday at the first try back at 5.2 which should have been executed. Missed on GCR solely because of execution. Makes it more difficult to turn a profit.

More discipline is required today - make the losses smaller and the profits bigger.

Gaz, that is totally understandable and it does and will frustrating.

Problem here is the platform we use to execute, so its a execution platform problem that we can experience.

Even with webIress there is a problem with that as most of are using only level one tools to execute (although some platforms gives us some Level II data) we cant get the order in and out quick enough.

I can only say if I want to get in quick and the bid is say 5.1 cents, I will add a penny to my order ie: 6.1 so that is its running hard you will get the better price and faster. Same thing goes for getting out, dont try to get out, enter in a penny below if the stock is running against you, it will be filled at the best price anyways.

You probably know this already anyways however always good to keep in mind for certain types of stocks or runs.

drillfix

20-01-2010, 11:29 AM

try to sell on up days and if buying i look forward to dow down days.

Well said and good point there Percy.

On Red days there are plenty of sellers and if thats the case, prices will be falling so saying that you dont really have to compete to hard to buy your stock.

Therefore on Green days, you sell it to people who feel good and want to buy so because there are lots of these buyers you dont have to compete with other sellers very hard.

In short, you are making the path of resistance less for yourself and increased your probability.

Now I know this is a debatable subject but there is logic in it.

dragonz

20-01-2010, 11:59 AM

looks like vla is going to open higher. Have got a order in @ 12cents in case in falls back.

drillfix

20-01-2010, 12:09 PM

Hope it rocks for ya AA, this is exciting even just to sit and watch :D

drillfix

20-01-2010, 12:15 PM

Yup, still early.

Looks like a bit of Whip Saw going on for the first 20 to do shakeouts.

dragonz

20-01-2010, 12:18 PM

Guess your a holder now Dragonz :)

AA

For about 10 minutes lol

dragonz

20-01-2010, 12:19 PM

I'm in tis @ 23.5.

Thumpa

20-01-2010, 12:24 PM

Check TDX trades today . Looking like breaking out from 2 cents.

2.3 / 2.4 now . starting to move on goodish volume (is goodish a word?)

drillfix

20-01-2010, 12:28 PM

I'm in tis @ 23.5.

Me too, in TIS @ 24c

drillfix

20-01-2010, 12:31 PM

Keep an eye on VLA though,

Anybody notice it sitting on the FIB line of 38.2% as support currently thereabouts.

drillfix

20-01-2010, 12:39 PM

Out of TIS at yet another loss.

stone small green

20-01-2010, 12:44 PM

Im Still holding, in the red now though, after a 200% rise yesterday, profit taking is not a unreasonable assumption, once the profit takers are done we will know if theirs anymore left in the tank.

It will need to be more buyers.

dragonz

20-01-2010, 12:46 PM

Out of TIS at yet another loss.

I might hold on to this one.

drillfix

20-01-2010, 12:50 PM

New entry.

PNO PHARMANET FPO 0.020 0.009 81.82 0.019 0.020 0.012 0.022 0.012 379 121,984,799

Hmmmm, what think its running folks. BUT, watch out as it may turn as it is showing intraday.

gazprom1

20-01-2010, 12:53 PM

I got in at 1.8 earlier and rode it to 2.2 and down to 1.8 again!!!

gazprom1

20-01-2010, 01:01 PM

S*** - someone jsut bumped it down to 1.6!

drillfix

20-01-2010, 01:03 PM

I got in at 1.8 earlier and rode it to 2.2 and down to 1.8 again!!!

You mean PNO ??

Did you take profits or did you forget ..lol

Watch out the 2 minute chart is changing.

Will post intra charts for VLA and PNO in 2 mins or so.

gazprom1

20-01-2010, 01:09 PM

Yep, PNO. Forgot to sell...yep, I know!!! Greed!

drillfix

20-01-2010, 01:13 PM

Hold on there Gaz, News coming in now.

gazprom1

20-01-2010, 01:14 PM

I bet ya it is a speeding ticket!!!! It will not be great if it is...

drillfix

20-01-2010, 01:50 PM

Nope, Trading Halt.

Gaz, I hope you got the funds to cover, as this can be the sort of thing that can happen when using borrowed dosh.

Hope the news is excellent for you Gaz and you blitz it ;)

gazprom1

20-01-2010, 02:03 PM

Thanks DF - going to have to sell something to cover the $12k. Just had a look at HC to see what they had to say...nothing too interesting. Could be a placement or news about their production of a cream is the general consensus!!! They are all bullish over there...

I hope it works out for the positive...not going to lose any sleep over it though. I normally trade in $25k lots but was a little gun shy today.

Are you in TIS?

GAz

drillfix

20-01-2010, 05:43 PM

Are you in TIS?

Nope, was only in for 5 minutes and that was that.

As it turns out it came back anyways so I could have avoided a small loss, but thats the way it goes, as I say if it goes against me, Im out, then so be it.

Sometimes the best trade of the day is NO TRADE, so guess I will need to practice that one too :p

Good luck with with PNO news, may it run in your favour.

gazprom1

20-01-2010, 06:04 PM

Nope, was only in for 5 minutes and that was that.

As it turns out it came back anyways so I could have avoided a small loss, but thats the way it goes, as I say if it goes against me, Im out, then so be it.

Sometimes the best trade of the day is NO TRADE, so guess I will need to practice that one too :p

Good luck with with PNO news, may it run in your favour.

Thanks DF. Just covered it off just now so at least I will be able to settle it. Wasn't looking at being a "long-term" shareholder. At least it is interesting.

gazprom1

21-01-2010, 12:17 PM

RRS is away....

drillfix

21-01-2010, 12:27 PM

Gaz, gotta tip toe pretty cautiously today I reckon.

Forget the doggies today and look for the bounce trades of good quality stocks that get smashed, try to buy support and sell on any bounce.

gazprom1

21-01-2010, 12:28 PM

Yeah, for sure. Not doing anything...just watching. IRG is up a couple of bips.

gazprom1

21-01-2010, 12:51 PM

I am in RRS at 9.1....?

gazprom1

21-01-2010, 12:56 PM

...volume has dried up in RRS...

drillfix

21-01-2010, 01:04 PM

Here is some insight on id charts,

http://i47.tinypic.com/wujfbk.gif

the 2 min one is turning, but the daily looks pretty good.

gazprom1

21-01-2010, 02:43 PM

Df - I know it is a marginal day given it is a down day but have just picked up gcr at 2.4. I checked it out beginning of the week and it ran to 3.3 on news. Reasonably interesting.

Ponda

22-01-2010, 12:40 PM

DDT is running now

Ponda

22-01-2010, 12:42 PM

DDT is running now

and is now crashing back

drillfix

22-01-2010, 12:49 PM

Yeah Ponda, seen DDT, missed the intro and it shot up pretty quick , 5 min chart curving over now as is the 10 mc

The 2 min ma's have now crossed and it looks like here comes the downside or sideways movement, who knows, you can never tell with these stocks, but chances are Profit takers will dump the load with a current market condition like this.

All I got to say is, if it turns against you, get out.

percy

22-01-2010, 01:17 PM

may not be a day trading stock , however on a down day PGC and PGCOA are up.
PGCOA are in the money trading at 1cent with 2cents to pay 31/5/2012.
PGC last trade was 3.3cents.
I am not a trader but love all your posts.2min moving ave bit different from the 200day i get direction from.

stone small green

22-01-2010, 01:32 PM

I'm in DDT at 6.8c, plan for a quick 5-10% profit.

drillfix

22-01-2010, 01:33 PM

.2min moving ave bit different from the 200day i get direction from.

