Can anyone mentor me in trading (holding positions for 1 - 10 days)
Salty Gibbon
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I hear that Nick Leeson is "free" these days.
Might be worth a try.
Might be worth a try.
TheBramble
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If you do a search on members registered in Singapore (Community/Member List/Advanced Search option (country=Singapore) you'll find just under 150 members.
http://www.trade2win.com/boards/memberlist.php?do=getall&page=1<r=&pp=30&order=asc&postslower=0&postsupper=0&sort=username&ausername=&homepage=&icq=&aim=&yahoo=&msn=&joindateafter=&joindatebefore=&lastpostafter=&lastpostbefore=&field10=196
They may well be better acquainted with the Singapore markets and more willing to assist you on a 1-2-1 basis.
Trying to achieve the level of mentoring you're looking for on the boards might not be as successful a strategy.
http://www.trade2win.com/boards/memberlist.php?do=getall&page=1<r=&pp=30&order=asc&postslower=0&postsupper=0&sort=username&ausername=&homepage=&icq=&aim=&yahoo=&msn=&joindateafter=&joindatebefore=&lastpostafter=&lastpostbefore=&field10=196
They may well be better acquainted with the Singapore markets and more willing to assist you on a 1-2-1 basis.
Trying to achieve the level of mentoring you're looking for on the boards might not be as successful a strategy.
roguetrader
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Salty Gibbon said:
I would say you could do a whole lot worse than be mentored by Nick Leeson. Before he threw out the rule book and wrote himself into history as one of the biggest disasters to hit the financial markets Leeson was a pretty remarkable trader,
babymush.
You ask 2 questions:
What system can I use for trading a stock for a few days - 1 - 10 days?
Can any mentor me?
If the two questions are linked it seems to suggest you want a fairy godmother. Someone who can tell you what to do and hold your hand while doing it?
I don't think one should expect a mentor to answer the first question. They can only help you on the right journey so that you discover a way of trading for yourself.
Good luck in finding a mentor. I think it's a good idea to look for one.
You ask 2 questions:
What system can I use for trading a stock for a few days - 1 - 10 days?
Can any mentor me?
If the two questions are linked it seems to suggest you want a fairy godmother. Someone who can tell you what to do and hold your hand while doing it?
I don't think one should expect a mentor to answer the first question. They can only help you on the right journey so that you discover a way of trading for yourself.
Good luck in finding a mentor. I think it's a good idea to look for one.
TheBramble
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BM - you've been looking at correlated stocks for pair trading, market depth, working with just price & volume, support/resistance, demand & supply and metastock back-testing.babymush said:
If you are a genuinely new to trading then you're covering an awful lot of 'advanced' areas before you've covered the basics. Take a look at the threads in the 'First Steps' forum.
If you're not new to trading then you know it ain't that simple to help anyone else find a 'profitable system' that works well 'for them'.
There's more than enough on these boards to assist everyone with their own systems development and trade management, but you'll need to do your own research.
TheBramble said:
Hi Bramble,
I am fairly new to trading but always learning and reading up more. Tried on a few strategies and systems but not very profitable. Was hoping someone will put me on the right track which is why I was hoping someone will come up and mentor....
Oh yeh.. trust me .. I have put in lots of effort (like most of us) studying and reading but cannot seem to go into the right track (the system suitable for me)I am not one that expects people to spoon feed me and bring everything on a sliver platter.
Was just hoping that someone trading US markets etc could help me along as the market there are light years ahead of the Singapore market
roguetrader
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Sorry GJ, can't add anything of an "informed" nature, similar to you my information is all opinion and speculation, gleaned from various commentry I've read. Undoubtedly his descendence to ruin was spectacular and reckless to say the least. History proves that we are best remembered for our failures rather than our successes.
I read a lot of commentry right after the incident, before people realized the magnitude of his screw up and he had quite a reputation as an income generator. Of course once people realized exactly what had happened there was a great need for anyone in the business to distance themselves, not surprisingly he wasn't very popular in the financial world, and this is probably best acheived by trashing him I suspect. If I understand it correctly his success was indeed in arbitrage.
