Transitioning to markets available in Australia's time zone

[skyQuake]

Re: A transition to ASX Intraday Equity trading

Hope u gents had fun on that BoJ move!

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

Can you reveal what r.t. scans are of interest if that is not too personal? e.g. Break outs or trend changes.

You can do things such as scanning for momentum, stocks trading at their 52 week high and then at the high for the day (and the low etc.) You can scan for relationship to indicators, such as VWAP, relative volume. You can scan just for gainers/loser and then apply filters for liquidity etc. You can look for risers in the x minutes, etc. Then you can use a bunch of this stuff all together as well. Its nearly infinitely configurable.

 

[Joules MM1]

Re: A transition to ASX Intraday Equity trading

do a little shake, luv a little bake, get up tonight......sing it

cheap supply.....

watch honkers rip its way upstairs

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

Hi Can

Welcome to OZ

Go long young man!!!!!


Aus equity market is pretty small and illiquid and transactionally not very efficient or cost effective. Longer holding periods help minimise these drags.

I know you said you prefer intraday – but if you’re looking at learning a new skill set.......

Even good traders retire someday – how will you manage your money when time doing other things is more important than time spent trading. (a concept you seem to be grappling with already) A long term investing skill set will eventually be required why not start developing it whilst you’re still sharp. To my surprise [when I made the switch] I found long term strategies actually more wealth creating. I use stock picking and valuation as my approach but if this doesn’t appeal I’m sure there is long term charting approaches that could be investigated.

Short term trading knowledge is a great foundation to launch into longer term investing. However the psychology is very different and will probably be the determining factor of suitability.

Any way – just a curve ball to consider, but overall the most important thing is to follow the road of greatest passion – it’s the journey that counts. If trading is your greatest passion then ignore my suggestion if funding and making time available for other passions is the priority then maybe consider.

Cheers

Thanks Craft, great advice. I've always though that combining fundamentals with technicals was a great way to go. Even if that means using a ranking system for momentum and them running the stocks through a fundamental filter.

I've got a couple of things on the go, but i like the intra-day involvement at this stage. Another ten years and i'll be looking for something more passive. I was even considering getting my RG146 and doing some valuation style courses as well.

Like you say, its the journey. I'm enjoying it to the fullest.

Cheers,


CanOz

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

do a little shake, luv a little bake, get up tonight......sing it

cheap supply.....

watch honkers rip its way upstairs

sold of pretty hard after the BOJ announcement....consolidating into lunch now, very illiquid.

 

[notting]

Re: A transition to ASX Intraday Equity trading

Shares have taken a step higher, with more buyers jumping into resources stocks as the start of trade in Tokyo and Hong Kong sees solid gains.

The Nikkei is up by more than 1 per cent ahead of what is hoped will be more easing measures from the Bank of Japan. The Hang Seng is 0.9 per cent ahead.

BHP is 4.4 per cent up, Rio 3.1 per cent, and Fortescue a hefty 5.4 per cent.

Given everything you read in the papers, especially about why the market is moving, is true, it's pretty obvious what should happen now!

The volume actions are happening on the buying side however, perhaps they didn't get the news that the hawks are out.

Close will be interesting

 

[Joules MM1]

Re: A transition to ASX Intraday Equity trading

sold of pretty hard after the BOJ announcement....consolidating into lunch now, very illiquid.

after the knee jerkers finish their, well, ya know, the deep pockets pop for a coffee and some cheap supplies

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

after the knee jerkers finish their, well, ya know, the deep pockets pop for a coffee and some cheap supplies

Honkers is grinding the shorts out at the moment, but i wonder if this has got the bid to test the point at which the market broke on the announcement?

 

[Wysiwyg]

Re: A transition to ASX Intraday Equity trading

Then you can use a bunch of this stuff all together as well. Its nearly infinitely configurable.

Looks similar to Trade Ideas that I was looking at many years ago but Trade Ideas only has U.S. market data feeds from what I can gather. I have a custom trade scanner for 20 ideas in Amibroker e.g.