LOL sorry about that Percy, had my 1st panadine hit of the day and meant to say 2 min chart, not ma, I did mean the MA' on the 2 min and 5 min chart had crossed over.

drillfix

22-01-2010, 01:44 PM

I'm in DDT at 6.8c, plan for a quick 5-10% profit.

Good stuff there SSG,

Im sitting on the sidelines and just watching. Not sure if that's a good or bad ideo atm :rolleyes:

stone small green

22-01-2010, 01:48 PM

I guess the support have be created at 6.8c.
if that gets broken, I will be off.

intraday charts have MACD about to cross above and stochastic bottomed.
Should see another run soon.

Ponda

22-01-2010, 02:55 PM

VLA running again. 7.7 cents

drillfix

22-01-2010, 03:17 PM

Hey Ponda, yep here is an id of VLA.

http://i50.tinypic.com/egwdn8.gif

.

Hey SSG, here is my intraday of DDT

http://i47.tinypic.com/iqvjw2.gif

Too risky for me, think there are better bounce trades out there but that all depends on your style of trading really, or how prepared you are, or what risk level and what you think is going to happens to the markets in the US tonight or tomorrow.

Bounce tomorrow for the US, or how about us on the ASX, a rebound??

Lots of talk saying we need this, and its coming.

I got 50% cash out, to be sure to be sure as they say. So I am only half wrong :rolleyes: ;)

stone small green

22-01-2010, 03:32 PM

drillfix

22-01-2010, 04:23 PM

thanks DF
what intraday chart do u use now?
I use spark, find it pretty good,
I got out of DDT at 6.9c, cover my brokerage and lunch..lol

ADO seemed to have pulled up as VLA.
I'm looking at their options now,
try to found a good short term buy.

I think it's best to get the cash on hand at the end of day. Makes me feel safer.
ssg

Glad you got out Safely there SSG.

The platform I use is webIRESS.

It seems similar, but may I ask you a couple/few questions regarding Spark?

Does it provide you with charts longer than a Year of data for a daily?
Can you use short cut keys to buy/sell Trade etc with pre set Quantities?
Does it also have a Broadcast funtion, ie: right click and broadcast?
Do you have to use a broker only specified by them, or is the broker them?
If so above, how much per trade it is?
Or can you trade with your own broker (any broker)?
Is it web based or installation on computer?
How many charts can you run at once?
Can you do chart overlays on top of each other and Sector(s)?
Does it have alerts for price, volume, news etc?
What features would you say does the program lacks or any other wants?.

Sorry for all the questions, but I dont know anybody else who uses Spark but I am interested.

You can just pm me these if you want, or post here so othes can also see and relate. its up to you. :)

stone small green

22-01-2010, 04:49 PM

Glad you got out Safely there SSG.

The platform I use is webIRESS.

It seems similar, but may I ask you a couple/few questions regarding Spark?

Does it provide you with charts longer than a Year of data for a daily?
yes
Can you use short cut keys to buy/sell Trade etc with pre set Quantities?

Don't think so, it's only to show u the all relevant information
Does it also have a Broadcast funtion, ie: right click and broadcast?
I think so, but it's not right click.
Do you have to use a broker only specified by them, or is the broker them?
don't think so
If so above, how much per trade it is?
Or can you trade with your own broker (any broker)?
Is it web based or installation on computer?
installation
How many charts can you run at once?
9
Can you do chart overlays on top of each other and Sector(s)?
YES
Does it have alerts for price, volume, news etc?
it can be set
What features would you say does the program lacks or any other wants?.
For me as a short-term/ day trader.
it's very usefully, made a few buck from it:D
Might change to some more intense software when I'm more comfortable with the information and indicators

Sorry for all the questions, but I dont know anybody else who uses Spark but I am interested.

You can just pm me these if you want, or post here so othes can also see and relate. its up to you. :)

Lastly DF, I'm also quite new to spark, before I was only doing end of day from IC. IF u are interested in spark,
go to the website http://www.iguana2.com.au/
for a two week free trial and enjoy all the features within two weeks.

then u can decide.

Hope we all make Bazillions :rolleyes:
ssg
SSG

denpal

22-01-2010, 05:27 PM

MAU has been going nuts as has IFE today, well if not nuts then a handy 10% up.

drillfix

22-01-2010, 05:35 PM

MAU has been going nuts as has IFE today, well if not nuts then a handy 10% up.

Sheez, news on getting permits and stuff, no drilling or anything, just pieces of paper and the stock rockets.

God have pitty on those who hold stocks that actually have proven resources in the ground, as they are getting smashed...lol

Goes to show what kinda world we live in folks~!

drillfix

22-01-2010, 05:36 PM

Still holding VLA, still in the red, but not too bad at the moment, heard there might be more news to release in a day or two.

AA

Good luck with that one AA, I hope this stock rebounds big for you soon.

stone small green

22-01-2010, 05:41 PM

Still holding VLA, still in the red, but not too bad at the moment, heard there might be more news to release in a day or two.

AA

I was in at 11.5c, then sold at 8.5c

after gaining and lossing few buck.
I decide to stick with VLAO.
Hope it isn't too bad for you AA
ssg

drillfix

25-01-2010, 04:45 PM

My My,

Check out all these speeding tickets being handed out like its the Indy 500

PNO, OBJ etc etc

Anybody play the intraday today?

stone small green

25-01-2010, 08:22 PM

My My,

Check out all these speeding tickets being handed out like its the Indy 500

PNO, OBJ etc etc

Anybody play the intraday today?

Someone was saying on HC he made 40% on PNO.

nah, waiting for my 20% from VLAO:D

drillfix

26-01-2010, 01:46 AM

Someone was saying on HC he made 40% on PNO.

nah, waiting for my 20% from VLAO:D

Haaahh, SSG, Lots of those type of Hero's on HC, but they are the ones either in early and the ones doing the ramping.

Dont need to tell you that ya gotta be quick off the mark to nail these type of plays.

There were lots of bounce trades going on today, I caught one but sold a bit too early, but a little profit is better than none I guess, however what I am going through atm is the learning curve in participating in getting in and then out with my pants still on.

I reckon eventually, I will get good at it, or at least better than I am now.

Or better yet, trying to find out which style that suits me or one that I naturally take to thus it adopt that as my own.

Thing is, you never actually know until you try, but part of is actually putting the odds in your favour and getting to know certain stocks and their behavior.

Anyways, Im pleased to hear you have done well, keep up the good work.

stone small green

26-01-2010, 11:14 AM

Good work Drillfix, when trading those runners it does pay to get in early and just scalp what you can.. taking it off the table fast especially if the general markets weak, those small 3-10% gains (after brokerage) really add up and give a great return for time, they compound really fast if you have a good win/loss ratio.

SSG its good to see VLA making a come back, not looking so bad now. Looking Pretty strong really considering the general market, and volumes still very decent.

All the best for today.

AA

Well, SO far I'm seen the sp for VLA to stablize above 7.5c. before anymore announcement.

