Canaccord Share Discussion Threads

[fivesboy] 16/7/2008 10:51

Weird but after a neutral start with a couple of bad decisions (as opposed to just being unlucky with the trade going the wrong way), I've had a good (for me) time since after 9. Ten trades, two losers, one zero sum gain and the rest in positive territory with two currently going very well thanks to the recent breakdown of the low of the day.

[minky] 15/7/2008 14:32

Two poor trades today followed by two weak positive trades. Henry, altough I try to utilise the SMI to keep me safe it seems that this can still give overbought and oversold levels with narrow consolidating ranges. (before 8 am as an example although this can also occur during normal trading) How do you keep out of these situations or do you just trade a higher time frame.

[henryatkin] 15/7/2008 10:07

Found it quite difficult to make money today - only 30 points and most of that in the first few minutes. All I have now is a long term trend long since 09.34 and not sure if it is likely to do any good.

[fivesboy] 15/7/2008 09:36

Morning all, quiet day so far. Not a bad start with a good SMI reversal, one long trend that paid off a bit and some short terms that gave either a small positive or zero. Not much happening though and have been flat since around 9:10 when my long termer closed. All in all, better than last week.

Reading about Rainbow. Sounds fascinating. Haven't found the bit that talks about 145 yet. Also intrigued my MTF Stochastic.

[minky] 14/7/2008 15:43

Another small successful trade. Hooray.

I do not know if anyone uses Capital Spreads but 3 times it faltered at critical times and on the fourth time it disconnected me from the server. Naughty,naughty.

[fivesboy] 14/7/2008 15:20

Minky, Henry's policy of keeping out when SMI is ranging tight works really well. I have done nothing since 12 as a result and things seem to be picking up since NYSE open.

[henryatkin] 14/7/2008 14:17

Minky ... you gotta keep out of tight trading ranges - they are a killer. Wait for a clear breakout.

[minky] 14/7/2008 12:49

Morning all. Started out with weak trade or two at the end of last week and was becoming irritated by not reading the chart well. However, did better later on, pulled back some losses and made a bit on top.

I envisaged the market might go up this morning but after the turmoil last week I thought it was too risky until the market settled down. Today has not started out on the bright side but have managed to keep out of trouble. Slight loss at the mo. Still cannot make up my mind if the market is going up or down. I find it very difficult when the price is in a narrow trading range and this is where I tend to make my worst losses.

[henryatkin] 14/7/2008 12:29

Morning all .... thanks for that fives . I have sorted out problems now with Vod and have peace of mind. I think you are right to sort out one strategy at a time and then add another and so on. It took me six months paper trading before I traded cash and that is a hell of a long time when you try putting it into practice. I'm sure it saved me a fortune in time stress. Its a lot harder to paper trade for a long period than most people would imagine but I maintain that if you can't set a target and stick to it you probably wont have the discipline to stick to a trading plan. I still uncovered new strategies such as Ross 123 and CCI trend lines after I started money trading so I'm sure it is an endless learning curve. The latest I have come across is the Rainbow strategy. You can find lots about it on google. Not for me on its own but the 145 moving average that it uses is almost as magnetic as pivot points. I have included it onto my charts now.

[fivesboy] 14/7/2008 08:14

Henry,

Sorry not to have replied before now but have been on impromptu holiday which was excellent.

I assume that download over mobile and broadband are equivalent in terms of size usage. Can't imagine why they wouldn't be other than a few bytes here and there but VOD man should be able to confirm. I have a 15Gb package on landline and find generally I get nowhere near my allowance having Marketmaker and ADVFN streaming on most of each working day. We also have a wireless radio that streams for a few hours each morning. All that generally uses around 8Gb a month unless we start downloading stuff from iPlayer. Don't do a lot of downloading and have got nowhere near 15Gb in one month.

Hope that helps.

How has everyone been last week. I had a cr*p time trading prior to going away and am looking to improve things somewhat. Henry, have you been tweaking a lot since last we wrote?

[minky] 08/7/2008 19:47

Three trades today one too eager with resultant loss. Marginally in front but at least the trends and rules keeping me out of trouble on the whole.

[henryatkin] 08/7/2008 09:25

Thanx X.... a VOD (only provider that gives me a signal) man is calling round to demonstrate and give me an idea of what I need.

[xanbea] 08/7/2008 09:10

Henry

If you were to restart your machine at the beginning of the day, at the end of the day you could look at the properties of your network connection to see how much data has been transmitted/received.

