Newbie with a bunch of Questions

[Boyou]

Anyone have info on where to obtain Market CAP statistics on ASX listed companies .Been looking on ASX website but can't find anything.

Cheers Y'all

 

[Julia]

That attitude will cause you to hold dogs for longer than you should.
Learn to cut your losses short, and let your winners run.
All the best with your trading/investing.

I agree with this. It was the lesson I took some time to learn and lost money in the process. Don't hold onto the doggies.

 

[tech/a]

maybe I will have some fun along the way.

If you want fun then dont trade.
Its a business.
Nizar/Julia are spot on.

"The I havent lost anything until I sell" attitude is like having a Credit card debt and saying you arent losing anything by holding it--its only when you pay it off that youve copped the cost.

Have fun --- it will be short lived.

 

[x2rider]

Hi folks
Going back to dion's origanal post . I wouldn't be to harsh on yourself for buying BHP at 29.90 . It is above that at the moment and I can't even start to list the shares that have lost me more than an excepatble amount of loss.

Even when it was down at $25.00 it was still only aabout a 17 % loss . Just a word of warning . They get worse than this

Cheers martin

 

[Boyou]

Allright Already!! I get the message loud and clear..Thanks for the concern and stern warnings. ....BUT

while you are pouring the good oil,could one of you answer my previous enquiry re Market Cap info?

Cheers Ya'll

 

[bvbfan]

http://www.ascii-data.com/

Or if you want to do it my each stock then tradingroom is fine
www.tradingroom.com.au

 

[Boyou]

Thanks muchly bvbfan.....I have checked the sites.Exactly what I need.

Cheers Y'all

 

[rowes]

Books - what should I read to learn about how to 'read' share charts? I mean I know the basics, but how to read trends etc I guess.

what exactly do you mean when you say you know the basics?

When it comes to reading charts i really like the candlestick approach, a couple of authors i recomend are Stephen W Biglaow and Steve Nison. Bigalow has a couple of books out which i have read and Nison has a couple of extra, both great reads in my opinion. you are looking at 100$ + a book compared to some of the aussie authors of around 39.99$ but worth every dollar i reckon. There is plenty of free information provided by these authors on the net so you can look into to see if its your thing before parting with your hard earned cash.

 

[hangseng]

A book I have gained a great deal from "The 36 Strategies of the Chinese for Financial Traders" by Daryl Guppy. I paper traded for some time using a few of the strategies in the book and it worked a treat, tried for real and same result. I don't always win but each time I don't I have learnt another valuable lesson. I particularly like "sacrificing the plum to save the peach", I have saved captial and converted to profits a number of times using this strategy. Speaks a lot of trading discipline and the must do of taking profits and protecting capital.

The book also works a lot on market psychology as well as trending and trading strategies. Not a book for everyone but it works a treat for me.
http://www.guppytraders.com/gup317.shtml

I agree with others, Incredible Charts are fantastic. I have been using the free version for almost 12 months but I am about to pay for the full version. Excellent learning and analysis site and tool. I can't speak highly enough of this.
http://www.incrediblecharts.com.au/

 

[disarray]

hi. i'll slide my noob question into this thread.

how can i tell the which amount of the days volume is buy or sell? i use ASX and yahoo finance to track my shares but when they show volume, they only show the full volume of days trade. how can i find out which are proportion of the volume are buys and which are sells?

i'm keen to know if people are buying in or bailing out of a particular stock

danke

 

[nomore4s]

hi. i'll slide my noob question into this thread.

how can i tell the which amount of the days volume is buy or sell? i use ASX and yahoo finance to track my shares but when they show volume, they only show the full volume of days trade. how can i find out which are proportion of the volume are buys and which are sells?

i'm keen to know if people are buying in or bailing out of a particular stock

danke

Disarray, I used to wonder this as well when I first started out, but then I thought about it for a bit. For there to be volume there must be both a buy & a sell, for someone to buy it someone else has to sell it.

 

[tech/a]

Its all in the Price bar.

There is a whole trading methodology and many books written on price action and volume. Known as Volume Spread Analysis.
Quickly on selling and buying.

Take any bar.