I'm still keen for ADO as they revenue from signing the contract will be in effect by first quarter of 2010.
I just realize that for day trader, the first half hour-hour is all the time we need. :D

ssg

stone small green

26-01-2010, 11:23 AM

Just found out it's Australia day today.....
happy holiday lol.....
ssg

stone small green

26-01-2010, 11:53 AM

LOL thanks for the heads up re: Australia day today had no idea.

So i take it the market closes for Australia day then, must print out the ASX calender and put it on wall.

AA

http://www.asx.com.au/about/operational/trading_calendar/sfe/2010.htm
it's the link,
I like the NZX site better, easier to find stuff.lol:D

gazprom1

26-01-2010, 12:39 PM

Hey DF,

Happy Austrailian Day!!!! Bugger that the markets are closed.

Managed to get out of PNO yesterday at 1.8 - same as I paid. Was worried it was going to pull back so pulled the pin and missed 20%. Still holding GCR which I kind of like.

I think CXY could be a good short term trade - not intra day but over a few days. Has been builing over the last week or so.

GAz

newbe

26-01-2010, 01:21 PM

Hi Guys,

Just wanted to say what a great thread this was, I have been focusing on longer term trades and have had a few winners -IRN, PEM to name a couple, NBS was a different story! I knew intra day trading was a method but its great to be able to actually read about the pitfalls and possibilities here on this thread. Very good reading indeed and I will stay glued to this thread!

A newbe question for you: With the ASX closed today and with the DOW back up over last night and possibly tonight, is this likely to give more intra day opportunities than normal on oppening tomorrow? Or due to the fast oppening nature of the market would you have had to of been in by close Monday?

Lego_Man

26-01-2010, 01:30 PM

Monday would have been the best day to pick up some bargains on the ASX (assuming you wanted in). I was happy to see quite a few of my stocks find decent support, but had no cash to throw in.

If the US Markets are strong overnight, tomorrow will see a decent gap up.

drillfix

27-01-2010, 04:02 AM

Hey DF,

I think CXY could be a good short term trade - not intra day but over a few days. Has been builing over the last week or so.

Hi Gaz, yep, the markets closed due to intoxicated Aussies everywhere. :p

Though, not me as Im a Canadian who lives here as a paperback Aussie ;)

Hey with regards to CXY gaz, I am already in. I have been in and out a few times, but on Monday took a position at 9.2 cents as my previous orders during the recent falls were just not getting filled.

There is some great news being anticipated with this stock and it has been in consolidation for quite some time so I do anticipate a breakout, however if it does not, then obviously funds will go else where to where there is upper motion. Anyway, currently glad to be in position prior to what could be a next leg up.

Hi Guys,

Just wanted to say what a great thread this was, I have been focusing on longer term trades and have had a few winners -IRN, PEM to name a couple, NBS was a different story! I knew intra day trading was a method but its great to be able to actually read about the pitfalls and possibilities here on this thread. Very good reading indeed and I will stay glued to this thread!

A newbe question for you: With the ASX closed today and with the DOW back up over last night and possibly tonight, is this likely to give more intra day opportunities than normal on oppening tomorrow? Or due to the fast oppening nature of the market would you have had to of been in by close Monday?

Hi Newbe, congrats on our winners of IRN and PEM.

The whole idea of the this thread is to learn from others both mistakes and wins along with the pitfalls as you say and believe you me, there are plenty of them to write about in a journal.

Now re-the Dow, it depends. It depends on is there any economic news affecting the Aus market due out, is there anything with a particular sector that is being wound down thus dragging certain stocks with it.

Sometimes, it doesn't matter a darn, as you can see a stock come up on the radar where its is suddenly becoming heavily traded and that volume drives price, that price and volume action attracts traders and the stock becomes totally liquid. If you using charting or TA to see support or resistance broken you can get targets and regardless if the dow is green or red wont matter as it is purely a momentum move which also is either news driven, or news anticipated.

Caution must be exercised as to me, I call it a game of Hot Potato where somebody is going to drop it because its run too hard, too fast and suddenly everybody's hands are getting burned. Sometimes it keeps on going. As in the other day by watching a stock go from 0.008c to 6 or 8c or something.

Im pretty sure the dow was a bit red back then so back to your question, I think the answer is No, it does not matter. But this is also circumtancial or momentum plays.

Sometimes I think Traders just want something to trade regardless, so they dont really care anything about the stock providing there is Volume and Liquidity there and if there is even the slightest potential signal to make a positive out of it, then most of these Generals, Captains and Storm Troopers on Hot Copper will force a trade if need be, so I cannot specify enough to tak caution when reading and considering any trade from there. OR should you choose to do so then, make that work for you and use it to your advantage, but IMO, that is not something to make a career from.

As I type, the dow is down -21 or so points, who knows where it will finish, or what Lead the Aus Market will take from that.

Personally, if you study some midcaps and study how they head to support or bounce on support on down ASX days, you will find that it is a much less stressful/pressure play unlike these 2 day glory stocks by which you sit glued to a 1, 2 or 5 minute intraday chart sweating it out in a chat room.

Its all about finding your own "what works best for you" type thing, or better yet, "What makes you money consistently".

Some people take to a style like a fish to water, some have to work hard at it, some do not FEAR the same as others fear.

What I mean by that, is the other year I lost a stack and it near totally wiped me out. Now a newbe with some funds will not FEAR the same way I fear. Because unless you have nearly lost all your capitol you cant. This can be a good thing as you can do trades without such fear an trade without the scars of such deep loss. But then out of no where, that can also work against you because if you dont fear Enough, suddenly you get caught off guard and perhaps find your self in a set of circumstances that put you in a predicament where you are over exposed to a stock, sector or index and then it happens, your Account Value is over 50% down in a flash and it may take a while to struggle back and only because of one or two thoughts or decisions.

Well, enough about this, WHO cares about tomorrow, green, red whatever, Know how to spot opportunity in any market. There is a saying Trade with the flow of the market and not against it. If you can understand and master that, then you will have already stacked some odds in your favour.

Anyways, hope that little wrap helps you Newbe. Others here share their input and outcomes accordingly which provide a Gem of information that should help you keep tabs on, "Know thy self". ;)

newbe

27-01-2010, 10:00 AM

Hi drillfix,

Thank you again for another detailed reply. You with out a doubt achieve to inspire thought and discussion. Your comments are defnatley taken on board.

STRAT

27-01-2010, 10:31 AM

A newbe question for you: With the ASX closed today and with the DOW back up over last night and possibly tonight, is this likely to give more intra day opportunities than normal on oppening tomorrow? Or due to the fast oppening nature of the market would you have had to of been in by close Monday?Hi Newbe.
By definition alone thats not how it works. If you are charting the days action and using that info to make trades within the day. Laying down a bid pre open is essentially going in blind. Doesnt mean you wont be successful as there may be other info that led you to make that bid.

I seldom play this game. Im too slow and its all to easy to get burned. Remember who you are up against. Other than being up against skilled Day Traders you will need data feed at least as fast as they have. You dont want to be the guy who takes a knife to a gun fight :D

newbe

27-01-2010, 11:13 AM

STRAT

27-01-2010, 12:07 PM

Thanks Strat and understood. What is the best way to get the fastest intel without paying too much? Looking into the systems listed earlier they can cost over $200 per month. Is that what some of you intraday traders are paying?Sorry Newbe, cant help you there. I dont have it. Ask the other fellas on this thread or the one below.

http://www.sharetrader.co.nz/showthread.php?t=6787&highlight=make+call

stone small green

27-01-2010, 12:07 PM

Thanks Strat and understood. What is the best way to get the fastest intel without paying too much? Looking into the systems listed earlier they can cost over $200 per month. Is that what some of you intraday traders are paying?

consider the return u get out the them though,
For newbie, I recommend using Incredible charts, which is 12us a month for end of day,
start from end of data first, as you get more familiar, then go to intra day.

ssg

STRAT

27-01-2010, 12:13 PM

consider the return u get out the them though,

ssgNo doubt but the losses can add up just as quick.

