Position trading and holding a job

[SamLau]

Hi all,

I've been investing/trading now for 6 months. I work as a technician 5 days a week. I just wanted some advice from people who are in the same situation.

I try to open a position each time i can save up 10K. I have 4-5 positions open at a time. When is the best time to place a trade, before open, morning or arvo? Any other tips or advice would be appreciated

Thanks in advance.

 

[So_Cynical]

Re: Position Trade & holding a job

Hi...i have a day job too so im forced to place limit orders over nite and just hope i get filled, this leads to alot of missed opportunity's and frustration.

I prob should just get a lappy and wireless account....i have 5k positions, 2 or 3 at a time.

 

[gfresh]

Re: Position Trade & holding a job

Obviously these are not hard and fast rules, and can depend if you're buying or selling, but they seem to work for me..

Around 11am is not bad after the morning rush slows down.. If the stock jumps 10-10:30a, usually people use the opportunity to sell into strength, so you don't want to be buying into that.

Again at about 3pm generally you can tell where the trend is going to be until the closeout by having a look at the VWAP throughout the day.

 

[Trembling Hand]

Guys this doesn't have to be a guessing game. It took me 2 min to whack BHPs OHLC data into a spread sheet and find out that since the start of 2008 BHP has offered a better entry on the close each day rather than the open. Marginally so but,

Last 378 days - close price was lower than open 55% of the time.

Now if I was putting my hard earned on the line this kind of MOST BASIC stock behaviour would be my first call. Way way before I wasted time on TA.

 

[jono1887]

Guys this doesn't have to be a guessing game. It took me 2 min to whack BHPs OHLC data into a spread sheet and find out that since the start of 2008 BHP has offered a better entry on the close each day rather than the open.

Where do you get this data from?

 

[Trembling Hand]

Where do you get this data from?

Doesn't every trader have a reliable source of data at their finger tips

But if you don't you could try here for example,

http://au.finance.yahoo.com/q/hp?s=BHP.AX

 

[beamstas]

Here is the ASX-50 with the % of time closing higher, and % of time closing lower, over the last 250 trading days (approx a year)

if it closes up more often, it's probably better to buy on the open, if it closes down more often, it's probably better to buy on the close.

Ticker	Date/Time	%up	%dn	
AGK	31/07/2009	0.4720	0.5280	
AMC	31/07/2009	0.5240	0.4760	
AMP	31/07/2009	0.4160	0.5840	
ANZ	31/07/2009	0.4880	0.5120	
ASX	31/07/2009	0.4840	0.5160	
AWC	31/07/2009	0.4840	0.5160	
AXA	31/07/2009	0.4800	0.5200	
BHP	31/07/2009	0.4600	0.5400	
BSL	31/07/2009	0.4320	0.5680	
BXB	31/07/2009	0.4560	0.5440	
CBA	31/07/2009	0.4880	0.5120	
CSL	31/07/2009	0.4480	0.5520	
CWN	31/07/2009	0.5320	0.4680	
FGL	31/07/2009	0.4600	0.5400	
FMG	31/07/2009	0.3880	0.6120	
FXJ	31/07/2009	0.4320	0.5680	
GMG	31/07/2009	0.4320	0.5680	
GPT	31/07/2009	0.4080	0.5920	
IAG	31/07/2009	0.5160	0.4840	
LEI	31/07/2009	0.4640	0.5360	
LLC	31/07/2009	0.5520	0.4480	
MAP	31/07/2009	0.4840	0.5160	
MGR	31/07/2009	0.4640	0.5360	
MIG	31/07/2009	0.4680	0.5320	
MQG	31/07/2009	0.4480	0.5520	
NAB	31/07/2009	0.4480	0.5520	
NCM	31/07/2009	0.4720	0.5280	
NWS	31/07/2009	0.5680	0.4320	
ORG	31/07/2009	0.4440	0.5560	
ORI	31/07/2009	0.5080	0.4920	
OZL	31/07/2009	0.3520	0.6480	
QAN	31/07/2009	0.4560	0.5440	
QBE	31/07/2009	0.4440	0.5560	
RIO	31/07/2009	0.5200	0.4800	
SGP	31/07/2009	0.4680	0.5320	
STO	31/07/2009	0.4360	0.5640	
SUN	31/07/2009	0.4480	0.5520	
TAH	31/07/2009	0.4640	0.5360	
TCL	31/07/2009	0.5000	0.5000	
TEL	31/07/2009	0.4520	0.5480	
TLS	31/07/2009	0.4360	0.5640	
TOL	31/07/2009	0.4320	0.5680	
VBA	31/07/2009	0.3520	0.6480	
WBC	31/07/2009	0.4960	0.5040	
WDC	31/07/2009	0.4600	0.5400	
WES	31/07/2009	0.4760	0.5240	
WOR	31/07/2009	0.4760	0.5240	
WOW	31/07/2009	0.4640	0.5360	
WPL	31/07/2009	0.4440	0.5560

 

[Trembling Hand]

Brad??

Is that from yesterdays close? or open to close?

 

[beamstas]

Each days Open and Close.
If the close is greater than the open, it's labelled an up day, if the close is less than the open it's labelled a down day.

It's probably not right i just whipped it up in a couple of seconds in amibroker.

x = 250;
aa = IIf(C>O,1,0);
Updays = Sum(aa,x);
downDays = x-updays;
up = updays/x;
down = downdays/x;

Filter=1;
AddColumn(up,"%days UP",1.40);
AddColumn(down,"%days DOWN",1.40);