should i exit

[Oraclefusions]

Just in case if you guys wanna know the full trend since its inception.

http://www.picstation.net/pictures/06f1b89c6a147937cf63c81d76c610f3.png

Volume is in millions.

For todays Trading Day:

Bid Trades Volume: 256, 704
Bid Trades Turn over 28,496,379

Offer Trade Vol: 262,191
Offer Trades Turn over: 20,027,160

 

[BeginnerJoe]

From that we (well at least I) can see the max price the big boys paid was 80. So they have plenty of room for some serious lulz. And, some say trading isn't a game.

 

[Oraclefusions]

From that we (well at least I) can see the max price the big boys paid was 80. So they have plenty of room for some serious lulz. And, some say trading isn't a game.

They who? how they(those) people (must be a group) manipulate ?
I am guessing some rich men got together and bought in bulk at 80 to make the price go up , but how did they managed to made it all the way upto 235?

I am interested to know from the devil side, how people play this game?

 

[BeginnerJoe]

They who? how they(those) people (must be a group) manipulate ?
I am guessing some rich men got together and bought in bulk at 80 to make the price go up , but how did they managed to made it all the way upto 235?

I am interested to know from the devil side, how people play this game?

Those who convinced you to buy at 150 were probably the same people who convinced others to buy at 235. When people are buying and the big boys are not selling, the price goes up. I bet the people who convinced you to buy at 150 were all quiet when the price was below 80. So whoever gave you the tip is the WHO you are looking for.

 

[Trader333]

From a purely technical perspective, there is a good possibility that what is now happening is a small retracement before a continued downward fall.

It is important to remember that what causes prices to decline is not people selling but rather a lack of buying support and this is very possible looking at the above in my view.

 

[Oraclefusions]

Those who convinced you to buy at 150 were probably the same people who convinced others to buy at 235. When people are buying and the big boys are not selling, the price goes up. I bet the people who convinced you to buy at 150 were all quiet when the price was below 80. So whoever gave you the tip is the WHO you are looking for.

Honestly, no one advised me to buy into this. I thought that the theoretical knowledge I gained and the virtual trading made me ready and I searched for stock which is very much volatile in terms of spread and I went for it.

Now I am more inclined that this will fall further, question is

1. If it falls below 100, should I sell?
2. Let it fall and reach 80 or what ever the bottom line, and then let it rise again, due to the nature, they wont wait more than 6 to 8 months to pump it again and I would get my money back.
3. I am not in need of this money for any emergency and I would just not accpet that I lost the money, rather I will now go into stock with less money like 5000 and understand the trading welll enough. Because I am afraid If i sell , i wont be able to use the remainng money to get my loss back.

The only rare possibility is that the stock tumbles and crashes for good which may not happen atleast here., hope so.

Cheers

 

[BeginnerJoe]

It's difficult to explain. You think you chose your buying decision on your own free will. But it isn't. It's the things that they do that makes you want to buy. When you buy a stock, you are not buying from a dumb ATM (bank automatic tilling machine where you insert you bank card), but from someone living and breathing. He doesn't care what is on your chart. Nor is he a simpleton who's behaviour is controlled by candlesticks. When this someone gets your money, he will find ways to keep some or all of it while getting the stock certificates back from you for close to nothing. In other words, you are dealing with someone intelligent, someone who could be more intelligent that your are.

The best thing to do is to start from the beginning, and stop gambling against people who maybe significantly better place than you are in terms of intelligence, experience, skills, connections, equipment, and money resources.

