Thanks Dr B, Im SBing.
Thanks Dr B, Im SBing.
dr.blix
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INGG @ be.
dr.blix
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sorry to hear that minch.
been a rough day today i think.
RGM down 11%, DISL and INGG haven't moved.
does anyone have any good news?! ciao? geo?
Geofract
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Well I have shorted the FTSE at around 5245 cash price, hoping for Gap fill to 5160 ish. Completely countertrend! If I get stopped, then it's well deserved! 
No entries for swing trades yet... I expect I will have to wait a while for pullbacks to form on the daily charts.
Bad luck on Prudential Minch, but overall you're putting us all to shame
No entries for swing trades yet... I expect I will have to wait a while for pullbacks to form on the daily charts.
Bad luck on Prudential Minch, but overall you're putting us all to shame
Geofract
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Are these your only open trades DB? What prices are you in at on DISL and RGM btw?
Geofract
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Thanks Minch
What is your trading method btw? In theory I am using Rivallands EOD swing method for shares, though I did jump in intraday with RR (very undsicplined!).
His method goes something like this for entries:
Basically we're trying to find an entry at the bottom of a correction.
Up trend example is: Wait for 3 down days in an uptrend - then buy the break above the third day - if it doesn't break above, then lower your order, until you're triggered long - hope that makes sense. Also, ignore inside days, and up days. Only count down days for the correction, but corrections can be a mixture of inside and up days. For some instruments 3 days may not work, so a little back testing is required to find the right number.
It does seem to work - I'll post a chart example if you're interested.
dr.blix
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yeah, i sold AFE for BE (well, enough to cover the stamp duty, fees and buy myself a box of mars bars).
i wanted to free up some cash to take the ridiculous gamble that was buying INGG. :whistling
my current open positions are: INGG @ 6.89p, DISL @ 1.09p, RGM @ 2.18p
Geofract
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I've marked the prices on the charts so I can see what you're winning!
I guess these small caps are more about understanding the news than TA? They look a little beyond TA to me, but maybe I missed something? Happy to be corrected.
Good luck Squire.
dr.blix
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i'll post some charts geo...but, yeah, essentially, what you and minch are doing...you wouldn't be able to do with these!
you and minch need gracefully moving largecaps with plenty of volume to harvest your pts, in the same way you trade FX/indices.
what ciao and i are looking for are signs of life in what most people wouldn't touch with a bargepole :cheesy:
yeah, news and fundamentals are much more important...but TA is no less important.
here's an old chart of INGG. look at these chart patterns playing out...perfectly formed!
you and minch need gracefully moving largecaps with plenty of volume to harvest your pts, in the same way you trade FX/indices.
what ciao and i are looking for are signs of life in what most people wouldn't touch with a bargepole :cheesy:
yeah, news and fundamentals are much more important...but TA is no less important.
here's an old chart of INGG. look at these chart patterns playing out...perfectly formed!
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dr.blix
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i think i've already lost with this lot mate.
i've missed 20% upside on my RGM position, currently sitting at around 5% drawdown.
i don't think DISL will be doing much until march, it's a leisure company, motor homes out-door stuff, so seasonal i think.
and as for INGG, well, i just want a bloody 50% retracement...not too much to ask is it?!
dr.blix
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looking on a bar chart i can see 4.4p as being a distinct possibility...ironically, this was the price i almost bought at months ago (just before they went to 15p)...i am truly crap at this.
i need to sort IG's charts out, i always ran a bar chart alongside a candle chart (usually on different TF's)...there are things that just jump out on a bar chart that don't seem to on a candle chart.
problem is, the charts are all messed up on this computer, they have big square glitches all over them...i've got a decent graphics card, so not sure what the problem is.
anyhoo...bar chart. 4.4p...great :|
i need to sort IG's charts out, i always ran a bar chart alongside a candle chart (usually on different TF's)...there are things that just jump out on a bar chart that don't seem to on a candle chart.
problem is, the charts are all messed up on this computer, they have big square glitches all over them...i've got a decent graphics card, so not sure what the problem is.
anyhoo...bar chart. 4.4p...great :|
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Yes Geo, I had a look at Rivallands method a couple of yrs back, its a good system playing pullbacks and bounces in line with the major trend, very similiar to Elders triple screen method, in an uptrend buying the break above the third down day of the correction, being the confirmation of the pivotal point.
