PEN - Peninsula Energy

[nizar]

Re: PEN - Peninsula Minerals

Nizar,

What software do you use to perform such a volume scan. And what parameters do you look for in volum? ie daily vol vs average daily for the past 5? 20? 50? days, etc.

thanks

ASX website and/or people posting in the breakout thread. I think it was actually tech riding this last week and he posted it (when it was around 3.5-4c). It wasnt a breakout* then though. But that got it on my radar. It wasnt a breakout*, BUT the volumes were encouraging and 4.7 (the all time high was in sight).

(*sorry it meant it wasnt a firm entry criteria for the system im trading. Kennas is correct, its a clear breakout)

I look at the last few days volume but also the longer term volumes. The latter is like ~5mil/day. Breakouts, well the best of them, come with a VERY OBVIOUS increase in volume. Look at AUZ, AIM, DYL, etc etc when they first broke out.

So yeh, my tools are VERY primitive, really not ideal for short-term trading.

 

[Sean K]

Re: PEN - Peninsula Minerals

The first breakout was actually at $0.032/3 ish. On big volume.

The rest is as indicated.

Missed it.

Watching too many things...

 

[ezyTrader]

Re: PEN - Peninsula Minerals

I probably got this link from somewhere in the forum.

http://clients.weblink.com.au/clients/equitiesinfo/

Lists all 52-week highs and lows (20 minutes delayed, I believe). Guess this is how to get the stats every 20 minutes.

SevenFX/toc_bat,
If you have IC (incredibleCharts), you could do a scan for increased volume(%,quantity) to locate potentials, plus others. It's actually quite a nifty application.

 

[toc_bat]

Re: PEN - Peninsula Minerals

A Q for the experinced ones,

Say you came accross PEN today, like me. On what basis do you decide to get in or not? Wait till end of day? Or watch it like a hawk and get in if it starts to bolt? probobly both, no.

I was considering this at 5,8c but thought it didnt have much more left in it. How wrong. but now im thinking the same at 6,3.

bye all

 

[Raging Bull]

Re: PEN - Peninsula Minerals

A Q for the experinced ones,

Say you came accross PEN today, like me. On what basis do you decide to get in or not? Wait till end of day? Or watch it like a hawk and get in if it starts to bolt? probobly both, no.

I was considering this at 5,8c but thought it didnt have much more left in it. How wrong. but now im thinking the same at 6,3.

bye all

Toc,

I sooo feel the same way!!

 

[SevenFX]

Re: PEN - Peninsula Minerals

A Q for the experinced ones,

I was considering this at 5,8c but thought it didnt have much more left in it.

How wrong. but now im thinking the same at 6,3.

I'm not so experienced, but 5.8 could of being that magical .618 fib ratio, hence being a stronger rally back up...????

5.8 was also a low on the rsi, and macd, but these are all just lagging indicators.

 

[tech/a]

Re: PEN - Peninsula Minerals

The safest way if a stock pulls away from you is to buy in smaller parcels as it breaks out from pockets of consolidation.This is hard to do if you dont have the gear.
BUT best to do ease in and if it does reverse quickly then it wont hurt as much.
Stocks dont generally rise more than 30% in a single day and are undr great stress to continue performing.
I personally have more congidence buying into a stock which has had a long consolidation and a steady rise.
PEN has not shown as yet a great deal of volatility and steady rising---a good sign for continuation----but that can change.

Here is a 1 min chart showing those breakouts that could have been bought.
If it was me I would just add at each point. You can then treat each buy or combination of buys as a singular trade.

Hope this helps.

 

[toc_bat]

Re: PEN - Peninsula Minerals

I'm not so experienced, but 5.8 could of being that magical .618 fib ratio, hence being a stronger rally back up...????

5.8 was also a low on the rsi, and macd, but these are all just lagging indicators.

thanks tekmann,

beleive me, everyone here is more experienced than me. im rank beginner.

atm i think ive missed this one, wil watch it for the rest of the day to see close, maybe i can paper trade it. ive got badly stung in the last few trades by rushing in at the top, thinking it was middle, only to end up loosing on what would have been a super trade if only i was 3 days, even 1 day, sooner.

