35854 replies to this topic

[Hit & Run]

Click on the down arrow next to your name in the top right hand corner

Click on my settings

Set your Time Zone to GMT +2 South Africa

 

AJS, check your PC, I am also in JHB - does yours shoe same time?

[AJS]

AJS, check your PC, I am also in JHB - does yours shoe same time?

 

Mine shows his first post at 09:00 and the second one at 09:18....

[OceanWalz]

AJS, check your PC, I am also in JHB - does yours shoe same time?

[Beorn]

Closed @ 34560

[Beorn]

Long @ 34506

[Argento]

Learn guys learn. Wonderful piece of info  for traders from A

[AJS]

system problems with Sharenet? on www.sharenet.co.za Argento's last post is timed to be at 9.18am and this same post on Sharechat is 7.18am - or is it just my PC?

 

Probably your time zone settings on the forum?

[OceanWalz]

system problems with Sharenet? on www.sharenet.co.za Argento's last post is timed to be at 9.18am and this same post on Sharechat is 7.18am - or is it just my PC?

[Lekkerry]

Ok, we hit yesterday's PM low, so from here I reckon ALSI will go up...

[Argento]

We will go with them, but remain in that intermediate downtrend, in May everybody should come down!

 

Q3 in the system is altering most of the projections!

 

A

Thanks A.

 

S&P @ 1640! And I thought a couple of days ago the year-end predictive mark of 1590ish was a push (based on some bigshot name analyst)! What is the chance the US goes this one alone? 

[Lekkerry]

Thanks A.

 

S&P @ 1640! And I thought a couple of days ago the year-end predictive mark of 1590ish was a push (based on some bigshot name analyst)! What is the chance the US goes this one alone? 

 

A good hint...in downtrends the markets tend to shoot up in the morning (first 30 min of trade) and come down during the day, dumb money buys/sells in the morning and the bigger guns at the close..

 

Today the market started down and should crawl back into the green today, that shows you a trend change took place (short term)!

 

The AD indicator gave a strong buy signal on the SPX yesterday with counts to 1640ish..

 

A

[HDB]

Learn guys learn. Wonderful piece of info  for traders from A

 

A good hint...in downtrends the markets tend to shoot up in the morning (first 30 min of trade) and come down during the day, dumb money buys/sells in the morning and the bigger guns at the close..

 

Today the market started down and should crawl back into the green today, that shows you a trend change took place (short term)!

 

The AD indicator gave a strong buy signal on the SPX yesterday with counts to 1640ish..

 

A

[OceanWalz]

Thanks for good post ShortBoy - esp for me the "If it's not reasonably clear about what bias the market is in on any one day, dont take a position in it. I used to play it whatever - expensive mistake" -

by the way , what link did you get to read the e-book from - the wiley publishers link says it is not available in SA

[Argento]

A good hint...in downtrends the markets tend to shoot up in the morning (first 30 min of trade) and come down during the day, dumb money buys/sells in the morning and the bigger guns at the close..

 

Today the market started down and should crawl back into the green today, that shows you a trend change took place (short term)!

 

The AD indicator gave a strong buy signal on the SPX yesterday with counts to 1640ish..

 

A

[Hit & Run]

If A is correct with his 1000+ points to the upside I will rather buy the dips. We only made up 400 points to date there should be more.

But as they say if the market does not go up from here it will go down.  

 

This was a nice rally, to short perhaps? Hmm, me thinks today's 100 points could be with a short. Opinions?

[Hit & Run]

When I take a loss (reduce my number of contracts) I always let the contract with the smallest financial loss go 1st. (Least expensive) 

 

 

Chucked my most expensive short. Maybe there will be a spike down opportunity ito the other one.

[Lekkerry]

This was a nice rally, to short perhaps? Hmm, me thinks today's 100 points could be with a short. Opinions?

[Plasma]

Siting here contemplating whether to cut my shorts. IG markets currently at 34 389. Seems there is positive sentiment all over. The east is happy, everybody is happy. In terms of Argento's prediction, another +- 1000 points. Perhaps cut and ride the wave up and recuperate the losses, than retaining the shorts and waiting to come back down here some time in the future.

Chucked my most expensive short. Maybe there will be a spike down opportunity ito the other one.

[zoner]

Zoner, you happy now?

 

Very happy    . Starting to recover my losses (carefully this time) 1 step at a time.

[AJS]

To the "wannabee traders"

 

I made just enough to buy some biilies and some champers today (hope you did too!), not because I was lucky, but because the market was kind enough to yield a fairly reliable trend that made it a medium probability trade ....for today! 

 

If anyone is interested in limiting their losses, tired of getting whipsawed at exactly the wrong moment, playing the right size and dealing mainly when there is a medium to high probability potential result at stake, read, trade (in miniscule amounts for the new guys like me), and digest what Greg Capra has to say in his book Trading Tools and Tactics.

 

I have no idea who this dude is (found it on Amazon) but so far his advice on trade set ups and scenarios we see every day makes sense AND seems to work - except in sideways markets in which I no longer speculate.  

 

What works for me:

If it's not reasonably clear about what bias the market is in on any one day, dont take a position in it. I used to play it whatever - expensive mistake;

 

Using higher time frames to understand the big, sudden and unexpected changes that occur in small time frames that used to knock me out or I would enter/exit is hugely helpful - I never looked at the bigger time frame before entering or exiting the small time frame - expensive mistake;

 

Placing a trade with the trend inside the small picture while maintaining a view of the big picture will keep you out of the game a lot of the times you would probably have got into the game...but shouldn't have - reduced number of trades, reduced number of losses and reduced number of incorrect entries and exits - I was the exact opposite - expensive mistakes. 

 

I am still not making the kind of money I intended to make out of trading but the magnitude and regularity of losses I went through are a thing of the past now, thank G.d. 

 

I still get p..s.d off when I think about my 60k "school fee" I paid within my 1st 2 weeks of "trading", only to find that had I the humility to do so all the basic info and secrets relevant to being in this business are readily available in those things they call ebooks.

 

Understand though that reading is not enough. You must test what you have learned as you go and I guess like everything this takes time, effort, passion and commitment and above all MONEY!!

 

My goal is to become part of the global community where 10% of traders DO make money in this business....on a repetitive basis. 

 

Thanks for all your insights!!

 

Yeah, thanks for sharing your insights.... I think, as you said, to about 90% (maybe less) of traders, trading becomes a zero sum game.  At the end of the day it is not that easy (once again,  this is what I think ) to make a consistent "salary-type" earning from trading.  

 

For me, the real joy lies in analyzing and then applying... To "test" yourself against the market and if you "win", then hey, good for you. celebrate and be happy, but also humble enough to know that you are never bigger than the market and this game is far bigger than you.  Also the fact that I constantly learn... I love to learn and although "learning" here comes with a price ("school fees"), I think one should keep the bigger picture and the true reason why you are trading, in mind.  Yeah sure, money is one of the reasons I am trading, but luckily for me I make enough from my day job to make a living and therefore I think I can enjoy trading much more.  It will become a different "game" once I start to trade for a living I think.

 

Anyhow, enough "deep" philosophical talk on an empty stomach!

 

Have a good one people, keep it real!