Its a bit like the pokeys, one win will have you back for more but statistically there are more losers than winners and time input is significant. Its a full time job.

drillfix

27-01-2010, 12:17 PM

I think CXY could be a good short term trade - not intra day but over a few days. Has been builing over the last week or so.

GAz

Are you watching Gaz, its happening ;)

Although, the usual block at 10.5 up with millions as usual, always a capper, but must be news not far away , surely. The volume will pre empt this move.

STRAT

27-01-2010, 12:22 PM

drillfix

27-01-2010, 12:26 PM

Looking into the systems listed earlier they can cost over $200 per month. Is that what some of you intraday traders are paying?

Some yes, me, No.

I use webIress which is no charge if you do at least 10 trades per cal month.

Usual cost is about $80 bucks if you dont make 10 trades. So if you dont do trades no point in using it I guess.

Think I will do the demo of Spark for comparison of features and usuability to see if its worth paying the extra dollars.

drillfix

27-01-2010, 01:39 PM

personally I aim to trade within a 8 day period but adapt depending on market movements so trades can be longer or shorter, I let the market decide.

In my opinion trade whatever timeframe gives you the best return for time.

Ahh AA, I like it, ride the so called 8 Train

Agree, whatever time frame gives the best returns then so be it with that time frame.

drillfix

27-01-2010, 02:11 PM

AA have you checked out much of Oliver Velez at all?

The reason why I asked was in one of his Vids he goes one about the saying take the 8 Train and dont get off until its gone through :P

gazprom1

27-01-2010, 04:17 PM

Are you watching Gaz, its happening ;)

Although, the usual block at 10.5 up with millions as usual, always a capper, but must be news not far away , surely. The volume will pre empt this move.

DF,

I am harvesting today so put an order in for CXY at 9.4 before I went outside. Just returned and saw the move which I missed. Nice though. Even though I missed the trade, I am happy for you!!! Are you still in?

Will be interesting to see the news flow.

I know there is a TGF thread but what are the views on the merger?...looks kind of attractive as a merged entity (COV/ TGF)...cash and great prospect. Could move on drill news?

GAZ

drillfix

27-01-2010, 05:43 PM

Hi Gaz, took profit at 10c on CXY and have put another orders in @ 9.3+4c dont think it will get filled so maybe tomorrow ehh ;)

With regards to TGF, I was in that briefly at 9.3 cents a while back.

Dont remember much of all the details but Im sure ER, JBMurc and Corporate and gang know the in's and out's on that one.

I think if you had the money to spread it would be a great hold but again Im not much of a gold bug at all.

Thumpa

28-01-2010, 11:41 AM

Keep an eye on GGP and VIL today .

Got a mention on a tip sheet , so should get a bit of action.

gazprom1

28-01-2010, 12:19 PM

drillfix

28-01-2010, 12:24 PM

DF,

Good to take some money off the table...I see CXY is in a trading holt. Be interesting to see what the news does to the price!!!

I am in GGP...not for too long I hope!!

Not exactly sure about CXY meaning the TH, it seems worded funny and something to do with a price enquiry from the ASX yet there is no news of the news for CXY.

Anyways, it dont matter, if it goes breaks support I will be in boots and all for a ride.

Currently in ARM for scalp till EOD or tomorrow. Check the chart, why fight things, let the river flow and let momentum take you with it right ;)

drillfix

28-01-2010, 02:45 PM

Keep an eye on GGP and VIL today .

Got a mention on a tip sheet , so should get a bit of action.

Hi Thumpa, can you share which tip sheet exactly would that be?

Lego_Man

28-01-2010, 03:25 PM

GGP is undergoing a bit of speculative frenzy regarding upcoming flowtest results from their (20% interest) project at Fausse Point.

Announcements so far suggest it could be a gusher, hence every man and his dog piling in. Will be all time high volume here today.

I got in at the SPP at 3.5c so showing a tidy return - would like to see it get up into double digits though before i contemplate selling.

drillfix

28-01-2010, 03:49 PM

Hey Lego, little out of touch which Co owns what percentage of what on these two GGP and VIL.

Any quick summary to what could happen or are these your classic BESBS plays.

COLJAY

28-01-2010, 04:00 PM

Hi Drillfix
Re tip sheet on GGP. The Speculator bought another parcel so you know what happens to SP for a while.
COLJAY

Lego_Man

28-01-2010, 04:03 PM

VIL has got 50% interest in Fausse Point.
GGP has 20%.

Havent looked too much into VIL but they are lot more leveraged into the success of the project obviously. GGP has existing production in place but Fausse Point is pretty important as there has been speculation on production declines at their current Bullseye Project. Fausse Point is also low cost which is fairly important in the context of a possibly falling crude price, and also given they have struggled with profitability for some years.

GGP has been sold down to ~3c lately on the back of a cap raising and a substantial shareholder exiting.

They also have 8c exercise 2012 oppies on issue which are fairly attractive.

Theyre still for me more of a short term play however - sell for a quick 2-3 bagger. They need to start making money. I will hold onto my free oppies however.

drillfix

28-01-2010, 04:45 PM

Cheers LegoMan, great brief summary there.

atm, I think I will just spectate and should it run suddenly run the gauntlet then I may hitch a ride up for the good part of 2 miunutes :p

So I guess its a game of watching and waiting on those ones.

Also thanks ColJay, more info the better. So I guess the Speculator has already bought a substantial parcel previously and is now set for a run, as I couldn't see them tipping and then buying..lol.

stone small green

29-01-2010, 11:50 AM

keeping a eye on sma and ssn following the announcement

drillfix

29-01-2010, 12:18 PM

keeping a eye on sma and ssn following the announcement

sheezes stone, SMA took off like a bat out of hell and I didnt even get a chance to peek at it before seeing where it is.

Will watch on intraday, I think the reaction may be pre emptive as this is only a MOU no contract or solidified profit. No wonder its a specky hey ..lol

Thumpa

29-01-2010, 12:19 PM

in to SMA at 2.9 ........ wish me luck :)

stone small green

29-01-2010, 12:20 PM

65m buying vs 3m selling.

might run over 6 cents

Thumpa

29-01-2010, 12:21 PM

out at 3.5 .... gees that was quick

stone small green

29-01-2010, 12:32 PM

in at 3c out at 3.9c

I knew I should have sold my vlao yesterday!

drillfix

29-01-2010, 12:41 PM

Well done guys, glad to hear some successful scalps going on in such a short time.

Moving sideways now, but plenty of support at the moment

May even be worth a 2nd visit conditions pending.

stone small green

29-01-2010, 12:55 PM

go in the another two times entry at 3.7, and out at 3.9
and flied again after my exit for the second time.

waiting for this wave to cease

Thumpa

29-01-2010, 01:00 PM

sma . in again at 5 c

stone small green

29-01-2010, 01:06 PM

just missed the 4.5c entrance, damn!

