Australian (ASX) Stock Market Forum

So what am I getting myself into?

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barney said:
The V8 Supercar was a hypothetical representation of my first trading account which was well over the $50,000 figure mentioned earlier ....... I crashed and burned that account unceremoniously, which is why I shudder when I see traders recommending new traders save up their base capital before learning how to lose correctly!!
Click to expand...

Lol. I really thought you had a V8 Supercar... I even thought of googling ex-V8 car drivers named Barney. But I better things to do :D

Anyhow, $50k is not the answer to success, and neither is $1k.
 
Anyhow, $50k is not the answer to success, and neither is $1k.
Click to expand...

Undercapitalization isnt a pre curser to success either.
Other than Luck.
I dont know of any other road to success with a K or So.
Please enlighten me.
 
Well
If I had ONLY $1000.

Perhaps surprisingly

Id be very short term trading.
Momentum trades in small caps
with tight stops. Very short term
Day or a few day trades.
1 at a time.
Re investing profit.

Here is some of todays flyer's---a couple here with some great volume
Id dis guard the really low volume prospects.

Sure you have to learn what to look for set up---both in and out of a trade.
But worth doing.

IN/OUT/GONE.


Momentum.gif
 
tech/a said:
Well
If I had ONLY $1000.

Perhaps surprisingly

Id be very short term trading.
Momentum trades in small caps
with tight stops. Very short term
Day or a few day trades.
1 at a time.
Re investing profit.

Here is some of todays flyer's---a couple here with some great volume
Id dis guard the really low volume prospects.

Sure you have to learn what to look for set up---both in and out of a trade.
But worth doing.

IN/OUT/GONE.


View attachment 44463
Click to expand...

you would have to get good at reading volume.

Alot of the ones i have seen jump quickly cant really maintain.

How can you be sure that you are buying on the climb and not at the peak?
 
There certaintly are ways of detecting opportunity and there are ways of detecting exhaustion.
You would need intraday data though.
You would need a few 1000 hrs study of VSA and some more perhaps 1000 hrs reading charts.
It does become pretty obvious.

Here is an example Ive been trading VSA around 5 yrs.

Here is todays SPI Im trading and how Ive spotted trades and traded them.
If you look carefully youll see how and why I made decisions.

(1) Wide range bar ultra high volume.
(2) 2 bars together with higher than normal volume often indicate
exhaustion of Demand OR Supply.
(3) Decision points have more relevence at Support or Resistance levels.
Often Support and Resistance is EXCEEDED in Futures due to stops being taken out!

Click to enlarge

Reading volume.jpg
 
There you go, T/A - you worked out a strategy suited to your style of trading with the percieved minimum starting amount of 1K. Awesome :D
 
No.

I find a lot is bells and Whistles unfortunately purely because the general public (And a lot are sold to the Asian Countries) like lots of indicators and lines.

The Diamonds are nothing more than an M/A---disappointing Eh!
 
So you use only OHLC bars and volume? That is pretty awesome man - a definite display of experience.

Lol, maybe those others are like me and feel smarter while using stochasitcs, M/A and MACD :p Volume ofcourse :p
 
TECH . Yes I guessed the diamonds were MA. After having read some of your older posts onVSA , and read Master Markets I have been trying to use VSA to follow some stocks. But like you and others have said there is no magic bullet. However VSA does explain a lot of price action that was previously a complete mistery. Do you find VSA throws more light on stocks with high volume rather than thinly traded?Any hints or references on VSA would be most welcome!! I have looked at a number of the other threads relating , but may have missed some.
 
LostMyShirt said:
So you use only OHLC bars and volume? That is pretty awesome man - a definite display of experience.

Lol, maybe those others are like me and feel smarter while using stochasitcs, M/A and MACD :p Volume ofcourse :p
Click to expand...

Not even Open ---not required.

5oclock said:
TECH . Yes I guessed the diamonds were MA. After having read some of your older posts onVSA , and read Master Markets I have been trying to use VSA to follow some stocks. But like you and others have said there is no magic bullet. However VSA does explain a lot of price action that was previously a complete mistery. Do you find VSA throws more light on stocks with high volume rather than thinly traded?Any hints or references on VSA would be most welcome!! I have looked at a number of the other threads relating , but may have missed some.
Click to expand...

Its really experience.
A lot that I use is from observation and not available in books.
Well not that Ive seen and I havent published one reciently!.

Im happy to start a thread and do some RIGHT HAND page analysis on charts thrown up.
Ill Start a VSA analysis discusssion thread.
 
TECH , Sounds good ,if you can spare the time I am sure that a number of others are interested and would value your experince on subject!!!
 

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