Nick1984

Thats true only if you've got a broker which will allow you to short that particular stock! The triangle formation is a very usefull pattern in swing trading. The safest method is playing the breakout of the base straight away, on a candlestick, or getting in at any retracements. They are usually pretty high probability trades. I'll try dig up some charts! On stocks however, you do need to be carefull with company announcements and the correlation between price and announcements on that particular stock. One of the stocks that I swing trade, Bannerman Resources (BMN on the ASX) has a habit of actually going down in price on good news. This has often caught out quite a few people who have been waiting for breakout on triangles.

I'm glad that I don't place bets. If I was a bookie then it would be a great business to get into however we all know that the book making industry is run by the mafia in whatever country you're in, and the only way to get a bookies license is to know people who know people. The Melbroune Cup is going to be run pretty soon (Horse Race). The Bookmakers are going to make a killing. I heard that on average a bookie at the track turns over about $200k per hour, from which he will pay out a substantial amount to the winner, but they can and do leave the day with a lot of profit in their pocket from the vigorish that carcanaques describes. Messy business lol. P.S: I wanna retain all my fingers, toes, and other appendages that I find usefull so I don't wanna make any bets that I can't afford!

How has the transition from a system you've developed for over 4 years to this new spread sheet type trading effected you James? It must be a real shock to your system to have to basically learn to trade all over again! Has your new system produced decent results for you? Sounds all very interesting but also I can't imagine looking at spread sheets all day, would do my head in!

Good work mate. I'm gonna get my Dobermann soon, I can't wait. Do you have breed specific legislation (BSL) in the USA? Over here in Aus they are introducing BSL which is really worrying. In my home state, they want to ban the breeding of dogs which have any possibility of passing on genetic defects such as VwD. That will rule out breeds such as my beloved Dobermann's, Rotweiller's etc.. Some woman was recently bitten by a Rottie last week in Perth and now more calls are being put out to ban more breeds. Currently in Victoria American Pit Bulls are banned....Blame the owners not the breed I reckon! I hate it how politicians are quick to pass knee jerk legislation in relation to dogs.

OMG I love barbeque's (Throw another shrimp on the barbie!). You know whats fantastic on a BBQ....Lamb marinated in nice extra virgin olive oil, onion, lemon, and oregano Greek style. That is so nice.

I've got one question on Hammers which may seem very simple but has confused me none the less. Lets say that you've established that there's a down trend and suddenly there is a hammer....does it matter if the hammer closes lower than the open (red candle) or for it to really be bullish does it have to be close above its open (green)? As for entries, I think brown is 100% on that one, you have to strike pretty soon. If you're waiting for confirmation of an uptrend why don't you place a limit order a few ticks above the high on the hammer, if the move is just some short covering you may not get filled. If the hammer is genuine then you can get in at a relatively good price.

Who's TJ Hooker? LoL Ignorant post for the day award goes to me!

Nice pic's there doc. I heard the Iraqi stock exchange has started up as well. It looks not to dissimilar to the Nepal exchange but they all have to start somewhere!

I've noticed that you guys in your swing analysis are using SMA"s pretty exclusively and that the S/R's seem to be mainy visualally generated? Do you use the daily/weekly/monthly pivots as well? I've usually found that when I was swing trading stocks, price didn't really respect the SMA's anywhere near as much as the EMA's. I guess that is based on how the lines are calculated, the SMA will have a lot more 'noise' than an EMA. Each to their own I guess though hehe. The candlestick analysis has been fantastic though, and all this discussion sparked my interest in candles much more to the point where I've been analysing them a lot recently and I must say I actually find them very comfortable. I actually ordered Japanese Candlestick Charting Techniques from Amazon about a week ago so hopeflly it will come soon!

Keep on testing your system mate. It sounds nice and simple and if you feel comfortable with it then fantastic. However like I said earlier, if you're looking for 20-40 setputs a day and are hoping to make a decent living then forget about the ASX200 SPI futures, theres not enough volume going through. If your taking that many trades per day you'll be one of the biggest players on the whole market! If you want to trade more than 1 lot then you may find it hard to get in/out of your positions. Try the Nikkei instead. Same time zone, generous tick size, and also a heap more volume!

Good luck to you on that play Nithy. Don't you find that by the time you've paid someone else to do the thinking for you, and then read everything they have to say the best positions are already gone? Save your money and learn to analyse stocks yourself!

I like the idea guys. Swing trading stocks is where I started so I would be more than happy to participate in any discussions on swing trading. Are there any particular markets that you are going to concentrate on? I haven't actually touched US stocks before so that area is 100% new to me but it shouldn't be too different from my domestic market

Hi late to the party Charlie. They say that the ability to take notice of detail is important in making it as a trader, especially importnant numbers and dates!

