How I trade

rja2439 said:

SGN's looking good Brad...nice one.

Do you have a stock screening approach at the top of your trading system? i.e. how do you find the stocks that are of interest to you? e.g. some sort of initial fundamental analysis, seeking sectors in the market that may have potential, or just wading through heaps of different stock charts?

Cheers,
Rob

Click to expand...

Hi Rob
For this type of trading its really all about eyeballing charts
I think there is a pattern explorer for amibroker but i don't use it. Someone else may have some feedback

Cheers
Brad

beamstas said:

I work part time as an accountant, rest of my time is spent at uni, im doing a business degree
Trading is just a side

Cheers
Brad

Click to expand...

And your initial deposit is $100K?

So, it's paper trading, right?

kennas said:

And your initial deposit is $100K?

So, it's paper trading, right?

Click to expand...

Im showing the performance of the trades on a paper $100,000 account yes.
I do trade these setups but im not here to harp on about past performance
That's why the setups are live and going forward

beamstas said:

Im showing the performance of the trades on a paper $100,000 account yes.
I do trade these setups but im not here to harp on about past performance
That's why the setups are live and going forward

Click to expand...

OK, cool!

Looking foreward to updates.

beamstas said:

SGN
27th May: Now we are cookin
26th May: For anyone following this thread with interests in VSA you should be getting quite excited about todays bar . Lets step back a day, yesterdays bar was a wide ranging bar on high volume, with the close finishing up near the high. If that big volume was sellers how could the close be high? Then look at today, we pushed up a 1c, and then fell back to 51cents (open price). Look at the tiny volume, only 40,000 shares were traded. Obviously yesterdays buyers were not keen to sell yet (as the price pushed up but no selling followed through). Remember with VSA one signal doesn't mean a thing by itself, you always have to look at what has happened prior to the bar you are looking at.
25th May: This one is forming a nice triangle. I'd really like to wait for this one to break the upside before buying, simply because of the most recent bar on friday. The high volume is a bit worrying so i'll be conservative here. I'll leave this in my watch list to see if it is worth a buy. An alternative from an EW point of view is that we have seen a large wave 1. The problem with this is Wave 2 can never be a triangle, so we don't want prices to push any higher. One thing i like is the confluence between wave A and expected wave C (wave C should be around the same length as wave A), with the expected 50% to 61.8% retracement of wave A-B-C from wave 1. If wave C drops into the retracement zone it will be a nice wave 1 with good geometry. Either way i have two analysis on this and im going to wait for price action to confirm one of them, then i'll look at trading it. Do not be fooled by me providing two analysis, over the next few days one of them will be proved wrong.

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Hi Beamstas,

Ref Post #99 shown above, I have noticed that your price data is different to mine. For example your swing point 1 is at 0.600 whilst on my chart it is at 0.660 !!??!!

FYI I'm using JustData as my data provider.

Consequently, can anyone else following this thread confirm what price they have at this particular point.

Its a little worrying especially considering the Symm Triangle looks totally different when drawn on my chart.

Fine here Chorlton, mine is 0.594 so pretty much .600

EOD RealTimeData here.

Chorlton said:

Hi Beamstas,

Ref Post #99 shown above, I have noticed that your price data is different to mine. For example your swing point 1 is at 0.600 whilst on my chart it is at 0.660 !!??!!

FYI I'm using JustData as my data provider.

Consequently, can anyone else following this thread confirm what price they have at this particular point.

Its a little worrying especially considering the Symm Triangle looks totally different when drawn on my chart.

Click to expand...

PremiumData



They may have had a stock split or something

Here is my version of the same chart.

As you can see the level is around 0.660.

I'll be interested in others following this thread to confirm their values, if they don't mind.

PS. Sorry to take the thread off-topic briefly Beamstas....

Here you go Chorlton...

ThingyMajiggy said:

Here you go Chorlton...

Click to expand...

Hi Sam,

Thanks for the response.

For anyone else who is following this thread, can I ask that you just post the values you have on your chart rather than post the actual chart, as I don't want to mess up the flow (and main purpose of this thread) BTW Great Analysis on your charts so far Beamstas... !!!

As a side note, the reason for posting here as opposed to on another thread is simply to draw the attention of others following this thread that their data "may" also be different to Beamstas in places and hence the TA patterns that Beamstas is referring to may look different.

Cheers All..........

Chorlton, got 0.66 as well , also from Justdata

Chorlton said:

For anyone else who is following this thread, can I ask that you just post the values you have on your chart rather than post the actual chart, as I don't want to mess up the flow

Click to expand...

