- Joined
- 28 August 2022
- Posts
- 6,531
- Reactions
- 10,541
Have a buy in but way under the present SP Just sitting at the bus stop waiting for the 4.41 this arvo !!!!!
Dump it Here
- Thread starter Skate
- Start date
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Great summation found here (before the markets opened)
Hearing how others trade, is a privilege.
LYC - Lynas Rare Earths
=AZVSOm3kzInsau5RHw49NwYQ3WW0E72d3TZfJq4sEW3zxNMWuIbYPbTaZLvOz4BBXhwYDqOpIFRf0p4Z3JTuKn54ZKNM5G8Z4Ah94sbZZGvZrerBsiJfxoLGmVD_qKWJl4rcKsxSlqZ666nnD3f1k7icJAuwOEdhr4_c_WupxqAE-Jlxd-WMhVzXroqqb1OfnbQP770YprVHOJ6QAZFvSfNr&__tn__=-UC%2CP-R']Lynas Western...
www.aussiestockforums.com
Trading is simple & uncomplicated
Don't let anyone tell you it's not. It's not rocket science to buy & sell part of a company. The difficult part is finding (a) what to buy (b) when to buy it & most of all (c) when to sell it. @rcw1 has exercised all three today which is very impressive. Jumping on when they are going up & hopping off at the first sign of them going down is where the skill is. Taking profits on offer is another as @farmerge has indicated by locking in a "Take Profit Stop". Exiting doesn't mean you can't buy back in because that option is always open.
Skate.
Last edited:
??mate, u ein some n u lose some
Other wise we r all millionaires or Billionaires
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
We are all different
While one person sees an opportunity, others see something completely different. Thus, it’s our perception that creates value at any given time.
Skate.
- Joined
- 28 August 2022
- Posts
- 6,531
- Reactions
- 10,541
Skate whilst enjoying a mug of coffee and biscuits I started thinking about your replies. What a breath of fresh air with your thoughts when you post. I put you in the same league as His Lordship, not sure if you were ever in the commsec community, but I bestowed this title to Mahail a couple of years ago. Another true gentleman.
- Joined
- 28 May 2004
- Posts
- 10,856
- Reactions
- 5,246
- Joined
- 28 August 2022
- Posts
- 6,531
- Reactions
- 10,541
will change tack Joe
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Skate.
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Skate.
- Joined
- 30 June 2007
- Posts
- 7,200
- Reactions
- 1,226
EOD mean reversion on ASX speccies is dead! Has been since covid struck in 2020. They way these stocks move nowadays is just unbelievable. Completely different to pre-covid.
Gives me the irrits because momentum trading is something I've never figured out.
Gives me the irrits because momentum trading is something I've never figured out.
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
@farmerge if I may make a few comments & post a weekly chart for (PLS)
@Sean K & @Joe Blow are absolutely correct that trading banter might be better suited to the ASX Trading thread. But, as you are a relatively new member of our community I'll post a chart when positions are mentioned. To understand why a position is mentioned I pull up a chart using the "Ducati Blue Bar Strategy". This strategy has the unique ability to pick the confirmed momentum moves of any security in any time frame just by recolouring the price bars.
Yellow means caution
The ribbon at the bottom of the chart denotes if the position is currently unloved by turning yellow (caution should be exercised) similar to traffic lights. BTW, the colour of the bar changes in real-time during the whole trading period, whether that be Daily, Weekly or Monthly periodicity.
A simple strategy that uses volatility & volume
I've made multiple posts on the advantages of "The Ducati Blue Bar Strategy" when it comes to a trading strategy that is simple in design & structure as it incorporates both "volatility & volume". As traders, we don't need a fancy strategy to make money. It's exciting to experience how other traders & their methodologies that decide when a position is to be entered. Coding of the "Blue Bar" strategy is pretty straightforward & it's easy to chart positions to understand the logic behind the selection.
Simply, colours tell the story
Blue bars are good, red not so much. A yellow ribbon means the position is unloved & caution should be exercised.
Weekly Chart (PLS)
In summary
The recent banter may be shited to the ASX Trading thread.
Skate.
Sean K
Moderator
- Joined
- 21 April 2006
- Posts
- 22,131
- Reactions
- 11,230
@farmerge and @Rabbithop just moved some of your banter to the ASX Trading thread. Thanks for all your posting, keep it up.