I1 = ParamToggle("Smart Money", "Off|On");
if(I1)
AlertIf(SmartMoney, "SOUND C:\\WINDOWS\\Media\\bird_chirping2.wav", "Smart Money", 0,1+2+4+8 );
if(I1) 
 AddColumn(C, "Smart Money", 1.2, IIf(SmartMoney, colorBlue, colorWhite));

Y1 = ParamToggle("Price Break Up", "Off|On");
if(Y1)
AlertIf(BreakUp, "SOUND C:\\WINDOWS\\Media\\come_get_some.wav", "Price Break Up", 0, 4+8 );
if(Y1)
 AddColumn(C, "Price Break Up", 1.4, IIf(BreakUp, colorDarkBlue, colorWhite));

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

Yeah i heard that Trade Ideas is a similar product, but as you say olnly for US Stocks.

 

[Wysiwyg]

Re: A transition to ASX Intraday Equity trading

Spark has DDE too so useful for Amib. as an aside.


p.s. I lived in Brisbane for 12 years and left when the Clem Jones was half way under the river. Not a rat race person myself.

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

Spark has DDE too so useful for Amib. as an aside.


p.s. I lived in Brisbane for 12 years and left when the Clem Jones was half way under the river. Not a rat race person myself.

Neither am i, If it was only my choice i'd live in the hills on near the beach....that said i do love it here, lots to do outdoors, lots of cool restaurants, everything handy..

 

[fiftyeight]

Re: A transition to ASX Intraday Equity trading

Hi Can

I found long term strategies actually more wealth creating. I use stock picking and valuation as my approach but if this doesn’t appeal I’m sure there is long term charting approaches that could be investigated.

Maybe I have it all wrong

But long term strategies require a greater amount of capital and will generate less immediate cash flow?

For example, say I hate my job but I have a mortgage and responsibilities and limited capital. I don't see how longer term investing will lead to leaving the rat race any time soon.

However, if someone was to crack shorter term trading their escape could be much quicker....... IF they crack it

 

[Joules MM1]

Re: A transition to ASX Intraday Equity trading

Can, sweeping up the mess, longside janitors are back

 

[craft]

Re: A transition to ASX Intraday Equity trading

Maybe I have it all wrong

But long term strategies require a greater amount of capital and will generate less immediate cash flow?

For example, say I hate my job but I have a mortgage and responsibilities and limited capital. I don't see how longer term investing will lead to leaving the rat race any time soon.

However, if someone was to crack shorter term trading their escape could be much quicker....... IF they crack it

You are right. If you need to draw regular income, use leverage or access other people’s money in some form then the smoothness of your returns is paramount. I'm yet to find a Long term holding strategy that doesn't require an increased tolerance to volatility.

 

[rnr]

Re: A transition to ASX Intraday Equity trading

Maybe I have it all wrong

But long term strategies require a greater amount of capital and will generate less immediate cash flow?

For example, say I hate my job but I have a mortgage and responsibilities and limited capital. I don't see how longer term investing will lead to leaving the rat race any time soon.

However, if someone was to crack shorter term trading their escape could be much quicker....... IF they crack it

Speaking of short term trading, have you considered a mean reversion system?

Compare the equity graphs of both a trend following system and mean reversion system.
You should see why I make the comment.

 

[Gringotts Bank]

Re: A transition to ASX Intraday Equity trading

Neither am i, If it was only my choice i'd live in the hills on near the beach....that said i do love it here, lots to do outdoors, lots of cool restaurants, everything handy..

http://www.realestate.com.au/property-house-qld-sunshine+beach-121013534

 

[fiftyeight]

Re: A transition to ASX Intraday Equity trading

Speaking of short term trading, have you considered a mean reversion system?

Compare the equity graphs of both a trend following system and mean reversion system.
You should see why I make the comment.

Yeah I have had a look at equity curves for a number systems.

Intraday I always seem to be looking to fade, just the way I am. I actually knew this would be the case before I placed at trade. Im sure I posted something about in one of my first posts haha

 

[CanOz]

Re: A transition to ASX Intraday Equity trading

http://www.realestate.com.au/property-house-qld-sunshine+beach-121013534

Nah, it's under contract mate. We're going up there first weekend in may for a look...Internet sucks up there though...

 

[Gringotts Bank]

Re: A transition to ASX Intraday Equity trading

Nah, it's under contract mate. We're going up there first weekend in may for a look...Internet sucks up there though...

Radge lives in Noosa. He seems to cope ok.