Nick1984

Thanks for that januson. Do you think you could elaborate a bit more on your findings for the way the stock behaves with the different size tick candles. Eg> Why have you found the 233 tick better than a 23, 55 or 89 for entering? What I've noticed so far when combining a 233 tick for my main chart, an 89, and a 55 and also a 5 minute chart, that the 233 is my main guideline for entering and i use the 55 and 89 to fine tune my entry. The 5 minute is used as an overall picture for the longer term. For example if my 233 and 5 minute is telling me that we might be going down south I wont enter a trade until both the 89 and 55 ticks have fired of 2 and 3 respectively red candles as a confirmation.

Hey jen20200 and welcome to the forum! Thats what I was thinking as well but good to see some numbers behind it all! Glad i know I'm not just rambling to myself.

This is a quote not explicitly a trading quote but it comes from the grandfather of economics, free markets and the invisible hand: Adam Smith (given that we all derive a living from the markets he championed I think we owe his insignts a lot of respect) in his book The Wealth of Nations first publised in 1776. "It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but form their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages." - Adam Smith

I follow the price of Uranium pretty closely as I trade Uranium mining stocks. The spot price of Uranium is at $120/lb and has been rising for over 6 months. At the moment demand for Uranium is far outstripping supply. We simply cannot dig it out of the ground fast enough to supply the energy needs of the world. African countries such as Namibia have let in a large number of exploration companies and already have mining giants such as Rio Tinto and Paladin Resources mining there, with many other explorers drilling around to find more. However the Namibian government has now slowed down on the granting of tenements to new explorers. Resource rich countries such as Australia are still reluctant to expand mining of the resource. As our elections are coming up this year, both political parties are putting on their true colours when it comes to uranium mining with the local Labor party going back on it's maximum 3 Uranium mines policy should it be elected. There is still way to much red tape to cross with environmental regulations as well as an unfriendly commuinty vehemently opposed to Uranium mines in Australia. There are only so many old nuclear warheads that can be dismantled to keep on stoking those nuclear reactors! With our inability to keep on digging up enough low grade U308, I expect that uranium prices will keep rising but to what extent? Uranium cannot remain a viable resource if it cannot be used and many countries will start to look at non-nuclear energy production. With the world moving away from coal power gradually thanks to the global warming wagon rolling on, the choices for alternative energy sources are becoming rarer. How do you see the future of Uranium markets? Maybe we should start buying up Hydrogen shares!

I was lucky enough to catch a nice bit 80 point downward move the other day. I looked at it after on a daily chart and i saw that it broke below the 8 EMA on the YM so I'd expect lots of swing traders to start buying up at these prices unless they want to push it further down towards the 21 EMA.

Id still probabbly kick her out of bed if she farted.

Very nice video. I like the simplicity of the strategy. It's an uptrending market but the evidence of the hooks and extremes is a very solid set up.

Grains are really interesting contracts (sorry bit off topic). From a fundamental perspective I like corn contracts because of the larger use of corn production in ethenol fuel. Being an Aussie, I'm looking at metals hmmmmm Uranium!

I've had no experience in trading bond futures before but from what I can see the price of the bonds seems to have very sudden price movements (by your chart). It seems to move in little step formation but the all of a sudden without any real warning price just dives for quite a few points. Can you use any indicators on the bond futures because I dont think that your normal TICK, TRIN etc work on bond futures?

Thanks for the responses. Another reason I posted this up was the psychological factor specifically boredom. On days where the price doesnt move much of a certain boundary, a time based candle chart is excruciating to watch in my personal oppinion. Nothing worse than see a skinny candle repeatedly. Last night i found that I was more comfortable with a 233, 55 and 89 tick chart up as the timing of my entry was much more solid than with the time based chart. The 233 helped me see the bigger moves and the 55 and 89 helped me fine tune the entry. I'm pretty sure 55 and 89 are all fib numbers as well. We'll see how it goes again tonight.

I have been using 3 min candles for the majority of the time but have just switched to Tick candles. I used the 233 tick charts to see what James uses but I also used it in combination with an 89 tick chart to see shorter term moves. Feels different and its certainly more dynamic than the traditional time based candles. I find that with the volume delta tool that it works quite well. What are your experiences and/or preferences between them?