I read a lot of commentry right after the incident, before people realized the magnitude of his screw up and he had quite a reputation as an income generator. Of course once people realized exactly what had happened there was a great need for anyone in the business to distance themselves, not surprisingly he wasn't very popular in the financial world, and this is probably best acheived by trashing him I suspect. If I understand it correctly his success was indeed in arbitrage.
forget the SG market . you can't really speculate on that , more for long term investors and even at that , the list of investable stocks are minimal.
it's a donkey .
do futures on the nekkei if you want asian hours stuff.
I used to work for millenium and was trained by BZW on Simex.
it's a donkey .
do futures on the nekkei if you want asian hours stuff.
I used to work for millenium and was trained by BZW on Simex.
GJ,
>>And before that my understanding is that he was running an arb operation between Simex and Osaka. >>While good performance in this is laudable, it would suggest good execution rather than any great >>prowess as a trader in the true sense of the word.
that is correct.
In his own words from his own book , he says clearly that he was a pure execution man taking orders from the Tokyo office .
He harboured secret ambitions to be a prop man but did not have the ghoulies to strike out on his own , hoping vainly that somehow the knobs would promote him to be one . FAT chance .
so when the chance came to do it illicitly , he jumped on it .
Stupid fool, got what he deserved.
>>And before that my understanding is that he was running an arb operation between Simex and Osaka. >>While good performance in this is laudable, it would suggest good execution rather than any great >>prowess as a trader in the true sense of the word.
that is correct.
In his own words from his own book , he says clearly that he was a pure execution man taking orders from the Tokyo office .
He harboured secret ambitions to be a prop man but did not have the ghoulies to strike out on his own , hoping vainly that somehow the knobs would promote him to be one . FAT chance .
so when the chance came to do it illicitly , he jumped on it .
Stupid fool, got what he deserved.
RT,
>>I read a lot of commentry right after the incident, before people realized the magnitude of his screw up >>and he had quite a reputation as an income generator.
It was all BS income , generated from comms taken from trades fuelled by money conned from his own employers .
it's like taken a tenner out of 1 pocket and putting 3 quid in the other , whilst closing your eyes all the time .
PURE BLAGGING .
>>I read a lot of commentry right after the incident, before people realized the magnitude of his screw up >>and he had quite a reputation as an income generator.
It was all BS income , generated from comms taken from trades fuelled by money conned from his own employers .
it's like taken a tenner out of 1 pocket and putting 3 quid in the other , whilst closing your eyes all the time .
PURE BLAGGING .
roguetrader
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Interesting, appreciate the feedback.
philhackett
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babymush said:
Put Keltner Channels on your charts with a 5 day simple moving average and Bollinger Bands. When the candles are within the KC the market is Range Bound. When the candles AND the 5SMA move out of the channel together, a trend has started.
Phil
are you gong to put $ in a stock which has 350 lots average daily volume ? if so then good luck coz you will need it.
sensible investors will pick large liquid stocks so that they can get in and out with ease and so no one dodgy speculator can boost the market by himself on a given day .
in Sg , that leaves you with the big cap index leaders like Singtel . which means you have to leave your money in for a long term to get decent returns, since these stocks are not volatile in the short run.
Unless of course you have loads of cash to tie up for a few months , then conceivably you could shorten your investment span . but for most people with smaller amounts , the big caps need time to reap good returns
And bollinger bands are like rubber bands, you use them to tie things up
sensible investors will pick large liquid stocks so that they can get in and out with ease and so no one dodgy speculator can boost the market by himself on a given day .
in Sg , that leaves you with the big cap index leaders like Singtel . which means you have to leave your money in for a long term to get decent returns, since these stocks are not volatile in the short run.
Unless of course you have loads of cash to tie up for a few months , then conceivably you could shorten your investment span . but for most people with smaller amounts , the big caps need time to reap good returns
And bollinger bands are like rubber bands, you use them to tie things up
TheBramble
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WG - Babymush has already indicated he is not interested in Sg markets
"Was just hoping that someone trading US markets etc could help me along as the market there are light years ahead of the Singapore market "
Maybe you missed the nuance.
Move on....
"Was just hoping that someone trading US markets etc could help me along as the market there are light years ahead of the Singapore market "
Maybe you missed the nuance.
Move on....