Dump it Here

[Skate]

Perception = reaction
Our reaction is driven by our perception. Our perception even shapes what we want to read & what we want to hear or learn. Our expectations, assumptions & perceptions shape our trading strategies in ways that may be incomprehensible to some.

Perception = reality
This underscores the idea that our perception (interpretation) is shaped by our individual experiences and beliefs that eventually become our personal “reality”. This doesn’t imply that our perception is an exact mirror of actual reality but rather emphasises how our unique interactions are moulded by our perceptions.

Skate.

 

[Skate]

Our perception even shapes what we want to read & what we want to hear or learn.

How Reason Can Make You a Better Trader: Lessons from Ayn Rand
I'm currently reading "Atlas Shrugged" by Ayn Rand, and I find her ideas to be quite thought-provoking. I've watched several of her interviews on YouTube, and I admire her unwavering commitment to her beliefs, even when faced with opposing views. One quote that particularly resonates with me is her statement about the "power of reason". While not all of her beliefs are universally accepted, her conviction and consistency in her ideas are certainly impressive

Reason is the foundation (basis) of morality, happiness, and freedom
One of Ayn Rand's philosophies is that she believed that "reason" is humanity's most powerful tool, allowing us to understand and navigate the world around us. Rand's philosophy emphasises the importance of logic, rejecting any form of mysticism, faith, or scepticism that undermines the power of reason.

Skate.

 

[Skate]

Reason - the foundation of knowledge and understanding
Ayn Rand's philosophy, which places "reason" at the forefront of human sensors, resonates deeply with my own beliefs about the importance of logical thinking and evidence-based decision-making.

Trading performance
Reason is not only a powerful tool for understanding the world, but also for improving your trading performance. By applying reason to your trading, you can enhance your skills, confidence, and results.

Skate.

 

[Skate]

Reason can make a difference in your trading
Reason helps you avoid emotional biases and errors that may cloud your judgment and cost you money. Reason helps you analyse the market objectively and logically, based on facts and evidence, not opinions or feelings. Reason helps you develop a consistent and rational trading strategy that suits your goals and risk tolerance.

As Ayn Rand said
"Reason is man's only means of knowledge, his basic means of survival, his only guide to action."

Stepping off now

Skate.

 

[Skate]

Celebrating the Dual Breakout Strategy's Up Day
Despite the ASX index having a down day, the "Dual Breakout Strategy" is celebrating another up day. It's an opportunity to review the ongoing results and prepare for a comparison on Friday.

Given the current market conditions, it's interesting to see how the strategy performs over a five-day period. I'll post the daily results after the market closes each day to see how things unfold.











Skate.

 

[Captain_Chaza]

Ahoy there Capn

Way don't you try and pick your "Best One" and enter her in the Nov ASF Comp?
Entries close tomorrow night at midnight
Hope to see you there Out in the Spray

 

[Skate]

Way don't you try and pick your "Best One" and enter her in the Nov ASF Comp?
Entries close tomorrow night at midnight

@Captain_Chaza, thank you for reaching out and inviting me to participate in the monthly tipping competition again. I appreciate your enthusiasm and the invitation. I understand that the tipping competition can be an exciting and engaging event for those who participate.

My primary focus is on helping new traders who are just starting out on their trading journey. I find fulfilment in providing helpful information and guidance that was lacking when I was in the same learning phase. While the competition is not for me, I value its importance to our community.

Skate.

 

[Captain_Chaza]

IMHO
The Diligent Newby Should Put an Entry in Each Month
AND do Better the Next Month

If they are only good at darts
They will learn that they will lose in the long term
BUT
If they Learn Something
They will learn The Disciplines of Seamanship

I am at least TEN times better due to the Learning /Pressure experiences of this Comp
My 1st Mate is now addicted to the Sea
I think it is a Good Thing?

Crikey Capn Skates
Your warned Beginners and you keep warning your Beginners the dangers of Crossing a Road as you do
IMHO They would never cross the road

What sort of life would that be like if one did not have the Courage to Cross the road?

Why don't you TEACH them into TRY Crossing the Road which is FREE BTW and Start LEARNING something other than Darts

 

[Captain_Chaza]

I Think You and I Both Know
that most Investors spend more time selecting a meal from a Menu
than they do deciding what to pick a share in the monthly comp
or Buy a share in Real Life

That is why Trading in Shares is SO SECRETIVE

 

[Skate]

Crikey Capn Skates
Your warned Beginners and you keep warning your Beginners the dangers of Crossing a Road as you do
IMHO They would never cross the road
What sort of life would that be like if one did not have the Courage to Cross the road?

@Captain_Chaza, it's important to remember that trading is a skill that can be developed over time with persistence, hard work and determination (PhD). Regarding your point about teaching beginners to cross the road, I understand your analogy. However, it's important to note that trading is a complex and risky endeavour, and it's crucial to approach it with caution and a solid understanding of the markets and risks involved. While it's important to encourage beginners to take calculated risks and learn from their mistakes, it's equally important to ensure that they are adequately prepared and aware of the potential risks.

Skate.

 

[Skate]

Stay focused, stay adaptable
The path to trading success isn't just about clinging to familiar ideas or old strategies, it's also about embracing new ideas and approaches and allowing new techniques the opportunity to validate their worth.

Skate.

