Australian (ASX) Stock Market Forum

Practising Charting Skills

Jump to new
Aussiest said:
It's an open forum Brad. I'm sure none of WEEP0's posts were directed at you.

:confused:
Click to expand...

Aussiest said:
Yeah, i'm champing at the bit to read whatever book that is. (note i had already said) Of course, fundamentals and news items have nothing to do with a share price. Not to mention the supply and demand (of steel in this case).
Click to expand...

Why'd you post this then?
I had already said i labelled it as a PPS triangle
I have no ideas of the fundamentals of BSL and i don't care to tell the truth

I was simply giving what i said was my opinion

Now do i have to keep saying the same thing over and over or is it going to sink in?

Next time you jump on a thread and start firing off posts -- read it first
 
kennas said:
He's abusing me Aussie, not you, so no dramas! I really love new members abusing me.
Click to expand...

Go back through the thread
You are the one who jumped on with an attacking comment to deface my post
(Even though i had already clarified my analysis)

Anyway -- i don't have time for this

I've stated the reasoning behind my analysis, and it was exactly that, an analysis. Obviously the price action has proved me wrong and that is fine :)
 
beamstas said:
Why'd you post this then?
I had already said i labelled it as a PPS triangle
I have no ideas of the fundamentals of BSL and i don't care to tell the truth

I was simply giving what i said was my opinion

Now do i have to keep saying the same thing over and over or is it going to sink in?

Next time you jump on a thread and start firing off posts -- read it first
Click to expand...
Can we have a discription of a PPS triangle?
Doesn't seem to be in this thread.
Maybe a link somewhere?
Cheers.
 
beamstas said:
Go back through the thread
You are the one who jumped on with an attacking comment to deface my post
(Even though i had already clarified my analysis)

Anyway -- i don't have time for this

I've stated the reasoning behind my analysis, and it was exactly that, an analysis. Obviously the price action has proved me wrong and that is fine :)
Click to expand...
Obviously you have no time for this.
 
kennas said:
Can we have a discription of a PPS triangle?
Doesn't seem to be in this thread.
Maybe a link somewhere?
Cheers.
Click to expand...

Sure
A price consolodation that has 5 internal points and "coils" ie: the price action comes into a very tight range, and the volume drops off. When the triangle breaks it is on very high volume and is a powerful move.

Obviously in a downtrend the triangle theoretically should break downwards. High volume is also bearish as it indicates there is still plenty of supply.

The link i provided is a fair enough description -- they are outlined in much more detail in Curtis Arnolds PPS Trading Strategy Workbook

Not sure about a link, as im not sure you can get the workbook free on the net anywhere, i'll have a look.
 
Aussiest said:
Of course, fundamentals and news items have nothing to do with a share price.
Click to expand...

I was being sarcastic. Know what that is?

I commented on the thread because i wanted to. Get it?

My opinion is that fundamentals and news releases affect the share price. No 'firing off' here ;)

Sorry Bonkerrs..
 
beamstas said:
theoretically should break downwards
Click to expand...

Just as a matter of interest, why all this theory? You have posted elsewhere that you know nothing about some of the companies you have been paper trading.

Do you not think that fundamentals and news releases play into the SP? (no, i think you have already answered this one).

Do you not think that psychology also plays into it? Do you not think that humans can act irrationally and sometimes drive the price up or down?

I am actually really curious as to how you think somebody can trade purely from charts? And, no, this is not a TA vs. FA question. It is merely a personal question directed at you.

I am actually geniunely curious!

Does it not disturb you to know nothing about a companies fundamentals?
 
Aussiest said:
My opinion is that fundamentals and news releases affect the share price. No 'firing off' here ;)
Click to expand...
This is an interesting discussion, but probably for another thread.

The market is about perception and expectation so anything outside of the expected, or perceived, could be good or bad.

The news releases you might describe could send a stock either way depending on expectations and percepions, less black swan events.
 
Aussiest said:
Does it not disturb you to know nothing about a companies fundamentals?
Click to expand...

