Well, got tired waiting for a setup, i..And thought I will start keeping an eye on our local market.
Will update on it later, if anyone is interested
is that stock liquid?
james16 Chart Thread
- #100,841
- Aug 24, 2011 6:01am Aug 24, 2011 6:01am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
is that stock liquid?
- #100,842
- Aug 24, 2011 6:05am Aug 24, 2011 6:05am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
of course we are interested.
is that stock liquid?
Even though there could be days of ZERO trades during a day... as you can see on the chart. However, going through many many examples I still see that PB's and BUOBs DO work here too! Is just sometimes it is very hard to see them, you need to aggregate candles etc...
I agree tech analysis is not the best thing to do with our market. But anyway I was thinking to get into this stock for a long time, so why not now, when there is a BUOB....
- #100,843
- Aug 24, 2011 6:06am Aug 24, 2011 6:06am
Well, got tired waiting for a setup, in fact I had no trades this month so far. And thought I will start keeping an eye on our local market.
When the going gets weird, the weird turn pro.
- #100,844
- Aug 24, 2011 6:08am Aug 24, 2011 6:08am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
You're a braver man than me, sir. I have no idea what that chart is trying to tell me...
It screams buy buy buy!!! don't you see
And the volume start to appear... is like the stock is coming back from dead..
- #100,846
- Aug 24, 2011 6:18am Aug 24, 2011 6:18am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #100,848
- Aug 24, 2011 8:00am Aug 24, 2011 8:00am
Hi SC, lol, yes this is a top liquid stock and among 7 "blue chips" that constitue our Index. So this is like a stock in DJIA, lol.
Even though there could be days of ZERO trades during a day... as you can see on the chart
You should probably avoid that.
When you have to shoot, shoot. Dont talk.
- #100,849
- Edited 8:43am Aug 24, 2011 8:23am | Edited 8:43am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
the charts been pretty messy during this month, but i managed to grab a A trade, not quite a plus, but very close in my book. as this was shouting out the screen to me to trade it, well in my books anyway.
reasons for taking, tail of pinbar (highlighted in blue) has bounced off the lovely downwards trendline, it had bounced off 50 fib retrace of the latest move up, fta was a nice 50 odd pips away which is where price is currently, i have taken profits, and left a small portion on the table
any seniors got anything to add or say about this trade?
http://i51.tinypic.com/2yzltgh.jpg
reasons for taking, tail of pinbar (highlighted in blue) has bounced off the lovely downwards trendline, it had bounced off 50 fib retrace of the latest move up, fta was a nice 50 odd pips away
which is where price is currently, i have taken profits, and left a small portion on the tableany seniors got anything to add or say about this trade?
http://i51.tinypic.com/2yzltgh.jpg
- #100,851
- Edited 9:00am Aug 24, 2011 8:45am | Edited 9:00am
It screams buy buy buy!!! don't you see
And the volume start to appear... is like the stock is coming back from dead..
Yet I made two mistakes(prompted by a friend who kept buggin' me - and anyway, the amounts were close to nil) - bought a small holiday house and some shares at the 2nd IPO of a state company(back then IPO meant free money - in a country which didn't have a stock exchange for half a century, it was the 1st bull market they saw, so... guess what, it was a bubble not yet busted...).
IPO goes, stock goes kaboom up 1st days; but I was skiing(and again, the amount was perfectly ignorable and frankly I forgot the date). Stock starts going down - I keep it, not carrying. Finally, after 3 years, gets back at break even, I go sell it with a local broker. This is the national gas distribution company - so... ugh, "blue chip" and so on.
Now... the broker was dictating me the order list; no joke - like "3 shares for sale at x, 7 at x - y, 4 at x - y', etc.). Thought he was making fun of me so I grabbed a calculator, put him to repeat and gave him the confirmation. Turns out I sold precisely at those levels since the sum was correct to the decimal, despite the convo taking about ~3 mins(so apparently I was the only weirdo around in those 3 mins).
Now, obviously I don't know how it's over there at your place(no clue even from where you are). But volume is volume - that much I can read even without knowing the alphabet. Don't know how you can trade with that volume and taking in acct. commissions unless you're investing.
Dam i hate this pair..im scared to take a trade on GBPCAD given the noise it has..will watch it n do a mental trade..
looks a fine setup though IMO..
p.s - and yeah, it's a pretty "active" pair
- #100,852
- Aug 24, 2011 9:08am Aug 24, 2011 9:08am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
That's not liquid, at all. And I'm pretty sure *I* could run your stops
You should probably avoid that.
So only limits or market.But volume is volume - that much I can read even without knowing the alphabet. Don't know how you can trade with that volume and taking in acct. commissions unless you're investing.
p.s - and yeah, it's a pretty "active" pair
Everything is relative, and the stock's current volume is big compared to its previous volume...
Ahh this is a sure thing lol
Now I need to make some "work" to get myself into it:
1. phone call
2. type order
3. print it out
4. fill it and sign it
5. scan it
6. send it to the broker
7. phone call
... and I am filled at the best market price
- #100,853
- Aug 24, 2011 9:13am Aug 24, 2011 9:13am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
So yeah the risk per each trade theoretically is 100% of money invested into the stock.
No stops are allowed/existed here, one cannot place a buy order above current price or sell order below current price - that order will automatically become market
Volume is really good, really
Everything is relative, and the stock's current volume is big compared to its previous volume...
Ahh this is a sure thing lol
Now I need to make some "work" to get myself into it:
1. phone call
2. type order
3. print it out
4. fill it and sign it
5. scan it
6. send it to the broker
7. phone call...
- #100,855
- Aug 24, 2011 10:29am Aug 24, 2011 10:29am
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
now ,@1.6370,we also have s&r. i have no good idea .maybe taking profit is not too bad .but i really want to say ,i just find the trend lines are always very very important . 
A chart helps those who can read it.
- #100,856
- Aug 24, 2011 10:33am Aug 24, 2011 10:33am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
...so gold broke pretty hard in the last coupla hours. Entered at 1820ish, took half profit at 1765 (minor flip on daily, more pronounced on 4H) with the rest now at BE. If it doesn't come back, I'm looking at 1733ish as next trouble.
Thoughts/criticisms of my thinking please?
- #100,858
- Aug 24, 2011 11:34am Aug 24, 2011 11:34am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
- #100,859
- Aug 24, 2011 12:44pm Aug 24, 2011 12:44pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