If a bar closes higher than the open then buyers have won the day.
If the spread of the bar is wide and the close toward the high then they have had to chase higher prices to get filled.
If the bar closes lower than the open then Sellers have won the day and if the spread is wide and the close near the low then the sellers have had to chase buyers at a lower price to be filled.
If price closes at or near the open then neither buyers or sellers have been in control.


A long and involved yet very powerful trading analysis tool.

 

[disarray]

thanks for the responses gentlemen. i understand shares have a buyer / seller component to make volume, but is there a way to determine the ratios?

for example big holder A decides to take profit and dumps a load of stock, is this taken up by lots of little investors grabbing bits of it at a time or another whale coming along and grabbing most of it? can you tell who those buyers are (aside from ASX company announcements that is)?

also are all public shares actually owned by someone, or are there leftovers available which the company holds and wants to sell? for example during an IPO, 10 million shares are offered but only 7 million get bought. what happens to the other 3?

i have ordered some books and been forum lurking to get more information and these are a few outstanding things i don't understand yet.

cheers

 

[rub92me]

Depends on what datasource and or broker you have. "Rich" intraday data which shows broker codes and individual trades is quite expensive though. Good brokers (i.e. not an internet broker) don't come free either. Good to have either/both though, especially if you are serious about short-term period trading.

 

[constable]

Is it possible for a broker to sell his own shares back to himself and generate "false trades" to manipulate the price?
I know through westpac the trade would be cancelled and if im buying at a lower price than a sell order that i have on the same stock then the trade takes 3-4 minutes to submit while it gets reveiwed. So long as the there is no overlapping on price i can be on both sides. im just wondering if any broker can cross this boundary as suggested on the rds thread.

 

[tech/a]

Personally I think your all getting tied in knots over something which has little to no bearing on your long term/short term profits.

Worry about what YOUR doing not everyone else.

Volume and Spread simple who sells what to who is of no consequence.
Take care of the big issues like risk management.

 

[constable]

Personally I think your all getting tied in knots over something which has little to no bearing on your long term/short term profits.

Worry about what YOUR doing not everyone else.

Volume and Spread simple who sells what to who is of no consequence.
Take care of the big issues like risk management.

i was more after the fact though as these theories are bandied around much like cappers etc.

 

[professor_frink]

thanks for the responses gentlemen. i understand shares have a buyer / seller component to make volume, but is there a way to determine the ratios?

for example big holder A decides to take profit and dumps a load of stock, is this taken up by lots of little investors grabbing bits of it at a time or another whale coming along and grabbing most of it? can you tell who those buyers are (aside from ASX company announcements that is)?

I've heard of futures daytraders using tick/volume delta(measures volume going through at the bid or ask), and seen charts of it, so it can be done. Simply reading the tape would give you a good idea too. But unless your trade lengths are measured in minutes instead of days, it would be pretty pointless information to have.

Tech was on the money in post#32. You'll get all the information you need for position/swing trading out of the daily bar and volume.

 

[pacer]

I try not to over-complicate things.....money is made on simple facts and figures....delve deeper if you must, but you may only confuse things.

This worked before,atm and will in the future.....getting rid of the 'NOISE' is alway a problem for a good trader.....and usualy just ends up in gut instinct taking over anway....which in my experience .....wins 90% of the time.

Work out what is important (T/A Fundies/News) and go from there.

Works well for me....too easy.......

 

[tech/a]

Const.

Firstly your case.

Placing a buy at a lower price than their sell order.
Cant see a problem with this Ive done it often.

But at both ends of the scale at the low of a move and at the higher end of a move professionals do test the market.
Here is BLG and the comments on recient price action which as you can see were very good as future price action proved.

First is the high of a move (Note the commentary is on the bar marked and future price action wasnt known---this commentary appears AT THAT BAR)

The second is a low of a move--not known at the time---as you can see by the chart of the "Suspected high" These are alerts and warnings---other analysis confirms but wont go into it here.

The software is Tradeguider VSA EOD.
This is what I mean with regard to the importance of VOLUME and SPREAD.
When you get into this stuff youll find that your understanding of volume will be turned on its head!!