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Weekly results
Before ceasing the exercise of weekly reporting of the "HighRoller Strategy" I remarked the next update would be today. After this post, there won't be any further updates or ongoing progress of the three strategies.
Combined results
All three strategies are performing at the moment which is pleasing. Most traders are constantly obsessing about where & how to get into the market. At times waiting for signals for the "percentage filter" to kick-in can be the hardest part of trading my way.
Equity Curve
It should be noted that the three strategies were idle for 6 weeks before the first signal. The "HighRoller Strategy" was selected for this exercise & currently, it's the worst performer of the three. I select the "HighRoller Strategy" for no other reason than it was first on the list of three in the "Dashboard Filter".
Skate.
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Sometimes the truth can be brutal
At times posting information in such a way can have a detrimental effect than those that were intended. We all like to read interesting & stimulating information. But I guess it's only human nature to enjoy watching a train wreck in motion.
One of our members has a pole on Twitter asking others who would like the format of displaying dollars wins/losses to continue into the New Year. I'm sure the pole will be an astounding "yes" for two reasons.
1. To see if they can get out of the hole they have dug for themselves
2. To keep experiencing the pleasure of "Schadenfreude".
Strangely enough, pleasure comes in different forms
It always feels better when it's happening to someone else.
Schadenfreude (German)
There is no equivalent English word for "Schadenfreude" but the feeling of this unique form of pleasure does exist even if we don't realise it.
At one time or another
We have derived some pleasure & satisfaction from the failures or misfortunes of others. We tend to giggle when someone trips over, that's "Schadenfreude", the whole premise of the television show "Funniest Home video".
Draw a line in the sand
If I had a vote. I would vote to change the format at the end of the year & start the new year off fresh. I'd also suck up the loss & move on. Others will quickly forget. Also, I don't get the point of why someone would post about others being in a similar boat to them, does that make the situation any better?
# Not long now to have the WTT backtest records updated to the end of November.
Skate.
- Joined
- 8 March 2007
- Posts
- 2,654
- Reactions
- 3,620
Is it possible for you and your 1st mate to document your Missed out Buys / Gaped Out in your Mechanical A.I.
"Let's be Cruel"
As I have always said
" The Best Ones always GAP" and are missed out by more than ~80% of participants
All I suggest is that all A.I. Mechanical Entry points miss out 100% of the time when the Good Ones GAP up or Down
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
@Captain_Chaza, you make a great point
Missing an odd trade here or there due to the opening price exceeding my (premium loaded) pre-auction "offer price" is nothing in the scheme of how I trade. Trading isn't dependent on one or a handful of trades but it is dependent on executing your strategy perfectly in accordance with your trading plan.
Why do we need a trading system?
Trading is not an exact science & it's my belief that to succeed in the financial markets you need to have some kind of trading system in place as @ducati916 referenced in his daily post today. The level of complexity of your strategy has almost no bearing on performance, but your execution matters immensely. If you have a great trading system, one that consistently makes you money, it is mostly that "you" are the one that’s making the system work.
Skate.
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
Trading is a game of perfection
When I say "perfection" I mean doing everything to the best of "your ability". At times "good enough" is "good enough" to be profitable. Trading for me is a solitary endeavour & I tend to trade in my own little bubble. At times, I often wonder if my trading results mirror the trading results of others. Basically, it allows me to gauge if my results are in the normal range (if there is such a thing). Admittedly comparing trading results will vary from one trader to another but that's not the point. We all look for an affirmation that our trading results are within the ballpark of others.
There are times when you need to step out of the markets
Capital preservation is the number one consideration in this game. Trading is even hard in the "best of times" but if you don't know "when to hold them" & "when to fold them" it's called gambling.
Known & unknown data is an issue for system traders
Coding precise mathematical formulas on "known data" doesn't always translate all that well when you actually start trading the strategy live against "unknown data". That's the problem with system trading in a nutshell & it's the reason, we come unstuck, so often.
Skate.
When I say "perfection" I mean doing everything to the best of "your ability". At times "good enough" is "good enough" to be profitable. Trading for me is a solitary endeavour & I tend to trade in my own little bubble. At times, I often wonder if my trading results mirror the trading results of others. Basically, it allows me to gauge if my results are in the normal range (if there is such a thing). Admittedly comparing trading results will vary from one trader to another but that's not the point. We all look for an affirmation that our trading results are within the ballpark of others.