ScrappyO

29-01-2010, 01:07 PM

I bought at 3.5 sold 5......and left some free carried. It just took off this morning and i chased it up which i usually don't do....I think i got lucky this time.

stone small green

29-01-2010, 01:09 PM

it would be funny to think, someone just happened to bought 1m share at 0.5 yesterday

stone small green

29-01-2010, 01:12 PM

I bought at 3.5 sold 5......and left some free carried. It just took off this morning and i chased it up which i usually don't do....I think i got lucky this time.

that's awesome to hear, from the depth
it might be hard for the shares to fall back to 4c again

ssg

ScrappyO

29-01-2010, 01:18 PM

that's awesome to hear, from the depth
it might be hard for the shares to fall back to 4c again

ssg

Gets the old heart rate up...LOL :D

drillfix

29-01-2010, 01:21 PM

Well, I think the kitchen is a little too hot for me folks.

Either that, or I am just not fast enough.

In for 4c out at 4.1 after a shake seen things turn.

In at 4.4 out at 4.8

In at 5.4 believing the indicator then it fell back to 4.6 in a flash

I think that leaves me 300 out of pocket plus brokerage so far.

another little run happening now and I missed it again.

Take warning though folks the 5 minute chart is curving a bit to sideways which means it could go anyway, but as there is like already over 700% gains today, and a kick ass market, I think I dont favour another ass kicking so only the brave and quick guns will survive.

drillfix

29-01-2010, 01:24 PM

SMA intraday Chart as follows.

http://i45.tinypic.com/e7nvut.gif

IMO, as long as there is a penny spread on this, some scalps can still be very effective.

Thumpa

29-01-2010, 01:29 PM

out at 5.5c on the third attempt.

I can see it touching 6 , but enoughs enough for today

stone small green

29-01-2010, 01:30 PM

SMA intraday Chart as follows.

http://i45.tinypic.com/e7nvut.gif

IMO, as long as there is a penny spread on this, some scalps can still be very effective.

DF
I don't really find the charts usefully,
looking at the market depth on the transaction basis is very usefully for me

oh dear, it's heading towards 6c
sellers are building, beware guys
if the resistance of 10m gets broken, we might see some lights

ssg

drillfix

29-01-2010, 02:02 PM

DF
I don't really find the charts usefully,
looking at the market depth on the transaction basis is very usefully for me

ssg

Yeah but SSG, can you link image I posted next to the chart, you have the Depth there and last 20 trades?

Well, I watch that too, but I use the chart to give me more of probability.

Wouldn't you think that would be a fair assumption to use both to your benefit rather than just disregard one or the other?

Anyways, each to their own and as AA says, whatever pulls a profit for you the best is obviously the one. ;)

ps: I will say this though, using mixed indicator times are not exactly and it probably is best to stick with ether one, or the other.
and you are right about the Volume, you can now see many sellers after lunch stepping up to the plate, chances are by the end of the day it will be a ski slope so for me, this trade is getting close to over.

pps: One last note on doing these trades, I find myself at a total disadvantage not having the use of Hot Keys to buy/sell instantly, No excuses but we need everything possible to give ourselves the advantage as it can cost you profits or create bigger losses not having such functionality, IMO and experience hence me saying previously, I am too slow.

stone small green

29-01-2010, 02:19 PM

Yeah but SSG, can you link image I posted next to the chart, you have the Depth there and last 20 trades?

Well, I watch that too, but I use the chart to give me more of probability.

Wouldn't you think that would be a fair assumption to use both to your benefit rather than just disregard one or the other?

Anyways, each to their own and as AA says, whatever pulls a profit for you the best is obviously the one. ;)

ps: I will say this though, using mixed indicator times are not exactly and it probably is best to stick with ether one, or the other.
and you are right about the Volume, you can now see many sellers after lunch stepping up to the plate, chances are by the end of the day it will be a ski slope so for me, this trade is getting close to over.

pps: One last note on doing these trades, I find myself at a total disadvantage not having the use of Hot Keys to buy/sell instantly, No excuses but we need everything possible to give ourselves the advantage as it can cost you profits or create bigger losses not having such functionality, IMO and experience hence me saying previously, I am too slow.

ha, I wish I had hot keys, then would have got in around 2c.
I still used to the traditional of filling out the order on asb securities

anyway, 30% is good enough for the day,
will keep trying to make some savings for life in AKL:D

at last,good luck with the rest of the day and enjoy ur weeksends, DF
ssg

drillfix

29-01-2010, 02:34 PM

ha, I wish I had hot keys, then would have got in around 2c.
I still used to the traditional of filling out the order on asb securities

anyway, 30% is good enough for the day,
will keep trying to make some savings for life in AKL:D

at last,good luck with the rest of the day and enjoy ur weeksends, DF
ssg

No worries ssg, glad to hear you made 30% and others who also kicked well.

Will post another chart for a midday view for reference for those that want to peruse.

Ava good one m8y

drillfix

30-01-2010, 12:46 AM

thanks DF
what intraday chart do u use now?
I use spark, find it pretty good,

ssg

SSG, mate sorry to go on but I find it pretty amazing that you use Spark, but when your doing a trade you only watch the depth.

LOL, I mean you are paying about 150 a month for that are you not? So just curious to what other features are you using on the prog besides depth :p

stone small green

30-01-2010, 01:58 PM

SSG, mate sorry to go on but I find it pretty amazing that you use Spark, but when your doing a trade you only watch the depth.

LOL, I mean you are paying about 150 a month for that are you not? So just curious to what other features are you using on the prog besides depth :p

DF,
I'm still trying to learning to features of spark, for some reason, I don't really find the intraday chart that useful, as the indicator don't work as they should be to some extent.

Personally, I am begaining to doubt the usefulness of technical indicator for intra day, in a way that reflects psychological behavior of traders. So from the past 2 weeks, I find the depth, not just the information of buyers vs sellers, but the activity in real time really helpfully.

I guess I have to combine this with some other indicator to achieve the optimum result. Just don't know what yet.

Btw, do u happen to know anything about metastock? it seem to be a awesome software, although it's not design for simple traders like us.

SSG

drillfix

01-02-2010, 04:54 PM

SSG, registered for the Demo of Spark.

Got the email from them and then downloaded the app,but after installation which went fine, I run it and it crashes my computer, gives me BSD every time.

Tried running is as administrator and also with XPsp2 compatibility and it still screws up on me.

Back to your other question, Yes Metastock is great, upon a simple interface is a Plethora of tools and settings along with nearly everything else you could probably want.

There is a Realtime version and EOD (end of day) verison, but either way a good app with Industrial Strength provisions. I would say ask Phaedrus to comment more as he would be the Master no doubt with Metastock.

Metastock is elegant, but I dont like having to keep a database of stocks to maintan, perhaps others can elaborate on that.

I have a previous older verison of Metastock but never really stuck with it along with another small program called Ami Broker which is quite a flexible little app along with yet another one called

There is another called Omni Trader which too can provide a great deal of flexibility and like the rest provides a backtesting function which if your gonna pay for a proggy as such, then I would recommend that the program have that function for future needs. (again ask Phaedrus about that.)

There are quite a few other ones, and I could go on ALL DAY talking about which, where and why but I haven't been much of a chart man in the past while to be honest (Besides short term charting with IRESS).

There also is subscription Software which is pretty industrious as well. Best to just google the names and you will see accordingly.