WOW 1 million dolla!!! Wheres the nearest bank, I can't wait to turn my 5k margin loan into a million into 6 months! Why has nobody told me this before! Screw university, who needs education, we all need 20 points a day weeeeeeeeeeeeeeeeeeeee.

Heheh duly noted! Today has been a lil better so far. I went long straight at the open and took 20 pts. Shorted at 347 and just caught a nice lil move down for another 10. I don't have much experience but from what I noticed on a 3 min chart, it looks like the YM loves to move in waves a lot.

Yep definately gettin outa this one. Took my 2 points n ran. Not happy Jan!!!!! (from an aussie commercial for those that know the reference)

yea. I just opened it up now at the start of the session. first 20 mins are nothing to get excited about. Not much action going through either. Using pivots i went long at 288 after it broke through S2 on pretty light volume. I'm currently stuck at 2 points up but not making much headway.

Yea after the first hour and a half i called it a day. No decent moves. I fell asleep hehe. I looked at it on a daily and its been almost nothing but up (slowing down though)! Hasent even touched an 8 day EMA yet.

Monday the 6th was the first time I took the dive into the YM. Wasn't a very good day to start! Nothing happened lol! I made a quick few points early on shorting about 9 minutes after open then closed out for a 12 point gain. After that diddly! Could have gone worse i guess. Something keeping the markets a bit stagnant in the US now?

Thanks for that

This is targeted specifically at James the resident tape reading guru. When you're reading the tape what do the symbols and colours mean? I get that the green prints are the longs and the Red the shorts. I see in the videos that you have white prints as well not sure what these are. Also sometimes you see a red or green print with a + or a - at the end. What do these symbols represent? Cheers, Nick

Is anyone still doin the pre-market session talk?

Superannuation: This is where by law a minimum of 9% of your income has to be placed in a superannuation fund which you cannot touch until you reach what is called your preservation age (55). There are benefits for putting mony in super as the tax rate is favourable. When you retire, you roll over your super into an allocated pension to draw from. Its a "self funded retiree" type instrument held under trust. Negative gearing: This is where you borrow money with the express purpose of taking a loss so that you can lower your tax liability. If you take a loss then that loss is deductible. Interest paid on any investment is also tax deductible. Many people negative gear into property. It's hard for rents to cover interest expenses here most of the time so you cop a loss no matter what you do so that loss will eventually come off your tax bill which helps. If you have a self managed super fund direct property is a great way to build up your super portfolio assets under a cost effective platform. If your fund is managed by an industry or a retail master trust then you can still have property by buying units in a property trust. Lots of people also set up their own specific property trusts to deal in property because of the tax savings as opposed to going in solo. A trust has a maximum taxation rate of 30% compared to our top marginal tax rate of 45% (plus a 1.5% Medicare tax levy) for each additional dollar earnt over $150,000 (and an additional flat tax of $47,850 p.a in that tax bracket). I'm looking of going into property development under a trust structure with a few syndicated partners to offset the large capital expenditure required. I haven't got experience with property yet so I'm hedging my bets by wanting to syndicate so I don't go it alone. My question relates to the experience people have with property development from a legal and administrative sense. Is it very time consuming to do it yourself or have you found it easier to appoint a property manager to take care of things such as rents? Edit: P.s: A up-side down mortgage does exist. That's called a reverse mortgage where you're paid interest by the bank for a fixed term and at maturity the bank then takes possesion of the property. Sounds strange but is a good idea for pensioners who want to downsize their property in retirement and then move into something smaller.

I don't know if it's possible to see the Emperor's palace cause that would be pretty nice. I'd love to go to hopefully next year to Japan. Saw Lost in Translation when it came out and have wanted to go to Japan ever since.

If your CEO you can't really be anything else. But you can be an executive or a director and still a trader. I think it's perfectly fine to say either "Securities & Risk Management Executive" or "Director of Derivatives and Securities Management". If you're trading personally under your own business then sure you can be the CEO. You could even take the land you own your house on, seceed, start your own country and call yourself Emperor! What I'm trying to say is that you can always pick any title you want as long as it sounds sensible. Soul, personally i'd just combine both trading and business into one by using the "Managing Director" title and then you can add in derivatives management etc. e.g: "Managing Director of Derivatives and Risk Management"

Thanks guys

Perfect video James! Answered my question in the fib post perfectly! Cookie for you!