There are times when you need to step out of the markets
Capital preservation is the number one consideration in this game. Trading is even hard in the "best of times" but if you don't know "when to hold them" & "when to fold them" it's called gambling.
Known & unknown data is an issue for system traders
Coding precise mathematical formulas on "known data" doesn't always translate all that well when you actually start trading the strategy live against "unknown data". That's the problem with system trading in a nutshell & it's the reason, we come unstuck, so often.
Skate.
- Joined
- 28 August 2022
- Posts
- 6,531
- Reactions
- 10,541
Just came across this old post of yours Skate What a beauty
- Joined
- 28 December 2013
- Posts
- 6,362
- Reactions
- 24,248
@farmerge, the "Dump it here" is coming up to its 4th anniversary on the 17th of December. Over that period I've made a stack of posts repeating what I already know “but’ it's the contribution of others that I enjoy.
Sharing is caring
When others post they are also passing on knowledge from their experience that allows us the privilege of experiencing something new. I read a powerful post in the Amibroker forum & with permission, I reposted it in this thread.
My original post can be found here
Dump it Here
@jbocker - "A lacky-band gun removed from an algebra class because it was a weapon of math disruption" After many years I have finally changed my tag @Skate. You can read it below in my sign off. I changed it to this as I feel a greater realisation of it, the older I get.
www.aussiestockforums.com
The article below has been written by: NextLevelForex (AmiBroker forum member)
I've been given kind permission by "NextLevelForex" a member of the "AmiBroker forum" to repost his article. The article below has been succinctly written by an experienced trader in the hope of helping others. IMHO the short article covers it all & is very worthy of a few reads.
"NextLevelForex" original article can be found here:
https://forum.amibroker.com/t/what-is-the-most-profitable-trading-strategy/16227/25
Hi everyone,
"I started trading in 2002, and till 2013 I switched from one thing to another (from funds to stocks, then to options, next to futures, then to forex, and finally real estate). Probably the biggest mistake was not recognizing what I was doing wrong, for each market and “system”, and instead thinking that the "next thing" would solve whatever issues I encountered. I put system in quotes because I never really had a system, but it’s only much later that I learned that
In hindsight, I am very happy I persisted, and I'm also glad I did not know how long and hard the journey is. Had I known that, I might have not even started it (or, who knows, maybe I would have started it with more preparation and discipline).
Why am I very happy I persisted? Because, in the end (after about 5 years), not only I changed many things about myself for the better (like being more accepting of the unknowns of life, thanks to lessons learned from a trading perspective), but I also seem to (finally) have a system that I trust to trade for the long run.
As a few people pointed out, the best system is one that you can stick with (and it is assumed that it does have an edge). Looking back, many of the things I tried in my pre-2013 era did have an edge, but I did not stick with those systems through the drawdowns... Plus, as mentioned above, I did not really have all the pieces in place, so they were incomplete systems, which made matters worse.
Am I consistently profitable? That totally depends on so many things, it's genuinely difficult to answer. For example, what is consistent? Not having a losing day, or week or month? If that's the meaning you give it, than I'm not in that bucket, and I may very well never be. Does it mean not having a losing year? Again, not my definition and does not apply to me. Losing small when you have a yearly loss, and making nice returns when you have a winning year, that's the meaning I give to "consistently profitable". (and here, "small loss" and "nice returns" are again what you say they are, not some universally accepted values)
Also, what is the size (depth) and duration (length) of the drawdowns you are willing to go through? A good exercise, in my opinion, is to download SP500 daily data from Yahoo, or any other broad index that you like, and calculate some of its metrics, using Excel. I guess a lot of people are happy with the returns SP500 delivered after March 2009, but they seem to be of the opinion that the index cannot go through another deep drawdown like it did in 2008. But, if it does, would you be ok with that drawdown, for the annual performance it delivered?
In closing, if someone wants to trade only because of the promises of easy money, I would advise that person to find another reason, or, better yet, reasons. I love numbers and programming more than I love making money. If it was only for the money, I would have quit this journey a long time ago..."
Hope this helps!
-------------------------------------------
Conclusion
In this game - help from others is the key to success
Skate
Similar threads
- Poll
