Canaccord Share Discussion Threads

[pukeko] 31/5/2008 20:48

henry,fives - Thanks for your posts this week. I have been following with interest when working life has allowed. I have found it very helpful to read your posts and look at the chart at the same time.

Like you have said henry, your startegy is not a 'rigid system', more a blend of various indicators to give buy/sell signals. From my few paper trades so far whenever the entry has been wrong the stop sign has been very close, which is reassuring. Of course it remains to be seen how the emotions are affected when real money is involved.

Looking forward to spending some more time learning / understanding your strategy henry. Thanks.

[henryatkin] 31/5/2008 20:39

Fives ... you should have email tomorrow. Ref Ross 123 its a usefull tool but when you think about it he is only stating the obvious. I would just get use to recognising the pattern. You can see it on end of day charts for RDSB, AAL, BLT and XTA - they all broke short. WTB has a 123 long. FTSE has an interesting 20 period potential breakdown or retrace back up. The full Ross business works at its best when trading the tick on futures. On s/bet charts we don't get to see the full picture.

[fivesboy] 31/5/2008 19:28

Henry, Thanks for your encouraging words. Last couple of days I've found hard and demoralising but I know it's just the start and I know there is much to learn and am willing to put in the effort. I've been studying Ross's Law of Charts but I'm really struggling with this. I mean the basic principle is not difficult but it's looking at the charts and seeing what is 1-2-3 high and low etc. Anyway, thanks in advance for sending us anything.

I was going to concentrate on studying your signals real-time but in markets like Friday a.m. just try picking points up from consolidation breakouts. My 8x21 EMA didn't do badly considering but it's tieing everything together that is tricky.

[minky] 31/5/2008 13:47

Hi all,

Can someone let me know the link or post which identifies the strategy to be used with this indicator, also time frames and settings. TIA.

[xanbea] 30/5/2008 22:16

Look forward to this, Henry.

I tried a few minimum size bets today, and made a little, lost a little, ended up a couple of quid down. In retrospect, if I'd gone on the exact crossovers, I'd have been a little more successful, but I was looking for confirmation moves after the signal before going, and then finding myself in too late. Like you say, I'm sure that it will take time to get in the swing of it, but it really is what I want to be doing, that's for sure.

Had a look @ €/$ this evening too, with much the same result.

[henryatkin] 30/5/2008 20:46

Fives / X ...... Needs to adopt a different strategy on days like today. No fast trend to follow so I will try to get an email out to show how I trade when the market is not trending or just slow drift up as per 09.00 to 11.00. There are ways and means to work most markets - just takes a bit of time but I'm sure I would have made a few points here and there today, though easy to say after the event. A lot of it is like the 20 period breakout,the Ross pattern breakout, the SMI trend line break. There are lots of signs that work most of the time but it takes time to discover them and apply them.

[xanbea] 30/5/2008 11:41

5sboy, agreed. I would be slightly down today so far

[fivesboy] 30/5/2008 10:18

Horrid day so far. Seems to me that if the US hasn't done much then nothing much happens here until we get closer to the 1:30 news that comes out of there.

[henryatkin] 29/5/2008 21:20

Thanx X I will look into it. Got to get some back up. Lost connection again today - only been a problem this week and I know power generators have been running on low output frequency this week so assume that is the problem. Always difficult to be honest with yourself when looking back at a chart but don't think I would have done much at all today. The best action was between 1.00 and 2.00 when I don't trade. Forex was almost as bad if not worse. Don't trade on Fridays - nothing wrong with the market , just got better things to do.

[xanbea] 29/5/2008 14:13

Henry

Re your connection dropping, maybe you should think about buying a 3G dongle as was discussed on the NT thread recently as a backup. Not sure whether you can receive 3G in your area of course, but I'm fairly in the sticks and I get it ok. I imagine all the providers will give you a postcode check for availability on their websites - T-mobile certainly do.

[fivesboy] 29/5/2008 12:22

Small one. Out 12:07 6090. Ranging again. Thought there was a breakup @12:13 above 6092 but wasn't sure if that would have counted in the 20 period breakout?

[fivesboy] 29/5/2008 11:40

In on breakout down at 11:20 for 6104. Has it started??

[fivesboy] 29/5/2008 11:35

Hmm. Can't help feeling with Smarm's comments that there is a lot of news today that getting in around 12-12:30 will start trending.

Make sure you have phone numbers for CMC to hand etc. Sorry if it's obvious but I didn't until the first time I lost my connection and realised I was scuppered!

[henryatkin] 29/5/2008 11:05

Fives - have to agree. I lost my connection again and it has taken half hour to get back on line. I haven't looked at charts yet but don't want to risk being in a trade with loss of connection. Three days running now that has happened.

[fivesboy] 29/5/2008 10:28

Difficult day so far. Small loss on the breakout below 6112 @ 10:23

[henryatkin] 29/5/2008 10:05

Fives if you see that candle at 10.04 all MA lines are chopping it - no clue where we are going.

[fivesboy] 29/5/2008 10:04

I looked at a breakout up from the downward consolidation after it went back over 6118 @ 9:58 but again not convincing.

[henryatkin] 29/5/2008 09:59

Closed that out for a small loss.

[henryatkin] 29/5/2008 09:50

I agree ... just take a short at 6217 but only on MA

[fivesboy] 29/5/2008 09:45

Yup. Sounds good though not a very positive breakout thus far. Looks to be drifting down in the consolidation.

[henryatkin] 29/5/2008 09:45

I closed the breakout failure at 6122. edit 6120

[henryatkin] 29/5/2008 09:41

I'm taking 9.38 to be a breakout but with the body of the consolidation as a stop - say 6125

[smarm] 29/5/2008 09:37

I have the CCI set to alarm when it crosses 0. It did that at 8:48. The DEMA/TEMA cross came at 8:50, which is where my paper trade was entered. Circa 6102 I would imagine. I'm not sure where the exit should have been...6129, where the DEMA/TEMA cross down but I suspect by the time I pressed button 6120 would have been more like it.

...what do we think?

S

[henryatkin] 29/5/2008 09:29

So I'm now waiting for consolidation to braek but it will only be MA trades