Here's a well known story of a market insider that might give you some clues on what kind of people you are dealing with whenever you plan to make a killing in the stock market within a fortnight:

http://www.nowandfutures.com/large/Reminiscences_of_a_Stock_Operator_Jesse_Livermore.pdf

 

[Oraclefusions]

I am already working on it. and I made a committment to myself to trade on paper . However I hope am still welcome on this forum to ask advise about other potential stocks.

thanks again

It's difficult to explain. You think you chose your buying decision on your own free will. But it isn't. It's the things that they do that makes you want to buy. When you buy a stock, you are not buying from a dumb ATM (bank automatic tilling machine where you insert you bank card), but from someone living and breathing. He doesn't care what is on your chart. Nor is he a simpleton who's behaviour is controlled by candlesticks. When this someone gets your money, he will find ways to keep some or all of it while getting the stock certificates back from you for close to nothing. In other words, you are dealing with someone intelligent, someone who could be more intelligent that your are.

The best thing to do is to start from the beginning, and stop gambling against people who maybe significantly better place than you are in terms of intelligence, experience, skills, connections, equipment, and money resources.

Here's a well known story of a market insider that might give you some clues on what kind of people you are dealing with whenever you plan to make a killing in the stock market within a fortnight:

http://www.nowandfutures.com/large/Reminiscences_of_a_Stock_Operator_Jesse_Livermore.pdf

 

[BeginnerJoe]

I am sure you can stay and ask as much as you want. Profitable advice is as hard to find as profit itself.

 

[Oraclefusions]

I am sure you can stay and ask as much as you want. Profitable advice is as hard to find as profit itself.

In that case. I would ask to suggest a strategy which I can use on this market to apply and practise on paper.
The strategy would be an overview of steps (am not aksing to understand a particular indicator or pattern , as that is for me to hit the books and learn). All I am asking is series of steps technical basis to brows all of the market stocks and filter out to be under watch and areas of entry.
Cheers

 

[Oraclefusions]

Todays end of trading day session
Closed at the same price 110 as of prev day close.
However at the last 5 mins before the session end, huge volumes were bought

Pls have a look at the chart, comments are welcome.

http://www.imagetoo.com/images/acedec17.png

 

[malaguti]

In that case. I would ask to suggest a strategy which I can use on this market to apply and practise on paper.
The strategy would be an overview of steps (am not aksing to understand a particular indicator or pattern , as that is for me to hit the books and learn). All I am asking is series of steps technical basis to brows all of the market stocks and filter out to be under watch and areas of entry.
Cheers

I'd suggest you don't try to look for steps that will browse a large number. We've all tried that. You would begin with technical indicators so you can filter etc, but that one indictor will not work with another one as they each have their own charateristics.
Try to focus on a smaller number. Have a watchlist of 6 or 7 perhaps rather than a multitude. Understand its charateristics.
Then, I would look to identify the trend..this is not so easy. So this is where i would start. Once you can identify the trend, the rest becomes alot easier.

 

[Shakone]

Todays end of trading day session
Closed at the same price 110 as of prev day close.
However at the last 5 mins before the session end, huge volumes were bought

Well huge volumes were sold too weren't they. I mean you say huge volumes were bought, but someone is on the other side?

It moved up towards close, but it closed where it opened (or slightly down).

What is it you want to be told? Nobody can tell you with certainty what it will do next. But we've now gone from long term trade to considering 5 minute bars intraday.

It seems like you're going to hold. And you're going to look for reasons that support holding, like this strong volume on the up bar at the end. It seems from the outside the only way you'll get out is if it comes back to 150, or if makes a sharp moved down through 100 to 90 or even 70 and your hand is forced.

 

[Oraclefusions]

I am sharing this info out of interest for all of you as a test case.
Ofcourse it would need two friends to foul play in order to sell and the other to buy to create such am impact.

I was close to coming out today but then today being the IPO day for another, i did not. Tomorrow I plan to get out early when market opens.

Well huge volumes were sold too weren't they. I mean you say huge volumes were bought, but someone is on the other side?

It moved up towards close, but it closed where it opened (or slightly down).

What is it you want to be told? Nobody can tell you with certainty what it will do next. But we've now gone from long term trade to considering 5 minute bars intraday.

