Nick1984

Have you ever traded when you've had a personal tragedy happen which makes you either very hurt or angry? I.e: You've just broken up with someone; there's been a death of someone close etc... If so how do you get around these types of mental trauma? Lots of people have different tolerances to these types of events and different ways of coping with it. I personally find that I think of things in a "grand scheme" type of way so that any action that happens here is small in significance to the "grand scheme" so I try not to cry over spilt milk so to speak. How do you cope with these situations so that it doesn't effect your work?

Lingo refreshment here. 1500v what is that? Is that just a volume bar which marks 1500 contracts worth of turnover?

Dont buy into the penny dreadfulls if your wanting to trade actively. The volume on these stocks is very weak so getting out may be a problem. I've usually found that it's better to hold on to them for a long time and let the price advance on its own if the fundamentals are right. For the penny's i look at the fundamentals of the company. Its P/E, Div ratio, Board of Directors etc. cause if these companies dont perform they are doomed. As for searching I search out by sectors first then narrow it down to specific companies. My critera is usually to have the stock at a minimum of 30c and a maximum of $2 per share with a minimum turnover of $120,000 a day on average. Have your own set of rules in picking these stocks and make sure you do your homework cause you can loose a lot of money very fast, especially in Biotech stocks and Mining stocks.

I guess that might be true for traders who use a mechanical system that is static and doesnt develop. If someone invested sufficient time into programming so that they could modify the programs they use to suit changing market conditions this might not hold true in the long term. But then again to be that good at programming you really need to spend a long time learning it. The opportunity cost is learning the markets urself as a discretionary trader!

Discretionary. I'd have an automated system only if i got sick of being in the market.

Hmmm I haven't heard of "available float" before. I'm pretty sure on our markets here all the available shares on offer are all publicly available. The government might own a majority of the shares in some companies (Qantas for example or Telstra in Australia) but these can be sold off at the discretion of the government direct to the public. You can check with the listed company and its share registry to see exactly how many shares are on offer and who the top holders are. Each company when you purchase shares in it should have an accompaning share registry database which you can access. If you don't know you can always contact the exchange itself and ask for it because it should be publicly available information. But once again, I'm pretty sure all the shares available in total should be available at the share registry and nothing should be kept from the public. However saying that different exchanges might have different levels of disclosure requirements!

Yea i downloaded the History chan show and watched it before the movie. Strange to think how if that battle never happened, and those guys didn't give up their lives, that democracy might have never happened if ancient Greece were made slaves. Ok here's a question for you guys seein as we're talking bout the ancient times, who do you think was more superior, The Romans or the Han Empire Chinese?

Many of you are successfull traders who can make consistent profits. Most are discretionary traders, some have developed various automated systems that can also make profits. Question is: If you have found your 'holy grail' and are making consistent profits have you ever thought of expanding your business by creating managed discretionary accounts for other people who wouldn't have the expertise or time to devote to trading themselves? i.e: become a private fund manager. Here in Australia now we are seeing a lot of financial planners who are starting to move more away from the regular: superannuation, insurance, and managed fund investment, retirement income sphere of fund management and are now offering clients access to MDA's (Managed Discretionary Accounts) on a fee for service basis (eg. cost $5,000 per annum to have your funds managed for you). Has anyone thought of going down this path? Happy trading guys! Nick

Anyone seen this movie? Directed by the same guy who did Sin City so its filmed to look like the actual graphic novel its based off. Loved this flic, very entertaining (even if its not 100% historically acurate but close enough I guess).

I'm to addicted to my right mouse button to go to some single button mouse clicking system!!!!!!! Yea Vista blows chunks. My mate got it and he deleted it a day later went back to XP. Always to slow. Didn't get it myself was to scared to. I just got a new PC with 2bg of Ram and i dont want to feel like i wasted my hard earned on a 2 bit system. They're going to have to do something to make it run smoother especially the business pack because the last thing any business owner wants is more downtime!

I love this Ducati. Its new but has very retro look to it. Mi piace molto! Damn good designers those Italians.

Curse my spelling! English isn't my first language hehe. And my damn reliance on spell checker! :o Cheers for pointing clarifying that Torero! Bear, yea its a tricky situation. If the price opens again on a high then shorting is a really good option and most of the time has shows to yield a gain. On that particular stock the price has retraced back to 0.77c as I type this.

Well have you noticed how some people just always seem to be more "lucky" than others, and those others are the ones who usually sit there moping about how "lucky" that other guy is? Those other guys are always loosers. Negative energy attracts negative energy. The power of positive thinking is very real. Do you honestly believe some people are just naturally more lucky than others? Thats BS imho. I don't believe in luck. We create our own luck. Its about having the self confidence within yourself to look at any situation and make the best of it. Courage of conviction in other words.

For stock traders/investors trading halts to a particular stop can be a bit of a heart in your mouth experience. You're effectively locked out, stuck, can't do anything. Lots of people get very trepedicious if there's a trading halt. Could the stock have received a speeding ticket? Is there are share placement happening? Is the trading halt ordered by the listed company? Sometimes trading halts are ambiguous as not enough information is given out to the market regarding the halt. The example I'll use now is of a Biotech company called Avexa Ltd listed on the ASX. They management voluntarily ordered a trading halt on its shares. In my experience if a company has voluntered to have a trading halt this is good news, most likely an important forthcoming annoucement and/or a significant share placement is about to take place to a preferred investor. Check out the daily chart to see what happened to the price following the resume of trading on 19/3/2007. A gigantic gap up in price followed by a small sell off. Great news if your holding! If there is a situation where there is a trading halt like the one described above I've found that its good to watch the orders being placed during the halt to see how the market will view the halt. You can very often get a good indication if the halt will bring bullish or bearish news. Many long term holders will have taken the huge gap up as an opportunity to sell off and take profits, and new entrants will be there to buy on these new highs (suckers born every minute). So what strategies Do you have available? Personally I always think that you can short these new highs and take advantage of the profit taking. Most of the time this is an easy way to make a few bucks Anyone else have similar experiences? Good luck guys!

