wayneL
VIVA LA LIBERTAD, CARAJO!
- Joined
- 9 July 2004
- Posts
- 25,951
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- 13,244
I reckon that's a subjective assessment.
errrr... You're preaching to the converted there old bean
I reckon that's a subjective assessment.Absolutely objective.
Technical analysis is precise and very effective for the disciplined. Anyone can learn it but there is a fair bit to learn. But once you have it you soon recognise that it is basically following just the chart.
I reckon that's a subjective assessment.
errrr... You're preaching to the converted there old bean, but not sure I'd categorize it at precise, even if very effective.
A fixed entry criteria (which is a lot of things) and a fixed percentage trailing stop loss?
All subjectively decided.
The point I'm trying to get to plod is that it is dangerous to label someone as the best without knowing every detail AND without knowing about those who are a bit quieter for comparison.
Tech's contribution contribution is certainly valuable but I'm sure even tech himself would shy away from "the best" tag.
Know a lad who works for an independant trading company in Holland and they computer trade, sometimes in an out in seconds, all to very fixed and set criteria.
From a book by Michael Covel "Trend Following" I worked out a fixed systen which would identify stocks who had moved sideway for about 6 months and on an uptick of 10% would enter the trade with a fixed stop loss of 5%. I made 60% for the financial year of that system. About 6 trades in 10 failed but the winners made the money.
I believe that learners should as part of the process to trade by very fixed rules/criteria system in the beginning.
Could not rest without tailing my thoughts off on this Waynel. cheers mon ami
It will be noticed that I rarely post on any stocks anymore.
Because I have found profit in following pump and dump posters.
Beware, I have been trading for many years and know it is very dangerous territory.
Technical analysis is the best recommendation I could make to anyone starting off. Best on ASF is Tech and overall Daryle Morely, day trader, Herald Sun. His pivot point system is excellent if you follow all the rules.
... - good fortune my friends.
Help needed!
If a company has been pumped and dumped,
how do you know if it's current price is above or below intrinsic value?
I think I'm asking for a simple formula?!
Kev, Telegram is the messenger app? Sounds interesting. Can you cut and paste the text in from the Fin as it's paywalled. Or a screen shot? Tks, kennasIn this Australian Financial Review article earlier today, ASIC is quoted as saying in a Telegram post:
“We can see all trades and have access to trader identities. We’re monitoring this platform and we may be investigating you. You run the risk of a criminal record, including fines of more than $1M and prison time by being involved.”
The article goes on to say that the posting has been confirmed by ASIC. Hopefully this will be the start of a reduction in much of this pump and dump madnesss, at least in Australia, letting stocks in the the small cap area of the market return to some kind of normality.
KH
the text is as stated by @KevinBB . Short and sharpKev, Telegram is the messenger app? Sounds interesting. Can you cut and paste the text in from the Fin as it's paywalled. Or a screen shot? Tks, kennas
The post was not taken seriously. One user said the post was sent by someone “from another telegram group trying to spook people here. ASIC don’t send messages like this”. Another said it was, “fake ASIC”.
Interesting that you both ticked this after all the years.Know a lad who works for an independant trading company in Holland and they computer trade, sometimes in an out in seconds, all to very fixed and set criteria.
From a book by Michael Covel "Trend Following" I worked out a fixed systen which would identify stocks who had moved sideway for about 6 months and on an uptick of 10% would enter the trade with a fixed stop loss of 5%. I made 60% for the financial year of that system. About 6 trades in 10 failed but the winners made the money.
I believe that learners should as part of the process to trade by very fixed rules/criteria system in the beginning.
Could not rest without tailing my thoughts off on this Waynel. cheers mon ami
Interesting. I'm part way through the book. Not yet at the stage where Michael, and the other writers, talk about systems.From a book by Michael Covel "Trend Following" I worked out a fixed systen which would identify stocks who had moved sideway for about 6 months and on an uptick of 10% would enter the trade with a fixed stop loss of 5%. I made 60% for the financial year of that system. About 6 trades in 10 failed but the winners made the money.
ASIC are at it again, warning users in an online forum (not ASF) channel that they are watching their pump and dump efforts. Still wondering if they will follow through with all this talk.
Link to article from AFR online version
KH
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