Ocean Power Technologies Share Discussion Threads

[andonis] 14/12/2011 06:41

enjoy neil

[neilbuc] 14/12/2011 03:07

L....its a shut up shop and go enjoy the holidays. I will be back 2nd week of Jan. Have a good one.

[lokesh8] 13/12/2011 16:02

Guys ...before you go get all technical ....always .....advise us it its a Put or a Call week ...LOL

[andonis] 13/12/2011 13:24

Yea the bigger picture is key for my confidence. Interesting neil, I hope it is working out. Lets share some charts as it always helps. If you cant talk in here. send me an email.

[neilbuc] 13/12/2011 12:37

Bob is class. I do some clever stuff inside my ISA which is longer term stuff, but even then it is Delta/Matrix MTD/MC2 based. Having an idea over the bigger picture always helps. My trades are 15M/1H/4H. I think the Euro is in big trouble, which may be the catalyst for the big downturn in 2012. Whatever, we are day/swing traders so up or down, as long as we are on short on the down legs and long on the up legs.

[andonis] 13/12/2011 11:55

neilbuc...Yes we sort of also agree to expect ftse to reach 6k before it crashes low 4k or whatever lower (if) end of 2012. I know bob miner. But I trade short term.

[neilbuc] 13/12/2011 10:37

A......Netiher am I! However The alternative is that 2000 was the Wave 5 high and as you put in your chart 2007-2009 was a Wave C. There is a problem with this though, is that it is far too short in Time for a "normal wave c". Assuming you have read Frost & Pretcher, your complex contracting triangle is a possibility. EW is subjective at best. You can always make something fit which is why many don't bother with it. The thing to take from it is that both out charts call for lower prices into 2012.....and as a trader thats all that really matters. Also Bob Miner believes it to be the more bearish chart and I am not going to disagree with the master until proved other wise. :)

[andonis] 13/12/2011 06:36

If point E does not hold then 3270 or even 2800 FTSE is possible...however I am more bullish than that. We will see,,,,

[andonis] 13/12/2011 05:20

Near term to my estimation we should see the low for now TOMORROW. in other words for day traders like myself (looking for DOW and S&P indices) we should start to rise all the way to the 21st Dec. After the 21st Dec then a small drop high again to year end. Bullish from tomorrow. neilbuc i am not so sure about the FTSE Elliott Wave count you have....

[neilbuc] 12/12/2011 15:04

If we don't go higher than the 27th Oct soon (ie.9th Dec-6th Jan) the implication in terms of Delta is that we will be going down below 4790 between Jan-Mar 2012. To really scare you check out the "bearish" count on the FTSE Monthly. (This would be worst case senario)



Uploaded with

[neilbuc] 12/12/2011 14:52

Daily FTSE Chart with what I think "may" be happening. I know it looks mental but the Oct 4th Low to Oct 27th High was too short in "time" to be a Wave.B. So looking at patterns and purely "saying what you see" in mind.....



Uploaded with

[lokesh8] 12/12/2011 08:28

Will be monitoring .....with eyes wide open ...LOL

Morning all

[neilbuc] 12/12/2011 00:33

Mtd dates can be fairly wide in their time range. I think we are close to another high. Lets see how it opens today.

[andonis] 09/12/2011 08:06

neilbuc LOL....
According to your post neilbuc - 28 Nov'11 - 11:40 - 1448 of 1510
we are 2 days past (approx. as i cannot make out the dates better from the chart) the MC2-6 (red) so a rise is overdue. Since it is late the market is bearish here. What follows is a rise to 15th Dec more or less which should go HIGHER than the previous MC2-5 high. So I am expecting firecrackers? If you feel that you will be chased by DELTA society do not reply. LOL

[neilbuc] 08/12/2011 14:55

LOL.....

9. I will not make any trades on Interest Rate decision day or Non-Farm Payroll days.


This is why point 9 is there.

Week 3 update (this week) only a 3 day week......
Balls....-7.7%

Got killed yesterday. Intitially I was short made some, then tried to go long. Bad move. 8 in a row wrong 2 each on indicies and 2 on Swissy. Spend the day looking at why I was wrong, or if there was anything that could have helped.

Wrote the lessons learnt down with charts. Found some flaws/mistakes. Taking bad candles or no candle formations. Closing short too early. Amended plan to include this:

17. 15M System can generate false signals. Eliminate some by trading in the direction that the other analysis for the week shows.

