Hi All,
I recently joined the ASX Game and started trading late February. I am doing pretty bad, I am toward the end of the list (while most people made at least $100, I lost about $100). Now, the thing, there are some people in the top 100 who already made over $3000-$4000 in the game, and that is in less than 3 weeks. Even this is just a game, some people appear to remain consistently in top 100, so it is not just pure luck they got there. The advice from ASX is to invest in sound companies and look for dividends. While this may be probably an excellent advice for novice investors, most likely none of the top 100 players applied only this single strategy. I believe they have a strategy, based on a set of conditions or something like that. I found out on my own skin two conditions which somebody must NOT do - don't buy low values - I started buying just $2000 worth of shares and I soon found that amount is too low - the broking fee eats too much from the expected profit. Second condition is - do not select a list of stocks, put them on the buy list and forget them there. At the moment the market is rising and I have virtually no chance to buy the stocks at the buy price I set. I'd appreciate to hear from people who are playing the game and they are in top 100 (even if that happened for only a few days) what they are looking for. I am trying to see if there is any consistent correlation between buying under the lower Bollinger band, etc. I am afraid that if I apply this strategy, to select multiple stocks and place a buy order when the price gets under the lower Bollinger band, I will lose all the companies that go up and I will be left with the ones that may not perform so well. Should I rather buy a company that reaches the top Bollinger band the previous day? Or one that reaches a new high price in the last x days or y months? Are there any indicators that are even relevant?
Thanks,
Nick
I recently joined the ASX Game and started trading late February. I am doing pretty bad, I am toward the end of the list (while most people made at least $100, I lost about $100). Now, the thing, there are some people in the top 100 who already made over $3000-$4000 in the game, and that is in less than 3 weeks. Even this is just a game, some people appear to remain consistently in top 100, so it is not just pure luck they got there. The advice from ASX is to invest in sound companies and look for dividends. While this may be probably an excellent advice for novice investors, most likely none of the top 100 players applied only this single strategy. I believe they have a strategy, based on a set of conditions or something like that. I found out on my own skin two conditions which somebody must NOT do - don't buy low values - I started buying just $2000 worth of shares and I soon found that amount is too low - the broking fee eats too much from the expected profit. Second condition is - do not select a list of stocks, put them on the buy list and forget them there. At the moment the market is rising and I have virtually no chance to buy the stocks at the buy price I set. I'd appreciate to hear from people who are playing the game and they are in top 100 (even if that happened for only a few days) what they are looking for. I am trying to see if there is any consistent correlation between buying under the lower Bollinger band, etc. I am afraid that if I apply this strategy, to select multiple stocks and place a buy order when the price gets under the lower Bollinger band, I will lose all the companies that go up and I will be left with the ones that may not perform so well. Should I rather buy a company that reaches the top Bollinger band the previous day? Or one that reaches a new high price in the last x days or y months? Are there any indicators that are even relevant?
Thanks,
Nick