Nick1984

its happened to me a few times over the last few days.

Yea it was but I still wanted to finish it. A lot of the stuff I learned actually helps heaps in trading, specifically economics and finance. Economics was probabbly the best discipline suited to trading as you get a much better idea of the battle between supply and demand and also how economic data can effect prices. Higher education is something that most people should aspire to even if its not formalised in an institution like a University. It really pays off in the long run I think

As on 10:45pm on Saturday night (24/11/2007), our Prime Minister of 11.5 years, John Howard became the second PM in our history to not only loose office but to also loose his seat at parliament. The Labor party won in a huge landslide swing of 6% to take over government of Australia. Some of the key policies that are going to be worked on straight away by PM Elect, Kevin Rudd, will be the ratification of Kyoto, and the dismantiling of Australia's controversial WorkChoices laws which effectively put all employees on individual agreements with their employers therefore bypassing collective bargaining through unions. http://www.kevin07.com.au/ While there was not much of a fundamental difference in policy between the two major parties, I personally reckon that not much will change here except that now our country is being led by a fella who looks like a geek. With the Labor party in the UK in power, and leftist governments being installed in many EU countries (except France who must always buck the trend!) it seems like the global concensus is for a bit more socially aware governments in office. What does this spell for the upcoming US elections next year? In my humble oppinion I can see a Democrat victory coming up, even though I'd like to see Ron Paul get up there myself hehe.

Thanks James Yea I do want to do a lot of travelling this year coming up. Just after New Years I'll be travelling up to far north Australia for some tropical fun then in Northern Hemisphere Summer I'm starting to plan a trip to Europe to see some relatives then on the way back to Australia I want to have a week stop over in Japan as well cause it's somewhere I really want to visit. I'd hoped to go to Japan just after New Years but circumstances changed so I had to delay. After so long with my head in books and working really hard I've come out of the experience with a deep sense of apprecaition for how hard you do need to work for something worthwhile, however at the same time I also highly value the relaxing time that we as people in the 21st Centrury seem to forsake in the name of a few more dollars in the pocket! At the end of the day it's very important to enjoy life to its fullest. Work to live don't live to work is what I say. In the next few weeks I'll start trading again once I'm over my drunken stupor and start to work again to build my money back up for my overseas trip hehe but until then it's party time! I'll still be on here every day though hehe. Best of trading everyone!

After 5 long years of studying, I can finally throw away my books and pencils...UNI IS FINALLY OVER!!!!!!!!!! A long summer of drinking, partying, and hedonism is about to begin. No working, no trading for me for the next few weeks. Time to enjoy life while I'm still young enough to do it!

Is it just me or does this guy look like the cop from Prison Break?

This is the second time its coming down to test that level. Each attempt should make it stronger so maybe it might break to the low side. If your tempted to go long at 1440 then there is resistance not to far above it so its a pretty aggressive move. I'd sit on my hands for now and watch to see what happens.

The inline 6 on the M3 is an engineering master piece. I don't think there has been an engine so perfectly tuned to deliver that amount of power and torque from such a small capacity on any road car! I'd go an E30 M3 in a heart beat. They are very rare here in Australia however you can find the detuned M version quite easily for cheap.

I've taken a break from any serious fighting training cause my knee is still not 100%. I'm not taking any chances with it. Just gym work for myself atm. If I hopped into a boxing ring I probabbly wouldn't have the fitness to last more than 4 rounds at the moment.

I prefer to use the PC for playing games against other people so I'd to the PS3 over the 360. I've always been a PlayStation type of guy. The PS3 has Assiassin's Creed which looks spectacular. The graphics are also of a better quality. Remember that the PS3 being a newer console hasn't had enough time for developers to really explore its full potential. Remember just how sophisticated some of the games on the PS2 were at the end of it's life compared to the first ones that popped up? If you want to play all out multiplayer games stick to your PC imho.

If the Chinese dump their currency from its already low levels the WTO will eat them for breakfast! Thanks for the analysis Brown I picked that support as well and at the moment I'm inclined to agree that going long now would be pretty risky as the Risk/Reward is not to pretty. If the price does inch bakc to 1500 then it will be interesting to see how the volume plays along. A rise up on weak volume is sure to spell disaster. If it does get to 1500 then it will be interesting to look at the L2 to see if the Ask is overloaded with punters wanting to get in at a great price. Might be a great day to play on the intraday charts there hehe.

Abe managed funds are an Australian term for what I guess you would call a mutual fund i.e: you buy units in a fund which then uses your capital to trade and you receive returns via imcome distributions as well as capital appreciation in the unit price. There are many diverse types of funds that can be invested into including geared funds which as the name implies also borrows money to fund investments therefore increasing returns (please note however that gearing whilst being able to increase returns can also increase losses like any leveraged product). If you want exposure to the Chinese sector or commodities then there are plenty of funds available that have weightings in these sectors. The advantage of a fund though is that you get extra diversification to additional sectors that you would find hard to do yourself with only 10k to play with. Eg: A fund that is a China capital growth fund will not be invested 100% in Chinese stocks. Part of the risk will be hedged by investing in US stocks, Japanese stocks, and some in Cash. In terms of getting a financial adviser I don't know how the system works over there in the US but here you can often pay for the advice through your product and not from your own pocket. Say a standard commission rate is 4.5% (you can always get a discount if you're smart, the planner will want your ongoing business and trail commissions more than a few extra hundred bucks up front commission) then on a 10k investment you will have only 9550 going into the markets. You don't pay anything extra from you're pocket. If you find a planner who knows what he is doing he can tailor your investment to suit your needs. If a 10% return over 10 months is what you're after he should choose a fund that has a relatively high income return rate with a capital growth rate that at least meets its benchmark index return. That shouldn't be to hard to do. Conversely if you have the time you can do the research yourself to find the right fund/s that meets your needs and invest directly and save yourself the commissions but that could be costly in terms of time better spend trading! Also if you have limited experience in these fields and not much knowledge of international economics then it may be best to stay clear of these things. Take you're time and make an informed decision.

