Does anyone mind analysing a graph for me?

[peter2]

If you are going long and short without a plan then it doesn't matter what anyone else things about the chart (or the stock).

What you must do is make sure your average losing trade is smaller than your average win.

In this way you might survive long enough to learn what you need to know.

 

[sails]

You're right about that, i've been riding (or trying to ) MQG all morning, and the depth certainly looks interesting, moderate parcels coming and going, trying to make sense of it all.

EDIT>>BTW Sails, i've been trading DITM options but looking at the MQG stock depth. Practicing intraday directional but not comfortable with the stock due to the sparse volumes in the order book most of the time.

I would have thought there would be a lot of slippage with DITMs - and especially something as illiquid as MQG options. Haven't checked them for a while now, but was really put off due to the awful liquidity. Have you looked at turbo warrants or CFDs if you are only day trading? Although, options are good in that they provide a guaranteed stop loss and one can do some repair strategies if they go wrong to further minimize the risk.

Oops - might be getting a bit off topic here...

 

[cutz]

If you are going long and short without a plan then it doesn't matter what anyone else things about the chart (or the stock).

What you must do is make sure your average losing trade is smaller than your average win.

In this way you might survive long enough to learn what you need to know.

G'Day Peter,

Are you talking me?

 

[cutz]

I would have thought there would be a lot of slippage with DITMs - and especially something as illiquid as MQG options. Haven't checked them for a while now, but was really put off due to the awful liquidity. Have you looked at turbo warrants or CFDs if you are only day trading? Although, options are good in that they provide a guaranteed stop loss and one can do some repair strategies if they go wrong to further minimize the risk.

Oops - might be getting a bit off topic here...

Hello again Sails,

MQG are OK at the moment, i guess it's due to IV settling down a little, i'm getting fills at close to intrinsic, (on the calls).
I guess i'm stuck in a comfort zone with options, it's also nice going short without hassles.

 

[peter2]

I was replying to the thread starter, voyz, who seems to be trading this both ways already. If he doesn't know what is going to happen next, welcome to the world of trading.

You don't have to know where price is going, to be profitable in the long run.

If he continues to trades with good risk control then he might realise that you don't need to know all the TA stuff to be profitable.

 

[beamstas]

If he continues to trades with good risk control then he might realise that you don't need to know all the TA stuff to be profitable.

T/A Is just an excuse to enter the market

Someone who uses Technical analysis has any better chance of predicting a price movement compared to someone who uses fundamental analysis.

The only reason alot of people prefer T/A is that is gives a logical point where the analysis is wrong

 

[voyz]

very happy atm my sell order for my long trade just got filled on todays high so now to start again but wether to go long or short i dunno atm coz we are in the middle of the highs n lows of the last 4 days. seems to be creeping bak after the high so hopefully falls down to my last average and jump in again. and then do it again and again.

also.. thanks for any advice given, was lookin for ways of learnin T/A on a stok i have been trading over the last few months fairly succesfully with examples of how other people would analyse it.
helps to watch and learn

cheers

 

[tech/a]

T/A Is just an excuse to enter the market

Someone who uses Technical analysis has any better chance of predicting a price movement compared to someone who uses fundamental analysis.

The only reason alot of people prefer T/A is that is gives a logical point where the analysis is wrong

Where do you get this rubbish?

 

[beamstas]

Was meant to say no better chance

I use T/a
Why?
Because it helps me feel like i can predict a price move
But i still can't!

 

[tech/a]

Was meant to say no better chance

I use T/a
Why?
Because it helps me feel like i can predict a price move
But i still can't!

Anticipate --Grasshopper---anticipate!!

 

[beamstas]

Anticipate --Grasshopper---anticipate!!

I will try

 

[voyz]

any more opinions on which way its travelling seems to have turned to go up again? will it break 14?

 

[peter2]

Now it seems that you are asking for advice. Sorry we can't do that.

As you are already into it, just keep your losses small and may your wins be much bigger.

 

[MRC & Co]

Now it seems that you are asking for advice. Sorry we can't do that.

Yeh, or how about, learn to read a chart or keep this to the individual stock thread. I'm surprised it's been allowed to survive so long without being copied into the thread for this stock.