MLS - Metals Australia

[Bullion]

Looks a bit weak now... early lunch time?

 

[SevenFX]

Stop at 6.6c.

I'm supprrised you would loose on this SLOW trade today, when there's profits to be locked in...

I like the saying "NEVER turn a PROFIT Into LOSS"

 

[SevenFX]

Looks a bit weak now... early lunch time?

Looks a lot weak, for this moment in Time, and yes early Lunch

 

[nizar]

I'm supprrised you would loose on this SLOW trade today, when there's profits to be locked in...

I like the saying "NEVER turn a PROFIT Into LOSS"

Gotta give the stock a bit of room to move if you want those multiple R-winners, over the next few days.

Also, think about the reason for placing a stop.
It should be placed somewhere, where, if hit, tells you a change a trend, and thus the reason you bought the stock is no longer there.
I wouldnt want to be stopped out, when the trend is still up, and the stock can still appreciate.

 

[SevenFX]

Gotta give the stock a bit of room to move

I agree that stock has to move with profit you make, BUT, when it moves below you buy and it's moving further into your losses...it's can't feel good...

if hit, tells you a change a trend, and thus the reason you bought the stock is no longer there.

I wouldnt want to be stopped out, when the trend is still up, .

I assuming your trading on a intraday trade, as you've bought and sold a number of times, so yesterdays, and the day b4 trend is not applicable, to the intradays trend, which is difinetely trending down.

 

[tech/a]

Sorry busy this morning on the other 3 I'm trading.
PEN
BLR now sold
AEX
LEG

MLS is doing as expected. Up early then Crappo.

Hi and thanks to the Fan club!!

The risk was to great for me to hold over night and in hindsite would have been slightly profitable.
Snakey at $1,250 a tick grab what you can. Anyway you have your style I mine.
Still interested in this 18% pullback---strange number?

Is that off the days range? so if range at anyone time is say 10 ticks thats a 2 tick pullback?

Just cant get my head around how you implement it?

Always interested in new ideas---thats how you improve---if you find one worth adopting.

Here is a 1 min chart

 

[nizar]

I agree that stock has to move with profit you make, BUT, when it moves below you buy and it's moving further into your losses...it's can't feel good...



I assuming your trading on a intraday trade, as you've bought and sold a number of times, so yesterdays, and the day b4 trend is not applicable, to the intradays trend, which is difinetely trending down.

SevenFX, you are more pro than me.
Im just a beginner.
ANd No - i dont only trade intraday, i also trade longer timeframes.
With this mornings trade, i was happy for it to close at 7.0 (my buy price), that would still be bullish if you take a longer (ie. daily) view.

I recognise that some moves, especially if you want those multiple R-winners, more than 1 day may be (and often is) required.

When i first bought MLS on Wednesday last week (i still have contract notes) it was 4.1, immediately it went to 3.8. I was happy with that loss because overall i knew if it broke 4.1 it would be significant.

Im happy to hold for a few days.

My trading is still a working progress.

Good luck and thanks for the advice.

 

[nizar]

Tech yes PEN is a beauty i got some yesterday.
Check out FML - thats also a winner.

Alot of breakouts these last few days.

 

[Snakey]

days high and today .074
18 was a number i pulled out of my head
if this stock traded below .063 i think that would be enough to trigger my sell button .still with tidy profit. but its like tekman says you need to give this stock room to move. i hold on intraday because it is very hard to predict intraday movement. for it is easier to predict daily movement and general market attitude to a stock through supply and demand.

 

[Snakey]

12 to 18% down from day high denotes complete lack of confidence in the current stock price and then i would sell on the first recovering bounce back.

 

[tech/a]

days high and today .074
18 was a number i pulled out of my head
if this stock traded below .063 i think that would be enough to trigger my sell button .still with tidy profit. but its like tekman says you need to give this stock room to move. i hold on intraday because it is very hard to predict intraday movement. for it is easier to predict daily movement and general market attitude to a stock through supply and demand.

Dont disagree with that!!

Most short term traders I come across are to trigger happy on the sell button.
If I geta runner then I'll do as you do give it room.
However I will dive in and out prospects if the DONT run reasonably well on the day of entry or if consolidation stops progress for to long.

Dont mind your one stock strategy,and beating the bank.

All success to those who trade.

 

[SevenFX]

SevenFX, you are more pro than me. Im just a beginner.

My trading is still a working progress.

Good luck and thanks for the advice.

Me being more pro that you.. NOT, I'm sure you've been around for a few years now, and have posted a lot of interesting threads...you even got the lunchtime lows right...

I've only been trading since mar06, and feel like I've just started as there so, so much do learn... and lovin it.

I ask the q's of you, to learn how others think, while in their trades, guess as we all do... which hopefully helps me....if I can learn more.

 

[Snakey]

Dont disagree with that!!

Most short term traders I come across are to trigger happy on the sell button.
If I geta runner then I'll do as you do give it room.
However I will dive in and out prospects if the DONT run reasonably well on the day of entry or if consolidation stops progress for to long.

Dont mind your one stock strategy,and beating the bank.

All success to those who trade.

very hard to keep track of muiltple stocks in one day
tried that ...got confused and lost money

 

[tech/a]

3 at a time max.

Have live here and only trade when things are bullish like now.
Fortunate enough to run the company with great staff who are looked after.
Started long term investing and still run 3 long term portfolios.
However the returns trading shorter term SERIOUSLY I in the end could not ignore so here I am.

Anyway enough of that on with work!!

 

[toc_bat]

im sure i remeber yesterdays vol to be around 300million, but etrades interactive chart is telling me 30million, can anyone confirm either number?

just checked asx charts, yep 300mill, bloody etrade!

 

[nizar]

I think at 2:30-3:00pm, this will begin to take a direction, ie. either up or down.

I dont think it will close at these levels. Either will close at 7.0c+ or below 6.6c (sell-off). The final hour almost always makes a difference.

Quite a bit of sellers (obviously) at 7.1-7.4 those that bought this morning and want their money back.

We will need quite a bit of volume to overcome that.

 

[SevenFX]

This is lookin very shakky to me, and would have to exit if I were still in.

 

[Snakey]

out at .066
too many sellers

 

[nizar]

out at .066
too many sellers

Same.

 

[tech/a]

out at .066
to many sellers

Wise.---Went pretty well as planned technically.---See i didnt run away just didnt get emotional!!