It seems like you're going to hold. And you're going to look for reasons that support holding, like this strong volume on the up bar at the end. It seems from the outside the only way you'll get out is if it comes back to 150, or if makes a sharp moved down through 100 to 90 or even 70 and your hand is forced.

 

[Shakone]

Did you exit as planned around 110? Or still holding?

 

[Oraclefusions]

Did you exit as planned around 110? Or still holding?

I exited at 109 :-(

 

[Oraclefusions]

First of all I am thankful to all of the folks on this website who gave me their valuable advise. After my exit, the stock further went down to 91 (8%). As some one pointed out it would go further down to some where 85 where there was a strong support but then you never know if it rises back.

Anyway, I am sharing my success in another stock that I traded today (this time with small amount like 5,000 which I intend to do until I know this game).

Find below the chart and then my questions.

http://www.tinyuploads.com/images/Q5GiJF.jpg

1. I observed that when there is a comparative lare bullish Candlstick then for the next few minutes or hours or even days, the trade happens within the body of that long white candle. As you see in this chart at Point A1. This info will be quite handy for buy and sell signal. What do you think?
2. I place my order at the point (says Here) when the following conditions are met.
a) 8d MA. 25d MA and 50d EMA are in order from top to bottom align
b) the close price of candle stick is above the 8d MA
c) from the RSI and Stoch, I ensure this is not an overbought zone
d) From the qstick the line is also moving up zero
e) stock line crosess from below the ma line.
f) however the price is not above the parabolic SAR which only happens after 6 candle sticks (see the up arrow sign).

If am doing an mistakes let me know. I will exit when the RSI went down below and price falls below parabolic, but in m ycase today I exit before that as i was cautious and i made some small money(as i put up 5000 $only) and i said thats ok for today.

Any thoughts? Am sure this is not a magic buy strategy, it will not always work.
Cheers

 

[Trader333]

You are probably not going to like this but all these indicators for trading on an intra-day basis are useless. Are you able to chart volume better than this as well as the price ? Is so can you put up two charts, one end of day and the other intra-day. Also make them a bit smaller as they are too large for the screen.

 

[Oraclefusions]

You are probably not going to like this but all these indicators for trading on an intra-day basis are useless. Are you able to chart volume better than this as well as the price ? Is so can you put up two charts, one end of day and the other intra-day. Also make them a bit smaller as they are too large for the screen.

What did you mean chart volume and price better?
You want the same chart but drawn on Volume? instead of on Price? Not sure
When you sayend of day chart, you mean daily charts for prev days until today or only todays chart on hourly basis.?

I use TSW-Trader Work station from my broker which when opend for a symbol, darwas on upper part line chart based on price (closed), other options are bar and candlestick but no volume. Then you choose indicators (like macd etc) which gets draw underneath on a separate window.

you can see the data directly for saudi stocks, go to this website
FalcomWatch.Com
On right side, click on HistoricAL Charts and from the top left drop down list(Company), .
The stocks that I have trade start with starts digit 8. For example the one where I lost is 8240 ACE. The one in the example above is 4004 Dallah health

http://i46.tinypic.com/k159w3.png

http://i47.tinypic.com/s4oqs9.png

cheers

 

[Shakone]

I may have read Trader333 intentions incorrectly, however, for others to read it would be nice if:

You got rid of all those indicators, RSI, Stoch Oscillator, QStick, and the ones that are all over the price (Bollinger band is it?), because it makes it hard to see what's going on.

In the post above Trader333's post, you have a chart, and so much of the volume is on the first bar, that you can't differentiate the rest of the volume clearly - it all looks the same.

In your most recent post, the top chart is nice as you can see the volume (but would be nicer to get rid of all the other indicators as mentioned).

In the lower chart of your most recent post, there's only 11 bars. Are they all a full hour, or is the first or last hour of trading 30 mins? Could you perhaps put up a 5 minute chart if possible (again without indicators on price, just volume and price).