andrewmooton - training with insight experiences

[alliance]

Update:
Haven't posted an update for 3 weeks as I confess to struggling somewhat with applying the actual TA aspects of the course to trades of my choosing for the module I am on. I think I have pretty well grasped the individual indicators and what they may signify in the right context, but I have definately struggled to define direction if only one is present, OR (as seems to happen a lot) if some contradict others.
There is no doubt an "art" to reading TA, and as a total TA-na-phobe, I haven't found it yet!
I am beginning to see the case for the "no indicators" brigade!

I have by choice "struggled" alone until last week when I contacted Stu for help which he has endeavoured to give on more than one occasion. I have now sent off my two "trades" and await the analysis.

EDIT: As I type, both trades have gone against me, so guessing I won't "pass" this module

 

[Trader_Dave]

alliance,

Thank you for your update.. please keep us posted on how you get on. Out of interest, is this your first exposure to TA (is that what you meant by being a TA-na-phobe)?

Thanks.
Dave

 

[Zenda]

Update:
Haven't posted an update for 3 weeks as I confess to struggling somewhat with applying the actual TA aspects of the course to trades of my choosing for the module I am on. I think I have pretty well grasped the individual indicators and what they may signify in the right context, but I have definately struggled to define direction if only one is present, OR (as seems to happen a lot) if some contradict others.
There is no doubt an "art" to reading TA, and as a total TA-na-phobe, I haven't found it yet!
I am beginning to see the case for the "no indicators" brigade!

I have by choice "struggled" alone until last week when I contacted Stu for help which he has endeavoured to give on more than one occasion. I have now sent off my two "trades" and await the analysis.

But you don't need TA - just click onto Stu's other site http://www.positivetrading.co.uk/ and for £......... you don't even need a charting programme> Oops Sod it - I promised not to,,,,,,,,,,,

 

[alliance]

Out of interest, is this your first exposure to TA (is that what you meant by being a TA-na-phobe)?

Dave:
Yes it is SB'ing only since April ( non-disciplined "fundamentals/gut feeling" approach)!

 

[alliance]

Update:
I got the video analysis of my first two (short) trades back from Stu and it seems overall I did ok. One trade has proven slightly profitable, the other a slight loss, so not as bad or "embarrassing" as I thought I did manage to recognise the signals from the indicators taught, (phewww) but got my consolidation v retrace a bit confused on the second one. The video analysis of your trades is a great idea and without doubt makes seeing where u got it right or wrong so much easier.

Stu tells me I am guilty of "over analysing" the charts hence my struggles, but as the subject is Technical "Analysis" I found that amusing . I do quickly scan thru an overview of the ftse 100 on my EOD Sharescope, and I put any potentials into a "possible" portfolio for closer study later. It is this latter part which takes me ages (for the reasons previously stated in post 121 above). I guess like most things..if u do it long enough it will become easier with practise. The course is very much geared towards EOD individual shares ~ not something I have tried b4, but the basic principles would apply to any timescale/instrument I guess?

Overall, these last 2 modules have proved very enlightening for me....coming from a knowledge base where the only thing I previously knew about candlesticks is that they are great for romantic dinners...but dont put a lit one too near the curtains :cheesy:

And so just the final module to complete!

now where DID I put those two "long" trades .........

 

[alliance]

HI,

Sorry I havent updated in a while.

I havent forgotten and will be continuing soon, I just got caught up in something else for a while.

Ill get something together in the next couple of days.

Me too.

C'mon guys?......

 

[trendie]

But you don't need TA - just click onto Stu's other site http://www.positivetrading.co.uk/ and for £......... you don't even need a charting programme> Oops Sod it - I promised not to,,,,,,,,,,,

Zenda,

I am confused - please help.
This "other" site (positivetrading) is by Scott Spencer.
The enrol button takes you to Insight.

Are you saying Scott and Stu are one and the same ?

It could be that the two systems are complementary ( a different path to the same solution ).

Or that the two ideas have sufficient overlap of principles that the two guys acknowledge their similarities, and work together.

