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not a bad call nioka. 5% move in 20 minutes - are you going to dump out now in case the market pulls back this afternoon?
Buy on Friday, sell on Monday
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Trembling Hand
Can be found on the bid
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My points about R:R are vindicated by the size of the rise.
But yep well done your green today.
But yep well done your green today.
chops_a_must
Printing My Own Money
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On what? ADI?
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It might be a great suggestion but I guess it's a try to catch a falling knife situation. Your buy on a particular day and sell on a particular date theory, is that based on any statistics for the time of month of the year or just because you saw the market oversold? Yes congrates on picking the right direction today but what is your expectancy over a longer period based on this system?
regards
Paul
regards
Paul
In the past I have noticed that if Friday is a bad day then the following Monday is usually a good one. I then look for stocks I think were oversold, have good fundamentals and put in a few buy orders at a low price. 3pm to 4PM is a good time to buy on a Friday. I then put in sell orders to make better than 5% for the Monday. If I havent sold by midday then I decide whether to hold or reduce my sell price. It works on most occasions.
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Nioka, what time did you buy on Friday?
If you got in long at 4.25pm you would have had to endure a range of over 200 points down and only around 60 up over the weekend.
How did you sleep??
If you got in long at 4.25pm you would have had to endure a range of over 200 points down and only around 60 up over the weekend.
How did you sleep??
Nioka, what time did you buy on Friday?
If you got in long at 4.25pm you would have had to endure a range of over 200 points down and only around 60 up over the weekend.
How did you sleep??
Most orders went in around midday. Always sleep OK. I only use money that I can afford to lose a little. Didn't count on losing any, expected to make about 3% probably the result is double that. I do this on a regular basis, about once a month. Bull or bear the same thing seems to happen. Often my orders to buy dont get filled because I try for bargains.I think by Friday there are more willing sellers than most days and Monday there are more willing buyers.
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Smells a bit like technical analysis to me...
Except for the fact that all my buys are done on a fundamental analysis basis. I only buy when I feel they are oversold on the day.
13/10/08 Re: Buy on Friday, sell on Monday
I hate to say it but I told you so.
Buy into a company with strong fundamentals and you are a trader.
Buy into a MARKET and you buy into speculation and mass hysteria
At least Warren Buffet has the balls to put his money where his mouth is
We needed confidence in the market worldwide
Who would you listen to WB or George Bush?
At least Kevin Rudd has the balls and brains to bring confiedence to our market by insuring our savingssand the Opposition has the common sense to support him.
I know this may sound simplistic.
People have told me that the market feeds on greed and fear
In my short 30 months of trading I never saw an example of the mass hysteria of last week.
How about the 1500 points trading range on the Dow on Friday 10/10???!!!
Jeffish
I hate to say it but I told you so.
Buy into a company with strong fundamentals and you are a trader.
Buy into a MARKET and you buy into speculation and mass hysteria
At least Warren Buffet has the balls to put his money where his mouth is
We needed confidence in the market worldwide
Who would you listen to WB or George Bush?
At least Kevin Rudd has the balls and brains to bring confiedence to our market by insuring our savingssand the Opposition has the common sense to support him.
I know this may sound simplistic.
People have told me that the market feeds on greed and fear
In my short 30 months of trading I never saw an example of the mass hysteria of last week.
How about the 1500 points trading range on the Dow on Friday 10/10???!!!
Jeffish
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Fare enough. In this market environment, I guess you can look for oversold [Volume is Important] stock with good funny-mentals for a quick trade. Thanks for the expansion, it now makes more sense what you are saying.
paul
paul
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I have the utmost respect for TH posting. ( and chops)
His opinions are amongst the most accurate on ASF
But i am confused.
I thought ramping was the practice of saying good or bad things about a particular stock, without sufficient evidence, with a view to encouraging others to buy or sell, then attemting to use that movement for ones own profit.
I cant see that Nioka has done this, he has put forward his own general strategy, that irrespective of the correctness or possible danger, does not seem to be in any way construed to personally profit at the expense of others..he is to small?...unless his trades are in the millions?
I mean absolutely no offence to anyone by making these remarks, and would be most pleased if someone could set me straight on this
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what's your theory on Friday 13th (Black Friday).
Wouldn't make any difference to me.
ASF is a forum for the interchange of ideas and information. It is a very good one and Joe is to be congratulated. Nobody contributing has a mortgage on ideas and everyone should be able to have their point of view.
Any information that I give is based on my experience and my beliefs. I don't trade in millions but I do trade and invest enough to be comfortable in retirement. I am not right all the time. Anyone that has never made a mistake has never done anything.
I like to think outside the square. I hope I can make a usefull contribution although I do get (and accept) plenty of flack at times.
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I actually thought your theory was a good one , especially today , however I don't know what you are bleating on about at the moment . I am old school , if I ask a question , I am after an answer , I was by no means taking the piss. If it works , good on ya but Generation Y new age sensitive comments don't work for me.
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Funny but Nioka is not a Gen Y!
And direct answers are better than avoidance. I agree here with you seasprite.
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Hello Nioka,
Based on the availability of hindsite you have done well.
Your comment at the bottom which is italicised, bolded and in red, gives me some reason to have a fit of cognitive dissonance. In another thread today you said you are biased. Isn't this representative of "I don't know what I stand for?"
Have you got any statisitics for the buy on Friday sell on Monday strategy of yours?
Cheers..
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Noika, nice one. I had mentioned in the 4th post of this thread that i do the same thing and agreed with you. Where are the guys who bagged you?
I went all in Friday, and nearly all out Monday. And that was not the first time either. I agree with your theory because its been working for me. All those who called it ramping can sit in the corner, no ramping there at all. Not one stock was mentioned......i dont think.
I went all in Friday, and nearly all out Monday. And that was not the first time either. I agree with your theory because its been working for me. All those who called it ramping can sit in the corner, no ramping there at all. Not one stock was mentioned......i dont think.
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Do you have charts? It's all there. Go and have a look. If you like i can spit out a detailed report of my last three or 4 weeks of friday/monday trades.
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well I bought FMG on Friday at the close 2.68 with a very tight stop...I could've sold on Monday but averaged up at 2.80.....Yesterday I adjusted my stop to 3.70...Shortly after the open today I tried to sell them at 4.15.....I was looking at a $10000 profit or thereabouts.....But because of stupid Westpac I couldn't place the order..I tried to phone through the order but couldn't get through...I just sat there watching the price drop until my stop was triggered........Well I am glad I moved my stop up because I still made a good profit...but it was very frustrating
So yes buy on Friday sell on Monday worked for me because I took a small position first up and then added to it......But I calculated how much I was prepared to risk first and as soon as the position was filled put on a stop loss...
If you try and trade in this market without first calculating risk and using stops you could lose a lot of money...
So yes buy on Friday sell on Monday worked for me because I took a small position first up and then added to it......But I calculated how much I was prepared to risk first and as soon as the position was filled put on a stop loss...
If you try and trade in this market without first calculating risk and using stops you could lose a lot of money...
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