However, to give you some idea, I have the T-mobile 3Gb package, which of course is around 100Mb/day if you use it every day. I used to leave my laptop dialled-up all day at work on my desk just to stream advfn and receive email and never used anywhere near that amount of data, never more than half that in fact, unless I had a number of large emails.

[henryatkin] 04/7/2008 12:09

Hiya, just got back from the town and also managed a few trades before I went. Don't know what it is about Fridays but they do very often seem slow especially in the morning. The US sometimes puts a bit of life in the afternoon but as you say - not today.

My landline is getting more unreliable these days. I'm at the extreme end of a phone line and about 3 miles from the exchange which is about the limit that BT set. So I called into Carphone to ask about suitability of mobile connection packages. They had all the chat until it got to the technical bit. I wanted to know if I was using CMC Marketmaker (gave them the system spec) roughly how many hours of download time would I get per month with various contracts ie 3 gig, 7 gig, 15 gig etc etc... The eventual answer was " with respect sir, you tell us what you want to buy and we will give you a good deal but we can't advise on what your needs are" - how useful is that? Any ideas?

[fivesboy] 04/7/2008 10:26

What a dull day. Now there is too little volatility. Interesting that SMI is not ranging much but the price is. I can see why Henry doesn't do Fridays on a day like this. And it is unlikely to change much as the US is off today and there is no UK news due as far as I am aware.

[minky] 03/7/2008 18:27

Nice surprise when I just checked bulletin board. FIO jumped. Have been holding shares for some time through thick and thin. Maybe not such a bad day as long as they do not drop back tomorrow.

[fivesboy] 03/7/2008 14:18

Minky, yes. If your nerves could stand it the price jumps would have been good to get in at 13:54 after SMI anc CCI uptrend confirmations and a Ross 123 confirmed. All good in hindsight but U am staying out for now. Also intersting divergence between price and SMI latest lower lows. i.e SMI down a lot but price quite a bithigher from previous lower low. No divergence on CCI though.

[henryatkin] 03/7/2008 14:18

See what you're refering to. Thats why I try to avoid the 13.30 period. Then a nice little uptrend follows and you miss most or all of it because you're mind is still thinking the volitility will hit you as soon as you click the buy button. Its all about mind games. On one of the ftse threads someone called Hithere. He reads the charts but gets his wife to actually place the trades.

[minky] 03/7/2008 14:11

Had four winning trades in a row totalling 40 points then got spiked out. Went long at 13.28 spike down for 20 point loss at 13.30 then went up for a lot of points which I did not get back into. How annoying, got the direction right but volatility is a killer.

[fivesboy] 03/7/2008 13:53

Blimey! That is what I call volatile. Safer flat than having a position me thinks. Funny how different interpretation of all the US economic news is interpreted so differently and causes much confusion. Seems moral of the story is to be flat when there's a lot of news coming out. Glad I got out thanks to a CCI trend line cross just before.

[fivesboy] 03/7/2008 11:39

Minky, It is so weird how your mind plays tricks with you but this is exactly where Henry's strategy comes in.

[minky] 03/7/2008 11:15

Henry. I assumed yo would do well today with your longer term srategy and nice to see confirmed. I took a few points after the initial termoil did left to early and missed that lovely uptrend. Fives I think I picked up on the CCi trends and breakout and dont understand why I did not stick with it. Just nervous with recent falls I guess.

[fivesboy] 03/7/2008 11:05

Henry, funny old game. Am now in nice long termer following up trend line breakout, lower high peaks on CCI and SMI just going into trading range and breakout of recent price lowwith a 123 down at 10:42. Decided to only do the long term as price was meandering down. What's that song: "What a difference a day makes ..."

Nice when you can pack up so early. Enjoy the rest of the day. I hope we do here.

And did I ever say thanks for all your help and support? I'm sure I did but please consider it re-iterated.

[henryatkin] 03/7/2008 10:39

Yep - classic trading day today and very easy after my first opening loss between 8.05 and 8.11. From then on took it right down to the double bottom and back up again and back up. Very good first hour and followed it up to the pivot after that. Had enough for now so happy days - tea and toast time.

[fivesboy] 03/7/2008 09:56

Beautiful long term and short term trend at 8:52: Rising CCI but the trend of the lower high peaks broken. Same on SMI. Joe Ross confirmed and final icing on cake was the down trenline breakout. Nice.