You can download it off their official site and pay whatever you want for it...'hint hint'.

I reckon the best education i'll find is the one the market teaches me. I've always been wary of snake oil salesmen. Thanks for sharing that experience brown It's people like you who contribute honestly to these type of boards who provide the best possible type of educational guidance to traders.

Hey Abe I love 80's stuff. I was born in the 80's and I can remember a lot of the cool stuff that happened during the 80's and I still love to crack out some tunes that were around back then. Michael Jackson was my god when i was a kid! Who can honestly say that they haven't tried to do the moonwalk? hehe anyhow here's a couple of great 80's tracks for you. TOTO - Africa Billy Joel - We Didn't start the fire

Yea the HSI scares me. It's a bit like a teenage girl on the rags in terms of its predictability. Way too volatile.

Has anyone listened to the new Radiohead album? I've only just started propperly listening to Radiohead. It's a great band I reckon. Very laid back prog rock.

If not putting your hand over your heart means you're unpatiotic then most of the citizens of Australia are pretty (to use a very "in" term now" un-Australian. We even make fun of our national anthem! I don't believe that patriotism revolves around a set of gestures or hollow promises to be true and faithfull blah blah blah. Patriotism is more about the feeling of love and dedication you have for your land. It doesn't have to always be ostensibly shown through the innane practice of holding a hand over your heart. When your country looses a close sporting event and you're on the verge of tears that makes you pretty damn patriotic. When you can sit back and joke about yourselves that makes you patriotic. Australia is definately a different place than the US. Over here we have a sense of larikanism that is pretty wide spread throughout the country. We don't like to take things too seriously here so if we had Obama here not putting his hand over his heart most people except for the ultra conservatives wouldn't give a rat's arse about it. What is worrying here however, is that the government wants to implement a citizenship test for all new immigrants before they are allowed to become citizens. The test is meant to be about Australian values. How do you quantify something like that? Countries like the USA and Australia are relatively new countries in the world and since their inceptions have become melting pots to a very vast range of different people from different ethnic, cultural, religioius, and linguistic backgrounds. Is it fair to assume that the values held by the first white people to settle in the land as being the litmus (sp?) test for the level of patriotism we should all aspire too? If we take the original settlers as being the epitomy of patriotism I should be speaking one of the 150+ Aboriginal dialects in this country which has been inhabited by the Aboriginals for over 45,000 years! I reckon that in the end your meaningfull actions really define how much of a patriot you are. Not placing a hand over a heart is hardly a case for concern. For some of you it may be, however I'd be pretty offended if someone said I was un-Australian because I think that the Ugg boot is one of the worst inventions in fashion ever, or that Fosters and VB suck balls in the beer department (sorry USA fellas we ship that camel piss over to you guys lol).

Hey Cameron where abouts in Aus are you from? I'm a Melbournite myself SPI200 is a bold choice, not enough liquidity here! Have you tried trading the Nikkei instead? Basically same time zone and wayyy more liquidity than anything we could hope for on an index contract here in Aus unless you want to trade the bonds or the greasy wool futures!

Ok Nate, you'll have to give me a crash course on the US political system. What are the primaries, and how do they differ from the individual campaigns? Here in Aus we have our elections all in one lump (apart from state elections). Each electorate votes for the representative form the political party that they choose. The party with the majority of seats wins government and the leader of that party then becomes our Prime Minister. The number of seats we have at parliament is determined by the number of people in a geographical area for each electorate. The more populus states therefore have a larger number of representatives in the lower house. The senate here has two representatives from each state regardless of each states population. Our Governor General is the most senior official as he is the Queen's repersentative here in Australia and has the power to dissolve parliament and fire the Prime Minister if he or she is doing an unsatisfactory job (It happened here in the 70's once). Is our system very different from yours?

Tin, is that up trend line there mathematically calculated or just visually? That support at the box hasn't been broken yet on that chart. I see that the volume on the down moves as still being smaller than on the up moves so maybe the bulls are waiting patiently for price to the come back down to support. I wouldn't be surprised if on the L2 you see a lot of long orders around the 75 mark. However the last few bars do show an increasing volume to the downside. I'd stay out of this one for a while till something a bit more concrete comes up!

Man i just lost a heap on the freekin slots and black jack! Dealer is way too lucky. Im down to like 136 bucks cash now lol. Need to play some hold em and win some cash back. Anyone feel like doubling me up?

How long does your official election campaign last for in the US? Over here ours usually go for around 6 weeks with an official debate taking place between the two major parties. It looks as though the conservative party here will be thrown out. It was interesting to see that the Polish conservatives got thrown out just yesterday. Maybe theres a change in the world political climate?

Someone hop onto the texas hold em for a few hands of heads up!