Such cut throat shnannigans goin on there. Another reason for leaving your emotions and your ego at the door when you sit down to trade.

I've been using pivots in my stock trading so far and its been working well. Just one question for you other traders out there as long as we're on the subject. How much credence do you give to the midpoint between pivots? I.e If price is moving towards R1 from the PP and touches the midpoint, does this trigger any signals for yourselves?

interesting comments guys. Thanks for the reply's. Seems like the forex markets are something I need to learn more about! All a bit foreign to me still.

I've never traded forex in my life but have always been interested in it. Anyone who trades regularly may be able to answer this. Does interest rate parity exist in the real world? Eg. Is it really worth your while borrowing Yen and coverting it to USD,EUR,AUD etc to gain from higher local interest rates then converting back to Yen to repay your loan? From all I've learnt, IRP states that because the interest rate in the Yen is much lower the currency will appreciate relative to which ever currency you convert to so that when you convert back the gain is neutralised and your still overexposing yourself to translation risk. On a side note, how often do you guys find yourselves spotting arbitrage opportunities i.e like triangular arbitrage? Cheers

Not this year unfortuantely Last year I was lucky enough to get in with a corporate pass a mate of mine provided. So damn loud! It's a great experience if you love cars and racing. Lots of glitz and glamour...think of the grid girls The race is held at Albert Park which is right next to a busy business district. Feel sorry for all those poor working stiffs which are trying to work with the F1 cars roaring past their windows. Anyone got any particular team they follow? I personally like the Ferrari boys and I got a special place in my heart for Honda seeing as I drive one (thats like mine but i dont have a huge spoiler like that though).

For those who love Subies, heres a track modified version of the best bang for your buck car you can get (i love the rally setups as well). F1 starts here this week as well!!!!!!

Very interesting view Bear. With only 60 contracts per day and you can still get in a good trade. Have you ever faced a situation where you can't get out of a position cause of that low turnover? I've always viewed the situation as liquidity = volume of contracts goin through. More buyers and sellers doing thier thing makes liquidity. But after your post I guess that liquidity is a subjective thing! I'm not familiar with the DD contracts cause I live in Australia, but I'd assume that if you have only 60 odd contracts goin through per day it must be some floor trader who creates the liquidity on his own by turning over 60 contracts a day and taking a small profit on the spread. MP as in market profile. Theres a whole section dedicated to market profile if you care to have a look at it If you're interested in it and learning a bit of the lingo then its a great place to start. I am very new to MP myself and have been applying it to stocks on a very rudimentary basis without any dedicated software, just using excel lol. My analysis will be a bit off but it still is close enough for me to learn how to try and spot different market conditions. I just bought the Mind over Markets book by Dalton et al. and its a fantastic first reference to MP, highly recommend it! Mate don't worry bout your level of education either, if your making money consistently you must be doing something right! Just sit down and look at what you do so that you can develop your own system based on your own style. Trading is a continual learning process and I'm new to it myself. Just keep on filling your head with knowledge and experience Best of luck to you!

Most of the local traders I know are swing traders so intraday liquidity doesnt mean to much to them. Intraday traders are a rarer breed here. With low liquidity its hard to move your contracts. What i mean in b) normality of price distribution i mean in terms of statistical distributions. For those who follow MP theory and the price distribution "bell curve", you need a certain number of events to be recorded to assume any distribution follows a normal distribution. I'm not sure in general how normal an exchanges price distribution is but I'm pretty sure that for rudimentary statistical analysis of price distribution once you pass a high enough count of events (i.e contracts being traded) you can assume a normal distribution of price on any given day.

I agree whole heartedly. For me as I'm still learning myself, I want to fill my head with enough knowledge before I go in gung ho and get false confidence on a few lucky trades. I love to bodybuild as well and the discipline behind any form of personal achievement applies across a broad spectrum of human capabilities. Eg: In winter time I have to bulk myself up to pack on my muscle mass, and I eat like a pig. I start growing and growing and getting fatter and fatter, and then I have to strip it off for summer to look good again. Thats really taxing on the body and mentally its hard to watch yourself getting fat. But in the end you know that your working towards a specific goal and you have to have faith in your abilities. You have to be consistent to your approach. Theres a quote which I really love and I try to apply to the activities I undertake. We are what we repeatedly do. Excellence, therefore, is not an act, but a habit. --- Aristotle

So lucky! Classic American muscle is hard to come by here in Aus. We get the occasional Mustang, Vette, or Camaro but thats pretty much it. And ones which are in pristine condition with an engine that roars are even fewer! We do on the other hand get plenty of Japanese cars. Heaps of ppl love driving these (see attatchment 2) but the most popular car is our home made Holden V8 range (attatchment 1).

Cars omg i love em! I love lots of cars but I have a thing for V8's. Imagine this baby rolling down the street, pure muscle, pure sex. If you can get around 350kw at the wheels with such a light frame you'll have a 10 sec bracket car on your hands easy. Also cause its an older import its not bounded by Australian emmission laws so no cat-converter for full audio pleasure as you hear that baby purrrrrrr.