My strategy is similiar, but without the Bar counting, looking for price to correct to a level of S/R, pivot, a zone or value area to give a low risk entry.
I ditched oscillators a long time ago, but when trading equities I always have the 20 ema & 50 ema up on the chart, you will be amazed how often price bounces from the 20 ema or the zone between the 20/50 ema.
So I suppose my entries differ from the Rivalland approach in that I'm looking for levels of S/R rather than a specific Bar counting method.
But hey Geo, post up some charts, I would like a reminder of his methods, Im always looking for ways to tweak my strategy.
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Geofract
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don't suppose you got the rivalland book on a PDF mr. geo?
Who, me Sir? Surely not!
Geofract
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A lil Rivalland swing entry example below for Amec.
Ok, so the trend is up, and we're looking to find the bottom of a pullback/correction to go long. We wait for a minimum of 3 down days, ignoring inside days, and up days. The 2 Blue arrows show the 2 entries that would be triggered with this method. The first entry was a failure, the second was good. Stops go below the low of the previous daily bar. Orders are placed EOD.
I have simplified this a little, it's worth reading the correction section in the book. Chapter 4, Modified Swing Charts.
This is a very mechanical approach, and not without it's problems, but I guess it does work overall. I think signals are about 50/50 between good and bad (I could be wrong) so letting profits run is key! I was trying to use an RSI 5 indicator as an additional filter - for example, having a rule like 'if RSI5 isn't at 30 or below, then don't buy' It's probably an excessive complication.
This whole method is similar to the PN stuff I learnt - in that it's very simple and mechanical - repeat Ad nauseam, and overall you come out on top! The trouble is that I find myself trying to improve these strategies to remove false signals, but then it becomes more complex, with more exceptions and rules, etc. Keep it simple, and accept the times when a mechanical approach is very blunt I guess.
PN does use a very mechanical method for exits, Rivalland attempts this too. Rivalland puts forward a few methods, e.g. sell if RSI 5 exceeds 90 - another idea was exiting on the 3rd touch of a bollinger band edge. I prefer PN's method, but I don't think it's workable for dailies... I'll have to do some research.
This is not like PN's bias change though DB. I wish I could use that kind of pattern on the dailies, but it takes too long to form. Rivalland does use a partial bias change for trend change signals, though he doesn't call it a bias change.
Anyway, as I said, all this mechanical stuff can be a bit blunt at times, and may not be everyones cup of tea
Out of my FTSE trade at BE yesterday btw.
Ok, so the trend is up, and we're looking to find the bottom of a pullback/correction to go long. We wait for a minimum of 3 down days, ignoring inside days, and up days. The 2 Blue arrows show the 2 entries that would be triggered with this method. The first entry was a failure, the second was good. Stops go below the low of the previous daily bar. Orders are placed EOD.
I have simplified this a little, it's worth reading the correction section in the book. Chapter 4, Modified Swing Charts.
This is a very mechanical approach, and not without it's problems, but I guess it does work overall. I think signals are about 50/50 between good and bad (I could be wrong) so letting profits run is key! I was trying to use an RSI 5 indicator as an additional filter - for example, having a rule like 'if RSI5 isn't at 30 or below, then don't buy' It's probably an excessive complication.
This whole method is similar to the PN stuff I learnt - in that it's very simple and mechanical - repeat Ad nauseam, and overall you come out on top! The trouble is that I find myself trying to improve these strategies to remove false signals, but then it becomes more complex, with more exceptions and rules, etc. Keep it simple, and accept the times when a mechanical approach is very blunt I guess.
PN does use a very mechanical method for exits, Rivalland attempts this too. Rivalland puts forward a few methods, e.g. sell if RSI 5 exceeds 90 - another idea was exiting on the 3rd touch of a bollinger band edge. I prefer PN's method, but I don't think it's workable for dailies... I'll have to do some research.
This is not like PN's bias change though DB. I wish I could use that kind of pattern on the dailies, but it takes too long to form. Rivalland does use a partial bias change for trend change signals, though he doesn't call it a bias change.
Anyway, as I said, all this mechanical stuff can be a bit blunt at times, and may not be everyones cup of tea
Out of my FTSE trade at BE yesterday btw.