Brown how would you interpret this candle? It has a very long buying tail yet closes very close to its open. The volume on the candle is also very high. I notice that we closed below the 200 MA. As for going short, there seems to be visible support but its quite a while down to levels reached a few months back. Was there any economic news recently in the US that made this move happen?

Find a financial adviser who can direct you to a number of lower risk managed funds such as domestic or international fixed income products (not the best option imho cause they barely manage to beat the cash rate), property funds, or small company funds. In this 10% pa return is that in pure capital growth or income or both? You'll find that most managed funds pay out income distributions quarterly so that will be factored into the return. Mind you just like a stock dividend the unit price of the fund you are buying will fall with an income distrubution therefore it's highly important you include any income as part of your overall return. It shouldn't be too hard to get a 10% return or more even after fees on most retail fund platforms that offer a wide range of investment options. Talk to a financial adviser and they'll sort you out.

The volume on the up move today was also very strong and significantly higher than previous days which shows a healthy level of bullish activity. I wouldn't be surprised if we blast through the 40 mark.

What I notice on the ES chart is that the hammer closed just below the 100 MA. If you're a late to the party Charlie, then a good entry point would be a limit order at the 100 MA which is within the body of the first bullish hammer 10 periods ago.

My candle analysis is in its infancy so bear with me on this one. What I see here is a candle that was heading south towards some support but never quite touched it. It looks to me like a hammer formation with some strong volume which to me shows there there is plenty of interest from the bulls. There is overhead resistance at the 13700 mark from the previous large up move on the 18th of September. Could be worth taking the trade as you're risking 50 points for a 100 or possibly more point move.

Personally once I had a system that I was really confident in, which was in essence really quite simple, I wouldn't hesitate to automate a large part of it to deal with the most basic set ups simply so I could have more time to watch other setups. While I'm not a fan of 100% mechanical systems I do believe they can be beneficial when you use them to free up time that could be spent on other trades.

I see that you're operating on a slightly higher time frame than when you first started making videos on this site. I can't tell for sure but are you becoming more of a counter trend trader now? The 5 and 30 min time frames would make it easier to set up your trades when trading off the spread sheet like that. Hehe I feel sorry for your eyes though! Btw love your little TRIN calculator

James thats a really aggressive way to be playing your stops. Have you got any data to show you how effective it has been over say a three month period? I do like however the way you will average out and reshort. That is another very aggressive play and definately not for a newbie (I wouldn't do it yet lol). It's very similar to the video in the trading with market statistics posts, though can't remember which one it is :S

I might be more conservative but I reckon you'll end up shooting yourself in the foot if you go into a day with a pre-conceived notion of what the market will do. On the NQ daily you posted up the bearish engulfing pattern is at the top of a up trend so it is a very valid signal for a reversal, and it does close at support. However, I would personally still be reluctant to go on into the next day thinking that it must come down more cause the candle says so. A safe play would be to watch the open and then place a limit trade a few ticks below the support level of the uptrend and see if that's taken out.

Here's a great story for you Reaver. http://www.cairnspost.com.au/article/2007/10/31/4400_news.html The Dobe was adopted a week ago by a family and then saved the little girl's life from a King Brown snake (3rd most deadly in the world) by picking her up by the back of her nappy and throwing her aside before being bitten itself. Karma at work right there! Save a dog, dog saves you!

Yes conformity. Hooray for blandness!

Tin using your VSA analysis how did you interpret the doji? I'm still trying to get used to candles so I'll give it a shot and just critique me if you don't mind. The doji right at resistance is right in the middle of the range of the candle so to me that shows indecision by both bulls and bears with there being a "balance" between them...possible turning point. When you look at the low volume on the candle it shows that there is a lack or both supply and demand and because of the indecision, the stock is likely to fall on its own weight. I tend to believe that stocks only like to rise if there's a good reason to (insider knowledge, good announcements, general market rising), and if these conditions don't exist then the weight of price will drag it down. All things constant, the low volume combined with a candle that shows indecision is a strong reversal signal when at a resistance point. Hope that worked well lol! Tin can I also ask how you determined that resistance level? Was it based off a previous high, or from pivots?

Tin, I just noticed that first chart you have up. That's a wild movement to the upside on the last two barson some gigantic volume. What sparked that off? In situations like those its pretty hard to get in on those trades because you're forever carefull of not chasing the market. 2 days of gap ups with strong solid candles with very wide bodies. That particular stock unless backed up by strong fundamental reasons may actually have overheated itself, and a retracement back down towards the base line of the triangle looks like it may be viable, especially as the volume on the second gap up seems to be 1/2 that of the break out.