Nick1984

Walter your siamese has red eyes! It's evil! Jk hehe. I love cats. I used to have one myself. He died a couple of years ago. I was shattered. I love pets

In my experience with penny stocks the best ones to trade are stocks that are in the biotech and mining (uranium especially) industries. These are the ones that are the most volatile so you can catch a lot of movement. These guys usually like to move between 5-15% a day. Thats heaps. If you look at the market cap of these guys the sub $500m stocks are way too risky cause the volume going through is horrible. But if you can find a stock between $500m-$1b then you can get some decent value going through each day between $500,000-$8m a day which is pretty decent if you're trading with a $50k-100k account. You certainly can day trade these guys and try to catch a portion of the move as WHY? says. Brown, for the 100% returns you're talking about you really need to go in and do a bit of some fundamental research on the stock to see what the company does etc because if you try to catch those moves on most penny stocks you'll hit your stop before anything major happens. Your candlestick analysis seems very spot on though. This high volatily is why I say go for biotech or mining companies because a lot of these guys move up heaps on small announcemnts. I.e: If an explorer announces they just got a tenement somewhere in some 3rd world country where regulations are few and far between watch the price rocket up 40% in a day only to tumble down 50% later once the first few bore holes show low mineralisation or unrealistic strike depths!

Yea I've done it before lol. I know other people who do it as well. I hate politicians!

This would fit into the swing trading section

Damn it seems I made a fool of myself and posted this in the wrong forum....mods....help! Someone hand me a shovel so I can dig this hole a lil deeper.

Hey guys, I have a PDF here which describes the turtle trading strategy. Nothing that special here just though some of you may find it interesting. I guess the best thing about it is the discussions on money management. Cheers, Nick turtlerules.pdf

Our elections here in Aus are now set for November 24. Looks like everyone is goin to the polls soon! I'm gonna do the penis vote this year. I hate everyone so my ballot will display a large phallus on it (voting is compulsory here in Aus).

WHY? the problem with what you just described above is that penny stocks suffer from the curse of little to no volume. There is very little chance you can purchase a substantial holding of shares and immediately turn around with a sell order 3-4 ticks above your fill and have a perfectly executed trade. Well let me rephrase that. You can't do that and expect to make a decent living. The volume turnover on penny stocks is too low. Usually any trade with a value worth over $8-10k gets noticed easily. Penny stocks are better traded using option spreads. You're way better off buying an in the money call on penny stocks you think are bullish and vice versa for bearish stocks or simply take a spread. The open interest on options in penny stocks is still usually high enough to be able to trade the options where the option itself will give you access to a much larger parcel of shares than buying the shares directly.

I guess a discussion on Blach-Scholes would be good for options trading. Options are a complicated instrument to trade, however if used correctly can be very rewarding. I personally don't like them too much. The time wasted in searching out options on stocks is highly time consuming, even with a sniffer out there working for you. My 2c though

Nice stuff there Reaver. You're system is completely different from mine so nice to see someone else! I'm hoping to get back into swing trades once again cause that's where I started out! One your MMA's, I have a question: On your soybean trade the blue cluster dips and you considered that to be the traders agreeing on current price, how do you interpret the dip as an agreement?

I'm not really informed on US politics but doesn't the middle of your country vote red? Only the coasts vote blue don't they? Republican's should therefore do pretty well but I don't know who's running. If I had to pick between Clinton or Obama I'd say Clinton would win.

Swing trading is an area that I love cause thats where I started swing trading stocks. Brown is right, the bread and butter stuff you take intraday but catching a weekly move is what really pulls the cash in. If you have enough capital to fund a swing account then by all means do it. If you miss the leverage from trading futures, maybe you should consider trading CFD's? There are some good CFD provdiers around and they will let you take a much larger position than you could using straight out equity. Hope you stick around here though, always loved your posts. You're so good at your analysis Tin, it's a shame to see you give it up! I predict that within a year you'll crack and come back to intraday hehe.

Tick charts work well in combination with fib's but its the same as any other chart. If you feel comforable using a 233t (2-3min chart equivalent on the YM) then use it but have an anchor like Walter just said.

Complete e-ignorance here but what is a RSS feed? I've never been game to try it cause I'm paranoid about viruses.

