The Chartist - Latest Comments

Re: Short Selling Ban Remains

admin — Sun, 02 Nov 2008 02:17:04 -0000

We don't use channels or any indicators. Swing trading looks for short term moves with profit targets. Buy Write is a reference to options.

Re: Short Selling Ban Remains

Doug McManamny — Sat, 01 Nov 2008 02:32:25 -0000

Hi Nick,

Have just re-read your March '07 Report.
I assume by "Swing Trading " you mean trading the channels and by "Buy - Write" strategies you are referring to Options Trading?
Please correct me if I am wrong.

Re: 28 October 2008 – A short squeeze…

admin — Thu, 30 Oct 2008 15:55:45 -0000

MIR is the ticker code for Mirant Corp

Re: 28 October 2008 – A short squeeze…

Geoff Woods — Thu, 30 Oct 2008 07:08:54 -0000

NIck,

please decipher "MIR"

Geoff

Re: 28 October 2008 – A short squeeze…

admin — Wed, 29 Oct 2008 20:13:30 -0000

Charles,
Try this link, 2nd tap called "Special Information":

http://www.interactivebroke...

Re: 28 October 2008 – A short squeeze…

Charles — Wed, 29 Oct 2008 20:02:03 -0000

Nick,

I was interested to see that some of your shares were removed due to the new SEC laws. i have not come accross these new laws. do you have any information/opinion on how they work/what they are?

Re: 22 October 2008 - HMY hits the target

Steve Adams — Fri, 24 Oct 2008 20:05:11 -0000

I had the same thing happen Richard using the 10 cent Limit spread on MIR. I also missed the ADM trade using the same spread. Looking at Nicks' fill on ADM l'm guessing he is not using a Limit Price.

Re: 22 October 2008 - HMY hits the target

Richard Taylor — Thu, 23 Oct 2008 19:52:01 -0000

Always the way i had my Stop Price on MIR at $18.09 with a Limit Price of $17.99 and didnt get filled. Would have been nice one on the way down.
What spread to most people use ?
.

Re: 14 October 2008 - An up day does not make a new trend...

Robert Carey — Tue, 14 Oct 2008 05:39:10 -0000

Hi Nick,

I just can‚Äôt believe that supposedly intelligent and informed people are saying that we have now seen the lows. Where‚Äôs the confirmation and what is is there to say that these most recent bailout packages will work? Nothing else has so far!!
In months to come Friday‚Äôs low may prove to have been the low of this bear market but the truth is no one really knows. Anyway I thought the most basic definition of a rising trend is that of higher highs and higher lows ‚Äì can‚Äôt see that yet. I think you‚Äôre spot on for highlighting just how risky things still are.

That said, if the opportunities present themselves I‚Äôll be making short term trades on the long side but as always only if the charts tells me to.

Re: October 3, 2008

Ross — Tue, 14 Oct 2008 00:29:41 -0000

Thank you I'll get in touch with them

Re: October 3, 2008

admin — Tue, 14 Oct 2008 00:21:55 -0000

Ross,
The model account we're using for these performance pages is the MF Global platform. They are a DMA provider that also offers desk support and they do have N.Z. clients.

Re: October 3, 2008

Ross — Mon, 13 Oct 2008 23:18:41 -0000

Thank you for that Nick.
Yes I most certainly see what you mean.
I'm getting eduacated at every turn.
Are you aware off a user freindly DMA provider operating in NZ, that handles CFD trades ?.

Re: October 3, 2008

admin — Mon, 13 Oct 2008 16:18:47 -0000

MM's are open to amending price spreads to suit themselves. I have personally been involved with two separate providers and both experiences were a shocking example of price manipulation. Another was more of an eyeopener when each morning in the opening seconds there would be a wild price spike, sometimes > 10% of the underlying, in which all stops were washed out before prices settled back to normal. I have no doubt this was done with the sole goal of cleaning out traders.

I have no time for MM's, will not use them, will not recommend them and do anything to suggest people use DMA providers. Why trade in a market that is not transparent and knowing that the P&L of the provider is directly related to your own position.?

Re: October 3, 2008

Ross — Mon, 13 Oct 2008 15:51:43 -0000

Hello Nick, listening too your tone of voice regarding short trading through Marketmaker Brokers, you would appeare to be against this practice.
I'm very new to the Markets and have opened an Account with a MarketMaker Broker, could you expand on your view's on why perhaps I may have made the wrong choice.

Re: Watching from the sidelines...

John — Sat, 11 Oct 2008 09:51:20 -0000

Sydney racing was a Rosehill today as opposed to Randwick - the winner was number 13 in the 5th... stick to charting I reckon :-)

Re: Watching from the sidelines...