Some of the more Industry ones would certainly be:

Market Analyst
Profit Source
Tradecision
and of course what I have mentioned above already Metastock and OmniTrader

The above are a collection of Kick@ss incorporated so a study into cost, function, your needs and your goals and direction and lets not forget budget would need to be undertaken.

The next part of the chapter is DATA, where? from who? how much??

Well, again, depending on what you trade, what you plan to trade and what instruments or execution platform you are seeking, this also comes into the equation.

There are various classes of data providers and personally, I dont wish to get into that right now as that can be a mamoth subject in its own right.

With regards to some of the more free, budget, not so costly charting I have done another post somewhere in the upper section in the forms which was a reply to somebody whom seems to have not come back to ST since by the looks of his profile.

Strange that, someone asks a good question, they get a good or better than expected type of reply and you never hear or see them again.

Well ssg, for now, I hope this answers a couple of your questions mate.
Enjoy :)

stone small green

01-02-2010, 05:12 PM

thanks for your wordy answer, really appreciate that DF
those software it probably what I will get when i'm ready for US stock market

Just saw the ann of GCN talking about merger, that seem to be interesting, as it will turn to be the auz largest, but no one seem to be interested in it.

Like usual, There was a few rush today, but too bad I was busy trying to get out of sma which I failed to cancel at open.

hope tomorrow would be better
ssg

drillfix

01-02-2010, 05:25 PM

And also with approx costs (USD I think) and links:

http://www.tradecision.com/
Approx $1,995.00

http://www.profitsource.com/
Approx $4,010.00 (includes 1 yr data)

https://secure.market-analyst.com/store/Charting-Applications.html
Approx $49mth - $199/mth
Screens: http://www.market-analyst.com/screenshots.html

ps: I have no affiliation with the above, but wouldn't mind finding myself using them.

drillfix

01-02-2010, 06:09 PM

thanks for your wordy answer, really appreciate that DF
those software it probably what I will get when i'm ready for US stock market

, but too bad I was busy trying to get out of sma which I failed to cancel at open.

hope tomorrow would be better
ssg

ssg, are you still in SMA ??

Mate, I thought you said you were out of that trade?

stone small green

01-02-2010, 08:37 PM

ssg, are you still in SMA ??

Mate, I thought you said you were out of that trade?

yeah, I got out on friday,
was tempted to go back in, try to cancel my order when I saw the depth change at 10:07am, but I was one sec slower...;)
wish I had hot keys

well, at least I managed to minmize my loss.
ssg

stone small green

01-02-2010, 08:41 PM

I think a successful daytrader only need to spend 1 hour trading,

drillfix

02-02-2010, 11:59 AM

I think a successful daytrader only need to spend 1 hour trading,

Hmmmm, ssg, I dont believe there are no set rules for the time a trader trades, but if you wish to think this then time will give you your answer.

stone small green

02-02-2010, 12:33 PM

...I don't why SMA is flying today after the dump yesterday

STRAT

02-02-2010, 12:51 PM

...I don't why SMA is flying today after the dump yesterdayHi Stone Small Green

The dump was panic induced perhaps? Bad day all round

The collective number of traders ( volume is low )

I like to think of it this way. Big movements on small volume is not reliable info just like doing a survey but only asking 3 people the question. The more people that are involved the more reliable the signals.

Notice the up day before yesterday was 10 time the volume of yesterdays dump.

The day to be in was the day before that eh? :D but that would require a new thread. We could call it the day before Intrday runners. Now that would be a cool thread

stone small green

02-02-2010, 01:53 PM

WDS was bit of a play too.
hit the low just after I went to lunch....what a shame.

A boring day for me...

drillfix

02-02-2010, 02:01 PM

Took a small hit on WDS, in and out within 1 minute.

heading back down by the looks of it.

STRAT, lol, agree with AA, yes the Day before thread would be a good heads up, but there is enough coin flipping going on already on a day like today.

STRAT

02-02-2010, 02:08 PM

Took a small hit on WDS, in and out within 1 minute.

heading back down by the looks of it.

.Dude thats Kung Fu.

Talk about catching falling knives and all that.

drillfix

02-02-2010, 02:11 PM

Dude thats Kung Fu.

Ummmm, Huh??

Will need to check up on my Martial Arts indicator to see what that means :rolleyes:

STRAT

02-02-2010, 02:14 PM

Ummmm, Huh??

Will need to check up on my Martial Arts indicator to see what that means :rolleyes:Sorry Drillfix. Not graphic enough. You know the scene in every other Kung Fu Movie where the guy catches all the falling knives and throws em back.

drillfix

02-02-2010, 02:18 PM

Sorry Drillfix. Not graphic enough. You know the scene in every other Kung Fu Movie where the guy catches all the falling knives and throws em back.

Nope, dont watch a great deal of TV there STRAT.

WDS seemingly heading back up.

Maybe I should have held on for 5 minutes more hey..;)

ps: I need to learn patience, but sometimes patience has cost me money from not reacting too.

pps: Strat, LOL, ok ok I get it, you have bit of a gift there with all your pictures :)

moimoi

02-02-2010, 03:46 PM

ROL...may have already had its intra day movement...up 25%

stone small green

02-02-2010, 04:03 PM

I'M GOING to have a crack at AXM

stone small green

02-02-2010, 04:05 PM

oh dear..I missed..so I will cancel my order

scorp57

03-02-2010, 11:37 AM

any suggestions for today?

VIL looks to be in a nice uptrend?

stone small green

03-02-2010, 12:00 PM

keep a eye on anp

drillfix

03-02-2010, 12:03 PM

ANP is quick off the mark, over double on open

stone small green

03-02-2010, 12:14 PM

miss at open......did follow as there was a hugh lag buyers vs sellers

drillfix

03-02-2010, 12:49 PM

TRF in @ 87c

Not going to sell if it goes against me like I have done the last couple of stocks. May hold for a swing trade this time.

ScrappyO

03-02-2010, 01:12 PM

miss at open......did follow as there was a hugh lag buyers vs sellers

Same here tried for 7.5....didnt want to chase this one i didnt think the ann was worth it.
i see it is 9.2 now.PHEW

stone small green

03-02-2010, 01:42 PM

obj seem to be a good short term buy from the charts.
stochastic has crossed. volume increased...

I'm not going in as it's time consuming.
be good if u wanna stay in there for about 3-5 days.

ssg

dragonz

03-02-2010, 03:04 PM

TIS is looking good for a swing trade. Might be worth keeping an eye on the 22.5 sell and snapping up the last 100,000 as its an easy run to 24.5. I still hold from last week and decided to hold longer term. 27 is my target but might adjust up or down depending on the what the sellers do at the 25 and 27 mark. Looking quite bullish the last couple of days. Another positive announcement will push this past the 30 cent mark but this isnt expected until Sept.

COLJAY

03-02-2010, 05:42 PM

ADO has had a good run with volume today. Looks like clocing solid.

drillfix

03-02-2010, 05:47 PM

shasta

03-02-2010, 05:51 PM

drillfix

03-02-2010, 06:16 PM

Well spotted Drillfix

Another reason why brokers are a waste of space :D

Well, if they are not F#n you over finacially they are probably F#n the love of your life so watch out for them.

Joke.

Q: How do you know a broker is lying??
A: He opens his mouth

Q: How do you know a politician is lying?
A: He acts like a broker

Q: Why did the politician cross the road?
A: To talk to his broker

Ok enough, boring :rolleyes:

marknz88

03-02-2010, 06:46 PM

Did anybody watch the Ch7 news last night?