 

[Skate]

Reporting a weekly strategy daily
Paper trading is a valuable tool for traders who want to test their strategies without risking real money. It allows them to see how their trades would perform in real-time, without the pressure of actually being in the market.

One way to make paper trading even more effective is to report and evaluate daily results. By monitoring the performance daily, you can identify potential issues, manage risk more effectively, and make better trading decisions going forward.

Skate.

 

[peter2]

One way to make paper trading even more effective is to report and evaluate daily results. By monitoring the performance daily, you can identify potential issues, manage risk more effectively, and make better trading decisions going forward.

Don't entirely agree with this. One of the major benefits of trading the weekly charts is to remove ourselves from the day to day volatility and the associated emotional ups and downs.

However, I agree that a huge daily down bar in a stock maybe an early exit signal and may save a few dollars while waiting to the EOW exit signal.

 

[Skate]

Don't entirely agree with this. One of the major benefits of trading the weekly charts is to remove ourselves from the day to day volatility and the associated emotional ups and downs.

However, I agree that a huge daily down bar in a stock maybe an early exit signal and may save a few dollars while waiting to the EOW exit signal.

@peter2, I appreciate your input. I personally understand the importance of recording and analysing daily results in order to gain a deeper understanding of my trading strategy's performance and identify areas for improvement. By considering factors such as market volatility, economic news, and other market events, I can better understand the overall performance of my strategy and make adjustments to optimise its performance.

My ultimate goal is to maximise profits over the long term, and by consistently monitoring and evaluating my performance, I can strive for the best possible results. I believe that paper trading is a valuable tool for achieving this goal, as it allows me to practice and refine my trading skills in a simulated environment before implementing them in real-world trading.

Skate.

 

[Skate]

Shooting the breeze: In a rare moment of mindful clarity I ask myself why I'm not earning money in the plentiful rallies that happen every month in our ASX market? Oct (2023) has been a down month -3.9% yet there's been plenty of opportunities for the disciplined trader. So, what's my problem?

If I could turn back time
@peter2, thanks for sharing your thoughts. I can definitely relate to feeling frustrated when we're not capitalising on market opportunities. I decided to take a closer look at my own trading performance during October. As you can see, the results weren't spectacular, but they do show a small profit overall. I believe with continued discipline and hard work, I can improve my performance and make the "Dual Breakout Strategy" a consistent performer.

The actual results are displayed below
I have displayed the Amiboker Exploration Analysis of buy and sell signals for October. These results allow you to compare and contrast your signs against the signal from the "Dual Breakout Strategy".




# OCTOBER RESULTS ONLY




# OCTOBER BUYS (Amibroker Analysis)







# OCTOBER SELLS (Amibroker Analysis)







# OCTOBER PROFIT (Share Trade Tracker)



Skate.

 

[Skate]

Do you think I should sell a few? LOL!

A picture paints a thousand words - Take Profit Stop
@Captain_Chaza, I understand your concern about the profitability of your investment in WC8. Setting a take profit stop can help you lock in profits while still giving you the opportunity to participate in potential further upside. System Trading can automate this process for you, executing trades based on predefined rules.




# Today's movement



Skate.

 

[peter2]

Mmm . . . OK I'll bite, with my opinions based on the weekly charts.

IVZ: Trade entry for me is back in July when it traded >0.15 for the first time. No setup in Oct.
LRS: Trade entries for me on close >0.16 and again >0.20. No recent setups. Next setup maybe on a close >0.30.
RED: Last entry for me was on close >0.20 in August. Trade still open, no new entries.
LPI: This one we agree on. I would have sold now after the TO news.
BVS: No weekly setup for me since the spike in Aug.
EML: No weekly setup for me since the spike in Aug. Maybe on BO>1.20
NXL: No weekly setup for me since the spike in July. Maybe on BO>1.70
HLA: No setup and wouldn't buy after take over offered.
CTT: No setup in Oct. Last one was BO >2.36 in June.
SYM: No setup and wouldn't buy after take over offered.

IMHO many of these entries were late (we've already discussed this) and flawed due to being after take-over offers.

 

[Skate]

Mmm . . . OK I'll bite, with my opinions based on the weekly charts.

IMHO many of these entries were late (we've already discussed this) and flawed due to being after take-over offers.

I decided to take a closer look at my own trading performance during October. As you can see, the results weren't spectacular, but they do show a small profit overall. I believe with continued discipline and hard work, I can improve my performance and make the "Dual Breakout Strategy" a consistent performer.

I have displayed the Amiboker Exploration Analysis of buy and sell signals for October. These results allow you to compare and contrast your signs against the signal from the "Dual Breakout Strategy".

@peter2, I apologise for any confusion my previous post may have caused. I'd like to clarify that the screenshots I provided are specifically related to the "Dual Breakout Strategy" for "October" trading. The strategy started on October 1st, and the screenshots show only the raw signals from that period.

I hope this clears up any misunderstandings. My apologies again for any inconvenience caused. My intention was simply to help and provide useful information.

Skate.

 

[frugal.rock]

Incorrect Σ for today and yesty?
+- mix up?

 

[Skate]

View attachment 165012
Incorrect Σ for today and yesty?
+- mix up?

Updated cell format



Calculations
-$8,007 + $1798 = -$6,209
-$6,209 + -$1,150 = -$7,359

Skate.