Geoff Woods — Sat, 11 Oct 2008 07:07:11 -0000

Actually, they raced at Rosehill today, not Randwick; if you meant the Sydney races generally with your tip, then #5 in the 6th won and paid 1.90.....dividend not so great but you've got a 100% success rate so far.....

Re: Watching from the sidelines...

Marco — Sat, 11 Oct 2008 04:25:51 -0000

Hello Nick,

tell me about the DOW last night. I traded it on the 3min chart and I know I have not even close the experience you have (only got 7 years) but the price action was just plain ridiculous

I did finish the nights trading successfull but by 6.00 AM this morning I just felt absolutely stupid and asked myself why I was even trying to trade this market. Even though I stuck to my system (with extreme close stops) it was very hard work because you just couldnt get your eyes of the screen for 2 seconds.

i will probably take a few days off next week till the dust settles.

cheers

Marco

Re: Watching from the sidelines...

Greg Rowney — Fri, 10 Oct 2008 23:55:50 -0000

Hi Nick,

Thanks for the DOW futures chart, it said it all and explained why my couple of futile attempts recently at trading an ASX index have been unsuccessful - the volatility belies all attempts at trying to set a stop and adhering to sensible risk management.

You said:

"I appreciate subscribers want signals to trade, however, the fact that there are no signals is actually a signal in itself."

Speaking personally, I subscribe to The Chartist for quality, high probability (and low risk where possible) signals. I can get plenty of low quality signals from sources such as the media for free.

Please keep the quality in your signals, I am more than happy to wait as long as it takes for these to arrive.

Re: 8 October, 2008 – Confessional

kerry — Thu, 09 Oct 2008 05:43:56 -0000

Hi Nick,

Unfortunately, am still in FLX as I missed getting out before the spectacular dive of the past week. Am clinging to the hope that the t'over offer comes through, but then that's not TA is it ;) Made a bomb on your last FLX trade (from $14 to $22 odd) so am hoping that history repeats itself. Keep up the good work, cheers

Re: 8 October, 2008 – Confessional

admin — Thu, 09 Oct 2008 02:23:06 -0000

Gents,
I thought I made myself quite clear. I looked at the 500+ fall, decided that no buy orders could possibly be filled so didn't even place the order. No order placed, no fill. Yes, it detracts from the exercise if I don't get filled - which is why the commentary is entitled 'Confessional' and why the discontentment in my tone.

Re: 8 October, 2008 – Confessional

Laurent — Thu, 09 Oct 2008 02:08:49 -0000

Hi Nick,

I am not quite sure I understand why you did not get filled with the ALL order...

Can you explain pls?

By luck -maybe- I decided not to get involved when I saw the US results overnight!

As some say "better to be on the sidelines wishing you were in than in the market wishing you were out!" At least in this environment! :)

Keep up the good work Nick... Sunny days will come.

Laurent

Re: 8 October, 2008 – Confessional

Mark — Wed, 08 Oct 2008 23:00:21 -0000

I'm not sure why you weren't involved in this trade on ALL. If its in the power setup, do you not set this up as a trigger trade, waiting for the break above the target buy? If that isn't how the trade is set up, do you do it manually?

Re: 8 October, 2008 – Confessional

charles — Wed, 08 Oct 2008 22:24:18 -0000

Dear the chartist,

1. i find it interesting that you were not on this trade. i thought that you would have preentered this trade in your system and would not have waited for the open like most of your subscribers would do? is this your usual practice to hold off on entering the trade after waking up and seeing what happened in the US?

i would imagine that most of your subscribers accounts are down, however your performance tracker of the asx power setups is not.

2. the US is an absolute basket case at the moment. sheer feer is driving the market. this does provide an opportunity. when there is a bounce, it is going to be massive. every retail and insto investor is going to be looking to pick up these stocks on the cheap. the only problem, is that with cfd trading, your stop has to be set so wide that the return is still relatively small. tough times.

Re: 8 October, 2008 – Confessional

admin — Wed, 08 Oct 2008 17:46:56 -0000

Now now Louise...

Laura, the reference to 'R' is the measurement of the initial risk. In this case I am risking 0.5% per trade, so 1R = 0.5%, or $250 on the $50,000 account. When we discuss profits we measure them in relation to the initial risk or 'R'. So if I make a $500 profit its considered a 2R profit, 2x the initial risk. Ideally we want to make the largest R gains as possible. I have set my minimum target as 2.9R or $725 in dollar terms. We want to aim for those high R gains, the big ones that really boost the account. They'll be rare, but they will come along and we must ensure we catch them.

Thank you both for visiting...

Re: October 6th, 2008 - Gathering Dust

Laura — Wed, 08 Oct 2008 17:35:04 -0000

"It continues to amaze me how many people think they ‚Äòneed‚Äô to trade."

Thanks for this...it kept me out of the last ASX power-setups: ALL & AOE.