Dont you just hate that?

[evand]

Thorpey,

I don't average down anymore. I have been caught out doing that years ago and paid the price.

I actually like to buy more of a stock as the price is rising as it means on thing.
Now, that's contrary. LOL

Kum,

The huge volume of selling is a worry. Still, i don't get too concerned about one stock. I have a bunch to worry about.

 

[ruroshin]

reading this thread especially boods post reminds me of the "way of the turtle" where it talks about taking advantage of the market emotions.

• Hope: I sure hope this goes up right after I buy it.
• Fear: I can’t take another loss; I’ll sit this one out.
• Greed: I’m making so much money, I’m going to double my position.
• Despair: This trading system doesn’t work; I keep losing money.

I think boods is at the Hope stage.

 

[WinstonWolfe]

MCC was a fav of mine 3-5 years back.
as was FLX, which I've held onto.....

 

[evand]

And your point is?

reading this thread especially boods post reminds me of the "way of the turtle" where it talks about taking advantage of the market emotions.

• Hope: I sure hope this goes up right after I buy it.
• Fear: I can’t take another loss; I’ll sit this one out.
• Greed: I’m making so much money, I’m going to double my position.
• Despair: This trading system doesn’t work; I keep losing money.

I think boods is at the Hope stage.

 

[Piston Broke]

reading this thread especially boods post reminds me of the "way of the turtle" where it talks about taking advantage of the market emotions.

Turtles don't take advantage of anything, the follow the trends.
And yes trend following still works well.

 

[The Fence]

Thorpey,

I don't average down anymore. I have been caught out doing that years ago and paid the price.

I actually like to buy more of a stock as the price is rising as it means on thing.
Now, that's contrary. LOL

Kum,

The huge volume of selling is a worry. Still, i don't get too concerned about one stock. I have a bunch to worry about.

Yes Ev, the trend is your friend, to quote an overused saying, but still true as P&B says....

Therefore...Boods....I'll be loading up on more MBN when it dips back to the trend line...but that trailing stop loss is only a few pips away...

You might have noticed the volume has been generally low on it's down days but much higher on the rising days and the last two days has seen some big grabs from buyers...big grabs for this stock anyway...just some more pointers to ponder in your learning....

 

[kum yin lau]

Exactly so, Thorpey. I'd like to add some words of support for Boods. The 1st attempt is rarely a huge success. but its impt lies in the fact that if forces you to think about the next step. If you're experienced, you'd already have the next step in your head, just like chess.

With a stock that I'd bought, I noted the volumes. It was chugging along doing nothing around 250000 shares per day & then the price shot up 13% & the volume >1M After that, there was one day almost 15M shares were traded. Yesterday 6M.

So I checked again. HESTA bought 450K shares, HOSTA 1.1M

This is on public record.

There's not a lot of fanfare about it, but the funds, they are buying.

KY

 

[evand]

MCC up 3%+ in 15 minutes.

No worries, Boods, she'll be right. I'll say it again. Great companies always have support.

 

[The Fence]

Actually ...must apologise for my earlier write off of MCC....studying the chart closer I see it has hit the very bottom of it's support trend line and as you say Ev...the support is there....might grab a handful at this level and set a stop at 7.80.

MBN making new highs with some large hits 3rd day running....they want it bad...

 

[boods99]

reading this thread especially boods post reminds me of the "way of the turtle" where it talks about taking advantage of the market emotions.

• Hope: I sure hope this goes up right after I buy it. Doesn't everyone want this??
• Fear: I can’t take another loss; I’ll sit this one out. Fear can be good sometimes to prevent you from doing stupid things.
• Greed: I’m making so much money, I’m going to double my position. Haven't been in this postion yet, but will let you know
• Despair: This trading system doesn’t work; I keep losing money. haven't lost anything yet!
I think boods is at the Hope stage.

I think you're right


Boods

 

[boods99]

MCC up 3%+ in 15 minutes.

No worries, Boods, she'll be right. I'll say it again. Great companies always have support.

I agree...I can wait!

Boods

 

[boods99]

Exactly so, Thorpey. I'd like to add some words of support for Boods. The 1st attempt is rarely a huge success. but its impt lies in the fact that if forces you to think about the next step. If you're experienced, you'd already have the next step in your head, just like chess.

With a stock that I'd bought, I noted the volumes. It was chugging along doing nothing around 250000 shares per day & then the price shot up 13% & the volume >1M After that, there was one day almost 15M shares were traded. Yesterday 6M.

So I checked again. HESTA bought 450K shares, HOSTA 1.1M

This is on public record.

There's not a lot of fanfare about it, but the funds, they are buying.






KY

Thanks for the vote of confidence KY.

 

[Y33]

Hi all,

I confess to knowing absolutely nothing about shares or trading.