That would have resulted in a gain of about +15%!!!! And that included 1 loser, which was totally valid, a morning star, just didn't work out. At that point I would have still be short 1 unit too, so it wasn't even that bad.

Cheers

P.S.....I was hoping for a high to come in with Full Moon/Lunar Eclipse.....SPX having real problems getting over a 0.786 Retracement level@1265 area. 3 attempts all failed......its also the 200bar MA....by by SPX.....watch it spike tomorrow! Hahahaa...

[andonis] 07/12/2011 13:44

neilbuc thanks for the email. I also use Dynamic Trader and have the MC unit.

[neilbuc] 07/12/2011 11:00

Adonis-----sent you a PM. That should get you in the right direction.

So, 2nd week of Live Trading my 15M system I developed 2 months ago.
What I have learned so far:
1. Work can leaded to missed signals!
2. The spread can be a pain if the stop is close. e.g a 10pip risk and the spread is 3pip.....30% to get over.....boo!
3. Take all signals. You must trade your tested plan....no exceptions.
4. Remember to get up at 7:30am!!

Results:
Week 1: -1.49% (2 days missed slept in/holiday)
Week 2: +3.25% (missed some really good trades due to work)

To put it in perspective, on the Demo with back testing 7:30-15:30 only as per live account the results are:

Week 1: +36.7%
Week 2: +16.8%

Incase anyone wants to see the plan here it is:

1. I will use the Strategies taught by Dynamic Trader to identify the overall trend direction. This is based of Price and Time Patterns following simple Elliot Wave theory. I will also use Matrix/Delta theory to identify swing lows and highs.
2. I will perform weekly weekend analysis to determine the Pattern and Trend and record what to look out for the coming week.
3. I will use 1Bar Trailing High/Low to enter a 2 unit position only when the Dual Time Frame Momentum studies correlate, i.e. If the Daily is Bullish I will enter on the nest 60m Bullish reversal.
4. I will only risk maximum of 1.5% capital exposure on any trade. (2 unit split)
5. I will only close the 2nd unit manually if there is a compelling reason to do so. Other time SL will be adjust to allow the market to take me out as per the Price and Pattern.
6. When trading FTSE inside my ISA I will trade only the MC2 Matrix points.
7. When trading Forex 4H system. I will not take counter trend trades.
8. I will trade 1H Pattern Forex System and take only well formed Morning Stars and Evening Stars that correlate to the overall trend direction, i.e if the trend is up I will wait and take a Morning Star or Bullish Engulfing setup.
9. I will not make any trades on Interest Rate decision day or Non-Farm Payroll days.
10. If using 1H to enter a 4H MACD Trade, only take Trend Continuation setups.
11. I will also set a Target Price when sleeping.
12. Always wait if you miss a 4H entry, enter on 50% pull back of next 4H candle only. Otherwise no entry.
13. Try to make trades that have less that 60pip Stop Loss. Any more split positions.
14. When Trading options I will allow larger risk. I will try to take on cheap options and the end of trends and at MC3 Matrix points or at EOW patterns e.g. End of Wave 5,
15. Day Trading is on 15M system. Only FTSE, SPX,DAX,EURO,CABLE and SWISSY. Between 07:30 and 15:30.
16. 15M system has a 30 pip SL max, no exceptions. If it is more due to movement away from candle close, wait for it to retrace but only in the next 15m candle.

[k3nw00d] 07/12/2011 08:12

N, will have a look at them in due course, however, I am now very sceptical of Broker Reports/Targets...... Look at VAL, has a Broker pricing of approx 1.68p and currently bumbling about 0.45p when EVERYONE knows it should be WAY higher than it is...... I just think it is the wrong time for a lot of companies and the Markets and MMs are extracting the Micheal.....

Just my 2p worth...... Now if VAL was there ;-)

[neilbuc] 06/12/2011 23:06

L....stopped doing shares just now, but intresting.

[neilbuc] 06/12/2011 23:05

Lol....i am not even going to waste my time. Like so many others take, take , take and nothing given back. That is what is wrong with society today.

[lokesh8] 06/12/2011 21:53

I'm good ..... but could always be better.....LOL

[k3nw00d] 06/12/2011 20:46

Evening Lokesh, how's you ??

[lokesh8] 06/12/2011 20:18

Neil. We're moving in the right direction ...spot on ...above the 200 day moving average lets hope we can stay above it .... Must check out my mate !Oscar ...