Potential & Breakout trading--Technical tips and tricks

[Boggo]

What would be great - though extra work for those posting - would be a second chart not too far behind the first, showing us how the trade worked out.

RRL may be an example Ruby, both entry and exit charts.

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[Boggo]

And another example Ruby.

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[tech/a]

Boggo.
My thoughts on LYC



Also RRL

 

[Boggo]

My thoughts on LYC

Also RRL

Thanks tech/a. Your analytical ability is more specific and more detailed than mine but I think we are on the same page and pointing in the same direction.

 

[Boggo]

A follow up to a previous post
https://www.aussiestockforums.com/forums/showthread.php?t=20906&p=588531&viewfull=1#post588531

and an example of my reasoning in my post on LYC
https://www.aussiestockforums.com/forums/showthread.php?t=20906&p=602281&viewfull=1#post602281

Don't read this as a brag, it is an example of one that continues in the right direction and how I keep up with it.

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[Boggo]

Stopped out of WTP today for a small loss.

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[Ruby]

And another example Ruby.

Thanks Boggo. It makes it much more meaningful to me to see the end result.

Cheers,

Ruby

 

[tech/a]

Seems BOGGO and I are very similar in finding prospects.
CPL is one chart worth bringing up again as its one that both are trading.
the characteristics of this trade are very important to grasp and you'll see some old favorites again.
(Small Tight Consolidation and a Very Very low volume down bar,gap out to breach the resistance.)



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[Boggo]

A follow up on USA from my last post
https://www.aussiestockforums.com/forums/showthread.php?t=20906&p=602308&viewfull=1#post602308

I don't get attached to any individual stocks but when a stock has a strong upward trend I keep tabs on it.

In this case on USA yesterday's low was a significant area. Can it hold or will it continue down to 61.8.
It may be worth watching just for interest.

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[skc]

A follow up on USA from my last post
https://www.aussiestockforums.com/forums/showthread.php?t=20906&p=602308&viewfull=1#post602308

I don't get attached to any individual stocks but when a stock has a strong upward trend I keep tabs on it.

In this case on USA yesterday's low was a significant area. Can it hold or will it continue down to 61.8.
It may be worth watching just for interest.

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Boggo, heaps of great stuff on this thread. Thanks for all the time and sharing.

Have you ever considered using peer company or sector index to filter some of your breakout candidates? Just an observation I've made through my own pairs trading which analyse companies against each other.

E.g. USA is a specie uranium company. If many other uranium companies have recently broke upwards, then probability of USA doing the same is higher.

It's probably not very useful for the smallest companies where individual factors are more important (e.g. drilling, corporate rumours), but may be useful for larger firms.

Sorry to bring fundamentals into a technical thread!

 

[tech/a]

SKC

I once made up my own Index Chart of Uranium Companies and used that as an indicator similar in a way (technical) to what your saying.

I lost it and all its constituents in the last Hard drive melt down!
Was handy
Could do the same with sub type groups of your own.
Have done it with my portfolio. (make up my own index).

 

[Boggo]

Boggo, heaps of great stuff on this thread. Thanks for all the time and sharing.

Have you ever considered using peer company or sector index to filter some of your breakout candidates? Just an observation I've made through my own pairs trading which analyse companies against each other.

Hi skc, tech/a has done most of the work on here, I see where he is coming from with his no nonsense approach to trading and that style of "its either making money or its out" approach is getting great results at the moment and it fits with my preferred method, ie, just simple breakouts.
It does take a bit more end of day involvement than I have contributed in the past but so far its a case of the harder I work the luckier I get.

My only index association is that I only scan the S&P ASX300 but I currently hold two stocks that are not in the ASX300 (AYN and PRR) with their entry based on non technical factors and they are in an account that is probably more of small gambling experiment account.
There are a lot of very tradeable quality stocks below $5 in the ASX300 and they usually have good volumes and satisfy the requirements of the larger investors.

For me, posting trades on here and being involved also has the effect of satisfying some of the conditions suggested on page 32 of Brett Penfold's 'The Universal Principles of Successful Trading'.

Cheers


Chart of GRY below, getting close to the stop today but it will be a profitable trade if I get stopped out.
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[tech/a]

OK

Here's a little hint.
I find a lot of prospects a day before they come up on any screens --HERE.
This is where I found PSF.
Nice and early and a little beauty----so far!

http://au.finance.yahoo.com/gainers?e=ax

Look for good volume without a great deal of price increase and check to see if the chart is a breakout! That easy.
You get onto some real runners.

 

[Boggo]

Bummer, just had a look at that site tech/a. BTA is on there and it came up in my heads up scan of the ASX 300 on the 29/12.
I ignored it because it has had a few attempts at similiar breakouts without success.

Nice run since then, up another 10% today, you get that eh !

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[daki]

Hi guys, some great work in here, can I ask what platform you use to look at the stocks?

 

[tech/a]

Daki
I use Metastock,and Tradeguider EOD.
but any trading platform would suit.

Boggo
I would have rejected it as well.
we wont get them all but we will get enough.
3rd losing day in a row.
Doing some culling and buying.

 

[suhm]

Not really sure how to post a chart and only have the etrade interactive chart to look at but does bta, biota look like a breakout that will continue. Looks like a bit of extra volume over the last couple of days but on no new news to my knowledge. Has been consolidating for the last few months.

 

[tech/a]

SUHM

My opinion.
Wont have time to be so helpful once I'm back at the office Monday.
Still hope this helps

BTA

 

[jimmyizgod]

Hi Tech/a & Boggo,
First of all thankyou for all your postings on this thread - its becoming a large part of my education in technical trading. you guys posting stuff like this i think contributes massively to ASF, so a shout out to you.
Im looking into some charting software and ive tried out a few, im currently using the free version of incredible charts at the moment and before paying for the full version i'd just like to know what you guys are using for the charts you're posting in this thread?

cheers.
jim

 

[jimmyizgod]

Hi Tech/a & Boggo,
First of all thankyou for all your postings on this thread - its becoming a large part of my education in technical trading. you guys posting stuff like this i think contributes massively to ASF, so a shout out to you.
Im looking into some charting software and ive tried out a few, im currently using the free version of incredible charts at the moment and before paying for the full version i'd just like to know what you guys are using for the charts you're posting in this thread?

cheers.
jim

sorry techa i missed your earlier post re what software you use. pls ignore me.
the thanks still stand but