Is there a point in you pointing out the positivetrading website ?

 

[alliance]

Are you saying Scott and Stu are one and the same ?

Hi Trendie,
I think posts 102 and 103 might help clarify.

 

[trendie]

Thanks alliance

Apologies to Stu and Scott for inferring any underhand behaviour.

( in my defence, I have been working "conventionally", and thus have been out of the loop for a couple of weeks )

 

[Trader333]

The course is very much geared towards EOD individual shares ~ not something I have tried b4, but the basic principles would apply to any timescale/instrument I guess?

Highly unlikely for intra-day traders in my view because trading EOD is dramatically different compared to intra-day. I have yet to see a "one size fits all approach" that would work for both circumstances.


Paul

 

[alliance]

trading EOD is dramatically different compared to intra-day

Paul

Thanks Paul I realise that, but thought maybe the basic principles..of applying ema's etc ~ a la Chartman's (intra-day) Dow Theory for example ~ would be very similar. Wasn't certain tho hence my "I guess?"

 

[Trader333]

Lorraine,

It may apply to index trading but to shares it doesnt (in my view) but others may well differ in their opinion on this.



Paul

 

[DaveJB]

There's nothing to stop you using the system intraday, although I suspect you'd at least change the MA values. It's something you'd want to look at for a while, backtest it if possible, before considering doing it - but the basic idea of jumping onto a new trend is applicable to pretty well any market I'd have thought.
Dave

 

[alliance]

but the basic principles would apply to any timescale/instrument I guess?

Thanks again Paul and Dave!
Tho I doubt I would ever trade individual shares intra- day perhaps I should have said:
"would apply to MANY OTHER timescales/instruments I guess?"

As a matter of interest.....do many private traders actually trade individual shares on an intra-day basis? Apolgies in advance if that is a really dumb question

 

[Roberto]

As a matter of interest.....do many private traders actually trade individual shares on an intra-day basis? Apolgies in advance if that is a really dumb question

As someone else who'll be interested to see the answers to it, I don't think it's a dumb question at all. For myself, I don't trade individual shares intraday by spreadbetting but I "trade" some by short-term digital options at BOM (some as short as 10 minutes).

 

[Trader333]

do many private traders actually trade individual shares on an intra-day basis?

Yes that is all I do on US stocks at the present but I am also looking at position trading strategies as well for which my approach will be very different.


Paul

 

[pkfryer]

I have read somewhere that the markets are fractal by nature, i.e. the behaviour is similar in different time frames. It should be possible to apply TA to intraday charts although an entirely different system and different parameters would need to be developed. I dont think you necessarily have to follow Time of Sales and Lvl2 to do the dailies, although this is one way.

Its possible to apply TA techniques but obviously only after a lot of time, effort and testing has proven what works best.

Hope the course is proving well, and not overly expensive which I think is always a good sign. Hope all is going well Paul, you are developing a position system? Tell me how you get on.

 

[Trader333]

pkf,

One of our T2W members (Scripophilist), had demonstrated that the smaller the time frame the more random the price action is seen to be. Based on this then a different approach in needed to be successful in intra-day trading which I agree with. As I have said others may disagree but for me I was not able to use longer term strategies successfully on an intra-day basis and I also dont know of others who were able to do so either.


Paul

 

[TheBramble]

Timeframe Context

Sort of disagree - with provisos. I generally trade intraday, but due to other calls on my time at present, have switched to EOD. I still use the same criteria, but on the longer timeframe. In the few weeks I've been operating this way, my results have been equivalent.

As for 'shorter timeframe = more random the price action', you can made that statement (which is 'true') for ANY timeframe. If you're looking at monthly data, the weekly stuff looks MORE random, and the daily even more so. It's a perspective based on context.

The provisos:-

1. I've only switched to trading EOD for the last few weeks - so results are hardly conclusive, or perhaps even meaningful.

2. Although criteria (setups, exits, risk & money management principles) are the same, the size of targets and stops etc have to be altered. The R:R stays constant.

 

[Trader_Dave]

any further updates from the other two members who reviewed the course?