 

[nizar]

Re: PEN - Peninsula Minerals

thanks tekmann,

beleive me, everyone here is more experienced than me. im rank beginner.

atm i think ive missed this one, wil watch it for the rest of the day to see close, maybe i can paper trade it. ive got badly stung in the last few trades by rushing in at the top, thinking it was middle, only to end up loosing on what would have been a super trade if only i was 3 days, even 1 day, sooner.

Make sure you use stops.
The key to successful trading (not that i classify myself as successful) is to only lose a little bit of money when you are wrong. Because you will be wrong often.

Look for volume breakouts. DYL, AUZ, AIM, etc all ran for several days. You could miss the first part of the move and still catch a major part of it, or some part of it.

But you must evaluate your psychology and trading style. Can you handle to make several losses but then you catch the big R-multiple move? Overall profitable but it means you will be wrong often. If being wrong alot on the same stock will make you hesitate on re-entry, then this type of entry is not for you.

ALternatively - Maybe use wider stops. You'll be "right" more often but no big wins but as long as its bigger than average loss and win% is greater than 50% (possible in short-term moves), its overall profitable. But make sure the stop means something ie. indicates a change in trend, whether that be the intraday trend, or daily, depending on your trading timeframe.

Daily is better. Most big moves take several days to play out if you want the big wins.

Just my opinion of course.

 

[toc_bat]

Re: PEN - Peninsula Minerals

wow nizar i appareciate your reply,

but what about AEX, im looking at that since was it yesterday when tech mentioned it, looks like it has made move, first big vo,ume day for a while, strong up in price all day, would you go in that one for tomorow? just on the basis of price volume alone

also if Pen was to finish at 6,2-6,5 mark, would that be an indicator for you to hold? or buy? or would you wait and see in the morning to possibly avoid a sell off?

must reboot, pc is all over the sohw, maaan

 

[SevenFX]

Re: PEN - Peninsula Minerals

What Nizar said is All Good,

Also add, that there ALWAYS another great trade tommorow, or the day after, IF you still have capital/trading left and haven't blown it.

Takes the urgency out of today, and tommorow a be another trade, only you will be the wiser.

Also trade for experience, not for profit initially...till your trades tell you otherwise.

EDIT: perhaps only research 1 (2max stocks) and get to know them well, b4 trading them, and don't get drawn away by other stocks flying through the roof as tempting as they seem.

SevenFX.

 

[toc_bat]

Re: PEN - Peninsula Minerals

so purely on price and vol, which would you go for tek? PEN, AEX, INL

or all 3?

i think ill paper trade them all,

now wheres that pesky pencil rolled off to .....

 

[toc_bat]

Re: PEN - Peninsula Minerals

tech/a

thanks for your charting and insights and experience, much appreciated

so will you hold PEN? or is that a decision you make just prior to close, unless of course it started to collapse now

 

[SevenFX]

Re: PEN - Peninsula Minerals

so purely on price and vol, which would you go for tek? PEN, AEX, INL

or all 3?

i think ill paper trade them all,

now wheres that pesky pencil rolled off to .....

I don't make recomendations because I'm 1st year apprentice here, and also strongly feel, each person should make those decissions on where the price action is.

This is all part of the art of trading, learning to find where the action/money is.

I prob asked the same q.'s and got few opinions which led to losses, but don't blame anyone but myself for any profits or loses.

SevenFX

 

[tech/a]

Re: PEN - Peninsula Minerals

out at .062 looking for pullback may re enter before close--may not.

 

[tech/a]

Re: PEN - Peninsula Minerals

Update.

 

[toc_bat]

Re: PEN - Peninsula Minerals

tech/a

by pullback you mean a bullish rise towards the end? to signal a resurgance in buying, which would indicate that the trend ought to continue tomorrow as well?

 

[nizar]

Re: PEN - Peninsula Minerals

out at .062 looking for pullback may re enter before close--may not.

Me too at 0.059.
Came back from the gym its at 6.1, then 6.0, then im gone.

Tech 6.5c isnt an obvious resistance point, otherwise im sure you wouldve done a WMT job and exited at 6.5c

 

[tech/a]

Re: PEN - Peninsula Minerals

A pullback is whats happening now what Im looking for is how deep it falls and how well its bought back up toward the close---can tell a lot re tommorow.

The day traders are selling out now---what I want to see is if there is an abundance of new buyers willing to bid the stock back up.

 

[MalteseBull]

Re: PEN - Peninsula Minerals

not moving past .059