After my last investment deal made a nice sum I asked the other half what she would like to do with some of her money and she wants to try either shares, trading or currency exchange. Is there someone who could point me in the right direction and possible guide her along. Her preference at the moment is currency exchange but anything is okay. Happy to start with a small investment of about $1000 and see what happens. She fully understands their are risks involved and although will be a hobby style investment is eager to turn it into more. She is not an Australian citizen or resident so does that make any difference?

 

[The Fence]

Big question with reams of answers possible.....try google "investing in......etc" and have a look from there.

But for share trading you can't go past the ASX website for starters, they have plenty of resources there...
....and have a look at www.sitm.com.au it might be something to look at as well. I'm quite familiar with them and David Bowden in particular.

In fact SITM cover most trading vehicles so a sort of one stop shop....

Good luck with it...!



Update for Boods....didn't get hit on MCC today...I'm too stingy...set a buy at 7.90 after lunch but it stayed around that 8.00 mark.....I'll remain patient...

MBN going flat out again and alot of fun watching Depth last couple days....specially while holding a bunch...

ANN came into my sights very late with a big slide at the death...almost got my 9.30 order hit.....always tomorrow...


I'm gonna have to lay off in a week or so...will be too busy back on the tools and no time to trade....back to the 'investing' again for awhile....

Don't you just hate that...?

 

[ruroshin]

And your point is?

no real point, just making an observation.

• Hope: I sure hope this goes up right after I buy it. Doesn't everyone want this??

Certainly, although we are surpose to take the emotion out of investing. If you're buying in then it means you think you know something that gives a good probability of the share going up. "Hoping" won't change that probability.

Turtles don't take advantage of anything, the follow the trends.
And yes trend following still works well.

do you use any trend following system PB? Somebody mentioned dual moving averages before, I guess thats still working?

 

[kum yin lau]

Hi boods, enjoying your baptism by fire yet?

I tried to buy @8.20 but kept getting pushed out of the way. At 9.59 I had a buy order @8.46 but others were hardier than me so I cancelled.

I've sold @8.36

KY

 

[boods99]

Hi boods, enjoying your baptism by fire yet?

I tried to buy @8.20 but kept getting pushed out of the way. At 9.59 I had a buy order @8.46 but others were hardier than me so I cancelled.

I've sold @8.36

KY

Yes KY, enjoying the rollercoaster!
Geez...out of the office for one day and everything starts to happen! MCC up 7.47% at closing...nice work Ev! You still in?
Got a sell order in at $8.81, might happen Monday morning I reckon!
Interesting this movement comes off the back of a recovery of the DOW last night! I think this is telling us something.

Boods

 

[boods99]

Big question with reams of answers possible.....try google "investing in......etc" and have a look from there.

But for share trading you can't go past the ASX website for starters, they have plenty of resources there...
....and have a look at www.sitm.com.au it might be something to look at as well. I'm quite familiar with them and David Bowden in particular.

In fact SITM cover most trading vehicles so a sort of one stop shop....

Good luck with it...!



Update for Boods....didn't get hit on MCC today...I'm too stingy...set a buy at 7.90 after lunch but it stayed around that 8.00 mark.....I'll remain patient...

MBN going flat out again and alot of fun watching Depth last couple days....specially while holding a bunch...

ANN came into my sights very late with a big slide at the death...almost got my 9.30 order hit.....always tomorrow...


I'm gonna have to lay off in a week or so...will be too busy back on the tools and no time to trade....back to the 'investing' again for awhile....

Don't you just hate that...?

Hey Thorpey,
Had a look at MBN and ANN, both seem to have a gentle yet constant upwards trend. Might watch them over the next week or so.
MBN's traded volum is about twice that of ANN. Would this be due to the much lower share price, or do you think there is more to it?

Boods

 

[evand]

Yes mate. I have $20k worth. Bought at $8.89 on the 31/08.

If the Dow has a big night tonight and you can keep your eye on the shares in the first couple of hours Monday morning, i'd remove your sell order and watch it rise. If you cant do that, keep it there.

Then again, as i've said previously, nothing is definite in this game. only most likely or most probable. But i;d say there's a good chance it will do well.

Yes KY, enjoying the rollercoaster!
Geez...out of the office for one day and everything starts to happen! MCC up 7.47% at closing...nice work Ev! You still in?
Got a sell order in at $8.81, might happen Monday morning I reckon!
Interesting this movement comes off the back of a recovery of the DOW last night! I think this is telling us something.

Boods

 

[boods99]

Yes mate. I have $20k worth. Bought at $8.89 on the 31/08.

If the Dow has a big night tonight and you can keep your eye on the shares in the first couple of hours Monday morning, i'd remove your sell order and watch it rise. If you cant do that, keep it there.

Then again, as i've said previously, nothing is definite in this game. only most likely or most probable. But i;d say there's a good chance it will do well.

Same here...got 10K @ $8.81 and 10K @ $8.26.
Roll on Monday morning...going to be an interesting day.
If I was to remove my sell order during the weekend, will it be considered removed straight away or will it have to wait until market opening?

Boods