SGN
28th May: Extremely weak. Normally a symm triangle in an uptrend will make a high and test the high of the triangle twice (which it has done now), as well as the bottom twice. We are free to move in either direction now. I hadn't placed any lines on this chart for buy & sell levels because i wasn't actually trading this one in my own account. If i was going to trade it i'd look for an entry on the green line with a stop loss at the red line. The problem with the probe up is it didn't actually invalidate or prove wrong the e.w count, so again we'll just have to wait for this one to do something decisive. Below the red line invalidates our triangle and above the blue line invalidates the e.w count. (Or a big ranging bar doing both would invalidate me )
27th May: Now we are cookin
26th May: For anyone following this thread with interests in VSA you should be getting quite excited about todays bar . Lets step back a day, yesterdays bar was a wide ranging bar on high volume, with the close finishing up near the high. If that big volume was sellers how could the close be high? Then look at today, we pushed up a 1c, and then fell back to 51cents (open price). Look at the tiny volume, only 40,000 shares were traded. Obviously yesterdays buyers were not keen to sell yet (as the price pushed up but no selling followed through). Remember with VSA one signal doesn't mean a thing by itself, you always have to look at what has happened prior to the bar you are looking at.
25th May: This one is forming a nice triangle. I'd really like to wait for this one to break the upside before buying, simply because of the most recent bar on friday. The high volume is a bit worrying so i'll be conservative here. I'll leave this in my watch list to see if it is worth a buy. An alternative from an EW point of view is that we have seen a large wave 1. The problem with this is Wave 2 can never be a triangle, so we don't want prices to push any higher. One thing i like is the confluence between wave A and expected wave C (wave C should be around the same length as wave A), with the expected 50% to 61.8% retracement of wave A-B-C from wave 1. If wave C drops into the retracement zone it will be a nice wave 1 with good geometry. Either way i have two analysis on this and im going to wait for price action to confirm one of them, then i'll look at trading it. Do not be fooled by me providing two analysis, over the next few days one of them will be proved wrong.

bingk6 said:

Chorlton, got 0.66 as well , also from Justdata

Click to expand...

I've got 59.4c on both Incredible charts and on Amibroker with PremiumData

nomore4s said:

I've got 59.4c on both Incredible charts and on Amibroker with PremiumData

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Nomore,

Thanks for the feedback.

This is beginning to look like the problem could be with the data supplied by JustData !!

-------------

If Tech/A is reading this I'd welcome his comments as from memory I think he uses different data providers.

My chart high and low points using JustData (top) and StockDoctor (bottom)

(click to enlarge)

Boggo said:

My chart high and low points using JustData (top) and StockDoctor (bottom)

(click to enlarge)

Click to expand...

LOL. From Bourse Data the high and low points were same as JustData. Go figure!

skc said:

LOL. From Bourse Data the high and low points were same as JustData. Go figure!

Click to expand...

Its a little worrying IMO given the difference in Prices between Data Providers. Its makes you wonder how many other prices (across Mrkts) are different !!!!!

Chorlton said:

Its a little worrying IMO given the difference in Prices between Data Providers. Its makes you wonder how many other prices (across Mrkts) are different !!!!!

Click to expand...

It would have traded at 66c
But good data providers will change old prices in the event of a stock split, so that past data is accurate for backtesting

beamstas said:

It would have traded at 66c
But good data providers will change old prices in the event of a stock split, so that past data is accurate for backtesting

Click to expand...

Beams,

I was under the impression that JustData was a reliable Data Provider. If it wasn't for the fact that I also need LSE data, I would be more than happy to simply swap to Premium Data.

Might have to consider two Data Providers in the future......

SGN
29th May: I noted yesterday that it was weak, and today we followed through with even more weakness. I have canned the Symmetrical triangle and will approach this with an E.W approach now. This is why you shouldn't fall in love with a particular setup. I have come to terms with the fact that this pattern will not make money, so unless we drop further im going to stand aside.
28th May: Extremely weak. Normally a symm triangle in an uptrend will make a high and test the high of the triangle twice (which it has done now), as well as the bottom twice. We are free to move in either direction now. I hadn't placed any lines on this chart for buy & sell levels because i wasn't actually trading this one in my own account. If i was going to trade it i'd look for an entry on the green line with a stop loss at the red line. The problem with the probe up is it didn't actually invalidate or prove wrong the e.w count, so again we'll just have to wait for this one to do something decisive. Below the red line invalidates our triangle and above the blue line invalidates the e.w count. (Or a big ranging bar doing both would invalidate me )
27th May: Now we are cookin
26th May: For anyone following this thread with interests in VSA you should be getting quite excited about todays bar . Lets step back a day, yesterdays bar was a wide ranging bar on high volume, with the close finishing up near the high. If that big volume was sellers how could the close be high? Then look at today, we pushed up a 1c, and then fell back to 51cents (open price). Look at the tiny volume, only 40,000 shares were traded. Obviously yesterdays buyers were not keen to sell yet (as the price pushed up but no selling followed through). Remember with VSA one signal doesn't mean a thing by itself, you always have to look at what has happened prior to the bar you are looking at.
25th May: This one is forming a nice triangle. I'd really like to wait for this one to break the upside before buying, simply because of the most recent bar on friday. The high volume is a bit worrying so i'll be conservative here. I'll leave this in my watch list to see if it is worth a buy. An alternative from an EW point of view is that we have seen a large wave 1. The problem with this is Wave 2 can never be a triangle, so we don't want prices to push any higher. One thing i like is the confluence between wave A and expected wave C (wave C should be around the same length as wave A), with the expected 50% to 61.8% retracement of wave A-B-C from wave 1. If wave C drops into the retracement zone it will be a nice wave 1 with good geometry. Either way i have two analysis on this and im going to wait for price action to confirm one of them, then i'll look at trading it. Do not be fooled by me providing two analysis, over the next few days one of them will be proved wrong.