Had Macquarie Broker talking and in the background there is a dude watching porn.

Here is a close up version from YouTube

http://www.youtube.com/watch?v=xhIu7qp5vo8

Hardly porn haha. The photos are from GQ magazine, no naughty bits blatantly visible and were plasterd all over the aussie news websites last week. Hope he didnt lose he job over it.

That moment is golden when the penny drops that hes on tv hahahahaha

soulman

03-02-2010, 07:45 PM

TRF in @ 87c

Not going to sell if it goes against me like I have done the last couple of stocks. May hold for a swing trade this time.

Looks like TRF will fall for profit taking soon, unless the street keep up the green momentum. I bought in the 60's and sold in the 60's. What an amateur!

You took the profits over 90's today Drill?

stone small green

03-02-2010, 07:45 PM

speaking of porn, have seen that in a long time...
busy trading.
maybe I should become a banker.lol

ssg:eek:

drillfix

03-02-2010, 11:15 PM

Looks like TRF will fall for profit taking soon, unless the street keep up the green momentum. I bought in the 60's and sold in the 60's. What an amateur!

You took the profits over 90's today Drill?

Nope didn't actually get in until after that run soulman.

That happened on market open upwards, when it came back I waited and then thought it would test it again and I only really got in to what I call a half position to test the water.

I think TRF kinda tracks IFE and ROL. So if ROL starts to run or IFE then suddenly TRF will take off with it or just after. Same things happens in reverse.

This stock goes up and down like a yoyo, Im not too far from the mark for a small profit or small loss. As long as I keep any losses small then it aint too bad.

What is bad is if one sits like a Rabbit on the road staring at headlights in a trance. Now that is bad.

Congrats on your trade, well played, and the best time. No need to kick yourself over that. I did the same thing the other day in a trade and got out as soon as it went against me, (stupid but safe, too safe) and then same stock is up another 20+ cents today.

Currently approx 70%ish cash out so can cope with any small ups and downs.

Any planned trades for tomorrow? (int markets pending)

STRAT

03-02-2010, 11:20 PM

Nope, dont watch a great deal of TV there STRAT.

WDS seemingly heading back up.

Maybe I should have held on for 5 minutes more hey..;)

ps: I need to learn patience, but sometimes patience has cost me money from not reacting too.

pps: Strat, LOL, ok ok I get it, you have bit of a gift there with all your pictures :)well well Drilly, Daggers do bounce after all :eek: 84c close today. Theyd make a lousy basket ball though.

drillfix

03-02-2010, 11:38 PM

gazprom1

04-02-2010, 08:00 AM

Well Strat, all I can say is that at least I openly share what trades that I have made with the thread, be it Dagger catching or not.

Now I know you mean well, but if you would prefer that I dont say anything about which trades I do and only post "feel good profit trades" then I can do that too.

To find and try other trading styles in order to find my own style that works for me means sometimes we dont mean to catch daggers but we do. Its when we dont learn or profit from them is when we know its time to either change or move onto to something more suitable.

Hey DF,

Your posts are excellent and it is all a learning whether you are a pro or not.

I managed to get int CXY a couple of days after it came out of its trading holt and was in and out for a 0.2 cent profit per share. Also managed to get in and out of GGP y'day for a 0.2 cent profit. Still riding GCR (in at 2.4)...waiting for some news!!

No ideas yet. I see the markets are mixed to down!

Gaz

STRAT

04-02-2010, 08:22 AM

Well Strat, all I can say is that at least I openly share what trades that I have made with the thread, be it Dagger catching or not.

Now I know you mean well, but if you would prefer that I dont say anything about which trades I do and only post "feel good profit trades" then I can do that too.

To find and try other trading styles in order to find my own style that works for me means sometimes we dont mean to catch daggers but we do. Its when we dont learn or profit from them is when we know its time to either change or move onto to something more suitable.No offence intended Drillfix. I was contemplating having a crack myself but chickened out. Please keep em coming. Your up front and open disscussion on your plays both short and long are well appreciated.

stone small green

04-02-2010, 10:04 AM

ANP could have a small run today, as most of the buyers are in loss from yesterday.
My guess it could run for about 10-20% no more than 8c.

ssg

drillfix

04-02-2010, 11:39 AM

No offence intended Drillfix. I was contemplating having a crack myself but chickened out. Please keep em coming. Your up front and open disscussion on your plays both short and long are well appreciated.

Strat, your alright mate. Im just a bit jittery at times and need to build confidence as much as I can.

Forums like this take a bit of loneliness out of a trading day and can let you see moves and ideas others are doing which is good, BUT it can also twist your head at times because we can 2nd guess ourselves and when I think about whether I have caught a dagger or not does not quite inspire me when I am meant to be thinking the stock that I have bought, is going to rise and I am going to get out the next day (today) and profit.

Gaz,
Glad you got a quick little profit from CXY, good one.

Lets see what today brings anyways.

drillfix

04-02-2010, 12:28 PM

ANP could have a small run today, as most of the buyers are in loss from yesterday.
My guess it could run for about 10-20% no more than 8c.
ssg

Good luck with that one ssg.

I closed my position on TRF near open for a tiny profit.

I feel there are many propped supports yet many genuine sellers.

There could be another sudden surge today but dont care. Look for IFE or ROL doing a run and then TRF will follow.

For me, I think I will not trade today and hit another seminar and do some further study. Some times the best trade is No Trade.

dragonz

04-02-2010, 12:30 PM

AVX might have a bit of a run. Better to wait until 1st fall back in case its a dump.

drillfix

04-02-2010, 12:47 PM

stone small green

04-02-2010, 02:28 PM

Sheezes guys, Im sorry, I just jumped into CFE as the news of atheir Q copper IPO has been deferred so thus dropped the SP.

So why not try to cash in on a bit of disappointment before some study hey. :rolleyes:

But at least I am upfront
in at 45.5c for a quick scalp and sell order @ 48.5c

If nothing happens then I will hold overnight (again) as CFE is still a great hold, IMO.

Speaking of catching falling knives!
good luck with that one DF.
Was tempted to buy KAR at opening, but no, as it's too high in price
it had a pretty good rebound, I was surprised.

I guess the theme of the day is BML.

ssg

marknz88

04-02-2010, 03:26 PM

Speaking of catching falling knives!
good luck with that one DF.
Was tempted to buy KAR at opening, but no, as it's too high in price
it had a pretty good rebound, I was surprised.

I guess the theme of the day is BML.

ssg

I was eyeing KAR's opening match price of 451 but didnt have the balls to get in on it...dam did it bounce good in the first hour

Ponda

04-02-2010, 05:20 PM

DF (or anybody else)
Do you know if an 'at market' order takes precedent over a 'fixed price' order?

ie. If a co goes into a TH and there are sellers in the queue at say 12 cents, a good announcement comes in and the buyers start up-ing the buy price. Will my order 'at market' buy some of those in the queue at 12 cents (assuming that whilst I am in the 'at market' order there is sufficient shares so that my order gets hit)

Hope that makes sense. I am trying to find a way so that I am not left chasing a share that keeps moving away :rolleyes:

drillfix

04-02-2010, 05:34 PM

Ponda, I dont think the example with the TH will affect whatever is happening.

If you notice any stock, if the stock is marked as sensitive the stock goes into what is known as Pre-Open.

With pre-open it turns into what is like an auction bidding system.