Don't know what you are saying about paper trading
I show my results on a paper trading situation in my own thread -- but i do actually trade them.

To answer your question -- no.

Currently holding
IAU
TRY
IVC
IPL

I know TRY is Troy Resources -- that's the only name of those i know
I don't know what they do
I don't know what sector they are in
I don't know any recent news
I don't know what their market cap is or what their balance sheet looks like

Today has been a relaxing day +6% on holdings
Market is up +1.6% so im not complaining :)

Can i ask you a question?
Why do you feel the need to know the companys fundamentals?
 
OK, gents, please. This is purely about charts.

No fundamentals required.

Let's move on.
 
Aussiest said:
Do you not think that fundamentals and news releases play into the SP? (no, i think you have already answered this one).

Do you not think that psychology also plays into it? Do you not think that humans can act irrationally and sometimes drive the price up or down?

I am actually really curious as to how you think somebody can trade purely from charts? And, no, this is not a TA vs. FA question. It is merely a personal question directed at you.

I am actually genuinely curious!

Does it not disturb you to know nothing about a companies fundamentals?
Click to expand...

Aussiest What are you talking about??

I trade index futs without even knowing how many companies are in that index let alone if they make any money or not :confused:

I would be really interested in seeing 10 of your trades bases on news announcements.

EDIT: Maybe you could start another thread and show us.
 
Trembling Hand said:
Aussiest What are you talking about??

I trade index futs without even knowing how many companies are in that index let alone if they make any money or not :confused:

I would be really interested in seeing 10 of your trades bases on news announcements.
Click to expand...

Good point TH, you got me there. Although i would say that you could trade the SPI with if you had been watching the market, was up to date with the US and news events (and economic data) with some certaintity couldn't you? I mean, you're either bullish, bearish or in between. You wouldn't just go and trade the SPI with no market knowledge would you? That's what you're suggesting i did.

Trades based on news announcements? Don't know if i'd make a trade based on a single news announcement, but news announcements over time add up and contribute to the share price.

The "dead cat bounce or recovery" thread is a good example. Part of this 'recovery / dead cat bounce' is based on data and news from the US. You can't say that it isn't.
 
Aussiest

Have you ever wondered why share prices don't go up on great news? They always seem to do the opposite?

Fundamentals and "News" are not 100% certain
Price Action Is. Price action doesn't lie

That is why i prefer to look at the actual chart rather than market "perceptions"

News goes on tonight.. someone gets a rave review and all the mums and dads jump in thinking they are getting a killer buy

What they don't know is that they are already trading against the big guys who probably have a dedicated news feed and have already traded accordingly, waiting for the mummies and daddies to buy so that they can sell into them.
 
Aussiest said:
You wouldn't just go and trade the SPI with no other market knowledge would you? That's what you're suggesting i did.
Click to expand...

Well you are wrong. I can make 100s of trades a day roughly 50/50 long/short.

So tell me how is that is influenced by what happened the day before in the US or any other market. If it was then it would be all longs or all shorts. In fact my only interest in yesterdays events are to what degree I will fade them not follow them.
 
Hey Bonkerrs,

That stock looks to be following the general indexes.
And looks like alot of volume since the early march bottom we had across all markets.
Looks like accumulation to me.
Keep watching it, and if the next dip finds good volume then I would be tempted to enter with that volume.

But you may want to check the company is solid, and making money as well.

Good luck.
 

Similar threads

StudentTrader
What are the two main types of market analysis and how can we combine them?
2
Replies
31
Views
4K
tech/a
tech/a
Student of Gann
IB platform
Replies
8
Views
2K
Student of Gann
Student of Gann
W
Entry and exit confirmation signs
Replies
12
Views
2K
willoneau
willoneau
Triathlete
Trading with Price, Pattern and Time
Replies
0
Views
5K
Triathlete
Triathlete
pixel
Pixel's Picks - potential trend reversals off the bottom
2
Replies
22
Views
14K
pixel
pixel
Top