Your day in the Market - Market Commentary

[rub92me]

So did anybody have a good day today I wonder? Even my strongest performers got hit a bit today. Still up for the week (thank you Admiralty), but don't want to see another day like today thank you very much

 

[UPKA]

So did anybody have a good day today I wonder? Even my strongest performers got hit a bit today. Still up for the week (thank you Admiralty), but don't want to see another day like today thank you very much

i've been hit pretty hard this week, things seemed sweet till monday!! managed to pull few out be4 the losses got too great. i guess good to offset against CGT...

 

[CanOz]

The only way to describe my run lately is RED. I'm trying to develop a system, but managing stop losses is a full time job. Because of internet problems and changing brokers i recently just got back into the market. A new strategy has just seen nearly 18 consecutive losses in a row. My win/loss rate is appalling. I'm not even opening any new positions, just gradually getting stopped out of my portfolio, even lost TAP today after i moved the stop to breakeven the other week.

If there was ever a bad time to re enter the market i picked it.

I'll be lucky to recover from this emotionally. All the reading you do does not prepare you this.

This really sucks.

 

[Gundini]

Might as well fire this thread back up, more blood on the streets...

I suppose the question again is, "Shopping day or Stay away"...

Fortunately, not too exposed myself, picked up RMD and TLS after their huge falls, so sheltered to a certain extent.

Interested on Techs view, think he will be in the Stay away boat. I cleared out my portfolio after he unloaded his long term holdings. Very good reading of the market and excellent timing. Thanks for the heads up Tech...

 

[insider]

I'm getting rid of everything I own... MTN and CTS... I Had enough with this US crap... XAO will fall more and I can see MTN falling down about a dollar today

 

[black_bird2]

BOHICA - bend over here it comes again.

 

[justjohn]

BOHICA - bend over here it comes again.

Black bird you forgot two words BRACE YOURSELF

 

[nioka]

My theory of "buy on Fridays and sell Tuesdays or Wednesdays" has some validity so far this week. Everything I have is in the red today ( except for ESI which is in a trading halt) after a good week up till now. Guess I'll go fishing. A bad day fishing is better than a good day at the office anyway.

 

[hector]

The only way to describe my run lately is RED.
I'll be lucky to recover from this emotionally. All the reading you do does not prepare you this.

This really sucks.

Hi Canuckie,

I remember your post just prior to then that you were largely in cash because of your concerns of overheating in Shanghai Market. So you can't be too far off the mark with your trading.

I've been largely out of the market since Feb 28th. I was day-trading between jobs and although I averaged 10% a week for February, I lost a good part of that by not setting stops before going out for coffee on the 27th. 'The market looks strong', I thought, and left for the afternoon!

I found the emotional energy required for day-trading was very demanding, and then to lose my winnings was quite a knock, as you are experiencing now. So for me it was back to work and I've held only one stable long-term position since then (5% per month).

I've missed out on some excellent trading opportunities in this time but needed to take a clean break. Time and other recreations are a great restorative - I'm now ready to re-engage and will use a time-frame less demanding for my personality-type.

So, you won't be out for long, but you should probably take a break. The best advice I received recently for Bullish and volatile conditions is to take smaller positions with wider stops.

All the best,
hector

 

[hector]

Sorry, Canuckie, I just realised this reply is 6 weeks late!
hector

 

[Gundini]

What a crappy day, all too familiar of late. Survived the open, but gave back a bit trying to pull out somes day trades on ZFX and BHP. Unfortunately they didn't recover as I expected, so another donation made by me... Alot of people feeling a lot of pain today I would think.

Is it over? Doubt it....

 

[CanOz]

What a crappy day, all too familiar of late. Survived the open, but gave back a bit trying to pull out somes day trades on ZFX and BHP. Unfortunately they didn't recover as I expected, so another donation made by me... Alot of people feeling a lot of pain today I would think.

Is it over? Doubt it....

I know if i were still holding any longs, i would want to be hedging them with CFDs.

Luckily the market is giving some back to me now...and so it should!

Cheers,

 

[MS+Tradesim]

Well, I made 32% last week and 22% this week on my trading account. Long only, shares only. A couple of open trades floundering but even if they swing all the way to stop losses will not dent the returns much.

In this environment day trading is leaving my mechanical trend system for dead. When the market finally turns I'll have a nice addition of capital to put into trends again. IMI, EGO, and MBL have all added nicely for short term moves.

Sorry to hear others have not fared so well.

 

[Boyou]

RED and Gold today

Red for my small miners and Gold for my physical gold shares

Thinking I should have got out on 26 July..but hung in to see how scary it could get....not even raising a sweat ..yet!

I'm backing gold to go ballistic soon..then I can get rid of my nappy!

Cheers Ya'll

 

[nizar]

Well, I made 32% last week and 22% this week on my trading account. Long only, shares only. A couple of open trades floundering but even if they swing all the way to stop losses will not dent the returns much.

Good effort brother.