So depending on where and when an "at market" is, will depend on your answer.

In short, if a stock is selling at 15c and bidders are at 14.5c and then news comes and suddenly the stock goes into a pre-open condition, some folks will bid up to say 18c, 19c and say even 20c etc but an at market order may still be at 15c recorded last order.

I could be very wrong with this, but why I actually state this is because at the end of the day close on a certain stock, I put an at market order in and the other stocks who were bidding seemed to get OUT first, which really pissed me off because I thought I would have been first cab off the rank, and I was not.

Best to check the ASX website, but I believe what I have told you is right, but I have also been known to be wrong too :rolleyes:

Hope this helps.

Ponda

04-02-2010, 05:45 PM

Thanks for that DF,

I will have a look on the website and see if I can make heads or tails out of it.

Cheers,

Ponda.

PS I'll post on Strats thread but keep an eye on EMS :)

drillfix

04-02-2010, 06:20 PM

soulman

04-02-2010, 06:28 PM

No worries Ponda,

With regards to my dagger catching, got out of CFE on close for a small loss.

Hmmm, 1 winner 1 loser today, all that work for zip and another lesson to add to the diary.

Now back to the seminar folks.

have a nice day :)

How much is your brokerage Drill? Cheap, cheap? Are you trading CFDs or normal online trading?

Nice sell on CFE as I got a feeling that CFE will fall into the 30's in the not too distant future.

drillfix

04-02-2010, 06:44 PM

How much is your brokerage Drill? Cheap, cheap? Are you trading CFDs or normal online trading?

Nice sell on CFE as I got a feeling that CFE will fall into the 30's in the not too distant future.

Hi soulman,

Nahh, I dont trade CFDs Im with commsec and using webIress.

How about you, who you with and which platform?

To be honest, Im thinking about other instruments but have been currently researching other options of trading different instruments.

Don't care much if CFE goes up or down, I felt that I can get a good night sleep by being out, but there are many other stocks on the watch and hit list with a "Market Conditions Pending" notice attached to them.

Win or Lose, by doing some of these trades though I'm gaining more exposure to trading which is also going to help me smarten my act up, if you know what I mean.

Have recently done a demo of Interactive Brokers (IB) platform and man let me tell you, its huge (configurable preferences) and it also allows for hotkey buys and sells which IMO, one really needs to survive in some of these type of trading situations.

ps: CFE potentially 32c ?? yes I would agree should the support at 43c get broken.

soulman

04-02-2010, 10:07 PM

I am with Westpac. $24.95 per trade. Not sure of the platform. Yours $19.95?

I am so certain that CFE will drop a few tomorrow that I am willing to bet a carton of coke on it.

drillfix

04-02-2010, 10:59 PM

I am with Westpac. $24.95 per trade. Not sure of the platform. Yours $19.95?

I am so certain that CFE will drop a few tomorrow that I am willing to bet a carton of coke on it.

Yep, commsec $19.95

Is your platform called Traderpro ?? and does it look like this?

http://toolbox.westpacinfo.com.au/westpacbroking/images/traderproscreen.jpg

If so it is webIress. They are all just Rebranded so when a user logs in it has the colours or template of your own brokers marketing.

The majority of brokers in Australia are, and have, and will move to webIress.

There are different rates via different brokers, some give free access after X amount of trades, some just charge X fee and have low brokerage.

The problem I find are as follows and I am totally in shock to find that nobody else that I know of, seems to care about this which is Trading Hotkeys.

As in, Trading Hot Keys with custom values ie: F1 Buy, F2 Sell, F11 Short, F12 Cover

It also needs to add more viewable data for charts (only 12 months)
I find it needs a few more charting indicators as well.
I am also experiencing bugs with the platform, as in I type in a wrong code and all it resets the chart and all my indicators go missing on that chart and the quick way to reset that is to Restore the saved Layout. But then the problem with that is everytime you do that, it expands some of the indicators and pushes the the data off the chart to the very top and I need to reposition each chart with indicators. Very Frustrating.

Back to CFE,
So you reckon there will be a fall tomorrow hey??

Well, to be honest, IMO it will depend on where US markets and our futures close.

If the US decides to tank a bit, we could see CFE support broken and your previous call of 32c will be on the cards (eventually imo). But if it holds up, I reckon folks will realise there has been an over reaction and there may be a bounce to this oversold stock.

Carton of Coke, wow, that would last about couple of months...lol :p

drillfix

05-02-2010, 03:00 PM

Anybody got steel mesh gloves on today for catching so called daggers?

Just sitting on the sidelines today being a spectator.

Pitty about not being able to short more stocks than the listed ones.

How about CFDs, anybody trading them? Those shorting them surely will be cleaning up, IMO.

soulman

05-02-2010, 03:33 PM

Carton of Coke, wow, that would last about couple of months...lol :p

On today's market drop, that carton would be finish by now.

Well done on your exit yesterday, on both TRF and CFE.

I have done some good exit but not enough. I have no exposure to the big coy except for MTS (bought just this week). No one should really be nervous in this downturn. We have all seen the action of 2008 and it's gonna take some brute to beat that fall. For eg, today's fall was like a regular back in Jan 2009, if I can remember correctly.

drillfix

05-02-2010, 04:43 PM

Anybody got a Scanner to check out which stocks appear to be oversold the most?

I get the feeling there will be no bounce and the market will finish close to where we are now after the drop, flat.

Confirmation is the key here for either way.

To me, any further buy or sell is like a flip of the coin, a gamble. Like anyone, I want to swim with the tide, not against it, so pending on how the US close goes, the ASX will take its lead accordingly.

Temptation right now is rife, personally I would rather pass on gambling and execute discipline and refrain from thus stand off of "destination unknown".

In this instance bounce or fall equals Heads or Tails here. Think I will make the call after the coin has dropped.

drillfix

05-02-2010, 04:55 PM

What Timeframe Drill?

One day is here

https://www.asbsecurities.co.nz/markets/mstemplate.asp?exchange=ASX&report=toploss

for longer timeframes i can do this as well, via the ADX indicator, which is really just a reading of price expansion in a particular direction

AA

Cheers AA, will take a peek.

Still a bit weary of jumping in anything but it seems the 10 min XAO is moving upwards, bounce maybe?

Lizard

05-02-2010, 07:00 PM

drillfix

05-02-2010, 07:26 PM

Anyone interested in BLT:ASX? I've followed for a while but don't hold. Might be good for intra day trading watchlist though.

Good announcement today might have seen a few trades, although liquidity sadly not as good as it once was. Has some potential regarding IP, but it's a bit of a stab in the dark on the non-expert FA. I'd like to see a log chart, as probably need that for TA.

Hi Liz,

Yep, we here in intraday are interested in anything that moves and that gives us an opportunity to have a crack at putting out hand in the cookie Jar without it getting cut off~'

Here is a chart with some indicators.

http://i50.tinypic.com/254vtxz.gif

I dont mind the Biotechs but you gotta be quick with them.

Good news actually, but look what happened (in chart). You would not have wanted to be the person buying in over 8c and thus volunteering to be a long term investor in it. Need to be careful with some of these biotechs.

There have been a few others mentioned on here and HC where things have really powered on, but again when you are trading against people who buy and sell with only a click of a button, it can become hard, unless you have the full power oft market and liquidity behind the stock being bought.

Keep em coming, though a pretty fragile time and a time to be more defensive than agressive, IMO.