I don't have the figures on hand but here in Australia over a 7-10 year period you find that the vast majority of actively managed funds don't actually outperform their benchmark index. Returns usually are consistent with the overall return of the index. Only a few funds manage to actually beat their index. This is very important to remember when picking funds. You need to establish what your investment time frame is. Most funds specify that a 7 year investment period is recommended. If you can actively manage your fund portfolio you may be able to acheive above benchmark returns. This however is beyond the time and effort of most people, unless you pay a financial adviser to manage your funds but that costs more on top of what you pay for the funds themselves! ETF's are the best option for those who don't want to fork out money to advisers. You'll be better off just buying into one of these funds and letting it run cause most of the time you can be relatively certain that you will get at least an index return! Funds do have some great financial startegies attached to them however which make them great tools for playing around with your cash flows but I wont get into that now

Finding a good fund takes a lot of work. I work myself in the financial services industry and finding a few good funds out the the hundreds on offer is a nightmare thats why so many people go to financial planners. If you're going to do it yourself I would suggest that you first decide what type of fund manager you like: value, growth, ethical etc... Once you find what type of fund manager you like you need to look at the index the fund is basing itself off and how its returns compare to its benchmark index. Next comes fees. Like brown just said, fees and commissions can eat up a lot of your money. Retail funds charge up to 4% entrance commissions in Australia with trailing commission as well every year on top of standard managent fees, possible administration and member fees as well. Returns on the fund should really be shown inclusive of fees to be as accurate as possible. You also need to make sure that you invest your funds according to your risk preferences. If you're very conservative there is little point in overexposing yourself to a highly volatile sector such as international shares or in geared funds. All that being said, fund managers do provide a relatively hastle free way of investing surplus cash flows which can sit and grow in the long term.

Your Icon trades work well with a high RRR but also (based on my own experience here) have a pretty high success rate as well which makes them very good trades, but you're not always going to get many perfect icon setups in any one day. In forex that might be different though. The scalping technique you're developing though will be very interesting cause you can always trade these in spot forex or forex futures while you're waiting for your medium intraday setups to develop, or even just scalping the pullback in an icon itself! A fantastic way of supplimenting your income from your longer term trades.

Hey Blu, thats quite a handy spreadsheet! Much nicer than my old crappy ones I used to make. Did you write that up yourself or did you find that somewhere?

Now this is what I'm gonna love. A scalping type thread. I though't you'd abandonned your scalping roots for a while there Walter This thread I'll be following closely.

Thats what I used to do for getting a very basic MP system going using EOD data so I could set up a MP for the day's trading. I'd use the Time and Sales and break it up into 1/2 hour blocks and then log the info into excel and then then make up my own MP. This was for stocks btw not futures. MP works well on stocks as well as futures in my experience. Very time consuming. Back to a key point in the original theme of this post was why do we use pivots? I see pivots as sticky points in the market where price usually tends to hold up and see whether it breaks or not. I don't try to understand why price starts to stall around these areas but all I care is that it does. I guess it stalls cause every Tom, Dick, and Harry knows about pivots and uses them so they become a sort of self fulfilling prophecy type thing where price stalls cause everyone expects it to stall there!

Very lucky you didn't get glass in your eyes. Be really carefull with fights, never assume people fight clean. If I was in a fight I wouldn't fight clean. I'd knock out a knee cap or gouge eyes, or go for a guys balls in a second. You never know if they have a knife or worse! Good to hear you're ok, relatively speaking. Remember the best form of self defence it to not get into fights! Take it easy for a while mate.

Are you sure thats a straddle? If you buy a put and call at same strike your essentially buying a futures contract arent you? Or is that when you buy one and sell the other? Options are annoying as hell lol.

Here's one for the Jui Jitsu guys.

James here's a couple of youtube videos for MMA training/conditioning styles. Another area to attack is also the knees. A well placed kick to the side of someoene's knee will put that knee out of action permanently! Even if u kick them frontally and drive the knee backwards you'll snap the AC ligaments at the back and that requires a total knee reconstruciton! OAC spot on with the punches. If you take a swing at someones head and you connect with the actual cranium you'll break your hand. The cranium is the hardest part of the human body. Learn to use open fists and save yourself!