Discretionary Trading Method-----Outliers Discussion Thread

[tech/a]

BLR MLS.----and PEN.

 

[nizar]

BLR MLS.----and PEN.

and OMC?
Broke above 90c into all time highs now.
Volume isnt special but its about 6x average.

 

[tech/a]

Only the three Nizar.

Cant keep a track of any more at the one time!

 

[ezyTrader]

Would be interested to understand the basis for your trade entries, esp. that there were a number of breakouts. How do you decide on which ones.

(a) Volume substantially more than previous day with HHs and HLs
(b) Identifiable blue sky and/or breakout from resistance level with not much near resistance in sight
(c) All three with a few months consolidation.

Possible entry points:
MLS: @breakout of 0.042-0.044 with support/initial SL @0.038/0.039
PEN: @breakout of 0.042-0.044 with support/initial SL @0.039/0.041
BLR: Not sure how to interpret this one. Would you be happy to discuss?

All three of course, exhibit the cup/handle formation. Well, a bit premature for BLR.
Would it be fair to say, a 5-10% gain with at least a few hundred trades is an initial start to look at these discretionary trades? Or, do you enter at open after weekend research?

 

[nizar]

Would be interested to understand the basis for your trade entries, esp. that there were a number of breakouts. How do you decide on which ones.


(c) All three with a few months consolidation.

Possible entry points:
MLS: @breakout of 0.042-0.044 with support/initial SL @0.038/0.039
PEN: @breakout of 0.042-0.044 with support/initial SL @0.039/0.041
BLR: Not sure how to interpret this one. Would you be happy to discuss?

All three of course, exhibit the cup/handle formation. Well, a bit premature for BLR.
Would it be fair to say, a 5-10% gain with at least a few hundred trades is an initial start to look at these discretionary trades? Or, do you enter at open after weekend research?

Ezy,

I like
(a) Volume substantially more than previous day with HHs and HLs.
(b) Breakout from resistance level into blue skies.

PEN resistance is actually more at 4.6. Hit this and failed the week before last. 4.6c is 2 year highs. 5.1c the intraday. High-6s would be 5year highs. Could be special. I would wait until it closes above 5.1. Enter maybe 5.2. Then maybe stop at 4.5 (?). If it fails at 4.6c resistance again like 2 weeks ago then it wont breakout at least not immediately.

MLS entry at 4.1c (last week) with stop at 3.7c.It couldve easily been a much longer consolidation between 3.7c and 4.1c before the breakout. But the volume today really confirmed it.

 

[tech/a]

Ezy.

MLR
I run 15 min scans of the market---actually it does it it self. I briefly look over the page of over 100 stocks and often one keeps moving to the top.
Yesterday MLR was one of these.I then check daily charts back to tick charts to spot volume build ups,I have a look at consolidation breakouts to see how long they have taken to move out,the quicker the better (1-5 min charts best for this.)
MLR had all of that.

BLR.

Same as above at the time of buying but has pulled back and is close to exit.

PEN

This is NOT a breakout trade and is another entry methodology.

 

[Raging Bull]

Hi Tech,

did you mean MLR or MLS?

 

[tech/a]

MLS.

I keep doing that called it MST on another thread.
My apologies---now where are my altzhimer pills.

 

[ezyTrader]

Hi tech/a,

Would you have any comments about your current trades as they stand at the moment?

 

[alankew]

Tech looking at AFT do you agree/think that it seems to be consolidating around these levels.I dont hold but have been looking at some of yours posts on this discretionary trading system and this is something to look out for

 

[ezyTrader]

Would you have any comments about your current trades as they stand at the moment?

Just saw the posts in the individual threads. Don't worry. A nice churning day for MLS.

 

[ezyTrader]

Tech looking at AFT do you agree/think that it seems to be consolidating around these levels.I dont hold but have been looking at some of yours posts on this discretionary trading system and this is something to look out for

Hi Alankew,
IMO, AFT is currently trading at below the 250 Day Moving average. Might be best to tread carefully. HTH.

 

[tech/a]

Alan.

AFT no I wouldnt be watching this one.
Trading below a 250 day EMA would not influence my decision.
Infact the best breakouts occure well below long term M/A's.
Sustained trending is normally not evident in stocks below long term averages.
Weinstiens methods are for longer term not trading outliers.(or quick breakout moves).

Ezy.

Out of MLS at .064 veiws are on that thread above.

Still in both PEN and BLR.

 

[nizar]

Tech,

What are your views on FML and INL please ?

 

[doritos123]

tech,

curious to know what you thought of SML? based on what i've learnt here about price and volume, to me it seems like it will continue up come monday. anything i should look out for?

thanks, been learning heaps from this thread.

 

[tech/a]

A few technical views.SML